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IllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Brokers Sale of 225,006 SF Industrial Building in Elk Grove Village, Illinois

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Lee & Associates has brokered the sale of a 225,006-square-foot industrial building in Elk Grove Village for an undisclosed price. The property is located at 1501 Nicholas Blvd. Chris Nelson, Ken Franzese and John Cassidy of Lee & Associates represented the seller, Prologis. Chris Volkert and Brendan Green of Colliers International represented the buyer, GHP Group Inc., a manufacturing company that specializes in electric fireplaces and accessories, portable heating and barbecue grill products.

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MidwestMinnesotaMixed-Use

46,000 SF Cub Grocery Store to Anchor Future Apartment Development in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Minnesota-based Cub Foods Inc. will be opening a 46,000-square-foot grocery store in the Longfellow neighborhood of Minneapolis. The store will anchor a five-story, 148-unit apartment development slated to open in spring 2019. The new Cub will feature a large deli area with made-to-order meals, a popcorn shop, produce section, floral gift space and pharmacy. An outdoor seating area will include bicycle parking and a walk-up window serving coffee, ice cream and cookie sandwiches. Oppidan Investment Co. is developing the apartment.

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HospitalityMidwestWisconsin

CBRE Hotels Brokers Sale of 129-Room Quality Inn Near Milwaukee

by Kristin Harlow

BROOKFIELD, WIS. — CBRE Hotels has brokered the sale of a Quality Inn in Brookfield, a western suburb of Milwaukee. The 129-room hotel is located at 20150 W. Bluemound Road across from The Corners, a $220 million mixed-use redevelopment project by IM Properties and Bradford Real Estate. The hotel is also near Brookfield Square Mall and the Milwaukee County Zoo. Brian Silberman, Scott Miller and Paul DeLucia of CBRE Hotels represented the seller, ABP Real Estate Holdings LLC. Neither the sales price nor the buyer were disclosed.

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IllinoisMidwestRetail

Baum Negotiates Sale of 23,562 SF Retail Center in Chicago

by Kristin Harlow

CHICAGO — Baum Realty Group LLC has negotiated the sale of a 23,562-square-foot retail center in Chicago for an undisclosed price. The property is located at 4701-4729 N. Pulaski Road. Tenants include a laundromat, dentist and beauty shop. Greg Dietz, Brad Teitelbaum and Danny Spitz of Baum represented the private seller. A local investment group acquired the property in a 1031 exchange.

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IllinoisMidwestMultifamily

Interra Arranges $1.5M Sale of Multifamily Building in Berwyn, Illinois

by Kristin Harlow

BERWYN, ILL. — Interra Realty has arranged the $1.5 million sale of a 24-unit multifamily building in Berywn, a western suburb of Chicago. The property is located at 1941 Kenilworth Ave. The three-story building, originally constructed in 1917, includes 22 one-bedroom units and two studios. Patrick Kennelly of Interra represented the private buyer, who plans to extensively renovate the building.

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IndianaMidwestOffice

Black Salmon, Redico Acquire 444,644 SF Office Building in Indianapolis for $70M

by Kristin Harlow

INDIANAPOLIS — In partnership with privately held Redico, Black Salmon has acquired Bank of Montreal (BMO) Plaza in Indianapolis for $70 million. The 444,644-square-foot, Class A office building is located between Monument Circle and Mass Avenue at 135 N. Pennsylvania St. Tenants include BMO Harris Bank, the U.S. Department of Defense and General Electric Capital Services. The property underwent a $6 million renovation in 2016 and 2017, but Black Salmon plans to make additional upgrades to the common areas. Black Salmon is a new business line of TSG Group, a real estate development and investment company based in South Florida.

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IndustrialMidwestMissouri

Amazon Unveils Plans for 800,000 SF Fulfillment Center in St. Peters, Missouri

by Kristin Harlow

ST. PETERS, MO. — Amazon Inc. has unveiled plans for its first Missouri fulfillment center that will be located in St. Peters, a northwestern suburb of St. Louis. The 800,000-square-foot center will create more than 1,500 full-time jobs for picking, packing and shipping small items such as books, electronics and toys. Amazon currently operates a sortation center in Hazelwood, Mo. A timeline for development was not disclosed.

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MichiganMidwestStudent Housing

Core Spaces Breaks Ground on Student Housing Property Near Michigan State University

by Kristin Harlow

EAST LANSING, MICH. — Core Spaces has broken ground on Hub on Campus East Lansing, a 347-unit student housing property near Michigan State University. The project is located downtown at 918 E. Grand River Ave. The apartments will range from studio to three-bedroom units and will all be fully furnished. Amenities will include a study lounge, clubroom, fitness center and rooftop amenity deck. Retail space will include a 7-Eleven and Georgio’s Pizzeria. A timeline for completion was not disclosed.

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IllinoisIndustrialMidwest

Brown Commercial Brokers $7M Sale of Three Industrial Buildings in Suburban Chicago

by Kristin Harlow

ELK GROVE VILLAGE AND GILBERTS, ILL. — Brown Commercial Group has brokered the $7 million sale of three industrial buildings in suburban Chicago totaling 136,915 square feet. The properties include 1340-1400 Higgins Road and 1425-1455 Tonne Road in Elk Grove Village, as well as 300-338 Arrowhead Drive in Gilberts. All three buildings are fully leased to multiple tenants. Dan Brown of Brown Commercial brokered the transaction on behalf of the buyer, Gilberts and Groves LLC.

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MidwestMinnesotaRetail

Cushman & Wakefield Negotiates 38,000 SF Lease for T.J. Maxx, HomeGoods Near St. Paul, Minnesota

by Kristin Harlow

COTTAGE GROVE, MINN. — Cushman & Wakefield has negotiated a 38,000-square-foot lease for a new T.J. Maxx and HomeGoods store at Grove Plaza in Cottage Grove, 10 miles south of St. Paul. The new store is part of an ongoing repositioning of Grove Plaza, which was formerly home to a Home Depot and Rainbow Foods. T.J. Maxx and HomeGoods will sit just east of a 95,700-square-foot Hy-Vee grocery store that opened last year. Completion is slated for this fall. Deb Carlson of Cushman & Wakefield represented the landlord, EBL-S, in the lease transaction.

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