Midwest

SkyView Advisors Arranges Sale of 122,239 SF Self-Storage Facility in Ridgeville, Ohio for $4.8M

by Kristin Harlow March 8, 2017

NORTH RIDGEVILLE, OHIO — SkyView Advisors has arranged the sale of Fields Store-All in North Ridgeville, about 20 miles south of Dayton. The 122,239-square-foot self-storage facility sits on approximately eight acres. Valley Storage purchased the property from Fields Store-All LTD. Built between 1979 and 1997, the facility consists of 261 non-climate controlled units. The units range in size from 45 square feet to 1,200 square feet. Ryan Clark of SkyView Advisors represented the seller in the transaction.

March 8, 2017

Midwest Missouri Retail

OMG Soccer Signs 5,800 SF Retail Lease in St. Louis Suburb

by Kristin Harlow March 8, 2017

MAPLEWOOD, MO. — OMG Soccer has signed a 5,800-square-foot retail lease in Maplewood, a western suburb of St. Louis. The Los Angeles-based soccer company will occupy the space at 2171 S. Big Bend starting this month. The building was previously home to Miriam Switching Post, a non-profit organization that sold gently used furniture. OMG Soccer will sell soccer equipment and clothing, and plans to open several other stores in the St. Louis area. Patrick McKay of Hilliker Corp. represented the landlord, 2171 Big Bend LLC, and the tenant in the lease transaction.

March 8, 2017

Midwest North Dakota Retail Top Stories

Mall-Based Apparel Chain Vanity to Shutter All 137 Store Locations in 27 States

by Nellie Day March 8, 2017

FARGO, N.D. — Vanity Shop of Grand Forks is shuttering all 137 of its Vanity stores throughout 27 states. Tiger Capital Group is conducting the going-out-of-business sale, which is now underway. The Fargo-based clothing store has roots dating back to the 1950s. The announcement follows the company’s filing for Chapter 11 bankruptcy protection on March 1 in the U.S. Bankruptcy Court for the District of North Dakota. The chain offers discount women’s and children’s apparel and accessories. The heaviest concentration of stores is in the Midwest, particularly Minnesota, Iowa, Wisconsin and Ohio. The stores average 3,000 square feet in size and are mostly located in malls. “The company’s difficult decision to close all stores is emblematic of the pressures facing mall-based specialty apparel retailers in the wake of ever-increasing competition from big-box ‘fast fashion’ chains and e-commerce sites,” says Michael McGrail, COO of Tiger Group. Tiger will also liquidate store fixtures and equipment, as well as furniture, fixtures and equipment from the company’s distribution centers. — Nellie Day

March 8, 2017

Indiana Loans Midwest Multifamily Student Housing

Dougherty Arranges $6.3M Refinancing Loan for Student Housing Property in South Bend, Indiana

by Kristin Harlow March 7, 2017

SOUTH BEND, IND. — Dougherty Mortgage LLC has arranged a $6.3 million Fannie Mae loan for the refinancing of Legacy Village at Notre Dame. The 14-unit student housing property is located in South Bend. The 12-year loan features a 30-year amortization schedule and was arranged through a partnership with Old Capital Lending. RWD Campus Developments LLC was the borrower.

March 7, 2017

Illinois Midwest Office

Entre Commercial Brokers Sale of 30,745 SF Office Building in Mount Prospect, Illinois

by Kristin Harlow March 7, 2017

MOUNT PROSPECT, ILL. — Entre Commercial Realty LLC has brokered the sale of a 30,745-square-foot office building in Mount Prospect, about 22 miles northwest of Chicago. The sales price was not disclosed. Nicholas & Associates, a construction management company based in Mount Prospect, acquired the building along with 5.2 acres of land. The property is located at 1401 Feehanville Drive within Mount Prospect’s Kensington Business Center. Dan Benassi and Mike DeSerto of Entre Commercial represented the buyer in the transaction. Michael Magliano of Cushman & Wakefield represented the undisclosed seller.

March 7, 2017

Midwest Missouri Retail

Party City Signs 11,585 SF Retail Lease in Jefferson City, Missouri

by Kristin Harlow March 7, 2017

JEFFERSON CITY, MO. — Party City Corp. has signed an 11,585-square-foot retail lease in Jefferson City in central Missouri. Party City will occupy the space at Capital Mall, located at 3600 Country Club Drive. Scott Bitney of L3 Corp. represented the landlord, Capital Mall JC1 LLC, in the lease transaction.

March 7, 2017

Industrial Midwest Wisconsin

Dickman Co. Negotiates Sale of 6,000 SF Industrial Building in Butler, Wisconsin

by Kristin Harlow March 7, 2017

BUTLER, WIS. — The Dickman Co. Inc./CORFAC International has negotiated the sale of a 6,000-square-foot industrial building in Butler, about 15 miles northwest of Milwaukee. The building is located at 5127 N. 125th St. Paul Pestka purchased the building from Richard Sommerfelt. TJ Huenerbein, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction.

March 7, 2017

Michigan Midwest Retail

AT&T Signs 3,991 SF Retail Lease in Caro, Michigan

by Kristin Harlow March 7, 2017

CARO, MICH. — AT&T has signed a 3,991-square-foot retail lease on State Street in Caro, about 45 miles north of Flint. AT&T will relocate from its current location on the south side of town and will join Rite Aid at the two-tenant center. Vicki Gutowski, Michael Murphy and Larry Siedell of Gerdom Realty & Investment represented Rite Aid in the sublease.

March 7, 2017

Michigan Midwest Retail Top Stories

Brixmor Property Group Acquires 404,000 SF Shopping Center in Ann Arbor for $102M

by Katie Sloan March 7, 2017

ANN ARBOR, MICH. — Brixmor Property Group (NYSE: BRX) has acquired Arborland Center, a 404,000-square-foot, grocery-anchored shopping center located in Ann Arbor, for $102 million. The property is located between the University of Michigan and Eastern Michigan University at 3600 Washtenaw Ave. Kroger anchors the center, which is also home to tenants including DSW, Old Navy, Marshalls, Maurices, Nordstrom Rack, Starbucks Coffee, Ulta Beauty, Bed Bath & Beyond, Petco and Five Below. The property was previously owned by Stamford, Conn.-based AmCap Inc. and was roughly 96 percent occupied at the time of sale, according to reports by Crain’s Detroit Business. With this acquisition, Brixmor owns four assets totaling over 1 million square feet in metro Ann Arbor. The company’s stock price closed on Monday, March 6, at $22.30 per share, down from $24.04 a year ago. — Katie Sloan

March 7, 2017

Healthcare Kansas Midwest

MedCraft to Develop $5M Medical Facility for Via Christi in Derby, Kansas

by Kristin Harlow March 6, 2017

DERBY, KAN. — MedCraft Healthcare Real Estate LLC is developing a $5 million build-to-suit medical facility for Via Christi Clinic in Derby, a suburb of Wichita. The 15,000-square-foot clinic will be located on the northwest corner of Tall Tree Road and Newberry Street. Completion is slated for this fall. The new building will allow Via Christi to expand from four family medicine and pediatric providers to eight, as well as integrate primary care and physical therapy. The clinic’s current location opened 19 years ago at 1720 Osage Road. Eby Construction is the contractor for the project, and Howard + Helmer Architecture is the project architect.

March 6, 2017

Newer Posts

Older Posts