REBusinessOnline

Peppercorn Capital Unveils Renovation Plans for 80,000 SF Office Building in Chicago’s Fulton Market

CHICAGO — Peppercorn Capital has unveiled renovation plans for 240 N. Ashland Ave. in Chicago’s Fulton Market. Plans call for lighted metal canopies and uniform signage. The west side of the office building will feature a new tenant entrance and lighting, along with a repaved parking lot and green space. Originally built in 1926, the adaptive reuse property formerly served as the headquarters for furnishings and décor company CB2. The building rises three stories and spans 80,000 square …

Development, Illinois, Midwest, Office

Taubman Announces CFO Transition as Simon Leopold Departs Company

BLOOMFIELD HILLS, MICH. — The Taubman Co. LLC has announced that Executive Vice President and CFO Simon Leopold will depart the company effective Jan. 31. Benjamin Meeker, who currently serves as vice president, capital markets and treasurer, will be promoted to senior vice president, CFO and treasurer. Meeker will report to Robert Taubman, who is chairman, president and CEO. Leopold will remain an advisor to the company to assist with the transition. Taubman is engaged in the management and …

Michigan, Midwest, Retail

Marcus & Millichap Arranges $8.1M Sale of Shopping Center in Waterloo, Iowa

WATERLOO, IOWA — Marcus & Millichap has arranged the sale of Crossroads Commons in Waterloo for $8.1 million. The 85,987-square-foot retail property is located at 1403 Flammang Drive. It was fully leased at the time of sale to tenants such as Dick’s Sporting Goods, Party City and Five Below. Zach Turner, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap’s Patton-Wiles-Fuller Group marketed the property on behalf of the undisclosed seller. The team also secured the …

Acquisitions, Iowa, Midwest, Retail

90-Unit Independent Living Community in Minnesota Trades Hands

RED WING, MINN. — Downtown Plaza, a 90-unit independent living community in Red Wing, has traded hands for an undisclosed price. The property is located at 434 W. 4th St. along the Mississippi River in eastern Minnesota. Built in 1986, the community was renovated over the last several years. The ninth-floor community room received an extensive upgrade with new finishes and furniture. Other amenities include a recreation center, beauty and barber shop, dining room and fitness center. Ted …

Acquisitions, Midwest, Minnesota, Multifamily, Seniors Housing

Detroit Thermal Signs 14,700 SF Industrial Lease in Detroit

DETROIT — Detroit Thermal has leased a 14,700-square-foot industrial building in Detroit. The company delivers clean steam energy throughout the city and services more than 100 buildings. Greg Hornby of Friedman Real Estate represented the undisclosed landlord in the lease

Industrial, Leasing Activity, Michigan, Midwest

MedProperties Acquires 42-Bed Inpatient Rehab Facility in Fargo, North Dakota

FARGO, N.D. — MedProperties Realty Advisors has acquired a Post Acute Medical (PAM) inpatient rehab facility in Fargo for an undisclosed price. The 42-bed hospital spans 57,000 square feet. It is fully leased to PAM on an absolute net basis for 18 years. The property is the only inpatient rehab facility in the state, and it also serves portions of Minnesota and South Dakota, according to MedProperties. Siemens Financial provided debt for the acquisition. P.J. Camp and Mathew Tarpley of …

Acquisitions, Healthcare, Midwest, North Dakota

98,837 SF Shopping Center in Omaha Trades Hands for $12.7M

OMAHA, NEB. — The 98,837-square-foot 72nd Crossing Shopping Center in Omaha has traded hands for $12.7 million. Situated in the 72nd Street Corridor, the property was fully leased at the time of sale to tenants such as Michaels, PetSmart, Big Lots and Dunkin’. Ember Grummons of Investors Realty represented the seller, NewStreet Properties. Jason Taylor of Equity Management Group represented the buyer, Kentucky-based LVP Center

Acquisitions, Midwest, Nebraska, Retail

Affordable Housing Investment Brokerage Arranges $8.1M Sale of Levy House in Chicago

CHICAGO — Affordable Housing Investment Brokerage (AHIB) has arranged the sale of Levy House in Chicago’s East Rogers Park neighborhood for $8.1 million. AHIB partnered on the listing with Kiser Group. Kyle Shoemaker of AHIB represented the buyer, Preservation of Affordable Housing (POAH), as well as the seller, a nonprofit entity. Levy House is a 57-unit, seven-story apartment building that offers one-bedroom floor plans. POAH plans to preserve the property’s affordability status. POAH …

Acquisitions, Affordable Housing, Illinois, Midwest, Multifamily

Interra Realty Brokers $5.5M Sale of Two-Building Apartment Portfolio in Chicago’s South Shore

CHICAGO — Interra Realty has brokered the $5.5 million sale of a two-building apartment portfolio in Chicago’s South Shore neighborhood. The properties include the 30-unit 7646 S. Essex Ave. and the 33-unit 7800 S. Phillips Ave. The price per unit was $86,667. Both buildings were constructed in 1926 and offer a mix of one-, two- and three-bedroom floor plans. The properties were renovated to include in-unit HVAC, onsite laundry, key fob entry and security systems. They were 88 percent …

Acquisitions, Illinois, Midwest, Multifamily

Venture One Acquires 17,900 SF Industrial Building in Waukegan, Illinois

WAUKEGAN, ILL. — Venture One Real Estate has acquired a 17,900-square-foot industrial building located at 1161 S. Northpoint Blvd. in Waukegan for an undisclosed price. Constructed in 2000, the property was vacant at the time of acquisition. It features two exterior docks, one drive-in door, 2,476 square feet of office space and parking for 31 cars. Ralph Huszagh of JC Forney Realty Inc. represented the undisclosed seller and will be retained by Venture One to market the building for lease. …

Acquisitions, Illinois, Industrial, Midwest
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