REBusinessOnline

Midwest

Harrison Street Acquires 600-Bed Student Housing Property at Marquette University

MILWAUKEE — Harrison Street Real Estate Capital has acquired The Marq, a 600-bed student housing property at Marquette University in Milwaukee. The purchase price was not disclosed. The 231-unit property also includes over 2,450 square feet of retail space. Capstone On-Campus Management will manage the property in a shared governance arrangement with Marquette University. As part of the acquisition, the Marq will undergo a $1.5 million renovation to be completed in time for the fall 2018..

October 18, 2017

Woda Group to Convert Historic Building Into $16.7M Mixed-Use Development in Lima, Ohio

LIMA, OHIO — The Woda Group Inc., in partnership with the city of Lima, has unveiled plans to convert the historic Lima Trust Co. building into 43 Towne Square, a $16.7 million mixed-use development featuring housing and office space. Built in 1926, the former First National Bank & Trust building is listed on the National Register of Historic Places. The 12-story building will be converted into 47 apartment units, 37 of which will be designated as affordable housing. The property will..

October 18, 2017

AtWater Group Purchases 81,932 SF Office Building Near Minneapolis

GOLDEN VALLEY, MINN. — AtWater Group LLC has purchased Valley Square Corporate Center in Golden Valley, a western suburb of Minneapolis, for an undisclosed price. The 81,932-square-foot office building is located at 7500 Olson Memorial Highway. Amenities include a three-story atrium, training room, recently renovated common areas and heated underground parking. AtWater will act as asset manager on behalf of Concorde Properties Group, an affiliate of AtWater Group. Cushman & Wakefield..

October 18, 2017

LM Commercial Brokers $2.2M Sale of Industrial Property in Cicero, Illinois

CICERO, ILL. — LM Commercial Real Estate has brokered the sale of an 86,670-square-foot industrial property in Cicero for $2.2 million. The property, which sits on 5.5 acres at 1410 S. 55th St., consists of two industrial buildings, six drive-in doors, three rail entry points, railcar storage capabilities and outside storage. Mike Merry and Brian Wabick of LM Commercial brokered the sale on behalf of the undisclosed seller. Peter Bourke and Vern Schultz of Colliers International represented..

October 18, 2017

CBRE Arranges Sale of 44,000 SF Medical Office Property in Schaumburg, Illinois

SCHAUMBURG, ILL. — CBRE has arranged the sale of the American Academy of Dermatology (AAD) headquarters in Schaumburg for an undisclosed price. The 44,000-square-foot medical office property is located at 930 E. Woodfield Road. The association will remain in the property through a short-term leaseback, then relocate to a new 41,459-square-foot office at O’Hare Gateway Center in Rosemont next spring. The association has a membership base of 19,000 physicians worldwide. Peggy McTigue and..

October 18, 2017

PREMIER Breaks Ground on 323,343 SF Distribution Warehouse in Cicero, Illinois

CICERO, ILL. — PREMIER Design + Build Group LLC has broken ground on a 323,343-square-foot distribution warehouse in Cicero, about eight miles southwest of downtown Chicago. Bridge Point 290 will feature 50 exterior truck dock positions, 36-foot clear heights, 273 vehicle parking spots and 77 trailer stalls. Bridge Development Partners LLC is the project developer. The project team also includes architect Cornerstone Architects Ltd., civil engineer SPACECO Inc. and structural engineer Swift..

October 17, 2017

Avison Young Arranges Sale of 93,903 SF Medical Office Building in Lake Bluff, Illinois

LAKE BLUFF, ILL. — Avison Young has arranged the sale of the Carriage Point Medical Complex in Lake Bluff, about 35 miles north of Chicago. The sales price was not disclosed. The 93,903-square-foot medical office building is located at 101 Waukegan Ave. Anchored by Fresenius Medical Care, the property is 100 percent leased to several regional healthcare providers. Erik Foster, Mike Wilson and Tim Henry of Avison Young represented the seller, Franklin Partners. J. Emil Anderson & Sons Co.,..

October 17, 2017

NorthMarq Arranges $2.8M Refinancing of Apartment Property in Lawrence, Kansas

LAWRENCE, KAN. — NorthMarq Capital has arranged a $2.8 million loan for the refinancing of Jacksonville Apartments in Lawrence, about 40 miles west of Kansas City. The 88-unit apartment property is located at 700 Monterey Way. Brent Blake of NorthMarq arranged the 10-year loan through Freddie Mac’s small balance loan program.

October 17, 2017

Books & Brews to Open at University of Indianapolis

INDIANAPOLIS — Books & Brews Used Bookstore and Taproom has signed a 4,600-square-foot retail lease at the University of Indianapolis. Redevelopment of the property, located at 3808 Shelby St., will begin this fall. Books & Brews will be the only restaurant and brewery on campus, according to a news release. Crystal Kennard, Scot Courtney and Richard King III of Lee & Associates represented the landlord, Oakbridge Properties, in the lease transaction. Robb Day of Coldwell Banker..

October 17, 2017

Millennium Brokers $1.7M Sale of Apartment Complex in Cicero, Illinois

CICERO, ILL. — Millennium Properties R/E has brokered the sale of a 38-unit apartment complex in Cicero, a western suburb of Chicago, for $1.7 million. The property, located at 1930 S. Cicero Ave., features 32 two-bedroom units and six one-bedroom units. The building was 95 percent occupied at the time of sale. Michael Mintz of Millennium Properties was the sole broker for the transaction. Neither the buyer nor the seller was disclosed.

October 17, 2017