BLOOMFIELD HILLS, MICH. — Agree Realty Corp. has acquired six retail properties for $35.4 million and sold a shopping center in Marshall, Mich. The properties include an H-E-B grocery store in Brenham, Texas; a 24 Hour Fitness in Fort Worth, Texas; a Golden Corral restaurant in Springfield, Ill.; and Advanced Auto Parts stores in Lorai, Ohio; Tallahassee, Fla. And Alabama; and a Dollar General in Blacksburg, S.C. In addition, the Bloomfield Hills, Mich.-based company has sold Marshall Plaza, a Kmart-anchored shopping center, for $5.5 million.
OAK LAWN, ILL. — The Boulder Group has arranged the $10.7 million sale of a new single-tenant, triple-net-leased Walgreens property in Oak Lawn. The property is located at the southwest corner of 95th Street and Southwest Highway. The 61,909-square-foot Walgreens property replaces a previous Walgreens store that lacked a drive-thru. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller was a Midwest-based developer and the buyer was a Northeast-based family office. The 20-year lease features 11 five-year renewal option periods.
CHICAGO — Waterton Associates LLC has acquired Pensacola Place, a 264-unit mixed-use property in Chicago’s Uptown neighborhood. The seller was undisclosed. Built in 1981, the Stanley Tigerman-designed building includes a mix of studio, one- and two-bedroom apartments, as well as 12 two-bedroom townhomes overlooking the property’s fourth-level sundeck. The property includes more than 81,000 square feet of retail space anchored by a recently renovated Jewel-Osco grocery store on the lower level of the building. Waterton will make upgrades to individual residences and also plans to update the community’s common areas. Waterton will serve as the manager for the property.
ELDORADO, ILL. — BARBERMurphy Group has arranged the sale of a 40,000-square-foot, 24-unit apartment complex in Eldorado. The asset is located at 1901 Organ St. BONLUKE Apartments purchased the property for an undisclosed sales price. Jerry Hunt of BARBERMurphy Group represented the buyer and the undisclosed seller.
AURORA, ILL. — The Chicago office of Duke Realty Corp. is developing a 242,372-square-foot, build-to-suit corporate headquarters and warehouse for Shorr Packaging Corp, a distributor of packaging products, equipment and services. The new facility is being constructed on 13 acres in Butterfield Corporate Park, Duke Realty’s multi-building industrial campus located off I-88 in Aurora. Shorr Packaging will consolidate operations from a 120,000-square-foot building it owns in Meridian Business Park, a 34,000-square-foot space in the Meridian Business Park it leases from Duke Realty and 36,127 square feet it leases in another building in Aurora. Trevor Ragsdale of JLL represented Shorr Packaging. Susan Bergdoll of Duke Realty, along with Traci Payette, David Prell and John Suerth of CBRE, represented Duke Realty. Construction on Shorr Packaging’s new facility in Butterfield Corporate Park is slated to begin this summer with delivery in spring 2016.
ZION, ILL. — Cohen Financial has arranged $9.2 million in acquisition loans through Pillar’s lending program for two multifamily properties in Zion. Dan Rosenberg of Cohen Financial’s Chicago office secured a $5.3 million loan for Country Chalet Apartments and a $3.85 million loan for Park Trails Apartments. The two properties purchased included a total of 247 units. The fixed-rate, 15-year loans include 30-year amortization schedules. The borrower is an affiliated entity of The Ferndale Realty Group LLC, a Chicago-based real estate investment company.
ELK GROVE VILLAGE, ILL. — Entre Commercial Realty has arranged the $2.3 million sale of a 41,600-square-foot industrial facility in Elk Grove Village. Horizon Logistics Inc., which is doing business as Seko Logistics, acquired the property located at 801 Lunt Ave. The free standing, single-tenant building is in close proximity to I-90, I-355 and O’Hare International Airport. Jonathan Kohn and Ron Behm of Colliers International represented the seller, Prologis. Tom Boucher and Dan Jones of Entre Commercial Realty represented Horizon Logistics. Seko Logistics is a 39-year-old global firm that specializes in transportation, logistics, freight forwarding and warehousing.
DES PLAINES, ILL. — Quantum Real Estate Advisors has brokered the $710,000 sale of retail building located at 804 S. Elmhurst Road in Des Plaines. Jewel-Osco and Fifth Third Bank shadow anchor the shopping center. A Bartlett, Ill.-based real estate investor sold the property. The buyer was a private real estate investor based in Northbrook, Ill. Chad Firsel of Quantum was the sole broker in the transaction.
CHICAGO — Reed Construction has completed a 20,000-square-foot renovation and expansion for Rise Interactive at 1 S. Wacker in Chicago. The build-out included the addition of an internal steel staircase with glass handrails, connecting the third and fourth floors, as well as the installation of a reclaimed wood barn door at the suite’s entry. In addition, two large meeting rooms were built-out and now feature a bar for internal company meetings and client entertainment. Reed Construction also built 10 additional private offices, eight conference rooms and two on-site cafés. Steve Sandquist was the project manager for Reed Construction. Hydzik Schade Associates provided architectural services. Rise Interactive is a digital marketing agency that specializes in traffic generation and web analytics.
DES PLAINES, ILL. — Bradford Allen Realty Services has arranged a lease renewal and restructure of 18,222 square feet for Ex Libris Group in Des Plaines. The library automation solutions company will occupy space in a 244,049-square-foot office space located at 1350 E. Touhy Ave., just north of the Allstate Arena, between I-90 and Mannheim Road. The property recently underwent renovations. Ben Azulay and Joel Berger represented the tenant. Fred Ishler of Transwestern represented ownership, Steinco Inc.