DETROIT — Liberty Property & Asset Management has been awarded the property management contract for a portfolio of seven office buildings located in metro Detroit. The properties, owned by California-based LSTC Michigan/LSTC California LLC, include: Berkshire Office Building in Beverly Hills; Haverhill Office Building in Troy; Butterfield Park Place in Troy, Hampton Professional Park in Rochester Hills; and Westridge Office Center in West Bloomfield. Liberty will be responsible for all aspects of the management and operation of the properties, while sister company L. Mason Capitani CORFAC International will continue to oversee leasing.
CHICAGO — Skender Construction has completed a 21,000-square-foot office build-out for The Climate Corp., a subsidiary of Monsanto Co. The company creates digital tools to help farmers sustainably increase their productivity. The new office, located at 1330 W. Fulton Market, incorporates rustic wood walls, oversized barn doors and an antique tractor on display. Two workshops house the company’s equipment and ongoing projects. A large break room offers ping pong and foosball for employees. Skender collaborated with architect Shive-Hattery and COR Consulting for the project.
MILFORD, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant property net leased to Starbucks in Milford, about 15 miles northeast of Cincinnati, for $1.8 million. The 2,107-square-foot retail property was newly constructed this year and features 10 years of initial lease term. Dan Cooper represented the undisclosed seller. A California-based buyer purchased the property.
OWATONNA, MINN. — Upland Real Estate Group Inc. has arranged the sale of Three Corners Marketplace in Owatonna, located in southern Minnesota, for $1 million. The 7,666-square-foot retail property is fully leased to four tenants including Caribou Coffee, Subway, Re-Bath and Midnight Sun Spas. Keith Sturm, Deborah Vannelli and Amanda Leathers of Upland represented the undisclosed seller. The private buyer was completing a 1031 exchange.
ELK GROVE VILLAGE, ILL. — Avison Young has negotiated the sale of a three-building, 538,236-square-foot industrial portfolio in Elk Grove Village for an undisclosed price. The buildings are located near the Chicago O’Hare International Airport in the O’Hare submarket. The properties include: 1900 Pratt Blvd., a 111,338-square-foot building; 1950 Pratt Blvd., a 165,212-square-foot building; and 2000-2020 Pratt Blvd., a 261,686-square-foot building. The portfolio is 100 percent leased to Clear Lam and D&W Fine Pak, both of which are packaging manufacturers for the food industry. Erik Foster and Mike Wilson of Avison Young represented the seller, Australia-based Mirvac. LBA Realty purchased the portfolio.
MILWAUKEE — CBRE has arranged the sale of Sunset Ridge in Milwaukee for an undisclosed price. The 144-unit apartment property is located at 8183 N. 107th St. Constructed between 1981 and 1992, the property features a mix of one- and two-bedroom units across seven buildings. The property was 98 percent occupied at the time of sale. Patrick Gallagher, Benjamin Schmitt, Peter Langhoff and Max Schultz of CBRE represented the seller, Mandel Group. Weidner Apartment Homes purchased the property.
COLUMBUS, OHIO — EFL Expo Freight has signed a 70,955-square-foot industrial lease at Creekside Industrial Center in Columbus. The company will occupy the space in the 155,866-square-foot CreekSide XVI building, one of two speculative facilities nearing completion at the center. The building features 32-foot clear heights. Mike Spencer of Lee & Associates represented EFL Expo Freight in the lease transaction. Phil Rasey of The Pizzuti Cos. represented ownership, a partnership between Pizzuti and USAA Real Estate.
DOWNERS GROVE, ILL. — NEC Display Solutions of America has signed a 47,714-square-foot office lease in Downers Grove, a western suburb of Chicago. The property is located at 3250 Lacey Road. Included in the new headquarters will be a 6,000-square-foot technology showcase and demo facility for client engagement, as well as a 5,000-square-foot research and development lab. The designer and provider of LCD displays is moving from a 40,000-square-foot office in Itasca, Ill. Chad Freese, Paul Diederich, Matthew Frazee and Jon Springer of CBRE represented NEC in the lease transaction. Phil Sheridan of CBRE represented the owner, Hamilton Partners.
SCHAUMBURG, ILL. — Baum Realty Group LLC has arranged the sale of a 4.8-acre property net leased to a Hyundai car dealership in Schaumburg for $6.3 million. The property is located at 1020 E. Golf Road near Woodfield Mall. Patrick Forkin represented the seller, a local investor who had owned the property for over 30 years.
MINNEAPOLIS — Westmount Realty Capital has acquired a five-building, 845,622-square-foot industrial portfolio in Minneapolis. The purchase price was not disclosed. Located near the Minneapolis-St. Paul International Airport, the portfolio is fully occupied. With this acquisition, Westmount now maintains more than 8 million square feet of industrial space in the Midwest region. Colliers International brokered the transaction. The seller was not disclosed.