Midwest

INDIANAPOLIS — Rj BOLL Realty has negotiated a 120,200-square-foot industrial lease at The Logan Building in Indianapolis. Commercial Works Inc. has leased the entire building, located at 5150 Decatur Blvd. Ray C. Boll and Jeffrey A. Boll of Rj BOLL represented Commercial Works in the lease transaction. Brian Buschuk and Brian Seitz of JLL represented the landlord, Meritex Logan LLC. Rj BOLL and JLL also arranged the sale of Commercial Works’ previous location at 255 S. Post Road in Indianapolis. Jenson Industries purchased the 55,043-square-foot building for $1.9 million.

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LENEXA, KAN. — Copaken Brooks has arranged the sale of a 37,585-square-foot industrial flex building in Lenexa for $4 million. The property is located at 10749 West 84th Terrace in the Pine Ridge Business Park. The building was renovated to a half-office and half-warehouse layout in 2005. John D. Coe of Copaken Brooks arranged the sale on behalf of the seller, Peavey Properties. Easterly Government Properties Inc. purchased the building.

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LEE’S SUMMIT, MO. — Newmark Grubb Zimmer has brokered the sale of a 26,000-square-foot office building in Lee’s Summit, about 20 miles southeast of Kansas City. The sales price was not disclosed. Once fully occupied by Lafarge North America, the building is now home to nine tenants including American Family Insurance. Susan Smith, Michael VanBuskirk and Chris Robertson of Newmark Grubb Zimmer represented the seller, Jefferson Commons LLLP. A private investor was the buyer.

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SAUKVILLE, WIS. — Aquarius Technologies has signed a 21,740-square-foot industrial lease in Saukville, about 25 miles north of Milwaukee. The wastewater treatment solution company will occupy the property located at 420 Technology Way. Nick Keys of the Dickman Co. Inc. represented the tenant, while Stephen Provancher and Brett Garceau of NAI MLG Commercial represented the landlord, Technology Way LLP.

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SCHERERVILLE, IND. — Clarendale of Schererville has opened in Schererville, about 38 miles south of Chicago. The 177-unit seniors housing community is located at 7770 Burr St. The $40 million development is the third Clarendale property from developer-builder Ryan Cos. Situated on nine acres, the three-story community is comprised of 85 independent living residences, 38 assisted living residences and 54 memory care residences. The residences range from 300 square feet to 1,300 square feet. Amenities include a movie theater, crafts room, bistro, pub and billiards room, library, multipurpose room and fitness center. Des Moines, Iowa-based Life Care Services will manage the community.

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ANN ARBOR AND TROY, MICH. — Colliers International has arranged the sale of two office properties in Ann Arbor and Troy for a combined $33 million. Allegiance Realty sold 901 Tower Drive in Troy to a group of local investors, including Neil Doshi and Peter Burton. The property is a 124,911-square-foot Class B office building. Shamie Development Co. and Pomeroy Investments sold 5210 and 5220 S. State St. in Ann Arbor to members of the Eyde family based in Lansing. Totaling 120,720 square feet, the office property is 100 percent leased to three tenants. Barry Swatsenbarg of Colliers brokered the transactions.

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BUFFALO GROVE, ILL. — The Missner Group has acquired a 121,000-square-foot industrial property in Buffalo Grove. The purchase price was not disclosed. The property is located at 900-950 Busch Parkway within the Corporate Grove Business Park. Originally built in 1985 as a 50,000-square-foot corporate headquarters property, 900-950 Busch Parkway is situated on 8.8 acres and was expanded by 71,000 square feet in 1999. Today, the building is primarily occupied by two tenants, Rockin’ Jump Indoor Trampoline Park and The Pillow Factory. A 6,000-square-foot executive office suites area, located on the second floor of the building, is fully leased to three office tenants. The property features 26-foot clear heights, five truck docks and two drive-in doors. Barry Missner and Ed Adler of The Missner Group led the acquisition on behalf of the company. Brett Kroner of Cushman & Wakefield represented the seller. Developed by Van Vlissingen and Co., Corporate Grove Business Park is a 200-acre business park consisting of over three million square feet of office and industrial space.

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FENTON, MO. — Hilliker Corp. has brokered the sale of a 32,500-square-foot industrial building in Fenton, a suburb of St. Louis, for $1.7 million. The property is located at 255-273 Wolfner Drive near I-44. The multi-tenant building was 80 percent occupied at the time of sale. Scott Martin of Hilliker represented the seller, Future 44 Co. LLC, while The Johnson Group represented the buyer, E. B. Holdings LLC.

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SALINA, KAN. — Marcus & Millichap has arranged the sale of a Chick-fil-A ground lease in Salina, located in central Kansas, for $1.6 million. The 3,000-square-foot property is located at 2245 S. 9th St. The Chick-fil-A was newly constructed in 2016 and features a 15-year ground lease. Craig Fuller, Scott Wiles and Erin E. Patton of Marcus & Millichap marketed the property on behalf of the seller, a New York-based private fund. Adam O’Sullivan, Nathan D. Whalen, Damien Yoder and Jeremie Johnson, also of Marcus & Millichap, represented the buyer. Greg Bates, broker of record in Kansas City, assisted in closing the transaction.

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INDIANA, MINNESOTA AND OHIO — Meridian Capital Group has arranged the $57.5 million refinancing for a 15-property multifamily portfolio located across five states. The 1,192-unit portfolio includes Ridgewood and Meadowood in Indiana; Laurel Bay and Carleton Court in Minnesota; and Camellia Court, Beckford Place, Forsythia Court, Slate Run, Tabor Ridge, Foxhaven and River Glen in Ohio. Four other properties within the portfolio are located in Georgia and Kentucky. Cary Pollack, Judah Neuman and Steve Cohen of Meridian Capital arranged the 10-year CMBS loan. Reliance Global Holdings was the borrower.

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