KANSAS CITY, MO. — Copaken Brooks has completed the lease-up of the retail space at its Town Pavilion office building in Kansas City. The property totals 840,642 square feet with 30,372 square feet of first-floor retail space. Three new tenants — Johnny C’s Deli & Pasta, Chick N Pie and Ruby Jean’s Juicery — have signed leases at the property. Johnny C’s is a local Italian deli that serves pastas, sandwiches and salads. Chick N Pie will occupy the space formerly home to Pizza Hut and KFC Express. The quick-service concept, from the same owners of Plowboys BBQ, serves chicken, burgers, pizza and salads. Ruby Jean’s Juicery specializes in smoothies, juices, performance shakes and snacks. The company has five other locations.
SCHILLER PARK, ILL. — NAI Hiffman has arranged the sale of a 17,600-square-foot industrial park in Schiller Park near the Chicago O’Hare International Airport. The sales price was not disclosed. The property, located at 9525 River St., includes 3,000 square feet of office space. Murat Cable LLC, an independent manufacturer of automotive and battery cables based in Turkey, purchased the property in an effort to expand its North American customer base. Joe Bronson, Jay Maher and Josh Will of NAI Hiffman represented the seller, Spell Capital Partners LLC. Thomas Gath of Newmark Knight Frank represented the buyer.
CINCINNATI — Rainier Realty Investments LP, along with a fund managed by Continuum Investments Limited and local operator Stark Enterprises, have acquired 32 East in Cincinnati for $29.1 million. The 192,000-square-foot shopping center is 100 percent leased to tenants such as HomeGoods, Burlington, Michaels and Ulta. Florida-based PEBB Enterprises sold the asset. Rainier and Continuum established a joint venture to acquire retail properties throughout the central and southern United States. Cleveland-based Stark Enterprises is a full-service real estate development company with more than 7 million square feet of retail, office, apartment and hotel properties in its portfolio.
ST. LOUIS — NorthMarq Capital has arranged a $13.2 million loan for the acquisition of the Westview office building in St. Louis. The 125,645-square-foot property is located at 12312 Olive Blvd. near Highway 270. David Garfinkel of NorthMarq arranged the loan on behalf of the borrower, Diamond Income Fund Investors. A life insurance company provided the loan.
BAY CITY, MICH. — Berkeley Point Capital has provided an $8.9 million HUD loan for the refinancing of Sheffield Bay Assisted Living & Memory Care in Bay City in Mid-Michigan. Built in 1999, the 66-unit seniors housing community features a mix of 37 assisted living units and 29 memory care units. Services include gourmet meals, housekeeping, laundry, medication management and transportation. Mickey Rist of Berkeley Point originated the FHA 232/223(f) loan, which is fully amortized over 35 years. The borrower was not disclosed.
CHICAGO — Marcus & Millichap has brokered the sale of a four-story loft office building in Chicago’s Lincoln Park neighborhood for $4.5 million. The 24,000-square-foot property is located at 1525 W. Homer St. Built in 1990 and renovated in 2017, the building is situated within the North Branch Industrial Corridor. Six tenants fully occupied the property at the time of sale. Stephen Lieberman and Kyle Stengle of Marcus & Millichap represented the seller, a local developer. A private Chicago-based investor was the buyer.
VALLEY PARK, MO. AND LAKEWOOD, OHIO — Hanley Investment Group Real Estate Advisors has arranged the sale of three properties occupied by 7-Eleven for $4.2 million. One of the properties, a 2,193-square-foot building and gas station located in Valley Park, Mo., sold for $1.9 million. The property was built in 1998. Jeremy McChesney of Hanley represented the seller, Equitas Investments. Matt Lemon and Suheil Sahouria of The Trafton Group represented the buyer, a private investor. Built in 1975, the second building features 2,410 square feet and is located in Lakewood, Ohio. The property sold for $885,000. McChesney again represented the seller, Equitas Investments. Matt Waterman of Pegasus Investments represented the buyer, a private investor based in California. The sales transaction also included a third property located in Florida.
MAUMEE, OHIO — Uber Capital Group LLC has arranged a $15 million loan for the $21 million acquisition of The Shops at Fallen Timbers in Maumee, located about 10 miles southwest of Toledo. A private commercial real estate group purchased the property from GGP Inc. Joel J. Gorjian of Uber sourced the loan with a regional bank based in Ohio. Built in 2007, The Shops at Fallen Timbers is a 1 million-square-foot shopping center located on a 110-acre site at 3100 Main St. Approximately 60 tenants occupy the center, including anchors J.C. Penney, Dillard’s, Barnes & Noble and Rave Cinemas.
CHICAGO — SVN | Chicago Commercial has arranged the sale of an entire city block located at 400 N. May St. in Chicago’s Fulton Market. The block is comprised of a 75,000-square-foot timber and beam office building and 43,000 square feet of land currently being used as a parking lot. Stephen Cusano, Chad Schroedl, Drew Dillon and James Mead of SVN represented the seller, May St. Investments LLC, which owned the property for over 30 years. MCZ Development purchased the property.
KALAMAZOO, MICH. — Hunt Mortgage Group has provided a $13.6 million loan for the refinancing of Lakeview Apartments in Kalamazoo. The 280-unit multifamily property was built in 1967. Amenities include a fitness center and health club discount, laundry facilities, package service and a clubhouse. The property is currently 93 percent occupied. The borrower, PR Lakeview LLC, acquired the property in March 2011 and invested $2 million in renovations. The 10-year loan features a 30-year amortization schedule.