ROCHESTER, MINN. — Dougherty Mortgage LLC has provided a $16.1 million HUD 221(d)(4) loan for the construction of Eastgate Apartments in Rochester. The 135-unit affordable housing property is slated to open in the summer of 2019. All units will be restricted to residents earning 60 percent or less of the area median income. In addition to the 40-year loan, the project will receive equity from the sale of low-income housing tax credits. BDKN LLLP was the borrower.
KEWANEE, ILL. — SVN | Chicago Commercial has brokered the $1.2 million sale of a five-property self-storage portfolio in Kewanee in northwestern Illinois. The portfolio spans 300 units and 47,000 square feet. The properties are located at 1313 W 6th St., 817 Lake St., 604 N. Tremont St., 1103 N. Main St. and 514 N. Spring St. (Atkinson, Ill.) The property mix includes four MidState Mini Storage buildings and one Pay & Store Self Storage building. David Coupe of SVN represented the undisclosed seller. A regional self-storage operator completing a 1031 exchange was the buyer.
ASHWAUBENON, WIS. — Infinity Machine & Engineering Corp. has renewed its 34,100-square-foot industrial lease at 995 Waube Lane in Ashwaubenon, just south of Green Bay. Scott Revolinski of Founders 3 Real Estate Services represented the landlord, LCM Funds Real Estate LLC, in the transaction.
WAUWATOSA, WIS. — Colliers International has negotiated a 19,773-square-foot industrial sale in Wauwatosa for an undisclosed price. The property is located at 11200 W. Watertown Plank Road. Pat Hake and Russ Sagmoen of Colliers brokered the transaction. DEP Investments LLC was the buyer, while the seller was undisclosed
ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of Priscilla Street Villas in St. Paul for $1.4 million. The 11-unit apartment building is located at 2333 Priscilla St. All of the units are two-bedroom units. Mox Gunderson, Dan Linnell, Josh Talberg and Evan Miller of Marcus & Millichap brokered the transaction. Both the buyer and seller were private investors.
GARDNER, KAN. — The Coleman Company Inc. has signed a 1.1 million-square-foot industrial lease renewal in Gardner, about 30 miles southwest of Kansas City. The property is situated on 25 acres at 17150 Mercury St. Built in 2009 as part of the Midwest Commerce Center, the warehouse features a clear height of 32 feet, 100 dock doors and parking for 300 trailers. Mark Long and John Hassler of Newmark Grubb Zimmer represented the owner, Gramercy Property Trust Inc., in the lease transaction. Coleman is an outdoor camping gear and equipment company.
PLYMOUTH, MINN. — Cantel Medical has signed a 160,000-square-foot lease for its regional headquarters in Plymouth, about 15 miles northwest of Minneapolis. The provider of infection prevention products will relocate from several sites throughout Plymouth to the four-story office building, which is located at 9800 59th Ave. Dave Paradise, Sydney Johnson and David Itzkowitz of Cushman & Wakefield represented the tenant in the lease transaction. Bob Revoir of Cushman & Wakefield represented the undisclosed landlord. Cantel Medical plans to occupy the space in the fourth quarter of this year.
SOUTH BEND, IND. — Asset Campus Housing has been awarded the management of two adjacent student housing properties in South Bend near the University of Notre Dame. The 221-bed Campus Court features a mix of one-, two- and three-bedroom units while the 330-bed Campus View features one- and two-bedroom units. Each community includes amenities such as a yoga studio, study room, game room, fitness center, outdoor grilling area and volleyball courts. Property owners were not disclosed.
WICHITA, KAN. — Contractor Rock Enterprises is converting a 12,674-square-foot historic building into a multi-tenant office and retail development. Built in 1911, the property is located at 930 W. Douglas Ave. in Wichita’s Delano District. Property suites will range from 1,200 to 3,500 square feet in size. The building will have a common kitchen, lounge area and conference room. Jeff Englert and Nathan Farha of NAI Martens, the leasing agents for the property, have negotiated leases for No Coast Salon and Point Guard Management. No Coast Salon will occupy 1,245 square feet of ground-floor retail space while property management firm Point Guard Management will occupy 1,337 square feet on the second level. 3 Ten studio is the architect for the project.
MUNDELEIN, ILL. — Entre Commercial Realty has negotiated a 30,000-square-foot industrial lease on behalf of Ancient Graffiti Inc. in Mundelein, a northern suburb of Chicago. The 60,000-square-foot distribution facility is located at 1700 S. Butterfield Road. Ancient Graffiti develops handcrafted garden and home décor. The company will be relocating from its current facility in Lake Zurich. Brian Bocci of Entre Commercial represented the tenant in the lease transaction. CBRE represented the undisclosed landlord.
