REBusinessOnline

Midwest

Phoenix Theatres to Reopen at Kennedy Mall in Dubuque, Iowa

DUBUQUE, IOWA — Phoenix Theatres has signed a lease to reopen the six movie screens at Kennedy Mall in Dubuque. Moviegoers will get to experience the upgrades to the theater in a grand opening, which is slated for March. Each auditorium will feature fully reclining chairs, premium sound, self-serve drink stations and online ticketing. Opened in 1970 and located at 555 J.F.K. Road, the 700,000-square-foot Kennedy Mall features retailers such as Younkers, Dick’s Sporting Goods, J.C. Penney,..

January 16, 2018

Marcus & Millichap Arranges Sale of 63,150 SF Self-Storage Facility in Wyoming, Michigan

WYOMING, MICH. — Marcus & Millichap has arranged the sale of Mini Storage Depot in Wyoming, five miles south of Grand Rapids. The sales price was not disclosed. The property, located at 4975 Clyde Park Ave., features 319 non-climate-controlled units and 211 climate-controlled units for a total of 530 units. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, an..

January 16, 2018

Tri-Venture Acquires 693,546 SF Office Property in Lisle, Illinois

LISLE, ILL. — A venture between GFH Financial Group BSC, Lincoln Property Co. and Crestlight Capital has acquired Central Park of Lisle I and II in Lisle. The sales price was $129 million, according to Crain’s Chicago Business. The two-building office property totals 693,546 square feet. Completed in 1991, Central Park of Lisle I is a seven-story building featuring 381,634 square feet. Central Park of Lisle II, built in 2001, features eight stories of office space totaling 311,912 square..

January 15, 2018

City Club Apartments Breaks Ground on $70M Apartment Property in Detroit

DETROIT — City Club Apartments has broken ground on a 288-unit apartment property in Detroit. Located at the corner of Washington Boulevard and Park Avenue facing Grand Circus Park, the site was once home to the 18-floor, 800-room Statler Hotel, which was built in 1915. In addition to apartments and penthouses, the property, known as City Club Apartments-CBD, will also feature 13,000 square feet of street-level space, including a pet store, restaurant and gourmet market. Amenities will..

January 15, 2018

Crate & Barrel Inks 117,000 SF Office Lease at The Fields in Chicago

CHICAGO — Crate & Barrel has signed a 117,000-square-foot lease for office and production space at The Fields in Chicago. Crate & Barrel plans to use the space for photo and video production. The Fields is a 22-acre, 1.5 million-square-foot redevelopment of the former Marshall Field’s campus located at 4000 West Diversey St., and is part of the Logan Square neighborhood. In 1965, Marshall Field and Co. acquired the six-story loft building, which was constructed in 1928. After..

January 15, 2018

Resolution Medical Signs 35,781 SF Industrial Lease in Fridley, Minnesota

FRIDLEY, MINN. — Resolution Medical has signed a 35,781-square-foot industrial lease at Northern Stacks in Fridley. The Fridley-based medical device engineering and manufacturing firm will occupy the space at the 133,200-square-foot Stacks III, which is now fully leased. Jack Tornquist of CBRE represented the tenant in the lease transaction. Eric Batiza and John Simek of Colliers International represented ownership, a joint venture between Hyde Development and M.A. Mortenson Co. Upon..

January 15, 2018

Marcus & Millichap Brokers $3.8M Sale of Net Leased Retail Building in Trotwood, Ohio

TROTWOOD, OHIO — Marcus & Millichap has brokered the sale of a retail building net leased to Walgreens in Trotwood, about 10 miles northwest of Dayton, for $3.8 million. The 14,866-square-foot property is located at 5271 Salem Ave. Walgreens has more than 11 years remaining on its lease. Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Medi Vakili of Investment Property Group represented the buyer, a private trust.

January 15, 2018

SWIDA Breaks Ground on $10.9M Affordable Seniors Housing Community in Swansea, Illinois

SWANSEA, ILL. — Southwestern Illinois Development Authority (SWIDA), in partnership with Bywater Development Group and Bi-State Development, has broken ground on Metro Landing of Swansea near St. Louis. The $10.9 million transit-oriented development will feature 62 affordable seniors housing apartment units adjacent to the Swansea MetroLink Station. St. Louis-based Altman Charter is serving as general contractor for the project, which is scheduled for completion in spring..

January 12, 2018

Keating Resources Purchases Industrial Facility in North Sioux City, South Dakota for $5.7M

NORTH SIOUX CITY, S.D. — Keating Resources has purchased the Gateway Computer campus in North Sioux City for $5.7 million. The 750,000-square-foot industrial facility is the largest building in the state of South Dakota, according to Keating. The building was constructed for Gateway in six phases from 1989 to 1997 for an estimated cost of over $70 million. The building, which is 61 percent occupied, will be repainted in the summer of 2018 with a cow pattern paying homage to Gateway’s brand...

January 12, 2018

RDG Acquires 37,172 SF Office Building in Chicago’s West Loop

CHICAGO — RDG Funds LLC has acquired 156 N. Jefferson Street in Chicago’s West Loop for an undisclosed price. RDG plans to redevelop and restore the 37,172-square-foot historic timber and beam loft office building. Currently vacant, the property is located two blocks from the Ogilvie Transportation Center.

January 12, 2018