KILDEER, ILL. — SVN | Chicago Commercial has brokered the sale of a six-acre development site at 21481 N. Rand Road in Kildeer for $3.5 million. The purchaser plans to develop a 50,000-square-foot medical office building on the site located about 37 miles northwest of Chicago. Al Lindeman of SVN represented the undisclosed seller, while Avison Young represented the buyer.
POLAND, OHIO AND MADISON, WIS. — HREC Investment Advisors has arranged the sale of the 117-room Red Roof Inn in Poland, Ohio, and the 108-room Red Roof Inn in Madison, Wis. The properties were sold separately to different investors for undisclosed prices. Each hotel will undergo renovations. Herb Warmbrodt, Zane Varvel, Lewis Thompson, Tom Sommer and Jim Merkel of HREC represented the seller.
DETROIT — Metro Commercial Real Estate has negotiated two new locations for The EDGE Fitness Club in metro Detroit. The fitness club will occupy 37,000 square feet in Farmington Hills in a space formerly occupied by Kohl’s. The opening is scheduled for the fourth quarter of 2019. In Sterling Heights, EDGE will occupy 36,676 square feet in a space formerly occupied by Kroger. The opening is also slated for the fourth quarter of 2019. Brandon Anapol of Metro led the leasing team. EDGE facilities are accessible at all hours. Fitness classes, training, nutrition and weight loss support are available.
WINDSOR, CANADA — Detroit-based Quicken Loans and its family of affiliated companies has unveiled plans to open a new office location in the historic Old Fish Market Building in downtown Windsor, Ontario. The expansion into Canada will enable Quicken Loans to recruit top talent from Windsor, Toronto and Waterloo to support the growing need for additional technology talent, according to the company. Quicken Loans will lease more than 9,000 square feet of office space at the building, which is undergoing renovations that are expected to be completed in the first half of 2019. The company plans to grow the office to more than 100 tech workers.
DETROIT — Broder & Sachse Real Estate has reopened The Hamilton Midtown in Detroit. Originally designed as an apartment hotel that opened in 1913, the property now offers 97 apartment units. The $12 million rehabilitation of the property features new amenities, such as a lounge with gaming and other entertainment, living room with coffee station, fitness and wellness center, dog washing station, and bike repair station. The rehabilitation also included the restoration of the ballroom. Monthly rents start at $722 per month. Sachse Construction served as the construction manager and Hamilton Anderson Associates was the architect. The City of Detroit and United Community Housing Coalition helped create an inclusionary housing program for qualified residents so that, upon completion of renovations, more than 75 percent could return to the building at an affordable rental rate.
ST. LOUIS — Franklin Partners has acquired the 174,965-square-foot Corporate Hill IV office building in St. Louis for an undisclosed price. The six-story building was constructed in 1984 and renovated in 2015. Amenities include a full-service cafeteria, one loading dock and exterior balconies on the fifth and sixth floors. A single tenant previously occupied the property. TJ Redmond of CBRE represented the undisclosed seller. Mark Palmer and Artie Kerckhoff of CBRE represented Franklin Partners. The duo will also market the property for lease.
ITASCA, ILL. — J.C. Anderson has completed a 108,000-square-foot office and warehouse build-out for Glass Solutions Inc. in Itasca. The property is located at 960 Maplewood Drive. The scope of the project included a 23,000-square-foot office build-out and an 85,000-square-foot warehouse build-out. The office portion includes private offices, a collaboration area, executive conference room, break room and new locker rooms. The warehouse features new electrical, LED lighting and heating units. J.C. Anderson also reworked the dock and delivery areas to create a more efficient flow. Seth Erlich, Andrew Mott and Steve Perry of J.C. Anderson led the project team. Scot Ferguson of Antunovich Associates provided architectural services.
HUTCHINSON, KAN. — Arbor Realty Trust Inc. has provided a $1.6 million Fannie Mae loan for the refinancing of Sandhill Properties in Hutchinson, about 50 miles northwest of Wichita. The 48-unit, garden-style property features amenities such as a swimming pool, basketball court and carports. Eugene Yanovskiy of Arbor originated the 12-year, fixed-rate loan, which features a 30-year amortization schedule. The borrower was not disclosed.
WASHINGTON, D.C. — SIOR Foundation has announced Aaron Barnard as its new president for the 2018-2019 term. The transition from current president Bill Ginder to Barnard occurred last week at the Society of Industrial & Office Realtors (SIOR) Fall World Conference in Denver. Barnard is a veteran broker in Minneapolis with Cushman & Wakefield and specializes in investment analysis, tenant and landlord representation. Additional 2018-2019 SIOR Foundation officers are President-Elect Chris Curtis (Nugent Curtis Real Estate), Vice President Albert McNeel (Endura Advisory Group) and Treasurer Stan Kleweno (Transpacific Investments). New SIOR Foundation Trustees who began three-year terms at the latest conference include Nancy Morse (Newmark Knight Frank), Jack O’Donoghue (Grant Street Associates/Cushman & Wakefield Alliance), Adrian Arriaga (AAA Real Estate & Investments), Robert Horn Jr. (JLL), Jesse Laikin (Lee & Associates) and Peter Richardson (Primera Cos.). As the largest association of commercial real estate brokers, Washington, D.C.-based SIOR Foundation promotes and funds programs that advance the real estate profession through educational scholarships, research projects, publishing and development of real estate curricula for higher education.
DOWNERS GROVE, ILL. — Green Bay Packaging (GBP) has broken ground on a new 170,000-square-foot industrial complex in Downers Grove. The building will house a high-tech design department and enable the packaging company to expand warehouse capabilities. A timeline for construction was not disclosed. The Green Bay, Wis.-based company has manufacturing facilities in 14 states.
