LAKE BLUFF, ILL. — Quantum Real Estate Advisors Inc. has arranged the $1.5 million sale of a single-tenant retail building occupied by Sherwin Williams in Lake bluff, about 35 miles north of Chicago. The 3,799-square-foot building is located at 545 Rockland Road. Sherwin Williams has a 10-year lease at the property. A private real estate investor based in suburban Chicago purchased the asset. Chad Firsel of Quantum represented the seller, a Chicago-based acquisition and development company.
BLOOMFIELD HILLS, MICH. — Vision Growth Partners has entered into an agreement to acquire 65 salons in Michigan from Regis Corp. (NYSE: RGS). The store acquisitions will take place in small groups and will be completed by spring 2019. Financial terms of the transaction were not disclosed. The stores are currently branded as BoRics, Hair Masters and Fiesta Salons, but will transition into Supercuts franchises upon acquisition. The agreement also includes 13 existing Supercuts corporate stores. Super C Group LLC, an entity managed by Vision Growth Partners, will operate the salons. In addition to the acquisitions, Super C Group plans to open 10 new Supercuts locations in Michigan over the next several years, making the entity the largest Supercuts franchisee in the Midwest. “We are very excited to enter the salon space in a significant way in our home state of Michigan,” said Michael Sarafa, managing partner of Vision Growth and Super C Group. “Regis is a great partner with great employees, and we look forward to growing the Supercuts brand and building a culture of teamwork and success.” Over the next 10 months, Super C Group will renovate the acquired properties. The investment level will vary by location, but Crain’s …
PRAIRIE VILLAGE, KAN. — Developer VanTrust Real Estate LLC has opened The Kessler Residences in Prairie Village’s Meadowbrook Park. The 282-unit luxury apartment community features amenities such as a clubhouse, fitness center, private dining room, outdoor kitchen and walking trails. Floor plans range from studios to three-bedroom units. Monthly rents start at $1,281. Pinnacle Property Management Services LLC is managing the property. Meadowbrook Park was formerly a golf and country club.
COLUMBUS, OHIO — EFL Expo Freight and TwinMed LLC have signed new leases at CreekSide Industrial Center in Columbus. The Pizzuti Companies and USAA Real Estate own the property. EFL Expo Freight has leased an additional 84,916 square feet at CreekSide XVI for a total lease of 155,871 square feet. TwinMed has leased 101,000 square feet at CreekSide XVI and XVIII. With warehouses in nine states throughout the country, TwinMed is a distributor of medical supplies. Mike Spencer of Lee & Associates represented EFL Expo Freight in the lease transaction, while Joel Yakovac of Colliers International represented TwinMed. Phil Rasey of Pizzuti represented ownership in both lease transactions.
ST. PAUL, MINN. — U.S. Bancorp Community Development Corp. has provided $5 million in construction financing for Junior Achievement of the Upper Midwest’s new learning center in St. Paul’s Midway district. The 50,000-square-foot facility will double the organization’s teaching capacity to 34,000 middle and high school students each year. The federal New Markets Tax Credit from U.S. Bank is part of Junior Achievement’s $20 million fundraising effort. The new center will house a business incubator for high school student entrepreneurs, a telecommunications and distance-learning hub to teach students across three states and better public transportation access via the Green Line. Completion is slated for this November. The organization currently operates out of Maplewood, Minn.
LINCOLN, NEB. — NorthMarq Capital has arranged a $3.5 million loan for the refinancing of Lincolnshire Office Park in Lincoln. The four-building property spans 52,620 square feet and is located at 1530 S. 70th St. Steve Ruff of NorthMarq arranged the loan, which is fully amortized over 18 years. A life insurance company provided the loan. The borrower was not disclosed.
OVERLAND PARK, KAN. — Parisi Café and Evolve Juicery & Kitchen have signed leases to occupy a combined 4,135 square feet of ground-level retail space at The Vue in Overland Park. Hunt Midwest is developing the $49 million apartment project. Parisi will occupy 2,293 square feet, including a 400-square-foot outdoor patio. Upon opening in early 2019, the café will serve espresso and coffee drinks, pastries, sandwiches and soups. This is the brand’s second location in metro Kansas City. Evolve will offer a selection of freshly prepared meals, side dishes and organic juices in its 1,842-square-foot space. The Vue will include 219 apartment units above 8,650 square feet. Residents are scheduled to begin moving into the property in December.
ST. LOUIS — Tarlton Corp. has completed a $28 million renovation of two historic buildings that formerly housed Shriners Hospital for Children and Central Institute for the Deaf in St. Louis. The general contractor converted the adjacent buildings into a 160-unit apartment property known as The Core Apartment Residences. Amenities include common kitchens, a community room, game room, media lounge, fitness center and music practice space. The scope of work included restoring the existing masonry facade, window repair or replacement, installation of new mechanicals, plumbing, electrical systems and fire protection, paving and landscaping. The Shriners and CID buildings, both of which originally opened in the 1920s, are listed on the National Register of Historic Places. BOBB was the developer and Lawrence Group served as the project architect.
WOODRIDGE, ILL. — North American Real Estate (NARE) has acquired Woodgrove Festival in Woodridge, about 29 miles west of Chicago, for $20 million. The 157,276-square-foot retail center is situated on 15 acres at 1001 W. 75th St. Completed in 1985 and renovated and expanded in 2010, the property is 88.3 percent leased to tenants such as Hollywood Blvd. Cinema, Five Below, Carter’s, Shoe Carnival, Pearle Vision, Starbucks, T-Mobile, Carrabba’s Italian Grill, Jameson’s Charhouse and Panera Bread. Amy Sands and Clinton Mitchell of HFF represented the seller, Kimco Realty Corp.
STREAMWOOD, ILL. — Expeditors International has signed a 423,726-square-foot industrial lease to fully occupy a warehouse in Streamwood, a northwest suburb of Chicago. A joint venture between Opus Development Co. LLC and USAA Real Estate own the property, which is situated on 35 acres near the Elgin O’Hare Expressway. Building features include a clear height of 32 feet, 48 exterior truck docks, 55 trailer parking stalls and 193 car parking spaces. The build-out for Expeditors International, a logistics company that specializes in warehousing and distribution services, is slated for completion this fall. Doug Pilcher, Jason West and Sean Henrick represented the tenant in the lease transaction. David Prell and Kevin Segerson of CBRE represented the landlord.
