JOHNSTON, IOWA — R&R Realty Group has opened Residences at 62W in Johnston, about 10 miles northwest of Des Moines. The 137-unit apartment community features one-, two- and three-bedroom floor plans. The property, located on 62nd Avenue, features amenities such as a health center, yoga room, game room, pet spa and pool deck. West Des Moines, Iowa-based R&R Realty Group is a full-service real estate company with development, brokerage, construction and property management services.
JACKSON, MICH. — Home2 Suites by Hilton has opened in Jackson, about 35 miles south of Lansing, the capital of Michigan. The extended-stay hotel consists of 83 suites. Ontario Hospitality Inc. developed, owns and manages the property, which features fully equipped kitchens, complimentary Internet, breakfast, a combined laundry and fitness area, and indoor pool. The hotel is located at 2704 Bob McClain Drive off I-94.
MINNEAPOLIS — CBRE has arranged the sale of a 1.2 million-square-foot industrial portfolio in the Twin Cities metro area for $70.6 million. The portfolio, which features 14 buildings across seven properties, includes: Corporate Square in Eagan; Eagan Industrial Warehouse in Eagan; Braemar Business Center in Bloomington; Northpoint Industrial Center in Fridley; France Avenue Business Park in Brooklyn Center; Round Lake Business Center in Arden Hills; and Burnsville Business Center in Burnsville. The portfolio was 81 percent leased at the time of sale to tenants such as Ameriprise Inc., Staples, Supply Technologies LLC and Galil Medical Inc. Ryan Watts, Judd Welliver, Sonja Dusil and Tom Holtz of CBRE marketed the portfolio for sale on behalf of Artis REIT. Capital Partners LLP purchased the portfolio in a joint venture with PCCP LLC.
CLAYTON, MO. — The Opus Group has completed the development and construction of Ceylon Luxury Apartments in Clayton, a suburb of St. Louis. The apartment property features 120 units and first-floor retail space. Ceylon offers two amenity decks with a fitness center, conference room, coffee bar, game room and fire pit. Smoothie King will occupy 1,377 square feet of the retail space, which totals 13,297 square feet. Chris Zoellner and Jared Hancock of Balke Brown Transwestern are marketing the remaining retail space for lease. Opus Development Co. was the project developer and Opus Design Build was the design-builder. Opus AE Group served as architect, structural engineer and interior designer.
BOLINGBROOK, ILL. — Windy City Wire Cable and Technology Products LLC has signed an industrial lease renewal and expansion in Bolingbrook, a southwest suburb of Chicago. The cable management company now occupies the entire 247,500-square-foot facility, which is located at 386 Internationale Drive. The property features 30-foot clear heights, 42 exterior docks and nine drive-in doors. Kevin Mackey of TIG represented Windy City Wire in the transaction. ML Realty Partners is the property landlord.
CINCINNATI — KeyBank Community Development Lending & Investment has provided $8.3 million in acquisition financing for Morgan Apartments in Cincinnati. The 48-unit affordable housing property features six vacant buildings. All units are reserved for families earning between 30 and 60 percent of the area median income. Kelly Frank of KeyBank originated the financing on behalf of the borrowers, The Model Group Inc. and Over-the-Rhine Community Housing Inc (OTRH). The Morgan Apartments will offer early childhood education, before and after school care, credit counseling, financial literacy programs, education assistance, job training and placement assistance through OTRH. The Ohio Capital Corporation for Housing provided the low-income housing tax credits, federal historic tax credit and state historic tax credit equity for the project.
SIOUX CITY, IOWA — NorthMarq Capital has arranged a $6.7 million Freddie Mac loan for the refinancing of Glen Oaks Apartments in Sioux City. The 144-unit apartment property is located at 3800 Glen Oaks Blvd. Community amenities include a fitness center, swimming pool, sundeck, clubhouse, basketball and tennis courts. Jason Kinnison of NorthMarq arranged the loan for the undisclosed borrower.
DAVENPORT AND SIOUX CITY, IOWA — The Opus Group has signed contracts with the Iowa National Guard to design and construct two facilities for advanced training in both Davenport and Sioux City. The Iowa Air National Guard will use a 37,000-square-foot facility in Sioux City, while the Iowa Army National Guard will use an 87,000-square-foot building in Davenport. Both buildings will replace existing facilities with modern spaces, including dedicated areas for specific training programs and improved, more efficient flow for high-traffic areas like dining halls and medical clinics. Designed to meet the latest anti-terrorism force protection standards and LEED Silver certification, both facilities will include highly efficient mechanical systems and LED lighting throughout. The Sioux City facility will be a one-story space located on the current 185th Air Refueling Wing airbase. Designed to serve up to 500 airmen at a time, the building will include space for administrative offices, a dining hall that will be able to seat 180 people, a medical clinic, a kitchen and training rooms. Completion is scheduled for the end of 2018. The one-story Davenport building will feature a brick façade on the front and will be located on a 37-acre site along Highway 6/Kimberly Road …
BLOOMINGTON, MINN. — CBRE Hotels has brokered the sale of Park Plaza Hotel in Bloomington for an undisclosed price. The 209-room hotel is located at 4460 W 78th St. Circle. The property is located near the Mall of America and the Minneapolis-St. Paul International Airport. Nate Sahn of CBRE represented the seller, Hospitality Properties Trust. A joint venture between Hawkeye Hotels and JR Hospitality purchased the property with plans to renovate the hotel and relaunch it as a Courtyard by Marriott the end of next year, according to Minneapolis/St. Paul Business Journal.
OLATHE, KAN. — Block & Co. Inc. Realtors has negotiated the sale of Rosebud Plaza Shopping Center in Olathe for an undisclosed price. The 106,324-square-foot shopping center is located on the northeast corner of 135th Street and Mur Len Road. Hobby Lobby and Goodwill anchor the property, which sits on 8.2 acres. David M. Block and Jay Friedman of Block & Co. negotiated the sale on behalf of the seller, Sixteen Main Co. LLC. The buyer was not disclosed.
