AKRON AND NORTH CANTON, OHIO — SkyView Advisors has arranged the portfolio sale of A-1 Store It All for $7.3 million. The two self-storage facilities include a total of 165,200 net rentable square feet of climate-controlled and non-climate-controlled units, and two locations in Akron and North Canton. The facilities are situated on approximately 10.7 acres of land collectively. The Akron facility was built in 1978 and holds 710 non-climate controlled storage units. The North Canton facility was built in 1980 and holds 427 non-climate controlled units. Ryan Clark and Jay J. Crotty of SkyView Advisors represented the seller, A-1 Store It All, and the buyer, Valley Storage Co.
CHICAGO — Blitzlake Partners has begun pre-leasing Lakeview 3200, a transit-oriented mixed-use development one block east of the Belmont CTA station in Chicago’s Lakeview neighborhood. Located at 3200 N. Clark St., Lakeview 3200 will offer 90 apartments comprising a mix of studio, one- and two-bedroom floor plans, 8,000 square feet of office space and an additional 29,000 square feet of retail fully leased to Target Corp. for one of the company’s smaller-scale stores. Residences at Lakeview 3200 will range in size from approximately 430 to 1,450 square feet, with prices ranging from $1,525 to $2,750 per month. First move-ins are scheduled for early 2017. Chicago-based Hirsch Associates LLC designed the building. Coldwell Banker Residential Brokerage is the exclusive marketing and leasing agent for the property.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged a 29,200-square-foot office and industrial lease in Milwaukee. Cablemaster Corp., a power cord manufacturer, will occupy the space located at 1600 W. Cornell St. Cornell Industrial Properties LLC owns the building. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Hansen of Dickman Co. were the brokers involved in the transaction.
CHANHASSEN, MINN. — Marcus & Millichap has arranged the sale of Great Plains Center, a 10,186-square-foot retail property located at 7905 Great Plains Blvd. in Chanhassen, about 20 miles southwest of Minneapolis. The asset sold for $4.8 million. The center was built in 2015 and is fully leased to a mix of national and regional tenants. Sean Doyle, Matthew Hazelton, Adam “AJ” Prins and Cory Villaume of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, a developer. They also secured and represented the buyer, a limited liability company.
ST. PETERS, MO. — GBT Realty Corp. has acquired a 28-acre piece of land to develop The Shoppes at Mid Rivers in St. Peters, a suburb of St. Louis. National tenants such as Academy Sports + Outdoors, Marshalls, Homegoods and more will occupy the 270,000-square-foot center located north of Interstate 70. An additional 30,000 square feet and four outparcels remain available. The City of St. Peters was heavily involved with the project and approved an incentive package worth up to $10 million, as well as the rezoning of the property. The existing John Deere dealership on the site will move to 3575 Veterans Memorial Parkway in St. Charles, Mo.
ALLENDALE, MICH. — NorthPoint Capital Funding Inc. has arranged a $21.3 million loan on a purpose-built student housing development in Allendale. The 192-unit, 576-bed property is expected to finish the first phase of construction in time for the 2017-2018 school year. Zimmer Development Co. and Orion II Construction Inc. are executing the development and construction. To meet the requirements of the project’s experienced developer, NPCF was able to arrange a construction line of credit converting to a commercial real estate loan with Flagstar Bank. The loan term was undisclosed. Mark Perkowski of NPCF was the loan originator. The borrower was from out of state.
DETROIT — Cushman & Wakefield has negotiated the sale of a three-property, 371-unit independent living portfolio in suburban Detroit. The purchase price was not disclosed. The properties include Pine Ridge of Garfield, Pine Ridge of Plumbrook and Pine Ridge Villas of Shelby. An affiliate of Chicago-based private equity firm Green Courte Partners LLC purchased the portfolio. Green Courte has retained the existing management firm, an affiliate of Spectrum Retirement Communities LLC, to operate the properties. The portfolio was stabilized with occupancy exceeding 95 percent at the time of sale. Allen McMurtry and David Rothschild of Cushman & Wakefield represented an institutional seller in the disposition.
HAZELWOOD, MO. — A joint venture of Tiger Capital Group and New Mill Capital Holdings has acquired the former Printpack printing plant in Hazelwood, a second-ring suburb of St. Louis. The 260,000-square-foot plant, previously used for light manufacturing and distribution, was built in 1961. The New York-based firms are currently exploring options for redeveloping the 30-acre site for new manufacturing or distribution uses, with incentives available to those bringing business to the city. The new owners plan to auction off the remaining machinery and equipment on-site early in the first quarter of 2017, but will be working with prospective tenants in the interim. Denton Shamburger of Lincoln Property Company represented Printpack. The buyer was unrepresented.
PEORIA, ILL. — The Boulder Group has arranged the sale of a single-tenant property net leased to CVS Pharmacy in Peoria for $4.2 million. Located at 6820 N. Pear Tree Lane, the 10,125-square-foot property is just off the intersection of West War Memorial Drive and North Big Hollow Road. CVS has operated at this location since 1998, and has 20 years remaining on its recently extended lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the purchaser in the transaction, a private investor in a 1031 exchange. The seller was a Midwest-based partnership.
BLOOMFIELD HILLS, MICH. — Hilton and Kingsley Hospitality LLC have unveiled plans for a $10 million renovation of the Kingsley Inn in Bloomfield Hills. The historic hotel will reopen as a DoubleTree by Hilton in the fall of 2017. The updated hotel will feature a full-service restaurant, indoor pool and 11,396 square feet of meeting space. Neumann/Smith Architecture is designing the hotel’s exterior renovation. Hotel Investment Services Inc. will operate the hotel, which is expected to open in fall 2017. The hotel will remain open during the renovation.