CHICAGO — Baum Realty Group LLC has arranged the sale of Albany Square in Chicago for $6.3 million. The 29,764-square-foot retail center is located at 4415-4453 N. Pulaski Road in Chicago’s Albany Park neighborhood. Some of the tenants at the property include Subway, Wingstop and Little Caesars. Greg Dietz, Brad Teitelbaum and Danny Spitz of Baum represented the undisclosed seller in the transaction. A local investor acquired the asset.
DEXTER, MICH. — Redline Athletics has signed a 10,581-square-foot retail lease in Dexter, about 10 miles northwest of Ann Arbor. The youth athletic training center for ages 8-18 will occupy the currently vacant space at 7007-7093 Dexter Ann Arbor Road. This will be the second metro Detroit location for the company, following Farmington Hills. Ben Hubert and Benji Rosenzweig of Colliers International represented the tenant in the lease transaction. The landlord was not disclosed.
INDIANAPOLIS — Lee & Associates has brokered the sale of a 10,320-square-foot industrial building in Indianapolis for an undisclosed price. The property is located at 5311 Commerce Circle. Cindy Hoskinson of Lee & Associates represented the seller, Eiker Investments LLC. George Dury of Dury Investment Group represented the undisclosed buyer.
MOUNT VERNON, ILL. — Marcus & Millichap has arranged the sale of Times Square Marketplace in Mount Vernon for $8.2 million. The 263,459-square-foot retail property is located at the southeast corner of Broadway and 42nd streets in southern Illinois. Originally developed in 1974, the property was expanded in 1998 and received $12 million in upgrades to the parking lots, façade and signage in 2013. The center is situated on a 24-acre lot and is surrounded by six anchors including Hobby Lobby, Ross Dress for Less, Big Lots, Peebles, J.C. Penney and Dunham Sports. The property was 92 percent occupied at the time of sale. Sean Sharko, Austin Weisenbeck, Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a private investor.
MCCOOK, ILL. — Holly Hunt Enterprises Inc. has signed a 210,315-square-foot industrial lease in McCook, a western suburb of Chicago. The designer and manufacturer of furniture, lighting products, textiles and leather products will occupy the space at 9450 Sergo Drive. Vern Schultz and Mike Senner of Colliers International represented Holly Hunt Enterprises in the lease transaction. Jason West, Sean Henrick and Larry Goldwasser of Cushman & Wakefield represented ownership, ML Realty Partners.
SHARONVILLE, OHIO — Cincinnati Commercial Contracting LLC has broken ground on a 27,995-square-foot build-to-suit for TNT Services and Arrow Truck Sales in Sharonville, about 17 miles north of Cincinnati. The office and retail property property, located at 11910 Mosteller Road, will include sales and administration offices, retail parts department, wash bays, degreasing, equipment and service areas for the two tenants. A groundbreaking ceremony took place on Wednesday, Feb. 14. The property is slated for completion this summer. TNT Services is a power washing company, while Arrow Truck Sales is a used truck dealer.
ST. LOUIS — McGrath & Associates has completed a renovation of the Missouri Baptist Medical Heart Center in St. Louis. The renovations totaled 16,000 square feet and included two physician office suites, a PET/CT imaging room and an outpatient testing area. An advanced nuclear imaging technique combines positron emission tomography (PET) and computed tomography (CT) into one machine. Christner served as the architect for the six-month project.
CHICAGO — SVN | Chicago Commercial has brokered the sale of a 4,200-square-foot retail building in Chicago’s Fulton Market for $1.7 million. The two-story property is located at 1039 W. Lake St. Scott Maesel and Drew Dillon of SVN | Chicago Commercial represented the seller, Sterling Bay Co. Lee French and Tim Rasmussen represented the undisclosed buyer.
ROCHESTER, MINN. — Industrial Realty Group LLC (IRG) has acquired IBM’s technology campus in Rochester, about 90 miles southeast of Minneapolis. The price was not disclosed. The campus opened in 1957 and currently spans 490 acres. Its 34 buildings comprise a total of 3.1 million square feet of office, manufacturing, warehouse, data center and lab space. IRG plans to lease back eight of the buildings to IBM and create a multi-tenant, mixed-use campus for the rest of the property. “We have already engaged potential tenants who are interested in locating their operations to this high-tech campus,” says John Mase, CEO of IRG. “We plan to create an environment that encompasses a variety of uses and creates as many jobs as possible.” Rochester’s daily newspaper, The Post Bulletin, reports that the campus housed about 3,200 employees in 2012, when the data was last made available, and that Olmsted County recently valued the property at just under $33 million. The paper also reports that 1 million square feet of space is currently available for lease. IRG is a Los Angeles-based developer and operator of more than 150 commercial developments across eight states. — Taylor Williams
NORFOLK, NEB. — Darland Construction Co. is building a 130,000-square-foot medical office building for Faith Regional Health Services in Norfolk. The project, located in northeastern Nebraska, is slated for completion in spring 2019. The four-story building will include an outpatient surgery center on the main floor. The remainder of the building will be dedicated to women’s and children’s services, surgical and medical specialty offices and orthopedics. Avant Architects is the project architect.
