Midwest

PREMIER Design + Build LLC Completes Phase II of Chicago Innovation Exchange Project

by Christina Cannon March 14, 2016

CHICAGO — PREMIER Design + Build LLC has completed Phase II of the Chicago Innovation Exchange. The project consisted of renovating the core and shell of the Doerr Building, which houses high-tech facilities for the Chicago Innovation Exchange, an innovation hub for the University of Chicago and other startup companies. The new space features a digital fabrication lab, co-working spaces, new offices and conference rooms. Built Form LLC and Beyer Blinder Belle provided architectural services for the project. TGRWA LLC and Advance Consulting Group International Inc. provided engineering services.

March 14, 2016

Industrial Michigan Midwest

Friedman Arranges 34,500 SF Industrial Lease in Auburn Hills, Michigan

by Christina Cannon March 14, 2016

AUBURN HILLS, MICH. — Friedman Integrated Real Estate Solutions has arranged an industrial lease in Auburn Hills, approximately 30 miles north of Detroit. Axis Technology Group, a company specializing in automotive trim and packaging, will occupy 34,500 square feet of space at 20 Corporate Drive. Charrington Estates LLC is the landlord. Bob Dabrowski of Friedman represented the tenant in the transaction.

March 14, 2016

Midwest Minnesota Retail

Cushman & Wakefield/NorthMarq Arrange 1,450 SF Retail Lease in St. Paul

by Christina Cannon March 14, 2016

ST. PAUL, MINN. — Cushman & Wakefield/NorthMarq has arranged a 1,450-square-foot retail lease in St. Paul. Ehinger Schwarz 1876, an interchangeable jewelry maker, has opened its third location in the Oxford Square shopping center on Grand Avenue last week. Minneapolis-based RMF Group is the landlord. Tom Martin and Kim Meyer of Cushman & Wakefield/NorthMarq represented the tenant in the transaction.

March 14, 2016

Illinois Midwest Retail

BlueRoad Ventures Acquires National Retail Portfolio for $139M

by Christina Cannon March 11, 2016

CHICAGO — Chicago-based BlueRoad Ventures has acquired a national retail portfolio for $139 million. Brauvin Net Lease, a Chicago-based private REIT, sold the portfolio, which consists of 48 assets across 18 states. Retail brands such as CVS, Fresenius, Tractor Supply Co. and Advance Auto Parts occupy the properties. Much Shelist, a law firm, represented BlueRoad in the transaction.

March 11, 2016

Illinois Loans Midwest Multifamily

Avison Young Arranges $34M Acquisition Loan for 396-Unit Property in Grayslake, Illinois

by Christina Cannon March 11, 2016

GRAYSLAKE, ILL. — Avison Young has arranged a $34 million loan for Strategic Properties of North America to acquire a multifamily property in Grayslake, approximately 45 miles northwest of Chicago. Grays Pointe Apartment Complex is a 396-unit property that is comprised of 301 rental units and 95 condominiums. Pine River Capital Management advised the undisclosed lender. Amenities at Grays Pointe Apartment Complex include basketball courts, a business center, clubhouse, playground, swimming pool and tennis courts. Justin Piasecki and Ethan Blum of Avison Young arranged the financing.

March 11, 2016

Healthcare Midwest Ohio

TriHealth, Duke Realty Complete 53,512 SF Expansion of Bethesda Butler Hospital in Cincinnati

by Christina Cannon March 11, 2016

CINCINNATI — TriHealth and Duke Realty have expanded Bethesda Butler Hospital to include 32 new inpatient rooms, six new intensive care rooms and a full kitchen and dining room. In addition to the 53,512-sqaure-foot expansion, the project also involved remodeling 7,569 square feet of the existing hospital space and adding 883 parking spaces. The building was also fortified for a possible third-floor expansion. Bethesda Butler Hospital now totals 90,788 square feet. Duke Realty owns the hospital, which is 100 percent leased to Bethesda Hospital. The facility is part of a larger campus that includes a cancer institute, infusion services, heart institute, digestive institute, sleep center and physical therapy institute. Duke Realty provided contracting services, and PFB Architects Inc. provided architectural services.

March 11, 2016

Indiana Midwest Multifamily

CBRE Arranges Sale of 384-Unit Apartment Community in Indianapolis

by Christina Cannon March 11, 2016

INDIANAPOLIS — CBRE has brokered the sale of a 384-unit apartment community in Indianapolis for an undisclosed price. Ardizzone Holding Co. purchased Oakbrook Village as part of a 1031 exchange. Ardizzone plans to spend $1.7 million to upgrade the property, which was 93 percent occupied at the time of sale. Oakbrook Village includes amenities such as a fitness center with sauna and steam room, playground, clubhouse, tennis court, swimming pool, business center and on-site laundry facility.

March 11, 2016

Midwest Retail Wisconsin

The Dickman Company Brokers Sale of 36,106 SF Retail Building in Milwaukee Suburb

by Christina Cannon March 11, 2016

BROOKFIELD, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 36,106-square-foot building formerly occupied by Grasch Foods. TMPN Lilly LLC purchased the building located at 13950 W. North Ave. in Brookfield, a western suburb of Milwaukee, for an undisclosed price. GSG Realty LLC was the seller. Samuel D. Dickman and Samuel M. Dickman Jr. of The Dickman Company were the sole brokers in the transaction.

March 11, 2016

Loans Michigan Midwest Multifamily Seniors Housing

Capital Funding Group Arranges $7M Credit Line for 273-Bed Skilled Nursing Portfolio in Michigan

by Christina Cannon March 10, 2016

FARMINGTON AND HOWELL, MICH. — Capital Finance LLC, a subsidiary of Baltimore-based Capital Funding Group (CFG), has arranged a $7 million working capital line of credit for the operator of Farmington Health Care Center in Farmington and Howell Care Center in Howell. Both towns are northwest suburbs of Detroit. The two skilled nursing facilities, which were recently acquired, total 273 beds. The credit line provides the borrowers with additional commitment capacity while they work to obtain their new provider numbers from the Centers for Medicare and Medicaid Services, according to CFG.

March 10, 2016

Michigan Midwest Office

NAI Wisinski Brokers Sale of 9,333 SF Office Building in Grand Rapids Suburb

by Christina Cannon March 10, 2016

COMSTOCK PARK, MICH. — NAI Wisinski of West Michigan has brokered the sale of a 9,333-square-foot office building in Comstock Park, a northern suburb of Grand Rapids, for an undisclosed price. OPMA Properties LLC sold the building, located at 4211 N. Division Ave., to Sun Coast Packaging Inc., a provider of bags and packaging materials. Sun Coast Packaging acquired the facility through the acquisition of the company Shapiro Packaging. Mary Anne Wisinski and Dave Smies of NAI Wisinski of West Michigan represented the seller in the transaction, and Chip Bowling of X Ventures represented the buyer.

March 10, 2016

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