Midwest

Marcus & Millichap Arranges $3.7M Sale of Retail Property in Cleveland, Ohio

by Kristin Harlow November 11, 2016

CLEVELAND — Marcus & Millichap has arranged the sale of Cleveland Retail Center, a 17,070-square-foot property located at 429 W. Southline St., for $3.7 million. Built in 2007, the property is at the main entrance to a Super Walmart and is 100 percent occupied. Tenants include Buddy’s Furniture, Subway, Mann Eye Center, Edward Jones, Sally Beauty Supply and Advance Cash America. Kelley Workman and Jerry Goldstein of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer was a private investor who was completing a 1031 exchange transaction.

November 11, 2016

Michigan Midwest Mixed-Use

Friedman Arranges Sale of 33,560 SF Mixed-Use Building in Royal Oak, Michigan

by Kristin Harlow November 11, 2016

ROYAL OAK, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 33,560-square-foot mixed-use building located at 1017-1021 S. Washington Ave. in downtown Royal Oak. The sales price was not disclosed. The property combines condo living, office, medical and retail. The seller, Washington Street Holdings LLC, sold the building to Royal Oak Ventures SW1017 LLC. Peter Jankowski of Friedman represented the seller in the transaction.

November 11, 2016

Illinois Midwest Mixed-Use

High Street Residential Unveils Plans for Mixed-Use Building in Downers Grove, Illinois

by Kristin Harlow November 10, 2016

DOWNERS GROVE, ILL. — High Street Residential has acquired a nearly one-acre site for the construction of Maple & Main, a six-story mixed-use building in Downers Grove, a western suburb of Chicago. The project will include 115 apartment units and approximately 4,000 square feet of ground-floor retail and restaurant space. Construction is expected to begin in the first quarter of 2017. The building is being designed with eco-friendly aspects, such as minimized exposure to airborne pollutants. ESG Architects will serve as the project architect and Carlson Construction is the general contractor. David Paino of High Street Residential will oversee the development of the project. Jacob Dell of CBRE Oak Brook will handle the retail leasing.

November 10, 2016

Industrial Iowa Midwest

The Opus Group Begins Leasing First Building at Corporate Woods Industrial Park in Iowa

by Kristin Harlow November 10, 2016

ANKENY, IOWA — The Opus Group has begun leasing the first building at Corporate Woods Industrial Park in Ankeny just north of Des Moines. Columbus, Ohio-based Power Distributors will lease nearly 70 percent of the 208,000-square-foot speculative industrial warehouse for its velocity distribution center. Located adjacent to Interstate 35, the facility is situated on 52 acres of land and features 32-foot clear heights. Corporate Woods is owned by a joint venture partnership between Opus Development LLC and Founders Properties LLC. Marcus Pitts, Justin Lossner and Jones Lang LaSalle of The Opus Group marketed the property for lease. Bob Bettendorf of The Bettendorf Co. represented Power Distributors in the leasing.

November 10, 2016

Industrial Michigan Midwest

L. Mason Capitani Brokers 26,128 SF Industrial Lease for Superior Cam in Sterling Heights, Michigan

by Kristin Harlow November 10, 2016

STERLING HEIGHTS, MICH. — L. Mason Capitani CORFAC International has arranged a 26,128-square-foot industrial lease for Superior Cam, a sheet metal manufacturer, in Sterling Heights. The facility is located at 35120 Stanley Drive. Superior Cam is based in Madison Heights, Mich., and operates out of 200,000 square feet collectively. Jason Capitani of L. Mason Capitani CORFAC International represented the landlord on the multi-year lease transaction.

November 10, 2016

Illinois Loans Midwest Multifamily

Berkadia Arranges $15.3M Loan for Apartment Building in Chicago

by Kristin Harlow November 10, 2016

CHICAGO — Berkadia has brokered a $15.3 million loan for the refinancing of Sheridan Plaza Apartments, a 140-unit multifamily property located in Chicago’s Uptown neighborhood. The completely renovated apartment project was built in 1920 and is located at 4607 N. Sheridan Road. The five-year loan, which was secured through Fannie Mae, features a 3.25 percent fixed interest rate. Aaron Abelson of Berkadia secured the loan. The borrower was Horizon Group XXI LLC.

