Midwest

Darwin Realty Negotiates Sale of 53,289 SF Office/Industrial Building in Buffalo Grove, Illinois

by Amy Works September 28, 2016

BUFFALO GROVE, ILL. — Darwin Realty has brokered the sale of a 53,289-square-foot office/industrial property located at 1500 Busch Parkway in Buffalo Grove. JJS Properties sold the property to Knipex Tools for an undisclosed price. The buyer, the North American sales and marketing organization for the German hand-tool manufacturer, plans to relocate its operations from Arlington Heights, Ill., to the facility. Dan Predergast and Adam Haefner of Darwin Realty represented the seller, while Brian Hellgeth of Brian Properties represented the buyer in the transaction.

September 28, 2016

Civic Illinois Midwest Retail

Summit Design + Build Starts Construction of 316,650 SF Athletic/Academic Facility in Chicago

by Amy Works September 28, 2016

CHICAGO — Summit Design + Build, serving as general contractor, has broken ground on XS Tennis and Education Foundation’s XS Tennis Village, a state-of-the-art athletic and academic facility in Chicago’s Washington Park neighborhood. Situated on 14 acres at 510 S. State St., the 316,650-square-foot project will feature 110,000 square feet of indoor space, including 12 full-size tennis courts, four mini tennis courts, locker rooms, offices, players’ lounge and an 8,100-square-foot fitness center with a basketball court and sprinting lane. The complex’s 206,650 square feet of outdoor space will feature 15 full-size tennis courts (four clay and 11 hard surface), three stadium courts, two basketball courts and a 150-meter running track. Williams Architects is providing architectural services for the project.

September 28, 2016

Illinois Midwest Retail

Realty Metrix Commercial Brokers Sale of 4,167 SF Car Wash in West Dundee, Illinois

by Amy Works September 28, 2016

WEST DUNDEE, ILL. — Realty Metrix Commercial has arranged the sale of 1 Great Care Wash, located at 555 Willow Lane in West Dundee. LMK LLC sold the asset to Abraham Property Management LLC for an undisclosed price. The 4,167-square-foot, six-bay touchless car wash features two automatic and four service bays. The buyer plans to self manage the family-owned business. Dave Schmidt and Linda Kost of Realty Metrix Commercial represented the seller and buyer in the deal. Wells Fargo Bank provided financing for the acquisition.

September 28, 2016

Midwest Office Wisconsin

Colliers International | Wisconsin Facilitates Two Property Sales, One Lease in Wisconsin

by Amy Works September 28, 2016

WATERTOWN, BROOKFIELD AND DELAVAN, WIS. — Colliers International | Wisconsin has arranged two property sales and one lease in Wisconsin. In the first deal, FAB Leasing Co. acquired a building, located at 1701 Utah St. in Watertown, from an undisclosed seller for $320,000. Steve Sewart and Westin Kane of Colliers arranged the deal. In the second transaction, WLCFS leased 2,665 square feet of office space at 16535 W. Bluemound Road in Brookfield. Sal Strehlow, Matt Fahey, Ben Anderson and Lyle Landowski of Colliers brokered the transaction. In the third deal, Griego Sound Inventions purchased a building located at 1436 Mound Road in Delavan for $350,000. Jim Larkin and Joe Eldredge of Colliers arranged the transaction. The name of the seller was not released.

September 28, 2016

Michigan Midwest Office

JLL Opens New Office in Downtown Grand Rapids

by Amy Works September 28, 2016

GRAND RAPIDS, MICH. — JLL has opened a new brokerage office located at 15 Ionia Ave. in downtown Grand Rapids to broaden its existing presence in Michigan. Jeffrey Karger and Robert Horn will lead the new office. Karger most recently served as senior advisor/director of office services for CWD Real Estate Investments, and Horn has completed more than 11 million square feet of industrial transactions during his career. JLL employs more than 800 professionals in Michigan, with dedicated teams in Detroit and Ann Arbor, Mich., specializing in project management, corporate solutions and public institutions.

