Midwest

The Barry Company Brokers Sale of 31,200 SF Industrial Property in Milwaukee Suburb

by Christina Cannon May 17, 2016

SUSSEX, WIS. — The Barry Company has brokered the sale of a 31,200-square-foot industrial building in Sussex, approximately 23 miles northwest of Milwaukee. Golner Precision Products Inc. purchased the building, located at W222 N5734 Miller Way, from RLP Rentals for an undisclosed price. Golner Precision plans to remodel the former Spectrum Electric building and intends to expand the facility at a later time. Curt Pitzen of MLG Commercial represented Golner Precision Products in the transaction, and James Young of The Barry Company represented the seller.

May 17, 2016

Midwest Missouri

Kwame Completes $1.1M Expansion of Student Fitness Center for Maryville University

by Christina Cannon May 17, 2016

ST. LOUIS — Kwame Building Group Inc. has completed a $1.1 million expansion of Maryville University’s student fitness center in St. Louis. The John E. and Adaline Simon Athletic Center consists of 3,100 square feet of workout space and 4,260 square feet of athletic staff offices, which were relocated and renovated. The renovation also included the addition of a high-tech conference room for video viewing. ACI Boland provided architectural design services.

May 17, 2016

Midwest Multifamily Ohio Seniors Housing

IPA Arranges $14.5M Sale of Two Seniors Housing Communities Near Cincinnati

by Christina Cannon May 16, 2016

NORWOOD, OHIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $14.5 million sale of Victoria Retirement Community and Victory Park Nursing Home, both located in the Cincinnati suburb of Norwood. Victoria Retirement Community, built in 1991, contains a mix of 90 skilled nursing beds and 68 assisted living beds. Victory Park Nursing Home was built in 1965 and expanded in 1989. It contains 55 skilled nursing beds. The seller was a private family investment group whose operator planned to let its lease expire. The buyer was an undisclosed real estate investment trust with a strong presence in the region that has a new operator lined up.

May 16, 2016

Illinois Industrial Midwest

Molto Properties Acquires Infill Site in Metro Chicago for Future Development of 136,650 SF Industrial Property

by Christina Cannon May 16, 2016

NILES, ILL. — Molto Properties has acquired an industrial property in Niles, approximately 15 miles northwest of Chicago, for an undisclosed price. The facility, located at 7720 Lehigh Ave., is situated on eight acres and was built in 1954. MFRI Inc. was the seller. Molto plans to redevelop the existing site into a 136,650-square-foot, Class A distribution center. The property will feature 32-foot clear heights, 150 car parking spaces and 20 dock doors. The redevelopment is slated for completion by the end of the year.

May 16, 2016

Illinois Industrial Midwest

Brown Commercial Negotiates Sale of Two Industrial Buildings Totaling 96,330 SF in Chicago

by Christina Cannon May 16, 2016

CHICAGO — Brown Commercial Group has brokered the sale of two industrial meat processing facilities totaling 96,330 square feet in Chicago. Bobak Sausage Co., a global manufacturer and distributer of old-world sausages and deli meat, sold the properties for an undisclosed price. The deal includes a 43,382-square-foot building at 5275 S. Archer Ave. and a 52,948-square-foot building at 4630 W. 53rd St. El Cubano Wholesale Meat Inc., a meat packer and distributor that provides meats to restaurants and grocery stores, is the buyer. Dan Brown, Brian Lindgren and Maria McNeil of Brown Commercial represented the seller in the transaction. Ed Wabick, Jimena Sayavedra and Terry Lynch of Paine/Wetzel TCN Worldwide represented the buyer.

May 16, 2016

Illinois Midwest Mixed-Use

Essex Realty Brokers $2.7M Sale of Mixed-Use Property in Chicago

by Christina Cannon May 16, 2016

CHICAGO — Essex Realty Group Inc. has brokered the $2.7 million sale of a mixed-use building in Chicago’s Sheridan Park neighborhood. The buyer and seller in the transaction were undisclosed. The building, located at 4401 N. Clark St., is comprised of 12 apartment units and two street-level retail spaces. The units are a mixture of two- and three-bedroom units. Jim Darrow, Jordan Gottlieb, Doug Imber and Kate Varde of Essex brokered the transaction.

May 16, 2016

Loans Midwest Multifamily Nebraska

NorthMarq Capital Arranges $4M Refinancing Loan for 126-Unit Apartment Property

by Christina Cannon May 16, 2016

OMAHA — NorthMarq Capital has arranged a $4 million dollar refinancing loan for Cedar Heights Apartments, a 126-unit multifamily property in Omaha. Jason Kinnison of NorthMarq arranged the financing for the undisclosed borrower through a relationship with a life insurance company. Amenities at Cedar Heights Apartments include a clubhouse, pool, pet play area and a grill and picnic area.

May 16, 2016

Loans Midwest Multifamily Ohio Seniors Housing

Harborview Closes $73M in Financing for Skilled Nursing Operator CommuniCare

by Christina Cannon May 13, 2016

BLUE ASH, OHIO — Harborview Capital Partners has arranged $73 million in loans for the refinancing of a skilled nursing portfolio operated by CommuniCare, a healthcare owner-operator based in the Cincinnati suburb of Blue Ash. The nine-building portfolio includes 936 beds and is located throughout Ohio and Maryland. The financing consists of a $12 million revolver loan and a $61 million bridge-to-HUD loan. The capital stack was further enhanced by a mezzanine loan in the amount of $8.5 million. The funds were used to refinance existing debt, exercise purchase options and consolidate balance sheets in preparation for bringing the portfolio to HUD. The five-year, floating-rate loan is non-recourse and has a LIBOR-based interest rate with one year of interest-only payments. Ephraim Kutner and Jonathan Kutner, both principals with Harborview, originated the loan. Gershon Yarmush, senior loan analyst, negotiated the terms.

May 13, 2016

Illinois Industrial Midwest

Batory Foods to Buy 678,000 SF Build-to-Suit Industrial Building in Illinois

by Christina Cannon May 13, 2016

WILMINGTON, ILL. — Batory Foods will purchase a 678,000-square-foot industrial property at RidgePort Logistics Center in Wilmington, approximately 60 miles southwest of Chicago, for an undisclosed price. The building is a build-to-suit for Batory Foods and will be situated on 36 acres with the ability to expand an additional 22 acres. Construction on the distribution facility will begin this month, and Batory Foods is expected to begin occupying the space this October. The facility will feature an automatic gate system, an employee walking track and other outdoor amenities. Harris Architects Inc. is providing the architectural services, and Alston Construction is the general contractor. Ridge Development is the project developer. Newmark Grubb Knight Frank (NGKF) represented Batory Foods in the transaction.

May 13, 2016

Illinois Midwest Office

U.S. Cellular Signs 119,369 SF Lease for Additional Space at Chicago Office Complex

by Christina Cannon May 13, 2016

CHICAGO — U.S. Cellular Corp. has extended and expanded its headquarters lease at the U.S. Cellular Plaza and now occupies 331,797 square feet of space. U.S. Cellular Corp. is the building’s largest tenant. FCA Partners LLC owns the building, which is located at 8410-8420 Bryn Mawr Ave. Constructed in 1981, U.S. Cellular Plaza is a three-building, 637,484-square-foot Class A office complex. U.S. Cellular signed its original lease in 1988 for just under 10,000 square feet. U.S. Cellular continues to occupy the entire 212,428-square-foot 8410 building and will now be expanding into an additional 119,369 square feet in the 8420 building on a long-term basis. Francis Prock and Jason Simon of Colliers International represented the landlord in the transaction.

May 13, 2016

Newer Posts

Older Posts