Midwest

Kemper Corp. Signs 65,000 SF Office Lease at Chicago’s Aon Center

by Kristin Harlow April 2, 2018

CHICAGO — Kemper Corp. has signed a 65,000-square-foot lease to occupy the 32nd and 33rd floors of Aon Center in Chicago. The insurance holding company is currently headquartered at 1 E. Wacker Drive. Aon Center, located at 200 E. Randolph St. at the head of Millennium Park, is undergoing a $25 million renovation to update lobbies, common areas and add more retail space. In 2015, 601W Cos. acquired the property, which was originally built in 1972. Matt Pistorio, Caroline Colnon and Steve Smith of The Telos Group LLC represented 601W in the lease transaction. Scott Goldman, Chris Wood, Dan Fisk and Adam McCostlin of Cushman & Wakefield represented Kemper.

April 2, 2018

Acquisitions Michigan Midwest Office

L. Mason Capitani CORFAC International Brokers Sale of 55,528 SF Office Building in Auburn Hills, Michigan

by Kristin Harlow April 2, 2018

AUBURN HILLS, MICH. — L. Mason Capitani CORFAC International has brokered the sale of Oakland Euro Center in Auburn Hills. The 55,528-square-foot office building is located at 3201 University Drive. The property is 97 percent leased by 10 tenants. The sales price was not disclosed, but the asking price was reported to be $5.7 million. Mason L. Capitani represented the buyer, LSTC Michigan LLC, in the transaction. This sale represents the seventh acquisition in metro Detroit for the California-based buyer. L. Mason Capitani CORFAC International will oversee leasing at the building, while its affiliated company, Liberty Property & Asset Management, will manage the property.

April 2, 2018

Acquisitions Michigan Midwest Multifamily

Franklin Property Acquires 43-Unit Multifamily Property in Sterling Heights, Michigan

by Kristin Harlow April 2, 2018

STERLING HEIGHTS, MICH. — Franklin Property Corp., in partnership with Cranbrook Investment Partners LLC, has acquired Plumbrook Greens Townhouses in Sterling Heights for an undisclosed price. The property features 43 townhouse rental units with private garages and basements. Franklin plans to make minor improvements to the property over the next several months. Citi Real Estate Funding provided mortgage financing for the transaction. Franklin acquired the asset directly from the original developer’s family.

April 2, 2018

Acquisitions Hospitality Midwest Missouri

Mumford Co. Arranges Sale of 63-Room Hotel in Pevely, Missouri

by Kristin Harlow April 2, 2018

PEVELY, MO. — Mumford Co. has arranged the sale of a Super 8 hotel in Pevely, about 29 miles south of St. Louis. The sales price was not disclosed. The three-story hotel features an indoor pool. George Arvanitis and Justin Pinkard of Mumford Co. represented the seller, Faiz Awana LLC. Investment Property Exchange Services Inc. purchased the asset.

April 2, 2018

Loans Midwest Multifamily South Dakota

Love Funding Provides $24.2M Construction Loan for Multifamily Property in Rapid City, South Dakota

by Kristin Harlow March 30, 2018

RAPID CITY, S.D. — Love Funding has provided a $24.2 million FHA-insured loan for the construction of Moon Meadows Apartments in Rapid City. The 160-unit multifamily property will feature a mix of one-, two- and three-bedroom floor plans within eight garden-style buildings. Climate-controlled hallways will link garages to unit entrances. Consolidated Construction Co. Inc. is building the property. Way Architects PC designed the project and Vertex Property Management will manage the community. Moon Meadows Apartments is part of the Moon Meadows Park development, which will include an office building, hotel, retail space and a new medical office park.

March 30, 2018

Industrial Leasing Activity Midwest Minnesota

LKQ Corp. Signs 200,000 SF Industrial Lease in Fridley, Minnesota

by Kristin Harlow March 30, 2018

FRIDLEY, MINN. — LKQ Corp. has signed a 200,000-square-foot industrial lease at Northern Stacks in Fridley, about 10 miles north of Minneapolis. The provider of automobile repair parts will occupy the entire square footage of Stacks VII, the seventh and final building at the industrial park slated for completion in January 2019. To date, developers Hyde Development and M.A. Mortenson Co. have completed five buildings, four of which are fully leased. Eric Batiza and Jason Simek of Colliers International represented Hyde in the lease transaction. Vic Overholser of SDS Realty represented LKQ.

March 30, 2018

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $9M Sale of Apartment Building in Chicago’s Uptown Neighborhood

by Kristin Harlow March 30, 2018

CHICAGO — Kiser Group has brokered the $9 million sale of The Maynard in Chicago’s Uptown neighborhood. The 74-unit apartment building is located at 4875 N. Magnolia Ave. Originally built in 1925, the property features primarily micro-unit studios, some as small as 218 square feet. Rick Ofman and Lee Kiser of Kiser Group brokered the transaction. Becovic Management purchased the asset from CLK Properties.

March 30, 2018

Acquisitions Industrial Midwest Wisconsin

Cushman & Wakefield | Boerke Arranges Sale of 35,266 SF Industrial Building Near Milwaukee

by Kristin Harlow March 30, 2018

WEST ALLIS, WIS. — Cushman & Wakefield | Boerke has arranged the sale of the Atlas Pipe Threading Co. building in West Allis, six miles west of Milwaukee. The sales price was not disclosed. The 35,266-square-foot industrial property is located at 11133 W. Rogers St. Dave Ferron and Kristian Sydow of Cushman & Wakefield | Boerke brokered the sale on behalf of the buyer, Composite Drivelines LLC, and the seller, Atlas Pipe Threading Co., a pipe supplier that closed its business over a year ago.

March 30, 2018

Acquisitions Midwest Minnesota Retail

Timber Development Sells Retail Center in Little Falls, Minnesota for $1.2M

by Kristin Harlow March 30, 2018

LITTLE FALLS, MINN. — Timber Development has sold a 12,000-square-foot retail center in the central Minnesota city of Little Falls for $1.2 million. The newly renovated property is 100 percent leased. Tenants include Maurice’s Clothing, Shoe Sensation and Cricket Wireless. Erin Patton of Marcus & Millichap brokered the transaction. The buyer was not disclosed.

March 30, 2018

Acquisitions Illinois Industrial Midwest

JLL Arranges $86M Sale of Industrial Portfolio in Metro Chicago

by Kristin Harlow March 29, 2018

CHICAGO — JLL Capital Markets has arranged the $86 million sale of a 1.2 million-square-foot, 11-property industrial portfolio across metro Chicago. High Street Realty Co. LLC purchased the portfolio on behalf of High Street Real Estate Fund V LP. Seven of the buildings are fully leased. The portfolio’s total occupancy rate is 86 percent. The properties include: 801, 901 and 1001 Technology Way in Libertyville; 101 Corporate Center in Lemont; 755 Remington Blvd. in Bolingbrook; 2050 Hammond Drive in Schaumburg; and 900, 909,1000 Asbury Drive and 911 Commerce Court in Buffalo Grove. Additionally, a 74,024-square-foot building at 1001 Asbury Drive in Buffalo Grove will be available for lease starting July 31. John Huguenard, Sean Devaney, Ed Halaburt, Steve Trapp and Steve Ostrowski of JLL brokered the transaction on behalf of the seller, an institutional client.

March 29, 2018

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