REBusinessOnline

Select Strategies Purchases Seven-Property Shopping Center Portfolio in Metro St. Louis for $78.4M

ST. LOUIS — Select Strategies Retail Holdings V LLC, an affiliate of privately held real estate investment firm Select Strategies Realty, has purchased a seven-property shopping center portfolio in metro St. Louis for $78.4 million. The 1.1 million-square-foot portfolio is 91 percent leased to tenants such as Aldi, Fresh Thyme Farmers Market, Burlington and Planet Fitness. The properties include Creve Coeur, Kings Highway, LeMay Shopping Center, Gravois Plaza, Kirkwood Crossing, Overland …

Bridge Investment Group Acquires 517,640 SF Office Complex in Rosemont, Illinois

ROSEMONT, ILL. — Bridge Investment Group’s office division has acquired O’Hare International Center, a pair of nine-story office buildings adjacent to O’Hare International Airport in Rosemont. The purchase price was not disclosed. The buildings total 517,640 square feet. Bridge plans more than $5 million in capital improvements, including the renovation of both lobbies, a new tenant lounge and conference center. Renovations are expected to begin in mid-October. Originally built between …

Propper Construction Services Completes $29M Apartment Project in St. Louis

ST. LOUIS — Developer Propper Construction Services has completed the 1400 Russell Apartments in the Soulard neighborhood of St. Louis. The 130-unit apartment property is located on the site of a former warehouse. Amenities include a rooftop pool, lounge, courtyard, fitness center, business center and concierge services. Monthly rents range from $965 to $3,070. More than 40 percent of the units are leased. Trivers Associates Architects designed the property and Paric Corp. was the general …

Colliers Arranges $5.7M Sale of Office Building in Milwaukee’s Brewery District

MILWAUKEE — Colliers International has arranged the $5.7 million sale of the historic Pabst Boiler House No. 10, a retrofitted office building in Milwaukee’s Brewery District. The 40,744-square-foot, brick-and-timber loft office building is fully occupied by seven tenants, including law firms Borgelt, Powell, Peterson & Frauen SC and Ogletree Deakins. Tom Shepherd, Scott Welsh, Lyle Landowski and Jennifer Huber-Bullock of Colliers represented the seller, Milwaukee-based developer PBH …

Essex Brokers $3M Sale of Apartment Building in Chicago

CHICAGO — Essex Realty Group has brokered the sale of a 32-unit apartment building in Chicago’s West Ridge neighborhood for $3 million. The property, located at 2349 W. Devon Ave., also features 8,097 square feet of street-level commercial space that is fully leased. Abe Eilian and Doug Fisher of Essex represented the seller, while Brian Kochendorfer, Brian Karmowski and Troy Beebe represented the

Ivanhoé Cambridge Acquires Callahan Capital Properties in Investment Firm Merger

CHICAGO AND NEW YORK CITY — Ivanhoé Cambridge has acquired Callahan Capital Properties (CCP) for an undisclosed price. The transaction will internalize all investment and asset management responsibilities. In 2012, Ivanhoé Cambridge partnered with CCP to expand its U.S. office properties platform. At the time of closing, the platform’s assets under management were in excess of $10 billion. Some prominent office properties that the partnership owns in New York include 85 Broad St., …

Opus Begins Construction of 256-Unit Apartment Complex in Kansas City

KANSAS CITY, MO. — The Opus Group has begun construction on a 256-unit apartment complex in the Westport neighborhood of Kansas City. The development, located at the corner of Westport Road and Broadway Boulevard, will also include 10,000 square feet of ground-level retail space. An array of amenities will feature a pool, fitness center, dog wash station, lounge areas, conference rooms and bike storage. The project is slated for completion in spring 2020. Additional project partners include …

Bystronic Breaks Ground on 162,875 SF Headquarters in Hoffman Estates, Illinois

HOFFMAN ESTATES, ILL. — Bystronic has broken ground on its new experience center and U.S. corporate headquarters in Hoffman Estates. The 162,875-square-foot facility will feature a showroom as well as serve as the hub for the company’s U.S. business operations, including sales, service, spare parts and the refurbishing of used machines. Completion is slated for summer 2019. Bystronic, a provider of solutions for the sheet metal processing business, currently operates out of Elgin. Jeff …

Berkadia Arranges Sale of 380-Unit Multifamily Property in Kansas City

KANSAS CITY, MO. — Berkadia has arranged the sale of Plaza East, a garden- and townhome-style apartment community in Kansas City. Located at 1500 E. 46th St., Plaza East is convenient to The Country Club Plaza, Nelson Atkins Museum of Art and The University of Missouri-Kansas City. The 380-unit property was originally constructed in 1950 and has been partially upgraded over the last three years. Brett Meinzer and Michael Sullivan of Berkadia arranged the sale on behalf of a local private …

Kraus-Anderson Completes Construction of $50M Middle School in Cottage Grove, Minnesota

COTTAGE GROVE, MINN. — Kraus-Anderson has completed the construction of Oltman Middle School in Cottage Grove. The $50 million school opened to students this month and replaces the former school in St. Paul Park. The facility can currently accommodate as many as 1,100 students in grades 6-8 with future expansion capabilities for as many as 1,450 students. Each grade level is housed in its own two-story section of the building. Designed by architects Rego + Youngquist, the 188,000-square-foot …

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