Midwest

CBRE Arranges Sale of 300,608 SF Industrial Facility in Bartlett, Illinois

by Kristin Harlow June 19, 2017

BARTLETT, ILL. — CBRE has arranged the sale of a 300,608-square-foot industrial facility in Bartlett, about 35 miles northwest of Chicago. The sales price was not disclosed. The property is located at 1340 Brewster Creek Blvd. on a 16.5-acre site within the Brewster Creek Business Park. Built in 2008, the building features 30-foot clear heights, 4,160 square feet of office space, 65 car stalls and 64 exterior docks. Matt Mulvihill, Kevin Segerson and Cal Payne of CBRE represented the seller, Brewster Creek of Illinois LLC. Jeff Fischer of NAI Hiffman represented the buyer, Greco & Sons.

June 19, 2017

Industrial Midwest Missouri

Hilliker Corp. Brokers Sale of 132,000 SF Warehouse Building in St. Louis

by Kristin Harlow June 19, 2017

ST. LOUIS — Hilliker Corp. has brokered the sale of a 132,000-square-foot warehouse building in St. Louis. The sales price was not disclosed. Serioplast purchased the building with plans to convert it into a plastic bottle manufacturing plant. This will be the company’s first location in North America. Production is expected to begin in the first quarter of 2018. The building is located at 4400 Planned Industrial Drive near I-70. Chris Taff of Hilliker Corp. represented both Serioplast and the seller, Lineage Warehousing.

June 19, 2017

Illinois Midwest Office

Convene Signs 55,000 SF Office Lease at Willis Tower in Chicago

by Kristin Harlow June 19, 2017

CHICAGO — Convene, an operator of full-service meeting and event venues, has signed a 55,000-square-foot office lease for the entire third floor of the 108-story Willis Tower in Chicago. This will be the largest location for the operator of full-service meeting and event venues. Convene provides companies with an outsourced real estate solution for housing large-scale conferences, town halls, corporate events, training sessions and board meetings. The company’s in-house architecture and design team will design the location in Willis Tower. Planned features include 11 flexible meeting and event spaces, as well as breakout space, reception space and two large private outdoor patios, all available for rent by building tenants and outside enterprise companies. The largest rooms will accommodate up to 600 participants. Todd Siegel, Phil Golding and Kim Wiskup of CBRE represented the landlord, Equity Office, in the lease transaction. Craig Coupe and Corey Siegrist of JLL represented Convene. The company plans to occupy the space by the third quarter of 2019.

June 19, 2017

Illinois Midwest Retail

Baum Arranges $2.3M Sale of Retail Building in Orland Park, Illinois

by Kristin Harlow June 19, 2017

ORLAND PARK, ILL. — Baum Realty Group LLC has arranged the sale of a two-tenant retail building in Orland Park for $2.3 million. The property is located at 24 Orland Square Drive. Blaze Pizza and Pearle Vision occupy the property. Patrick Forkin, Brad Teitelbaum and Graham Gold of Baum represented the seller, a local development group. A private West Coast investor was the buyer.

June 19, 2017

Illinois Midwest Retail

Cullinan Properties to Develop 7,680 SF Retail Building at The Levee District in East Peoria, Illinois

by Kristin Harlow June 19, 2017

EAST PEORIA, ILL. — Cullinan Properties is developing a 7,680-square-foot retail building at The Levee District in East Peoria. The multi-tenant building, currently under construction in central Illinois, will be located at 4015 Spinder Drive between Panda Express and McDonald’s. T-Mobile will open at the building this fall, with additional tenants to be announced. Anchored by Target, The Levee District is over 90 percent occupied by tenants including Ross, Ulta, Tequila’s Mexican Restaurant, Jenny Craig and Heartland Dental. The property encompasses more than 86 acres.

June 19, 2017

Illinois Midwest Multifamily

McShane to Construct 45-Unit Apartment Property in Arlington Heights, Illinois

by Kristin Harlow June 16, 2017

ARLINGTON HEIGHTS, ILL. — McShane Construction Co. is building Parkview Apartments in downtown Arlington Heights. UP Development LLC is the developer. The seven-story building, under construction on an infill site, is located at the southwest corner of Dunton Avenue and Eastman Street. The project will include 45 residential units and 1,314 square feet of ground-floor retail space. Residences will be located on the upper five floors while the second floor and a portion of the first floor will house parking spaces. The property will feature a mix of one-, two- and three-bedroom units. Amenities will include a community room and fitness center. Tinaglia Architects Inc. is providing architectural services. Completion is slated for the second quarter of 2018.

June 16, 2017

Midwest Missouri Multifamily

Berkadia Brokers Sale of 528-Unit Multifamily Property in Maryland Heights, Missouri

by Kristin Harlow June 16, 2017

MARYLAND HEIGHTS, MO. — Berkadia has brokered the sale of Pheasant Run in Maryland Heights, a suburb of St. Louis. The sales price was not disclosed. The 528-unit multifamily property is located at 12302 Inletridge Drive. The building features one- and two-bedroom apartment-style units, as well as two- and three-bedroom townhomes. Amenities include two swimming pools with sundecks, a walking trail, fitness center, indoor basketball and tennis courts and a children’s play area. Ken Aston and Andrea Kendrick of Berkadia arranged the sale on behalf of the seller, Lipton Group.

June 16, 2017

Midwest Ohio Retail

Colliers Arranges $11.5M Sale of Retail Property Near Akron, Ohio

by Kristin Harlow June 16, 2017

CUYAHOGA FALLS, OHIO — Colliers International has arranged the sale of Cuyahoga Falls Market Center in Cuyahoga Falls, about five miles north of Akron, for $11.5 million. The 76,358-square-foot retail center includes tenants such as PetSmart, Big Lots, Five Below, Chipotle, Verizon Wireless and Starbucks. Kevin James and Grant Chaney of Colliers arranged the sale on behalf of the seller, Cuyahoga Falls LLC. A New York City-based private investor purchased the property.

June 16, 2017

Illinois Midwest Multifamily

Interra Brokers $3.7M Sale of Multifamily Property in Chicago

by Kristin Harlow June 16, 2017

CHICAGO — Interra Realty has brokered the sale of a 16-unit multifamily property in Chicago’s Lincoln Park for $3.7 million. The property, located at 1955 N. Lincoln Ave., features four studios and 12 one-bedroom units. Brad Feldman and Adam Saxon of Interra represented the buyer, a local developer, as well as the sellers, Ron and Nancy Hollmeier. The Hollmeiers have owned the property since 1999. The new owner plans to renovate the units to increase rents.

June 16, 2017

Michigan Midwest Retail

NAI Wisinski Negotiates Third Michigan Location for Employment Agency

by Kristin Harlow June 16, 2017

LOWELL, MICH. — NAI Wisinski of West Michigan has negotiated a third Michigan location for Fettig Employment Agency in Lowell, about 18 miles east of Grand Rapids. The agency began occupying the 1,087-square-foot retail storefront at 11635 Fulton St. last month. The company, founded in 1995, also maintains locations in Rockford and Grand Rapids. Todd Leinberger and Doug Taatjes of NAI Wisinski negotiated the two-year lease on behalf of Fettig. Tri-Cord Enterprises is the building landlord.

June 16, 2017

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