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Midwest

IllinoisMidwestRetail

Cullinan Properties to Develop 7,680 SF Retail Building at The Levee District in East Peoria, Illinois

by Kristin Harlow

EAST PEORIA, ILL. — Cullinan Properties is developing a 7,680-square-foot retail building at The Levee District in East Peoria. The multi-tenant building, currently under construction in central Illinois, will be located at 4015 Spinder Drive between Panda Express and McDonald’s. T-Mobile will open at the building this fall, with additional tenants to be announced. Anchored by Target, The Levee District is over 90 percent occupied by tenants including Ross, Ulta, Tequila’s Mexican Restaurant, Jenny Craig and Heartland Dental. The property encompasses more than 86 acres.

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IllinoisMidwestMultifamily

McShane to Construct 45-Unit Apartment Property in Arlington Heights, Illinois

by Kristin Harlow

ARLINGTON HEIGHTS, ILL. — McShane Construction Co. is building Parkview Apartments in downtown Arlington Heights. UP Development LLC is the developer. The seven-story building, under construction on an infill site, is located at the southwest corner of Dunton Avenue and Eastman Street. The project will include 45 residential units and 1,314 square feet of ground-floor retail space. Residences will be located on the upper five floors while the second floor and a portion of the first floor will house parking spaces. The property will feature a mix of one-, two- and three-bedroom units. Amenities will include a community room and fitness center. Tinaglia Architects Inc. is providing architectural services. Completion is slated for the second quarter of 2018.

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MidwestMissouriMultifamily

Berkadia Brokers Sale of 528-Unit Multifamily Property in Maryland Heights, Missouri

by Kristin Harlow

MARYLAND HEIGHTS, MO. — Berkadia has brokered the sale of Pheasant Run in Maryland Heights, a suburb of St. Louis. The sales price was not disclosed. The 528-unit multifamily property is located at 12302 Inletridge Drive. The building features one- and two-bedroom apartment-style units, as well as two- and three-bedroom townhomes. Amenities include two swimming pools with sundecks, a walking trail, fitness center, indoor basketball and tennis courts and a children’s play area. Ken Aston and Andrea Kendrick of Berkadia arranged the sale on behalf of the seller, Lipton Group.

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MidwestOhioRetail

Colliers Arranges $11.5M Sale of Retail Property Near Akron, Ohio

by Kristin Harlow

CUYAHOGA FALLS, OHIO — Colliers International has arranged the sale of Cuyahoga Falls Market Center in Cuyahoga Falls, about five miles north of Akron, for $11.5 million. The 76,358-square-foot retail center includes tenants such as PetSmart, Big Lots, Five Below, Chipotle, Verizon Wireless and Starbucks. Kevin James and Grant Chaney of Colliers arranged the sale on behalf of the seller, Cuyahoga Falls LLC. A New York City-based private investor purchased the property.

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IllinoisMidwestMultifamily

Interra Brokers $3.7M Sale of Multifamily Property in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of a 16-unit multifamily property in Chicago’s Lincoln Park for $3.7 million. The property, located at 1955 N. Lincoln Ave., features four studios and 12 one-bedroom units. Brad Feldman and Adam Saxon of Interra represented the buyer, a local developer, as well as the sellers, Ron and Nancy Hollmeier. The Hollmeiers have owned the property since 1999. The new owner plans to renovate the units to increase rents.

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MichiganMidwestRetail

NAI Wisinski Negotiates Third Michigan Location for Employment Agency

by Kristin Harlow

LOWELL, MICH. — NAI Wisinski of West Michigan has negotiated a third Michigan location for Fettig Employment Agency in Lowell, about 18 miles east of Grand Rapids. The agency began occupying the 1,087-square-foot retail storefront at 11635 Fulton St. last month. The company, founded in 1995, also maintains locations in Rockford and Grand Rapids. Todd Leinberger and Doug Taatjes of NAI Wisinski negotiated the two-year lease on behalf of Fettig. Tri-Cord Enterprises is the building landlord.

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IllinoisMidwestMultifamily

Kiser Group Brokers $11.5M Sale of Multifamily Property in Chicago

by Kristin Harlow

CHICAGO — Kiser Group has brokered the sale of a multifamily property in Chicago’s Edgewater neighborhood for $11.5 million. The 80-unit building is located at 5536 N. Sheridan Road. An affiliate of Horizon Group Realty Holdings LLC purchased the property from a local family partnership. Lee Kiser and Michael Feldstein of Kiser Group brokered the transaction.

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IllinoisMidwestRetail

Marcus & Millichap Arranges $9.8M Sale of Retail Property in Chicago

by Kristin Harlow

CHICAGO — Marcus & Millichap has arranged the sale of Ashland Wellington Plaza in Chicago for $9.8 million. The 19,979-square-foot retail property is located at 2862-2928 N. Ashland Ave. Jewel-Osco shadow anchors the property. Adrian Mendoza, Austin Weisenbeck and Sean R. Sharko of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also procured the buyer, a St. Louis-based investor.

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IllinoisIndustrialMidwest

Meridian Completes 112,288 SF Industrial Tenant Build-out in Glendale Heights, Illinois

by Kristin Harlow

GLENDALE HEIGHTS, ILL. — Meridian Design Build has completed a 112,288-square-foot industrial tenant build-out for Prologis and OSM Worldwide in Glendale Heights. The property is located at 601 Regency Drive. The project features 10,601 square feet of office space, 13 loading docks, 95 vehicle parking stalls, 21 trailer stalls and one drive-in door. OSM Worldwide is a parcel shipping company. Harris Architects provided architectural and structural engineering services, while Kimley-Horn completed engineering design work. Dan Smolensky of Taurus Modal Group represented OSM Worldwide in the transaction, while Brian Kling and Jonathan Kohn of Colliers International represented Prologis. Meridian Design Build is currently working on improvements for a second tenant that will also occupy the building.

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IndustrialMichiganMidwest

Wurth Baer Signs 55,045 SF Industrial Lease in Oak Park, Michigan

by Kristin Harlow

OAK PARK, MICH. — Wurth Baer Supply Co. has signed a 55,045-square-foot industrial lease in Oak Park, a suburb north of Detroit. The wholesale distributor to the woodworking industry will occupy the space at 13390 Cloverdale St. The landlord, Bar Pro Ventures LLC, recently purchased the facility with plans to complete an interior renovation including 3,500 square feet of office space. Jason Capitani of L. Mason Capitani CORFAC International and Steven Podolsky of Podolsky Circle CORFAC International represented Wurth Baer in the lease transaction.

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