REBusinessOnline

Colliers Brokers Sale of 823,088 SF Industrial Property in Indianapolis

INDIANAPOLIS — Colliers International has brokered the sale of a three-building industrial property spanning 823,088 square feet in Indianapolis. Franklin Road Distribution Center, located at 221 S. Franklin Road, spans 38 acres within the Indianapolis East submarket. The property is fully leased to 12 tenants, including Pioneer, Dimplex North America, Hoosier Freight & Warehousing, Balsam Brands, Horner Industrial Services, Continuum Games and Sherwin-Williams. Alex Cantu, Steve Disse …

Marcus & Millichap Arranges Sale of FBI-Occupied Office Building in St. Louis

ST. LOUIS — Marcus & Millichap has arranged the sale of an 89,564-square-foot office building occupied by the regional field office of the Federal Bureau of Investigation (FBI) in St. Louis. The sales price was $21 million, according to the St. Louis Business Journal. The two-story building was completed as a build-to-suit for the FBI in 1999 and was expanded by approximately 15,000 square feet in 2008. Geoff Ficke of Marcus & Millichap represented the buyer, a government-focused real …

NorthMarq Secures $17.5M Refinancing for Office Property in Omaha

OMAHA, NEB. — NorthMarq Capital has secured a $17.5 million loan for the refinancing of Linden Place I & II in Omaha. The Class A office property spans 154,772 square feet and is located at 14301 FNB Parkway. Bob Chalupa arranged the 15-year loan, which features a fixed rate and a 25-year amortization schedule. A life insurance company provided the loan. The borrower was not

IPB Negotiates Sale of 56,710 SF Industrial Facility in Fort Loramie, Ohio

FORT LORAMIE, OHIO — Industrial Property Brokers (IPB) has negotiated the sale of a 56,710-square-foot industrial facility in Fort Loramie in western Ohio. The sales price was not disclosed. The buyer, St. Marys Iron Works, plans to begin occupying the facility in the spring of 2019 and will relocate from St. Marys. The property includes 2,850 square feet of office space, four drive-in doors and five docks. The building formerly served as the Marwill manufacturing plant. Tim Echemann of IPB …

Quantum Brokers $1.2M Sale of Retail Building in Fairborn, Ohio

FAIRBORN, OHIO — Quantum Real Estate Advisors Inc. has brokered the $1.2 million sale of Shops at Valle Green in Fairborn, about 12 miles northeast of Dayton. The 5,000-square-foot property is located at 1171 E. Dayton Yellow Springs Road. The asset is fully leased to Verizon, Great Clips and Hot Head Burritos. Daniel Waszak and Zack Hilgendorf of Quantum represented the private seller. A Midwest-based investment fund purchased the

Structured Development to Undertake Final Phase of Mixed-Use Project in Orland Park, Illinois

ORLAND PARK, ILL. — Structured Development LLC has been selected to develop the final phase of the downtown Main Street Triangle project in Orland Park. Structured will complete the five remaining parcels comprising approximately nine acres within the 27-acre Triangle master plan. The project will include retail, office, hospitality and entertainment space. Completion is slated for 2021. The Triangle currently houses Ninety7Fifty, a 295-unit mixed-use rental community; the University of …

DRA Advisors, Pine Tree Acquire 171,339 SF Retail Center in Suburban Chicago for $32.5M

KILDEER, ILL. — A joint venture between DRA Advisors and Pine Tree LLC has acquired The Shops at Kildeer, a 171,339-square-foot retail center located in the Chicago suburb of Kildeer, for $32.5 million. Bed Bath & Beyond, Ulta Beauty, Michael’s, Old Navy, Uncle Dan’s and Cost Plus World Market anchor the center. George Good and Christian Williams of CBRE brokered the transaction. William Barry of Draper and Kramer arranged acquisition financing through Wells Fargo on behalf of the …

CHC Arranges $14.7M Refinancing for Embassy Suites Hotel in Columbus

COLUMBUS, OHIO — Cronheim Hotel Capital (CHC) has arranged a $14.7 million loan for the refinancing of an Embassy Suites hotel property in Columbus. A national lender provided the loan, which features a locked rate of 4.44 percent, a 10-year term and a 30-year amortization schedule. Kana Hotel Group, the borrower, acquired the 224-room property in 2015 and extensively renovated

JSM Acquires Former Kmart Store in Zion, Illinois for $2.3M

ZION, ILL. — JSM Venture Inc. has acquired a former Kmart store located at 3355 Sheridan Road in Zion for $2.3 million. JSM plans to convert the 90,426-square-foot building into a self-storage facility with 69,750 rentable square feet. Of the 619 total units, 96 percent are expected to be climate-controlled. Patrick Turner and Brendan Green of Colliers International represented JSM. Paine/Wetzel represented the seller, Amin & Shah Solutions LLC.

Darland Completes Headquarters for LGT Transport in Omaha

OMAHA, NEB. — Darland Construction Co. has completed the new headquarters for LGT Transport, a cryogenic transportation company. The 12,640-square-foot property includes 8,312 square feet of office space, which includes eight offices, a training center, conference room, driver’s lounge, workroom, exercise facility, break room and locker rooms. The remaining square footage houses the company’s two-bay service center. A 36,000-square-foot parking lot offers parking for up to 10 …

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