Midwest

McGrath to Build $5M Warehouse in St. Louis

by Kristin Harlow November 27, 2017

ST. LOUIS — McGrath & Associates is building a new $5 million warehouse for U.S. Paint, a developer and manufacturer of customized automotive and industrial paints, at the company’s facility in downtown St. Louis. McGrath will work in two phases to replace an existing warehouse with a 33,000-square-foot building while the manufacturing facility remains operational. During Phase I, McGrath will erect a new pre-engineered metal building to provide new office space, a maintenance shop, a battery charging area and storage for raw materials. A connecting link will tie the new building into an existing manufacturing building to allow covered access for forklift truck traffic. During Phase II, the existing raw materials warehouse will be demolished and a new building erected to provide space for a quality control lab and liquid materials storage. Japan-based Kansai Paint acquired U.S. Paint last year.

November 27, 2017

Iowa Midwest Multifamily

Timberland Partners Acquires 144-Unit Apartment Property in Des Moines

by Kristin Harlow November 27, 2017

DES MOINES, IOWA — Timberland Partners has acquired Ashley Square in Des Moines for an undisclosed price. The 144-unit apartment property consists of one- and two-bedroom floor plans. Built in 1986, the five-building property features amenities such as an outdoor pool and clubhouse. Planned improvements include new signage, fencing and renovations to unit interiors and clubhouse. All units will receive new flooring, lighting, appliances, countertops and in-unit washers and dryers. This is Timberland’s ninth property that it has acquired in the Iowa market. William Ryan, Alex Blagojevich and Michael Sullivan of Berkadia represented the undisclosed seller.

November 27, 2017

Midwest Office Ohio

Reichle Klein Group Arranges $2.2M Sale of Office Building in Maumee, Ohio

by Kristin Harlow November 27, 2017

MAUMEE, OHIO — Reichle Klein Group has arranged the sale of a 36,000-square-foot office building in Maumee, about 10 miles southwest of Toledo, for $2.2 million. The property is situated on three acres at 1789 Indian Wood Circle within Arrowhead Business Park. John Sluhan of Reichle Klein Group represented the seller, Manhattan Building Co. Marty Gallagher, also of Reichle Klein Group, represented the buyer, Walbridge Investors LLC.

November 27, 2017

Industrial Midwest Ohio

Peak to Construct 409,495 SF Industrial Build-to-Suit in Aurora, Ohio

by Kristin Harlow November 22, 2017

AURORA, OHIO — Peak Construction Corp. has been tasked with building a 409,495-square-foot industrial build-to-suit for an undisclosed distribution company in Aurora, about 30 miles southeast of Cleveland. The property, owned by Scannell Properties, will feature 32-foot clear heights, 30 dock doors, one drive-in door, 20 trailer spaces and parking for 75 cars. Peak has teamed up with Ware Malcomb Architects and Weber Engineering for the project.

November 22, 2017

Midwest Missouri

Hilliker Corp. Arranges Sale of 386,000 SF Historic Building in St. Louis

by Kristin Harlow November 22, 2017

ST. LOUIS — Hilliker Corp. has arranged the sale of the 386,000-square-foot Masonic Temple in St. Louis. The sales price was not disclosed. Completed in 1926, the historic building is located at 3681 Lindell Blvd. Ben Hilliker and Scott Martin of Hilliker Corp. represented the seller, Masonic Temple Association of St. Louis. The Masons plan to move to a new undisclosed location. Realty Exchange represented the buyer, Brandonview LLC. The Masonic Temple features six full-floor levels and eight mezzanine levels. On the first level, there is an unfinished theater designed for 2,200 seats and a grand entry lobby. Before he became U.S. president, Harry Truman maintained an office in the building as senator and freemason grand master.

November 22, 2017

Affordable Housing Illinois Midwest Multifamily

Kiser Group, AHIB Negotiate $11.2M Sale of Affordable Housing Portfolio in Chicago

by Kristin Harlow November 22, 2017

CHICAGO — Kiser Group and Affordable Housing Investment Brokerage Inc. (AHIB) have negotiated the sale of 167 affordable housing units in Chicago for $11.2 million. Lyndale Place is a 67-unit property located at 2575 W. Lyndale St. in the Logan Square neighborhood. Renaissance West is a 111-unit building located at 2517 W. Fullerton Ave. in the Bucktown neighborhood. The Habitat Co. purchased the portfolio from Renaissance Cos. Michael D’Agnostino of Kiser Group and Kyle Shoemaker of AHIB brokered the transaction.

November 22, 2017

Iowa Midwest Multifamily

R&R Realty Opens 137-Unit Apartment Community in Johnston, Iowa

by Kristin Harlow November 22, 2017

JOHNSTON, IOWA — R&R Realty Group has opened Residences at 62W in Johnston, about 10 miles northwest of Des Moines. The 137-unit apartment community features one-, two- and three-bedroom floor plans. The property, located on 62nd Avenue, features amenities such as a health center, yoga room, game room, pet spa and pool deck. West Des Moines, Iowa-based R&R Realty Group is a full-service real estate company with development, brokerage, construction and property management services.

November 22, 2017

Hospitality Michigan Midwest

Ontario Hospitality Completes Development of 83-Suite Hotel in Jackson, Michigan

by Kristin Harlow November 22, 2017

JACKSON, MICH. — Home2 Suites by Hilton has opened in Jackson, about 35 miles south of Lansing, the capital of Michigan. The extended-stay hotel consists of 83 suites. Ontario Hospitality Inc. developed, owns and manages the property, which features fully equipped kitchens, complimentary Internet, breakfast, a combined laundry and fitness area, and indoor pool. The hotel is located at 2704 Bob McClain Drive off I-94.

November 22, 2017

Industrial Midwest Minnesota

CBRE Arranges $70.6M Sale of 1.2 MSF Industrial Portfolio in Suburban Twin Cities

by Kristin Harlow November 21, 2017

MINNEAPOLIS — CBRE has arranged the sale of a 1.2 million-square-foot industrial portfolio in the Twin Cities metro area for $70.6 million. The portfolio, which features 14 buildings across seven properties, includes: Corporate Square in Eagan; Eagan Industrial Warehouse in Eagan; Braemar Business Center in Bloomington; Northpoint Industrial Center in Fridley; France Avenue Business Park in Brooklyn Center; Round Lake Business Center in Arden Hills; and Burnsville Business Center in Burnsville. The portfolio was 81 percent leased at the time of sale to tenants such as Ameriprise Inc., Staples, Supply Technologies LLC and Galil Medical Inc. Ryan Watts, Judd Welliver, Sonja Dusil and Tom Holtz of CBRE marketed the portfolio for sale on behalf of Artis REIT. Capital Partners LLP purchased the portfolio in a joint venture with PCCP LLC.

November 21, 2017

Midwest Missouri Multifamily

Opus Completes 120-Unit Luxury Apartment Property in Suburban St. Louis

by Kristin Harlow November 21, 2017

CLAYTON, MO. — The Opus Group has completed the development and construction of Ceylon Luxury Apartments in Clayton, a suburb of St. Louis. The apartment property features 120 units and first-floor retail space. Ceylon offers two amenity decks with a fitness center, conference room, coffee bar, game room and fire pit. Smoothie King will occupy 1,377 square feet of the retail space, which totals 13,297 square feet. Chris Zoellner and Jared Hancock of Balke Brown Transwestern are marketing the remaining retail space for lease. Opus Development Co. was the project developer and Opus Design Build was the design-builder. Opus AE Group served as architect, structural engineer and interior designer.

November 21, 2017

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