Midwest

Darwin Realty Arranges Sale of 215,000 SF Industrial Building in Bridgeview, Illinois

by Kristin Harlow December 21, 2016

BRIDGEVIEW, ILL. — Darwin Realty has arranged the sale of 9900 Industrial Drive in Bridgeview, about 17 miles southwest of Chicago. Welch Packaging Group Inc., a manufacturer of corrugated packaging, purchased the 215,000-square-foot building. The sales price was not disclosed. Welch will relocate from Countryside to the former crane facility to support its expanding Chicagoland operations. The facility offers heavy power, land for trailer parking and is located immediately off I-294. Welch also plans to add additional improvements to the building. Noel S. Liston and Kevin D. Cooney of Darwin Realty represented Welch in the transaction. Jeff Locascio of Transwestern represented the undisclosed seller.

December 21, 2016

Illinois Industrial Midwest

Liberty Property Trust Acquires Industrial Site Near O’Hare Airport

by Kristin Harlow December 21, 2016

BENSENVILLE, ILL. — Liberty Property Trust has acquired a five-acre industrial site in Bensenville in the O’Hare Airport metro area. Liberty plans to redevelop the site beginning in early 2017. The property is located at 350 N. York Road and includes a 60,000-square-foot building, which Liberty plans to replace with a 96,962-square-foot, high-efficiency building. Features will include 32-foot clear heights, 20 exterior docks and two drive-in doors. Shell completion of the $11.6 million project is expected to be completed in the third quarter of 2017. Matt Neumann of Liberty, along with Steve Stone and Eric Fischer of Cushman & Wakefield, will handle the leasing of the property.

December 21, 2016

Midwest Office Wisconsin

Colliers International Brokers 40,370 SF Office Lease Renewal in Milwaukee Suburb

by Kristin Harlow December 21, 2016

BROWN DEER, WIS. — Colliers International has brokered a 40,370-square-foot office lease renewal for BMO Harris Bank in Brown Deer, a suburb of Milwaukee. The building is located at 4701 W. Schroeder Drive. Lyle Landowski, Scott Welsh and Mike Fardy of Colliers International brokered the transaction.

December 21, 2016

Industrial Midwest Wisconsin

The Dickman Co. Arranges Sale of 12,735 SF Industrial Building in Pewaukee, Wisconsin

by Kristin Harlow December 21, 2016

PEWAUKEE, WIS. — The Dickman Co. Inc./CORFAC International has arranged the sale of a 12,735-square-foot industrial building in Pewaukee, approximately 18 miles west of Milwaukee. The building is located at 633 Cecelia Drive. The buyer, James K. Ihn, purchased the building from Mainka Properties LLC. Cale Berg, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction.

December 21, 2016

Illinois Midwest Northeast Pennsylvania Retail Top Stories

Walgreens Boots Alliance, Rite Aid to Sell 865 Rite Aid Stores to Fred’s Pharmacy for $950M

by Nellie Day December 21, 2016

DEERFIELD, ILL. AND CAMP HILL, PA. — Walgreens Boots Alliance (NASDAQ: WBA) and Rite Aid Corp. (NYSE: RAD) have agreed to sell 865 Rite Aid stores and some assets related to store operations to Fred’s (NASDAQ: FRED) for $950 million in an all-cash transaction. The agreement came about due to concerns by the Federal Trade Commission (FTC) in its review of Walgreens Boots Alliance’s proposed acquisition of Rite Aid, which was announced in October 2015. That transaction is scheduled to close in early 2017. The 865-store sale would make Fred’s one of the largest drugstore chains in the United States, with a significant presence in the South and on the East and West coasts. If the sale is approved, Fred’s will continue to employ all store associates and certain field and regional associates related to the operations. The stores will also continue to operate under the Rite Aid banner. Fred’s has also agreed to purchase additional Rite Aid stores if the FTC mandates additional divestments for the proposed merger. BofA Merrill Lynch acted as Walgreens Boots Alliance’s financial adviser. Sidley Austin LLP acted as legal counsel on transaction legal matters and Weil, Gotshal & Manges LLP acted as its legal …

December 21, 2016

Illinois Industrial Midwest

NAI Hiffman Arranges Sale of 100,000 SF Industrial Property in Bensenville, Illinois

by Kristin Harlow December 20, 2016

BENSENVILLE, ILL. — NAI Hiffman has arranged the sale of 516-554 N. York Road in Bensenville within the O’Hare submarket. The 100,000-square-foot industrial complex features 16-foot clear heights and approximately 1,500 to 3,000 square feet of built-in office space and one dedicated exterior dock per unit. At the time of purchase, the building was 85 percent occupied. John Whitehead of NAI Hiffman represented the buyer, Cordoba Properties. Whitehead and Josh Will of NAI Hiffman have been retained to lease the remaining 15,000 square feet of vacant space. The seller was not disclosed.

December 20, 2016

Industrial Midwest Wisconsin

The Dickman Co. Brokers Sale of 33,000 SF Industrial Building in Milwaukee

by Kristin Harlow December 20, 2016

MILWAUKEE — The Dickman Co. Inc./CORFAC International has brokered the sale of a 33,000-square-foot industrial building located at 7878 N. 86th St. in Milwaukee. The sales price was not disclosed. Nick Keys of the Dickman Co. represented the buyer, 7878 North LLC. Scott Furmanski of CBRE represented the seller, 7878 Associates LLC.

December 20, 2016

Midwest Retail Wisconsin

Mid-America Negotiates 23,496 SF Lease for TJ Maxx in Menomonee Falls, Wisconsin

by Kristin Harlow December 20, 2016

MENOMONEE FALLS, WIS. — Mid-America Real Estate has negotiated a 23,496-square-foot lease for TJ Maxx at Whitestone Station in Menomonee Falls near Milwaukee. The 67-acre mixed-use development is located on Falls Parkway and is anchored by Costco. Dan Cohen and Tony Colvin of Mid-America represented TJ Maxx in the lease transaction.

December 20, 2016

Midwest Minnesota Multifamily Student Housing

Marcus & Millichap Arranges $1.3M Sale of Student Housing Building in Minneapolis

by Kristin Harlow December 20, 2016

MINNEAPOLIS — Marcus & Millichap has arranged the sale of 860 10th Ave. Southeast in Dinkytown, a commercial district within Minneapolis, for $1.3 million. The nine-unit student housing building was constructed in 1990 and features 24 beds. Josh Talberg, Mox Gunderson, Dan Linnell, Adam Haydon and Abe Roberts of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The Marcus & Millichap team also represented the buyer, a private investor.

December 20, 2016

Midwest Missouri Retail

Olivino Signs 1,585 SF Lease at Streets of St. Charles in Suburban St. Louis

by Kristin Harlow December 20, 2016

ST. CHARLES, MO. — Olivino has signed a 1,585-square-foot lease at The Streets of St. Charles near St. Louis. Olivino is a specialty shop and tasting bar offering olive oils, balsamic vinegars and more cooking items. Other recent additions to the 27-acre mixed-use property include Orangetheory Fitness, Think Pink Nail & Spa and Firebirds Wood Fired Grill. Construction on the new Drury Hotel is underway, with completion slated for summer 2017. Additional tenants will be announced in the coming months.

December 20, 2016

Newer Posts

Older Posts