AURORA, OHIO — The Cooper Commercial Investment Group has arranged the sale of Barrington Town Center in Aurora, about 30 miles southeast of Cleveland, for $13.1 million. The 112,631-square-foot shopping center is shadow anchored by Heinen’s Grocery and is home to Cinemark, Dollar Tree, University Hospitals, Howard Hanna, Great Clips, Pizza Hut, The UPS Store, Subway and GNC. Dan Cooper of Cooper Commercial represented the institutional seller and secured the buyer, a private investment group based in the Northwest.
ROCHESTER HILLS, MICH. — Lightning Technologies LLC has signed a 27,730-square-foot industrial lease in Rochester Hills, about 25 miles north of Detroit. The manufacturer of polyurea spray coating for shipping pallets will occupy the space at 2700 Bond St. Jay-R Development LLC is the building’s landlord. Larry Schultz of Friedman Integrated Real Estate Solutions represented the tenant in the lease transaction.
WALWORTH, WIS. — Marcus & Millichap has arranged the sale of a retail property net leased to Burger King in Walworth southern Wisconsin for $1.1 million. The 3,140-square-foot building is located at 106 State Road 67. Burger King fully remodeled the property last year and signed a new 20-year lease. Nathan Coe and Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a developer. Todd Lindblom of Marcus & Millichap also assisted in the sale transaction.
PLYMOUTH TOWNSHIP, MICH. — KIRCO/KIRCO MANIX has broken ground on an 80,000-square-foot manufacturing facility in Plymouth Township, about 30 miles west of Detroit. The building, located at 41144 Concept Drive, will be home to Oerlikon Metco Inc. Peter E. Kepic and Peter J. Kepic of Colliers International coordinated the project on behalf of Oerlikon Metco. The Switzerland-based industrial and technology solutions group plans to use this location for producing advanced titanium alloys and high-end thermal spray powders for the automotive, aerospace, agricultural and medical industries. The facility is slated for completion in the spring of 2018.
BOLINGBROOK, ILL. — S&S Activewear has signed a 28,746-square-foot office lease at 220 Remington in Bolingbrook. The imprintable clothing, accessory and uniform wholesaler will be moving its office staff to the new location while maintaining industrial operations at 581 Territorial Drive in Bolingbrook. Indevor Development purchased 220 Remington in the summer of 2016, and made renovations to the 81,000-square-foot property including a new parking lot, roof, HVAC system, lobby and elevators. John Millner and Ryan Moen of Bradford Allen negotiated the lease transaction on behalf of Indevor Development. Britt Casey and Ned Franke of Cushman & Wakefield represented S&S Activewear.
Soaring Pine Capital Provides $1.7M Loan for Acquisition of Industrial Portfolio in Suburban Detroit
OAK PARK, MICH. — Soaring Pine Capital has provided a $1.7 million loan for the acquisition of an industrial portfolio in Oak Park, a northern suburb of Detroit. The borrower, Paramount Industrial Machining Inc. (PIMI), used the loan to purchase three industrial buildings formerly owned by Paramount Precision Products Inc. PIMI is a leading supplier of precision component machining for the automotive, industrial, service and aftermarket business segments.
MORTON GROVE, ILL. — Celtic Chicago Inc. has moved from Niles, Ill., to an 8,200-square-foot office in Morton Grove, a suburb of Chicago. The marketing agency now occupies the office location at 8120 Lehigh Ave. Jason Hall of Charlie Green Studio designed the interior of the one-story office. The layout, a combination of large and small meeting areas, encourages employee collaboration.
KALAMAZOO, MICH. — NewCraft Cabinetry has opened a 4,446-square-foot retail store at Hatfield Avenue in Kalamazoo. This will be the cabinetry company’s first retail location. Marc Tourangeau and Kara Schroer of NAI Wisinski arranged the lease transaction for the standalone store.
CHICAGO — The Park at Wrigley is set to open next week in Chicago. Hickory Street Capital, a real estate development company owned by the Ricketts family, designed and built the Park at Wrigley as well as the office and retail building adjacent to Wrigley Field to provide a year-round, family-friendly gathering place for neighbors, Cubs fans and visitors. Slated as Wrigleyville’s true town square, the area will play host to community festivals, farmers markets, music and dining throughout the year. Several retail tenants will anchor the Park at Wrigley development, including a Starbucks store with a Reserve coffee bar, a two-story tavern-style restaurant, a new flagship Cubs Store, a Jostens retail jewelry concept and a viewing area presented by Motorola for the Chicago Cubs’ 2016 World Championship Trophy. A ribbon-cutting ceremony will take place on Monday, April 10. The Ricketts family owns the Chicago Cubs.
FLAT ROCK, ROMEO AND WAYNE, MICH. — The Michigan Strategic Fund board has approved performance-based grants and State Essential Services Assessment Exemptions to support Ford Motor Co.’s investment of approximately $2 billion in the automaker’s Flat Rock, Wayne and Romeo assembly plants. As part of the agreement, Ford will create approximately 700 new jobs at its Flat Rock Assembly Plant and approximately 100 new jobs at the Romeo Engine Plant. Ford plans to invest approximately $1 billion at its Flat Rock plant to build a data center and transform the plant into a manufacturing innovation center capable of producing electrified and autonomous vehicles, in addition to the Ford Mustang and Lincoln Continental. Ford expects to begin producing the first of these vehicles in 2020, including an all-new fully electric small SUV engineered to deliver an estimated range of at least 300 miles and its first fully autonomous hybrid vehicle for commercial application. The company will invest $1 billion in its Romeo and Wayne facilities, primarily to support Ford Ranger and Ford Bronco production.