September 28, 2016

Market Reports Midwest Midwest Market Reports Minnesota Retail

Grocers, Redevelopment Projects Highlight Twin Cities Retail

by Jeff Shaw September 28, 2016

It’s hard to argue with the fact that the Minneapolis and St. Paul metropolitan areas are among the most economically dynamic and socially vibrant cities in the United States. With a thriving business environment, strong growth and impressive demographics, Minnesota consistently ranks in the top five of the most educated states in America, according to the United States Census Bureau. The Twin Cities also boast an expanding workforce, outstanding public transportation network and a booming economy. With 17 Minnesota-based Fortune 500 companies, it’s not surprising that the Twin Cities are competitive on a national and even global scale. The competitive energy and high-level activity in the city’s retail marketplace is being fueled in part by a surge of new retailers. The aggressive entry of new tenants to the market, along with the challenge of a 4 percent vacancy rate, is prompting quality spaces to be absorbed almost immediately. As stated in the Welsh Q2 2015 market report, over 1.1 million square feet of retail space were absorbed during 2015, the highest number in the market in over a decade. The vacancy rate for regional mall trade areas is actually closer to 2.6 percent, with numbers for the Minnetonka/Ridgedale Mall trade …

September 28, 2016

Healthcare Illinois Midwest Office

Ryan Cos. Clearing Site for 11-Acre Office Complex in Metro Chicago

by Haisten Willis September 27, 2016

OAK BROOK, ILL. — Ryan Cos. has begun demolition work on an 11-acre parcel in the eastern portion of Oak Brook to make way for a multi-building office/medical campus. Construction will begin in 2017. In February 2016, Ryan acquired the parcel adjacent to I-88/I-294 with frontage along the western side of York Road. Site demolition will be completed in two phases. In the first phase, the existing 203,000-square-foot industrial building will be demolished. Ryan will resume demolition of the foundations and parking lots in spring 2017 as part of new building construction. The company is also providing development, design-build and real estate management services. NAI Hiffman is the broker and marketing representative for the project, and Wright Heerema Architects is providing architectural services.

September 27, 2016

Illinois Loans Midwest Office

R2 Cos., York Capital Management Provide $23.8M for 770 N. Halsted St. in Chicago

by Haisten Willis September 27, 2016

CHICAGO — R2 Cos. and York Capital Management have competed the $23.8 million recapitalization 770 N. Halsted St. in Chicago. The property consists of two eight-story office buildings in the River West neighborhood totaling 149,000 square feet. Major tenants include Radius, Inxpo and Northeastern Illinois University. R2 has completed a lease with Aire Ancient Baths, a spa with locations in Paris and New York, to open in 2017. The property is located on the border of the River West neighborhood and Goose Island, where R2 owns and operates 500,000 square feet of buildings and 12 acres of land.

September 27, 2016

Midwest Multifamily Wisconsin

Altus Commercial Arranges $8.4M Sale of Lake Edge Apartments in Madison

by Haisten Willis September 27, 2016

MADISON, WIS. — Altus Commercial Real Estate Inc. has arranged the sale of Lake Edge Apartments, located at 4033 Monona Dr. in Madison. Altus represented the seller, Lou Reed, in the transaction. A private investor bought the property for $8.4 million. The newly constructed apartment building includes 42 units, 64 underground parking sites and a private pier on Lake Monona. Lake Edge Apartments features one-, two- and three-bedroom apartments.

September 27, 2016

Michigan Midwest Retail

Mid-America Secures Three Leases in Michigan

by Haisten Willis September 27, 2016

WEST BLOOMFIELD, HOLLAND AND TROY, MICH. — Mid-America Real Estate – Michigan Inc. has secured three new retail leases in Michigan. The leases include: T-Mobile signed a lease for 2,774 square feet at Westgate Shopping Center located at the northwest corner of Orchard Lake Road and Northwestern Highway in West Bloomfield. Mid-America’s Adam Goodman represented the tenant. Potbelly Sandwich Shop signed a lease for 2,656 square feet at The Shops at Westshore located at 12359 James St. in Holland. The tenant will join JCPenney, Younkers and Dunham Sports. Mid-America’s Brad Rosenberg and Adam Goodman represented the tenant. J-Bees signed a lease for 2,400 square feet at Oakland Mall in Troy. The retailer will join Macy’s, JCPenney and Sears at the 499,212-square-foot mall located at 412 W. Fourteen Mile Road. Mid-America’s Brad Rosenberg and Aleyciuss Al-Ali represented the tenant in the transaction.

September 27, 2016

Newer Posts

Older Posts