MANKATO, MINN. — Marcus & Millichap has arranged the sale of Hubbell Crossing in Mankato in southern Minnesota for $1.4 million. The 20-unit apartment building is located at 230 Hubbell Ave. Built in 1985, the property features two-bedroom units. Chris Collins, Dan Linnell, Josh Talberg and Mox Gunderson of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured the private buyer.
CHICAGO — RedShelf, a Chicago-based educational software company, has signed a 16,201-square-foot office lease at 500 N. Dearborn St. in Chicago. The firm had previously been subleasing 13,201 square feet on floors 12 and 13 at the same location. The new office space fosters a collaborative work environment for RedShelf. Christine Torres of Colliers International represented RedShelf in the lease transaction. Bob Zimmerman of Friedman Properties represented ownership.
MANITOWOC, WIS. — Panera Bread has signed a 4,300-square-foot lease in Manitowoc, about 40 miles southeast of Green Bay. The fast casual restaurant will occupy the space at 4626 Calumet St. Joe Kleiman and Dan Cohen of Mid-America Real Estate-Wisconsin LLC represented Panera in the lease transaction. The landlord was not disclosed.
HUDSON, WIS. — Dougherty Funding has provided Express Hospitality LLC with an $8.8 million loan for the construction of a Holiday Inn Express hotel in Hudson, located in western Wisconsin along the Minnesota border. The 100-room hotel will be situated immediately adjacent to a new conference center that is currently under construction. The hotel and the independently owned conference center are slated to open in late summer 2018. Dougherty’s Minneapolis office provided the loan.
TAYLOR, MICH. — Signature Associates has arranged the sale of a 93,219-square-foot industrial building in Taylor, about 20 miles southwest of Detroit. The sales price was not disclosed. The property is located at 27000 Wick Road. Steve Gordon of Signature Associates represented the buyer, SCVR Holdings LLC. Brad Viergever, also of Signature Associates, represented the seller, MacLean Enterprises LLC.
ELGIN, ILL. — NKF Capital Markets has brokered the sale of a 74,613-square-foot industrial property in Elgin, about 35 miles northwest of Chicago. The sales price was not disclosed. The building is located at 440 S. McLean Blvd. Advance Engineering Corp. (AEC) has fully occupied the property since 2006. AEC provides the natural gas industry with fabricated meter sets and piping. Adam Marshall and Boris Shraybman of NKF represented the seller, a private ownership group. Bryan Bartlett of Newmark Grubb Phoenix Realty Group represented the buyer, Plymouth Industrial REIT Inc.
OAK CREEK, WIS. — Meridian Design Build has completed construction of a 48,200-square-foot warehouse expansion for GE Healthcare in Oak Creek, about 15 miles south of Milwaukee. The facility now totals 328,028 square feet. The project features LED lighting, six loading docks and two doors connecting the new space to the existing building. GE Healthcare uses the building as a repair operations center, and the expansion will be utilized to house spare and repaired parts for the company’s equipment. Construction began in late August 2017 and was completed in January. Harris Architects provided architectural services while Pinnacle Engineering completed civil engineering work. Exeter Property Group owns the building.
LINCOLNSHIRE, ILL. — bswift, an Aetna company that provides healthcare technology and benefits administration outsourcing services, has signed a 3,470-square-foot office lease in Lincolnshire. The company is expanding its Chicago office and will occupy new space at 1 Overlook Point in Lincolnshire Corporate Center. bSwift chose the space because of the location, amenities and available workforce nearby, according to a news release. New amenities currently under construction at the office property include a deli, Wi-Fi lounge, conference facility, fitness center and bike room. Jonathan Metzl of Cushman & Wakefield represented bswift in the lease transaction, while Nicholas Panarese of Van Vlissingen and Co. represented ownership.
CHICAGO — CoreSite Realty Corp. has acquired a two-acre land parcel in downtown Chicago to build CH2, a 175,000-square-foot data center. The four-story facility will support 18 megawatts of power capacity. CoreSite expects to begin construction on the project at the end of 2018 or the beginning of 2019. The company plans to construct the building in three phases, consisting of six megawatts of capacity per phase, with a total estimated cost of $190 million to $210 million. CH2 will be located one mile from CoreSite’s existing CH1 facility and network node. CoreSite plans to connect the two sites via fiber.
CINCINNATI — Kroger has opened its Culinary Innovation Center in downtown Cincinnati. Construction began on the 12,000-square-foot test kitchen and education center in March 2017. The facility will be used for accelerating product development, producing new recipes for Prep + Pared Meal Kits, exploring new restaurant concepts, hosting food tastings and focus groups and increasing associates’ culinary knowledge, according to Daniel Hammer, Kroger’s vice president of culinary development and new business.