Midwest

Boulder Group Brokers $4.2M Sale of Three-Tenant Retail Center in Romeoville, Illinois

by Christina Cannon July 27, 2016

ROMEOVILLE, ILL. — The Boulder Group has brokered the sale of a three-tenant, net-leased shopping center in Romeoville, approximately 40 miles southwest of Chicago, for $4.2 million. The property is located at 253 S. Weber Road, and tenants include Chipotle, Dunkin’ Donuts and Sleepy’s. Target and Kohl’s shadow anchor the center, which was built in 2014. The buyer was a Northeast-based real estate investment company in a 1031 exchange transaction. The seller was a Midwest real estate company. Dunkin’ Donuts and Chipotle have approximately eight years remaining on their lease, and Sleepy’s has six years remaining on its lease.

July 27, 2016

Loans Midwest Ohio Retail

Franklin Street Closes $3.2M Loan for 16,200 SF Shopping Center Near Cincinnati

by Christina Cannon July 27, 2016

WEST CHESTER, OHIO — Franklin Street Capital Advisors has closed a $3.2 million loan for a 16,200-square-foot retail strip center in West Chester, approximately 25 miles north of Cincinnati. Union Place is fully occupied and includes tenants such as First Watch, PNC Bank, El Rancho Bueno and Jimmy John’s. The shopping center is situated on 5.5 acres and was built in 2004. Ben Miller and Casey Siggins of Franklin Street Capital secured the loan on behalf of the buyer in a 1031 exchange. The five-year loan includes a 4.2 percent fixed rate with a 25-year amortization schedule. Fort Knox Federal Credit Union was the lender.

July 27, 2016

Michigan Midwest

University of Michigan’s Michigan Union to Undergo $85.2M Renovation

by Christina Cannon July 26, 2016

ANN ARBOR, MICH. — The Michigan Union, a student life building at The University of Michigan, will undergo an $85.2 million renovation. The project, which was approved by the Board of Regents last week, will add social space on the main level, improve lounge and study space, feature counseling and student support services and enhance ballroom meeting space. The building, originally opened in 1919, will also improve the space for people with disabilities and feature safety, electrical, mechanical and plumbing improvements. Student fees and investment proceeds will fund the project. Design Solutions, Workshop Architects Inc. and Hartman-Cox Architects will collaborate on the design of the project.

July 26, 2016

Illinois Industrial Midwest

IDI Gazeley Breaks Ground on 749,554 SF Speculative Industrial Building in Illinois

by Christina Cannon July 26, 2016

CHANNAHON, ILL. — IDI Gazeley has broken ground on a 749,554-square-foot speculative industrial building in Channahon, approximately 55 miles southwest of Chicago. The facility is the first of four buildings to be constructed at the Channahon Corporate Center, a 100-acre, master-planned industrial and logistics park that will offer approximately 2 million square feet of space once complete. The first building, located at 23700 W. Bluff Road, is scheduled for completion in the first quarter of 2017. The facility will be expandable to 1.3 million square feet and will include amenities such as 36-foot clear heights, 86 loading docks, 440 parking spaces and 192 trailer spaces.

July 26, 2016

Midwest Minnesota Office

Opus Completes 222,000 SF Headquarters Building in Downtown Minneapolis for Xcel Energy

by Christina Cannon July 26, 2016

MINNEAPOLIS — The Opus Group has completed a new office headquarters property for Xcel Energy in downtown Minneapolis. The 222,000-square-foot project is located at the north end of Nicollet Mall, a 12-block shopping, dining and commercial district. 401 Nicollet is a two-building campus that consolidated operations that were previously spread throughout Minneapolis. The complex features collaborative work spaces with flexible furniture, technology and conference areas, as well as a skyway that connects the two nine-story buildings.

July 26, 2016

Illinois Industrial Midwest

Cenveo Corp. Sells Two Industrial Buildings in Chicago in Sale-Leaseback Deal

by Christina Cannon July 26, 2016

CHICAGO — Cenveo Corp., a paper products company, has sold two industrial buildings located in Chicago in a sale-leaseback transaction for an undisclosed price. An affiliate of Hackman Capital Partners LLC acquired the facilities, which total 195,436 square feet. The adjacent property consists of a 150,084-square-foot manufacturing facility at 3001 N. Rockwell St. and a 45,351-square-foot warehouse and distribution building at 2950 N. Campbell Ave.

July 26, 2016

Midwest Ohio Retail

The Barre Code to Open in Downtown Cincinnati

by Christina Cannon July 26, 2016

CINCINNATI — Chicago-based fitness franchise The Barre Code is set to open a new location at 615 Main St. in downtown Cincinnati early next year. The new 2,250-square-foot location will include a studio room and changing rooms with fully stocked vanity areas. Megan Fair of CBRE represented the tenant in the lease transaction. CBRE’s project management team is also facilitating a buildout at the location.

July 26, 2016

Michigan Midwest Retail

CBL & Associates Sells Two Malls in Michigan for $66.5M

by Christina Cannon July 25, 2016

SAGINAW AND MUSKEGON, MICH. — CBL & Associates Properties Inc. has sold two shopping malls in Michigan for $66.5 million. The private buyer was undisclosed. The properties include the 901,181-square-foot Fashion Square Mall in Saginaw and the 645,677-square-foot The Lakes in Muskegon. The sale price included the assumption of a $38.2 million loan secured by the Fashion Square Mall. CBL & Associates is an owner and developer of malls and shopping centers throughout the United States.

July 25, 2016

Loans Midwest Minnesota Multifamily

Dougherty Mortgage Closes $4.5M Loan for 81-Unit Affordable Apartment Complex Near St. Paul

by Christina Cannon July 25, 2016

MAPLEWOOD, MINN. — Dougherty Mortgage LLC has closed a $4.5 million Fannie Mae loan to refinance Sibley Cove Apartments, an 81-unit affordable housing complex in Maplewood, five miles north of St. Paul. Units include washers and dryers, walk-in closets and kitchen appliances. Community amenities include a heated underground parking garage, playground, fitness center and a car wash station. The adjustable-rate loan features a seven-year term and 30-year amortization schedule. The borrower is Sibley Cove LP.

July 25, 2016

Midwest Minnesota Mixed-Use

Gaughan Cos. Completes 20,400 SF Office, Retail Property in Minneapolis Suburb

by Christina Cannon July 25, 2016

FOREST LAKE, MINN. — Gaughan Cos./CORFAC International has developed a 20,400-square-foot mixed-use property in Forest Lake, approximately 30 miles northeast of Minneapolis. The property is situated within the City Center Commons retail center. Tenants at the property include Keller Williams, Maplewood Oral Surgery and Thrifty White. There is approximately 3,000 square feet still available for a fast-casual restaurant.

July 25, 2016

Newer Posts

Older Posts

Upcoming Events

Aug
06