Midwest

CT Begins Development of $125M Logistics Park in Suburban Chicago

by Kristin Harlow March 7, 2018

ROMEOVILLE, ILL. — CT has begun development of Interchange 55 Logistics Park in the Chicago suburb of Romeoville. The $125 million, 1.3 million-square-foot logistics park is slated for completion by the end of this year. The project will consist of two distribution facilities, each with clear heights of 32 feet, 560-foot building depths and 185-foot truck courts. Building A will feature 657,000 square feet with 60 dock doors, 157 trailer parking spaces and 241 car parking spaces. Building B will feature 684,000 square feet with 68 dock doors, 175 trailer parking spaces and 465 car parking spaces. The design will allow for future expansion of parking and dock doors. Adam Roth, Dan Leahy and Packy Doyle of NAI Hiffman represented CT in the acquisition of the 112-acre land site.

March 7, 2018

Industrial Midwest Wisconsin

CBRE Arranges $50.3M Sale of Distribution Center in Chippewa Falls, Wisconsin

by Kristin Harlow March 7, 2018

CHIPPEWA FALLS, WIS. — CBRE Capital Markets has arranged the $50.3 million sale of the Mills Fleet Farm distribution center in Chippewa Falls, which is located in western Wisconsin. The Class A build-to-suit property spans 1.1 million square feet. Judd Welliver, Ryan Watts, Guy Ponticiello, Tom Holtz and Sonja Dusil of CBRE represented the seller, Ryan Cos. US Inc., which developed, designed and constructed the building. An affiliate of iStar Inc. purchased the asset.

March 7, 2018

Indiana Midwest Office

M & J Wilkow Acquires 240,312 SF Office Property in Suburban Indianapolis

by Kristin Harlow March 7, 2018

CARMEL, IND. — In a joint venture with a fund managed by DRA Advisors LLC, M & J Wilkow has acquired Meridian Plaza in the Indianapolis suburb of Carmel. The purchase price was not disclosed. The property consists of two Class A office buildings totaling 240,312 square feet. Constructed in 1987 and renovated in 2016, the property features amenities such as a fitness center, conference center, tenant lounge and outdoor patio space. An occupancy rate was not disclosed, but the buildings are home to 39 tenants. M & J Wilkow plans to make additional improvements to the property.

March 7, 2018

Midwest Office Wisconsin

Founders 3 Brokers Sale of 125,560 SF Office Building in Milwaukee

by Kristin Harlow March 7, 2018

MILWAUKEE — Founders 3 has brokered the sale of the PH Dye House in Milwaukee’s Historic Third Ward for an undisclosed price. The 125,560-square-foot office building is located at 320 E. Buffalo St. Tenants include Engberg Anderson Architects, Thiel Design and Hailing & Cayo SC. Andy Hess of Founders 3 brokered the transaction. The buyer, an affiliate of Singerman Real Estate LLC, plans to renovate the property.

March 7, 2018

Midwest Ohio Retail

PEBB Enterprises Sells Shopping Center in Aurora, Ohio for $15.8M

by Kristin Harlow March 7, 2018

AURORA, OHIO — PEBB Enterprises has sold Marketplace at Four Corners in Aurora, southeast of Cleveland, for $15.8 million. The 116,436-square-foot shopping center is home to tenants such as Stein Mart, Kirkland’s, Torrid, Old Navy, Party City and Gabe’s. PEBB purchased the property in 2013 when it was vacant, and has since made upgrades to the exteriors, landscaping and lighting, as well as added a new ground-up development. The property is now 100 percent occupied. The buyer was not disclosed.

March 7, 2018

Midwest Minnesota Multifamily

Alatus to Develop $125M Apartment Property in Rochester, Minnesota

by Kristin Harlow March 6, 2018

ROCHESTER, MINN. — Alatus LLC is developing a 350-unit apartment property in Rochester. The $125 million development will be situated at 217 14th Ave. S.W., adjacent to the Mayo Clinic Saint Mary’s hospital in southern Minnesota. The project will include 24,100 square feet of commercial and office space, as well as 543 climate-controlled parking stalls. In addition to apartment units, the 14-story property will also feature walk-up townhomes. Amenities will include an entertainment suite, outdoor amenity terrace and group fitness rooms. Leasing is slated to begin in summer 2019. Additional project partners include the City of Rochester, the Destination Medical Center Economic Development Authority, Wells Fargo, Kayne Anderson Real Estate, Weis Builders and ESG Architects.

March 6, 2018

Midwest Minnesota Multifamily

Marcus & Millichap Arranges $10.9M Sale of Apartment Building in Duluth, Minnesota

by Kristin Harlow March 6, 2018

DULUTH, MINN. — Marcus & Millichap has arranged the sale of Mount Royal Manor in Duluth for $10.9 million. The 114-unit apartment building is located at 100 Elizabeth St. in northeastern Minnesota along Lake Superior. Originally built in 1951, the property features 13 studios, 76 one-bedroom units and 25 two-bedroom units. Mox Gunderson, Dan Linnell, Josh Talberg and Chris Collins of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured the undisclosed buyer.

March 6, 2018

Illinois Industrial Midwest

Colliers Brokers Sale of 161,591 SF Warehouse in Countryside, Illinois

by Kristin Harlow March 6, 2018

COUNTRYSIDE, ILL. — Colliers International | Chicago has brokered the $6.3 million sale of a 161,591-square-foot warehouse in Countryside, about 20 miles southwest of Chicago. The property is located at 5300 Dansher Road. The warehouse features 19 docks, two drive-in doors and 8,200 square feet of office space. Fred Regnery and Jack Rosenberg of Colliers represented the seller, Value Industrial Partners LLC, in the sales transaction. Combined Warehouse purchased the asset. Colliers also arranged a 50,000-square-foot lease for Veepak, a distributor of health and beauty products, at the property.

March 6, 2018

Illinois Industrial Midwest

Brown Commercial Negotiates Sale of 39,375 SF Industrial Building in Warrenville, Illinois

by Kristin Harlow March 6, 2018

WARRENVILLE, ILL. — Brown Commercial Group has arranged the sale of a 39,375-square-foot industrial building located on Youghal Road in Warrenville, about 30 miles west of Chicago. The sales price was not disclosed. The D/C Group purchased the property to use as an ancillary location to better serve its customers. The warehouse and distribution company is headquartered in Elk Grove Village, Ill. Mike Antonelli of Brown Commercial represented the buyer in the sales transaction. Mike Magliano of Cushman & Wakefield represented the seller, a private investor.

March 6, 2018

Midwest Missouri Restaurant Retail

Block & Co. Investment Group Acquires Restaurant Building in Belton, Missouri

by Kristin Harlow March 6, 2018

BELTON, MO. — A local investment group managed by Block & Co. Inc. Realtors has acquired a 6,799-square-foot restaurant building net leased to Jose Pepper’s in Belton, about 20 miles south of Kansas City. The purchase price was not disclosed. The property is located at 1100 E. North Ave. near Interstate 49. The building sits on a 1.7-acre pad site in front of a shopping center with tenants such as Target, Home Depot and Kohl’s. The seller for the 1031 exchange transaction was not disclosed. Jose Pepper’s, a Mexican restaurant, maintains 14 locations throughout greater Kansas City.

March 6, 2018

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