Midwest

Kraus-Anderson Completes Construction of $45M High School in St. Peter, Minnesota

by Kristin Harlow August 30, 2017

ST. PETER, MINN. — Kraus-Anderson Construction Co. has completed St. Peter High school in St. Peter, about 65 miles south of Minneapolis. The $45 million, 183,500-square-foot school features a 720-seat auditorium, learning resource center,classrooms, science rooms, special education rooms, media center and video production studios. A large commons area serves as a lunchroom and meeting space. Athletic additions include a new gymnasium with three basketball courts, multi-purpose activity center, fitness room, eight tennis courts, baseball field, softball field, six multi-purpose athletic fields and locker rooms. ISG Architects designed the two-story building.

August 30, 2017

DSCDO Breaks Ground on 40-Unit Affordable Housing Property in Cleveland

by Kristin Harlow August 30, 2017

CLEVELAND — Detroit Shoreway Community Development Organization (DSCDO), along with funders Enterprise Community Partners and the Ohio Housing Finance Agency, have broken ground on Aspen Place, a 40-unit affordable housing property in Cleveland. The 49,000-square-foot, $10.5 million development will serve households making between 30 and 60 percent of the area median income. Completion is slated for September 2018. The transit-oriented development is being built in partnership with the Greater Cleveland Regional Transit Authority to provide free transit/bus passes for residential tenants. Enterprise Community Loan Fund and Enterprise Community Investment, both subsidiaries of Enterprise, provided $250,000 in pre-development capital and $8.7 million in equity. Aspen Place was one of seven developments in the country to receive Enterprise’s inaugural pre-development design grant. Other partners and providers of project funding include KeyBank, the Ohio Housing Finance Agency, the City of Cleveland, Cuyahoga County, and the Finance Fund. Marous Brothers Construction will serve as the design builder. DSCDO will own and manage the property.

August 30, 2017

Indiana Loans Midwest Ohio Retail

NorthMarq Arranges $7M Refinancing for Retail Portfolio in Indiana and Ohio

by Kristin Harlow August 30, 2017

INDIANA AND OHIO — NorthMarq Capital has arranged a $7 million loan for the refinancing of Creekstone retail portfolio, a collection of retail properties totaling 50,000 square feet in Indiana and Ohio. The properties include: 1310, 1665 and 1675 N. National Road in Columbus, Ind.; 909 DuPont Road in Fort Wayne, Ind.; and 4425 Feedwire Road in Centerville, Ohio. Noah Juran of NorthMarq arranged the 15-year loan, which features a 25-year amortization schedule. A life insurance company provided the loan.

August 30, 2017

Illinois Industrial Midwest

ML Realty Acquires 70,957 SF Industrial Building in Lincolnshire, Illinois

by Kristin Harlow August 30, 2017

LINCOLNSHIRE, ILL. — ML Realty Partners has acquired a 70,957-square-foot industrial building in Lincolnshire, a northern suburb of Chicago. The purchase price was not disclosed. A single tenant occupies the entire property, located at 500 Bond St. Jeff Devine, Steve Disse and Matthew Stauber of Colliers International represented the undisclosed seller in the transaction.

August 30, 2017

Midwest Missouri Retail

Block & Co. Brokers Sale of 65,000 SF Shopping Center in Raytown, Missouri

by Kristin Harlow August 30, 2017

RAYTOWN, MO. — Block & Co. Inc. Realtors has brokered the sale of Raytown Crossing shopping center in Raytown, a suburb of Kansas City. The sales price was not disclosed. The 65,069-square-foot center is located at 6715-6731 Blue Ridge Blvd. Tenants include Extreme Grand Prix Indoor Go Karting and Lonnie Bush Fitness. Bill Maas and Jay Friedman of Block & Co. negotiated the sale on behalf of the seller, CTA Properties LLC. The buyer was not disclosed.

August 30, 2017

Illinois Midwest Retail

Mid-America Brokers Sale of Mariano’s Ground Lease for $20M in Lombard, Illinois

by Kristin Harlow August 29, 2017

LOMBARD, ILL. — Mid-America Real Estate Corp. has brokered the sale of a Mariano’s ground lease in Lombard for $20 million. The 74,000-square-foot property is located at the intersection of Roosevelt and Finley roads. Mariano’s holds a 20-year ground lease corporately guaranteed by Kroger Co. Joe Girardi and Wes Koontz of Mid-America brokered the sale on behalf of the seller, Bradford Real Estate. A private investor purchased the property.

August 29, 2017

Illinois Industrial Midwest

Principle Completes 750,000 SF Industrial Facility in Channahon, Illinois

by Kristin Harlow August 29, 2017

CHANNAHON, ILL. — Principle Construction Corp. has completed a 750,000-square-foot industrial facility in Channahon. The building, which sits on a 34-acre site, is the first building in the new Channahon Corporate Center, developed by IDI Gazeley. Building A features 86 dock doors, parking for 440 vehicles, 192 trailer parking spaces, an ESFR sprinkler system and a 185-foot concrete truck court. Principle will continue to build out infrastructure for the remaining 72 acres of the park. Jim Brucato, Darrin Dehmlow and Doug Brucato of Principle oversaw the project. Sparks Architects Inc. designed the site, while Jacob & Hefner was the civil engineer.

August 29, 2017

Midwest Net Lease North Dakota Retail

The Boulder Group Arranges $4.8M Sale of Property Net Leased to Shopko in Stanley, North Dakota

by Kristin Harlow August 29, 2017

STANLEY, N.D. — The Boulder Group has arranged the sale of a single-tenant property net leased to Shopko Hometown in Stanley, located in northwestern North Dakota, for $4.8 million. The 26,004-square-foot property is located at 702 Westview Lane. There are over 13 years remaining on the Shopko lease, which expires in November 2030. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate institution. A Southwest-based real estate investment firm purchased the property.

August 29, 2017

Illinois Midwest Mixed-Use

Interra Brokers $3.1M Sale of Mixed-Use Property in Chicago

by Kristin Harlow August 29, 2017

CHICAGO — Interra Realty has brokered the sale of a 13-unit mixed-use property in Chicago’s Pilsen neighborhood for $3.1 million. The property, which comprises 12 residential units and one street-level retail space, is located at 1157 W. 18th St. The building underwent a full renovation in 2016, including all new kitchens and baths. The 2,300-square-foot retail space has a new facade with large windows, exposed brick walls, high ceilings and access to additional basement storage. Jeremy Morton and Ted Stratman of Interra represented both the undisclosed buyer and the seller, a local development group. At $238,462 per unit, this was the second highest price-per-unit sale in Pilsen history, according to Interra.

August 29, 2017

Midwest Ohio Retail

TNT Powerwash to Expand Operations in Sharonville, Ohio

by Kristin Harlow August 29, 2017

SHARONVILLE, OHIO — TNT Powerwash has unveiled plans to expand its operations in Sharonville. The company purchased a property located at 11910 Mosteller Road for $1 million with plans to demolish the existing truck terminal and redevelop the site. TNT plans to construct a new facility to house a truck dealership; maintenance, body and detail shop; and drive-thru truck wash. The $3.2 million project will create 20 new jobs, according to TNT. Erin Casey and John Gartner of Colliers International represented TNT in the transaction.

August 29, 2017

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