REBusinessOnline

Box Equities Purchases Two Distribution Centers in Missouri, Ohio Totaling More than 1 MSF

MISSOURI AND OHIO — Box Equities has acquired two distribution centers in Missouri and Ohio. The first property is a 900,000-square-foot center anchored by Home Depot in Missouri. The second asset is a 150,000-square-foot Pepsi distribution center in Ohio. Seller information and sales prices were undisclosed. New York-based Box Equities, which launched only eight months ago, now owns and manages more than 1.8 million square feet of industrial real

Investors Realty Brokers $20.3M Sale of Shopping Center Near Kansas City

INDEPENDENCE, MO. — Investors Realty Inc. has brokered the $20.3 million sale of Marketplace Shopping Center in Independence, just east of Kansas City. The 253,000-square-foot shopping center is 91 percent leased. Anchor tenant Price Chopper has occupied the property for 34 years. Other tenants include Petco, Big Lots, Viva Fashion and FedEx. Ember Grummons of Investors Realty represented the seller, a partnership between Walton Street Capital and NewQuest Epic. Grummons also procured the …

Becovic, Next Realty Acquire 232-Unit Apartment Portfolio Near Marquette University for $16.1M

MILWAUKEE — A joint venture partnership between Becovic and Next Realty has acquired a 14-building, 232-unit apartment portfolio within a one-mile radius of Marquette University in Milwaukee. The purchase price was $16.1 million. Units range from studios to four-bedroom floor plans. The portfolio was 95 percent leased at the time of sale. Taylor Grant of Park Equities represented the seller, Wiegand Enterprises LLC, which had owned the portfolio for roughly 20 years. Marquette University is …

Seven-Building Multifamily Portfolio Trades Hands in St. Paul, Minnesota

ST. PAUL, MINN. — A seven-building multifamily portfolio totaling 174 units has traded hands in St. Paul for an undisclosed price. Live Green Apartments sold the brownstone buildings to a private investor. The properties range in size from 12 units to 44 units and were built from 1911 to the 1920s. Ted Abramson, Drew Rafshol, Keith Collins and Abe Appert of CBRE Minneapolis Multifamily represented the seller, which invested significant capital over the last several years to update roofs, …

BDC Group Moves into New 25,000 SF Headquarters in Hiawatha, Iowa

HIAWATHA, IOWA — BDC Group Inc. has moved into its newly constructed headquarters at 1525 Ketelsen Drive in Hiawatha, a northern suburb of Cedar Rapids. The 25,000-square-foot facility features a mix of office, warehouse and flex space. The property will enable BDC to consolidate its Iowa operations teams from multiple facilities in Cedar Rapids. Erica Seelman of GLD Commercial represented BDC throughout the site selection process and lease negotiations. BDC, otherwise known as Building …

Kraus-Anderson Begins Construction of $20M Senior Living Facility in Sparta, Wisconsin

SPARTA, WIS. — Kraus-Anderson has begun construction of Rolling Hills, a $20 million senior living and rehabilitation center located at 14400 County Highway B in the western Wisconsin community of Sparta. Designed by Community Living Solutions LLC, the 80,000-square-foot property will feature 50 skilled nursing beds, 24 CBRF assisted living units and 24 RCAC assisted living apartments. CBRF refers to community-based residential facility, which is a place where five or more unrelated people …

HVAF of Indiana, Woda Cooper Break Ground on 61-Unit Affordable Housing Community in Indianapolis

INDIANAPOLIS — Co-developers HVAF of Indiana and Woda Cooper Cos. Inc. have broken ground on Proctor Place, a 61-unit affordable housing community in Indianapolis. The $12.6 million, three-story project is located at 240 N. Warman Ave. on the Central Greens campus just west of downtown. Units will be designated for renters who earn 30 to 80 percent of area median income. Monthly rents will range from $461 to $1,035, depending on the size of unit and income restrictions. Amenities will include …

Colliers Brokers Sale of Historic Office Building in Downtown Indianapolis

INDIANAPOLIS — Colliers International has brokered the sale of The Academy Building in downtown Indianapolis for an undisclosed price. The historic office building, located at 429 E. Vermont St., rises four stories and spans 30,436 square feet. Built in 1911 as the girl’s school St. Mary’s Academy, the property is now 87 percent occupied by 21 tenants. Alex Cantu and Alex Davenport of Colliers represented the seller, The Health Foundation of Greater Indianapolis. Indianapolis-based Shook …

Walker & Dunlop Provides $12.2M Loan for Refinancing of Townhome Property in Metro Grand Rapids

LOWELL, MICH. — Walker & Dunlop Inc. has provided a $12.2 million Fannie Mae loan for the refinancing of Townhomes at Two Rivers in Lowell, located about 17 miles east of Grand Rapids. The 80-unit property features amenities such as a fitness center, enclosed dog park, covered picnic area and access to walking trails. Benjamin Krosin of Walker & Dunlop originated the 10-year loan on behalf of the borrower, Forest Hills Homes. Kari Zapolski of Inner Circle Holdings arranged the

Meridian Design Build Completes Industrial Build-to-Suit for XTRA Lease in Joliet, Illinois

JOLIET, ILL. — Meridian Design Build has completed an industrial build-to-suit for XTRA Lease on a 15-acre site within Ketone Business Center in Joliet. Located at 3000 Channahon Road near I-80 and I-55, the facility will serve freight haulers in central and northeastern Illinois. The project includes two service bays and 4,191 square feet of office space. Verve Design Studio provided architectural and structural design services. Jacob & Hefner Associates was responsible for the civil …

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