CHICAGO — Summit Design + Build LLC has completed the renovation of a 13,000-square-foot retail building located at 1504 N. Fremont St. in Chicago. The project added space for up to three retail tenants and the creation of 11 new openings for storefront windows. Summit also poured new concrete floors for a future retail tenant and completed landscaping with a new sidewalk. L3 Capital LLC is the property owner. OKW Architects served as project architect.
FORT WAYNE, IND. — HREC Investment Advisors has arranged the sale of the 127-room Comfort Suites in Fort Wayne for $7.1 million. The limited-service hotel is located at 5775 Coventry Lane. Tom Sommer, Zane Varvel and James Robinson of HREC represented the seller, Condor Hospitality Trust (NYSE American: CDOR). Akram Namou of Fort Wayne Hotel Group purchased the asset. He owns three other full-service and extended-stay hotels in the Fort Wayne market.
LENEXA, KAN. — Rudy’s Tenampa Taqueria has signed a lease to open its second location at 8710 Lackman Road in Lenexa. The Mexican restaurant will occupy 4,678 square feet at Country Hill Shopping Center. Other tenants at the property include Rimann Liquors, Ace Hardware, Panera Bread and Sherwin Williams. The original Rudy’s opened in Kansas City in 1993. The opening for the new restaurant is scheduled for mid-August. David Block and Rob Epstein of Block & Co. Inc. Realtors negotiated the lease transaction. Block & Co. is the leasing and property management company for the shopping center.
ADDISON AND GLENDALE HEIGHTS, ILL. — Darwin Realty has brokered the sale of two industrial buildings in Illinois. Westwind Industrial, a general contractor specializing in medical, industrial and commercial property reutilization, purchased a 37,560-square-foot property in Addison for $2 million. The seller, AIM Inc., will leaseback the facility. Noel Liston and Nick Krejci of Darwin brokered the transaction. The duo also represented Comtelco Industries in its sale of a 13,500 square-foot facility in Glendale Heights. IVM Chemicals Inc. purchased the property for just under $1 million. G. Pat Ryan of Combined Commercial Realty represented IVM, which is a European-based distributor of industrial chemicals and pesticides.
CHICAGO — The Howard Hughes Corp. and Riverside Investment & Development, along with Clark Construction, have broken ground on 110 North Wacker, a 1.4 million-square-foot office tower in the heart of Chicago’s central business district. More than 30 percent of the 55-story tower is preleased to Bank of America. Designed by Goettsch Partners, the Class A building is located between the Chicago River and Wacker Drive. Amenities will include a conference center, fitness facility, retail and dining space. Bank of America and JP Morgan Chase provided a $495 million construction loan. USAA Real Estate also provided an equity investment. Completion is slated for the fourth quarter of 2020.
CHICAGO — Taurus Investment Holdings LLC has acquired a 2.9 million-square-foot industrial portfolio in metro Chicago for $201 million. The purchase was the final investment for the company’s US Logistics Fund I LP. The portfolio includes 51 assets. Currently 91.5 percent occupied to tenants such as Amazon, Ryder and Armacell, the properties are located in 11 of the 19 Chicago industrial submarkets, according to Taurus. CBRE and Capital One advised Taurus on the transaction. Venture One Real Estate was the seller.
NEW ALBANY, IND. — The Sazerac Company has purchased the former General Mills Pillsbury plant in New Albany near Louisville. The seller was a joint venture between New Mill Capital Holdings LLC and Tiger Group. Sazerac, a distilling company, intends to utilize the 460,000-square-foot plant for expansion of its processing, blending, packaging and distribution capabilities. Sazerac plans to invest $66 million and eventually create more than 100 jobs. The facility, located at 707 Pillsbury Lane, closed in 2016. Sazerac anticipates starting operations as early as this November.
CHICAGO — J.C. Anderson Inc. has completed a 26,000-square-foot office build-out for Fitch, Even, Tabin & Flannery LLP in Chicago. The law firm chose to modernize its space on the 21st floor at 120 S. LaSalle St. The project features a new reception desk, open ceilings and private offices. Renovations also include an open layout and technology upgrades. Partners by Design provided architectural services.
ROYAL OAK, MICH. — Colliers International has brokered the sale of a 15,067-square-foot retail building in Royal Oak, a northern suburb of Detroit. Previously owned by the family-run Superior Fish Co., the specialty seafood store was the source of octopus for Detroit Red Wings fans for over seven decades before closing on June 16. The company plans to host a garage sale where fans can purchase signage, memorabilia and frozen foods. Peter E. Kepic and Peter J. Kepic of Colliers represented Superior Fish in the sale. Robert Badgero and Steven Badgero of Colliers represented the buyer, Versa Real Estate, which plans to lease the property as either office or retail space.
MISSOURI — American Healthcare Investors and Griffin Capital Co. LLC, the co-sponsors of Griffin-American Healthcare REIT IV Inc., have entered into an agreement to acquire a portfolio of eight skilled nursing facilities throughout Missouri for $88.2 million. The undisclosed properties total 1,112 beds and approximately 384,000 square feet. The portfolio is fully leased under a 15-year absolute net lease. As of June 13, the REIT has acquired a 2.7 million-square-foot portfolio of 45 medical office buildings, senior housing facilities and skilled nursing facilities in 16 states.
