WEST CHESTER TOWNSHIP, OHIO — Marcus & Millichap has brokered the sale of a Texas Roadhouse ground lease in West Chester Township, about 25 miles north of Cincinnati, for $2.5 million. The 7,163-square-foot net leased property is located at 7309 Kingsgate Way and has a 15-year ground lease. Craig Fuller, Erin E. Patton and Scott Wiles of Marcus & Millichap marketed the property on behalf of the seller, a local private developer. An out-of-state buyer completing a 1031 exchange was the purchaser.
OVERLAND PARK, KAN. — The Keith Corp. (TKC) has sold the Quintiles Building in Overland Park for an undisclosed price. The 239,366-square-foot office building is located at 6700 W. 115th St. just southeast of the intersection of College Boulevard and Metcalf Avenue. The building was originally constructed as a build-to-suit for Quintiles in 2006. The integrated information and technology-enabled healthcare company recently extended its 176,839-square-foot lease through 2023. Honeywell took occupancy of the remaining 62,527 square feet in June 2017. Mark Katz, Peter Merrion and Sean Fogarty of HFF marketed the asset for sale on behalf of TKC. The buyer was not disclosed.
AMES, IOWA — Arrimus Capital has acquired Stadium View, a student housing property adjacent to Iowa State University in Ames. The purchase price was not disclosed. The 518-bed property is located at 1206 S. Fourth St. near Jack Trice Stadium, home of the Iowa State Cyclones football team. The seller, Haverkamp Properties, opened Phase I of the community in 2016 followed by Phase II in 2017. The property offers 197 units with a mix of two-, three- and four-bedroom units and was 99 percent leased at the time of sale. Amenities include a fitness center, clubhouse, study lounge and fire pit. Brian Kelly of HFF brokered the transaction.
OMAHA — Darland Construction Co. has completed the new corporate headquarters and dealership for Truck Center Cos. in Omaha. The 180,000-square-foot property is located on a 26-acre site at the corner of I-80 and Highway 50. The two-building project features a full-service body shop, 60 service bays, an on-site diesel tech training center and a 34,000-square-foot parts warehouse. Darland completed the project more than two months ahead of schedule. Schemmer was the project architect.
MUNDELEIN, ILL. — SVN | Chicago Commercial has brokered the sale of Orchard Technology Center in Mundelein, a northern suburb of Chicago, for $1.9 million. The 60,000-square-foot flex office building features pharmaceutical research space that was built by Baxter Travenol. The building consists of three separate laboratory blocks that total 30,000 square feet and three office/flex blocks that also total 30,000 square feet. Michael Rudman, John Guill and John McDermott of SVN | Chicago Commercial represented the buyer in the transaction. Neither the buyer nor the seller was disclosed.
CHICAGO — Ware Malcomb has completed interior architecture and design services for the corporate headquarters of Purohit Navigation at Willis Tower in Chicago. The healthcare communications and advertising agency now occupies 10,000 square feet on the 62nd floor of the office tower. The design emphasizes a central collaborative area with open space. All millwork was custom designed to fit Purohit’s needs. Bear Construction was the general contractor for the project.
SCHAUMBURG, ILL. — KeyBank Real Estate Capital has provided a $21.7 million Freddie Mac loan for the acquisition of Legacy at Poplar Creek in Schaumburg. Built in 1986, the 196-unit multifamily property is comprised of 20 two-story buildings. Trevor Ritter of KeyBank originated the seven-year loan. The borrower was not disclosed.
LOCKPORT, ILL. — Illinois Tool Works Inc. (ITW) has signed a 102,390-square-foot industrial lease in Lockport, 30 miles southwest of Chicago. ITW is a global manufacturer of engineered fasteners and components. The 293,872-square-foot industrial facility is located within Heritage Crossing, a 228-acre business park. H. Charles Osweiler of Nicolson Porter & List represented ITW in the lease transaction. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented ownership, ML Realty Partners.
MILWAUKEE — The Manitowoc Co. has signed a 16,266-square-foot office lease at One Park Plaza in Milwaukee for its corporate headquarters. The global manufacturer of cranes and lifting solutions for the construction industry will occupy the space within the Park Place office park by the end of the first quarter. The 199,326-square-foot office building is one of the 24 buildings that make up the office park. The move will allow the company better access to infrastructure and a larger talent pool, according to David Antoniuk, senior vice president and CFO of Manitowoc. Matt Hunter of CBRE represented Manitowoc in the lease transaction. Alyssa Geisler, also of CBRE, represented the landlord, GLL Real Estate Partners.
LAKEWOOD, OHIO — Hunt Mortgage Group has provided a $6 million Freddie Mac loan for the refinancing of Harbour View in Lakewood, about seven miles west of Cleveland. The 131-unit apartment property is located at 1370 Sloane Ave. Built in 1971, the nine-story building is currently 98 percent occupied. The borrower, Harbour View Associates Ltd., has invested more than $1 million in capital improvements to the property over the last five years. The 10-year loan features a 30-year amortization schedule.