PEKIN, ILL. — Mattress Liquidators has relocated to a former Bergner’s department store at East Court Village in Pekin within central Illinois. The mattress store, previously located at 3518 Court St. within the shopping center, has moved to the former Bergner’s space at 3536 Court St. Mattress Liquidators now occupies the entire 82,100-square-foot space and opened its doors on Thursday, Dec. 12. Mattress Liquidators offers name-brand mattresses at significant discounts by purchasing overstocks and year-end models. The East Court Village store will also sell furniture and major appliances. The store is open Thursday through Sunday each week. Cullinan Properties Ltd. owns and manages East Court Village.
CHICAGO — CIM Group has sold its interest in Marquee at Block 37, a 34-story, 691-unit multifamily tower in downtown Chicago, for $265 million. Morguard North American Residential REIT (TSX: MRG.UN), a subsidiary of Morguard Corp., acquired the 51 percent interest. The community offers a mix of studio, one-, two- and three-bedroom floor plans ranging from 650 to 2,100 square feet. Communal amenities include an outdoor pool, sundeck, fire pits, rooftop hot tub, dog run, dog washing station, fitness center, event room, business center and an outdoor terrace overlooking State Street. Ontario, Canada-based Morguard Corp. was CIM’s investment partner for Marquee at Block 37, and as such already owned a 49 percent stake in the development. Morgaurd Corp. and Morguard REIT now have an equal partnership in the property. CIM developed the community in 2016 above the four-story Block 37 shopping center at 25 W. Randolph St. The 275,000-square-foot retail property includes shopping, dining and entertainment options, including an 11-screen AMC Dine-In Theatre, to which residents of Marquee at Block 37 have private elevator access. The transit-oriented property is connected to the Loop, granting residents direct access to the red and blue CTA lines as well as the city’s pedway …
CHICAGO, INDIANAPOLIS, COLUMBUS AND MILWAUKEE — Starwood Real Estate Income Trust Inc., a non-traded real estate investment trust managed by Starwood Capital Group, has acquired a 33-property industrial portfolio totaling 4.1 million square feet in the Midwest for approximately $319.6 million, excluding closing costs. The properties are located in Chicago, Indianapolis, Columbus and Milwaukee. The portfolio is 98 percent leased to 50 tenants. It is largely comprised of light industrial buildings of less than 250,000 square feet. Kurt Sarbaugh, Robin Stolberg, Michael Joseph and Dominic Espinosa of JLL represented the seller, Becknell Industrial and a joint venture partner. Becknell will retain its position in the portfolio. Ken Martin, Alex Witt, Troy Shiley and Nelson Almond of JLL arranged a 10-year, $210 million fixed-rate CMBS loan with a global investment bank on behalf of new ownership.
CHICAGO — Krusinski Construction Co. has completed a 90,000-square-foot buildout for 86 Food Service at 1400 W. 43rd St. in Chicago. The distributor of wholesale food and supplier of fresh produce, meat, poultry and dry goods to restaurants and grocery stores occupies the space within an existing 167,000-square-foot, speculative warehouse previously built by Krusinski. The buildout for 86 Food Service included the installation of cold storage refrigeration, freezers and a retail component to serve its customer base. Additional features include 7,500 square feet of office space, 50 new car parking stalls, one drive-in door and a clear height of 32 feet. Prologis served as developer with Cornerstone Architects Ltd. as architect and Grivas-Krause Associates Ltd. as structural engineer.
VILLA PARK, ILL. — Adelphia Properties has brokered the sale of a 5,400-square-foot restaurant building in Villa Park, about 20 miles west of Chicago. The sales price was undisclosed. The vacant property, formerly occupied by Park West Pancake House, is located at 10 E. Roosevelt Road. George Spirrison and Simeon Spirrison of Adelphia represented the seller, a Chicago-based private investor. The buyer was also a Chicago-based private investor.
DOWNERS GROVE, ILL. — Colorado-based KORE Investments has acquired Esplanade II, a Class A office building totaling 583,982 square feet in the Chicago suburb of Downers Grove, for $128.5 million. Located at 3500 Lacey Road, the property is situated on 19 acres of the Esplanade office campus at the convergence of I-355 and I-88 in the East-West Corridor submarket. Building amenities include a deli, conference facility, parking deck and car wash service. Additional campus amenities include an on-site daycare and a fitness center. A Doubletree Hotel is also located on the campus, and a shuttle service offers transportation to the nearby Metra BNSF Line Belmont Station. The property offers direct access to the Oak Brook and Yorktown retail corridors. At the time of sale, Esplanade II was 96.9 percent leased to tenants including Cooper’s Hawk Winery & Restaurant, Kia Motors and Glanbia Performance Nutrition. Skidmore Owings Merrill designed the building, which was originally built in 1992 and has undergone more than $7.4 million of capital improvements since 2014. Patrick Shields, Jeff Bramson, Jaime Fink, Sam DiFrancesca and Bruce Miller of JLL represented the seller, BentallGreenOak’s U.S. Core Fund. — Alex Patton and Kristin Hiller
CHICAGO — First Logistics, an Illinois-based third-party logistics company, has signed a 108,343-square-foot lease expansion at Marina Crossings in Chicago. The company now occupies 439,754 square feet of the 633,059-square-foot facility. Completed in the fourth quarter of 2018 and located at 2075 W. 43rd St., Marina Crossings is the city of Chicago’s largest speculative industrial building since 1905, according to Cushman & Wakefield. Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire of Cushman & Wakefield represented the landlord in the lease negotiations. Marina Crossings Owner LLC, a joint venture between MAT LP and institutional investors advised by JP Morgan Asset Management owns the property.
CHICAGO — NAI Hiffman has negotiated the sale of a 128,000-square-foot industrial building located at 5200-5230 W. Roosevelt Road on Chicago’s West Side. The sales price was undisclosed. Built in 1946, the distribution warehouse is fully occupied by Packaging Corp. of America. It features seven loading docks, one drive-in door and clear heights ranging from 12 to 18 feet. Joe Bronson, Josh Will and Aimee Goudas of NAI Hiffman represented the owner, Rola Corp. The team also procured the buyer, Clear Height Properties.
CHICAGO — American Library Association (ALA) has sold its headquarters buildings at 50 E. Huron St. and 40 E. Huron St. in Chicago’s River North neighborhood. Neither the buyer nor the sales price were disclosed. In spring 2020, ALA will move its office to Michigan Plaza at 225 N. Michigan Ave. Until then, ALA staff will continue to occupy the adjoined, 98,000-square-foot buildings on Huron. ALA says the move will provide it with modernized workspace and enhanced meeting space. Architecture firm Nelson is designing the new office buildout. ALA began occupying space at 50 E. Huron in 1963 before building an extension and opening 40 E. Huron in 1981. The two connected buildings have housed the association’s staff ever since.
COLLINSVILLE, ILL. — Marcus & Millichap has negotiated the sale of a Stowaway Self Storage facility in Collinsville, east of St. Louis. The sales price was undisclosed. Located at 1 Business Center Court, the property spans 44,038 square feet with 354 units. It features a variety of unit types ranging from five to 60 square feet in size. Britney Hendricks and Sean Delaney of Marcus & Millichap marketed the property on behalf of the seller, an individual trust. The team also procured the buyer, a private investor.