Midwest

Birchwood Foods Signs 52,800 SF Industrial Lease in Columbus, Ohio

by Kristin Harlow July 11, 2017

COLUMBUS, OHIO — Birchwood Foods has signed a 52,800-square-foot industrial lease in Columbus. The Kenosha, Wisconsin-based meat supplier will occupy the entire building located at 1709-1763 Dividend Drive for its Columbus warehouse and distribution operations. The company also owns the production facility adjacent to this property. Ray Boll and Jeff Boll of Rj BOLL Realty arranged the lease on behalf of Birchwood Foods. Matt Osowski and Curt Berlin of NAI Ohio Equities represented the landlord, Meritex Properties.

July 11, 2017

Illinois Midwest Multifamily

Marcus & Millichap Negotiates Sale of 42-Unit Apartment Building in Mount Prospect, Illinois

by Kristin Harlow July 11, 2017

MOUNT PROSPECT, ILL. — Marcus & Millichap has negotiated the sale of Rand Park Apartments in Mount Prospect, about 22 miles northwest of Chicago. The sales price was not disclosed. The 42-unit apartment building is located at 1050-1110 N. Wheeling Road. The unit mix is comprised of 18 one-bedroom units and 24 two-bedroom units measuring approximately 650 and 850 square feet, respectively. Ryan D. Engle and Andrean Angelov of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also procured the buyer, a limited liability company.

July 11, 2017

Midwest Office Wisconsin

CBRE Arranges $66.5M Sale of Office Building in Milwaukee

by Kristin Harlow July 10, 2017

MILWAUKEE — CBRE Capital Markets has arranged the sale of Manpower’s headquarters in Milwaukee for $66.5 million. The 280,000-square-foot office building is located at 100 Manpower Place. The Class A property is fully net leased through August 2031 to Manpower Group Inc., a human resources consulting firm. Guy Ponticiello, Paul Lundstedt, Bill Bonifas and Maury Vanden Eykel of CBRE represented the seller, Riverbend Place. Bentall Kennedy purchased the building in partnership with Warba Bank.

July 10, 2017

Healthcare Michigan Midwest

Marcus & Millichap Brokers $30M Sale of Three Medical Office Buildings in Michigan

by Kristin Harlow July 10, 2017

BATTLE CREEK, LAKE ORION AND WASHINGTON, MICH. — Marcus & Millichap has brokered the sale of three medical office buildings in Michigan for nearly $30 million. Brookside Medical Center, totaling 46,194 square feet, is located in Battle Creek, about 25 miles east of Kalamazoo. Brookside Surgery Center anchors the building. Bald Mountain Medical Complex, totaling 55,591 square feet, is located in Lake Orion, about 40 miles north of Detroit. St. Joseph Mercy Hospital, a wholly owned subsidiary of Trinity Health, anchors the building. The 37,425-square-foot Orchard View Medical Complex is located in Washington, about 35 miles north of Detroit. Henry Ford Health System, which offers urgent care, orthopedic/family medicine services, on-site pharmacy and oral surgery services, has anchored the building since construction was completed in 2008. Seth Haron and Ashish Vakhariya of Marcus & Millichap marketed the three properties for sale on behalf of the various sellers.

July 10, 2017

Loans Midwest Multifamily Nebraska

Capital One Arranges $14.6M Acquisition Loan for Manufactured Housing Community in Omaha, Nebraska

by Kristin Harlow July 10, 2017

OMAHA, NEB. — Capital One has arranged a $14.6 million Fannie Mae loan for the acquisition of Maplewood Estates in Omaha. The 397-unit manufactured housing community was built in 1973. The 10-year loan features a 30-year amortization schedule. Damon Reed of Capital One arranged the loan. The purchase was part of a 1031 exchange. Capital One also provided financing for the acquisition of Country Acres Village, a manufactured housing community in Kalamazoo, Michigan.

July 10, 2017

Midwest Ohio Retail

RCG Acquires 181,161 SF Shopping Center in Hilliard, Ohio

by Kristin Harlow July 10, 2017

HILLIARD, OHIO — RCG Ventures has acquired Mill Run Square in Hilliard, a suburb of Columbus. The purchase price was not disclosed. The 181,161-square-foot shopping center is located adjacent to I-270. Floor & Decor and Arhaus anchor the property, which is part of Mill Run, a master planned community that is home to several national retailers including Walmart, Lowe’s, Target, Home Depot, Aldi, Giant Eagle, Dave & Buster’s and Starbucks. Isaiah Harf of Stan Johnson represented the undisclosed seller.

July 10, 2017

Iowa Midwest Multifamily

Timberland Partners Purchases 92-Unit Apartment Community in Ankeny, Iowa

by Kristin Harlow July 10, 2017

ANKENY, IOWA — Timberland Partners Investment Fund V has purchased Prairie Lakes in Ankeny for an undisclosed price. The 92-unit apartment community was built in 2013. Timberland Partners plans to remodel the clubhouse and add an outdoor community space with grill stations and seating areas as well as a dog park. Matt Bukhshtaber of CBRE represented the undisclosed seller. This represents the 10th and final acquisition of the fund, which now holds a grand total of 2,135 units.

July 10, 2017

Illinois Midwest Multifamily

Hines Breaks Ground on 698-Unit Luxury Apartment Tower in Chicago

by Kristin Harlow July 7, 2017

CHICAGO — Hines has broken ground on Wolf Point East, a 60-story, 698-unit luxury apartment tower in Chicago. Wolf Point East is the second phase of the three-phase development designed by Pelli Clarke Pelli. The tower is located on one of the last remaining riverfront sites in downtown Chicago. Hines is developing the property in partnership with the property’s longtime landowner, the Joseph P. Kennedy Family, and the AFL-CIO Building Investment Trust, advised by PNC Realty Investors. Bank of America Merrill Lynch led the construction loan financing for the project in conjunction with ULLICO, Citizens Bank and ING Real Estate Finance. Walsh Construction is serving as the general contractor and Pappageorge Haymes Partners is the architect of record. Completion is slated for 2019.

July 7, 2017

Loans Michigan Midwest Multifamily

Love Funding Provides $33.3M Construction Loan for Apartment Community in Detroit Suburb

by Kristin Harlow July 7, 2017

NOVI, MICH. — Love Funding has provided a $33.3 million loan for the construction of Manchester, a 172-unit apartment community in Novi, a suburb of Detroit. The 23-building property will feature two- and three-bedroom townhome units. Fairview Construction is building the development, while Alexander V. Bogaerts & Associates provided design services. KMG Prestige will manage the property. Bruce Gerhart of Love Funding originated the 40-year loan through the HUD 221(d)(4) loan insurance program. Real estate developers Michael and Carolina Furnari and James George were the borrowers.

July 7, 2017

Industrial Midwest Minnesota

CBRE Negotiates $10M Sale of Industrial Building in Maple Grove, Minnesota

by Kristin Harlow July 7, 2017

MAPLE GROVE, MINN. — CBRE Capital Markets has negotiated the sale of the Bass Creek Technology Plaza in Maple Grove, about 17 miles northwest of Minneapolis, for $10 million. The 108,628-square-foot industrial building is located at 6250 Sycamore Lane North. The property is fully leased to ZEISS, a technology firm specializing in optics and optoelectronics. Constructed as a build-to-suit for ZEISS in 2001, the building features office space, manufacturing space and a warehouse. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller, Interstate Partners. STAG Industrial, an investment firm headquartered in Boston, was the buyer.

July 7, 2017

Newer Posts

Older Posts