Midwest

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.

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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.

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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.

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OVERLAND PARK, KAN. — PEBB Enterprises has purchased Pinnacle Village in Overland Park for an undisclosed price. The 126,909-square-foot shopping center is located at the intersection of Blue Valley Parkway and W. 119th Street. The property is currently 74 percent occupied by tenants such as DSW and Michaels. PEBB purchased the asset by acquiring the non-performing loan and foreclosing on the underlying collateral.

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DUBUQUE, IOWA — Marcus & Millichap has brokered the sale of Country Inn & Suites Dubuque for an undisclosed price. The 69-room hotel, built in 2000, is located at 1315 Associates Drive in eastern Iowa. Jon Ruzicka and Jake Erickson of Marcus & Millichap marketed the property for sale and procured the buyer. Neither the buyer nor the seller was disclosed.

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TRAVERSE CITY, MICH. — A partnership between JS Capitol and Hadidi Capital has sold the 107-room Hotel Indigo in Traverse City for an undisclosed price. The property, built in 2016, is located at 263 W. Grandview Parkway. Situated in the city’s waterfront Warehouse District, the hotel features heated underground parking, 5,500 square feet of meeting space, a ground-floor restaurant, business center and fitness center. Nate Sahn, James Johnson, Jack Johns and Anthony Leeds of CBRE represented the owners in the sale. The buyer was not disclosed.

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DARIEN, ILL. — Lee & Associates has brokered the $19.5 million sale of a 185,850-square-foot industrial building in Darien, a southwestern suburb of Chicago. Built on a speculative basis in 2017, the building is located at 7879 Lemont Road. Brian Vanosky, Tim McCahill and Jeff Janda of Lee & Associates represented the seller, Panattoni Development Co. Mike Plumb of Lee & Associates represented the buyer, a private investor. Tile distributor Tile & Top occupies a portion of the property. Lee & Associates will market for lease the remaining 116,043 square feet.

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INDIANAPOLIS — Colliers International has negotiated the sale of a two-building, 166,119-square-foot industrial portfolio in Indianapolis for $6.6 million. The properties, located within the Stout Field Industrial Park, are fully leased to Progressive Logistics and Micronutrients. Alex Cantu and Alex Davenport of Colliers brokered the transaction on behalf of the seller, Progressive Logistics. The O’Donnell Group Inc. purchased the portfolio. This is the first acquisition in the Indianapolis market for the California-based firm.

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CHICAGO — Newmark Knight Frank (NKF) has arranged the sale of a 106-year-old building and development site on Milwaukee Avenue in Chicago. The sales price was not disclosed. The site comprises a five-story, 26,700-square-foot building and 11,000 square feet of neighboring land. Jim Cummings and Brian Carroll of NKF represented the seller, Hollander Holdings LLC, a manufacturer of house furnishings. The Hollander family had owned the building ever since its construction in 1912 and used the property for storing archives. The buyer, GW Properties, plans to restore the building and develop a mixed-use property with office and retail space on the ground floor. Redevelopment plans also call for an apartment building.

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HARRISON, OHIO — Marcus & Millichap has brokered the $2.2 million sale of an 18,888-square-foot retail property net leased to Tractor Supply Co. in Harrison, about 20 miles northwest of Cincinnati. The property is located at 389 Comfort Drive near I-74. Tractor Supply Co. has operated at the building since 1999. Dan Yozwiak and Justin Fenn of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also represented the buyer, a limited liability company.

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