November 10, 2016

Michigan Midwest Multifamily

The Woda Group Breaks Ground on Apartment Building in Grand Rapids, Michigan

by Kristin Harlow November 10, 2016

GRAND RAPIDS, MICH. — The Woda Group has broken ground on Grand View Place, a 68-unit apartment building in Grand Rapids. The groundbreaking ceremony took place on Thursday, Nov. 3. Grand View Place will be the first major residential development in the existing commercial and industrial sector of the Grand River between the 6th Street Bridge and Leonard Avenue. The primary source of funding for the project was tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Stan Wisinski of NAI Wisinski West Michigan represented The Woda Group in the purchase of land at the former Ryder Truck terminal at 936 Front St.

November 10, 2016

Midwest Mixed-Use Top Stories Wisconsin

Cobalt Partners Breaks Ground on $160M Mixed-Use Development in Metro Milwaukee

by John Nelson November 10, 2016

GREENFIELD, WIS. — Cobalt Partners LLC, a commercial real estate development firm based in Milwaukee, has begun construction on 84South, a 48-acre, $160 million mixed-use development in Greenfield, approximately 10 miles southwest of Milwaukee. Designed by Milwaukee-based Rinka Chung Architecture, 84South will feature 375,000 square feet of retail and restaurant space, a full-service health club, office space and 360 apartment residences. The development is situated along I-894 at the interchange of 84th Street and Forest Home Avenue, less than a mile from Southridge Mall, the largest enclosed regional mall in the state. Cobalt Partners has selected Mid-America Real Estate-Wisconsin as leasing agents for 84South, and the firm has already signed a slate of retailers to open in Phase I, which is scheduled for a summer 2017 completion. “84South is going to expand the Southridge regional trade area and provide retailers an opportunity to locate stores within a submarket that has proven challenging to land within,” says Scott Satula, vice president of Mid-America. “We’re excited to be a part of the 84South development team and are pleased to bring quality shopping and dining options to Greenfield and the neighboring communities.” The retailers opening in Phase I of 84South include Fresh Thyme …

November 10, 2016

Illinois Midwest Office

KIG Brokers $86M Portfolio Sale of Office Buildings, Land Sites in Downtown Chicago

by Kristin Harlow November 9, 2016

CHICAGO — KIG has brokered an $86 million portfolio sale of six vintage office buildings and three land sites in downtown Chicago. R2 Cos. purchased the properties, located throughout the West Loop, Greektown, River North and Printers Row. Built between 1883 and 1904, the properties are collectively 90.8 percent occupied, with an average of 3.9 years remaining on existing leases. The properties included the Pontiac Building; 118 S. Clinton St.; 130 S. Jefferson St.; 901 W. Jackson Blvd.; 641 W. Lake St. and 445 W. Erie St. The land sites included are Randolph/Desplaines, 708 W. Wayman St. and Peoria/Green. Susan Tjarksen of KIG represented the seller, Chicago-based Loft Development Corp.

November 9, 2016

Illinois Midwest Mixed-Use

Baker Development Breaks Ground for ELEVATE Lincoln Park in Chicago

by Kristin Harlow November 9, 2016

CHICAGO — Baker Development Corp. has begun construction on ELEVATE Lincoln Park, a mixed-use luxury apartment building in the heart of Lincoln Park. A groundbreaking ceremony was held on Nov. 1. The former Lincoln Centre complex was demolished for the new project, which consists of 191 apartments on top of 16,300 square feet of retail space located at 2518-36 N. Lincoln Ave. Residents will be able to choose from a wide array of floor plans. The first move-ins are scheduled for late 2017. The project is the first luxury apartment building and transit-oriented development (TOD) on Lincoln Avenue. SCB is the architectural firm and McHugh Construction is the general contractor. Financial partners include USAA, Fifth Third Bank, First Midwest Bank and FirstMerit Bank/Huntington National Bank. Luxury Living Chicago Realty is the exclusive leasing brokerage.

November 9, 2016

Newer Posts

Older Posts