Midwest

Grandbridge Real Estate Capital Arranges $3.5M Loan for Apartment Community in Columbus

by Christina Cannon February 8, 2016

COLUMBUS, OHIO — Grandbridge Real Estate Capital has arranged a $3.5 million supplemental mortgage loan for a 250-unit multifamily property in Columbus for an undisclosed borrower. The Orleans is a Class A apartment complex that features a movie theater, car wash center, laundry facility, business center, furniture rental service and valet dry cleaning service. Grandbridge Real Estate Capital arranged the loan, which features a six-year term and 30-year amortization schedule, through Freddie Mac. Ted Schmidt of Grandbridge Real Estate Capital arranged the financing.

February 8, 2016

Illinois Industrial Midwest

Transwestern Brokers Sale of 160,961 SF Industrial Property in Schiller Park, Illinois

by Christina Cannon February 8, 2016

SCHILLER PARK, ILL. — Transwestern has brokered the sale of a four-building industrial property in Schiller Park, approximately 16 miles northwest of Chicago, for an undisclosed price. A trust in the name of Howard Bernstein, the late founder of Atlas Cos., sold the 7.3-acre site to Skyline Properties LLC. The four buildings total 160,961 square feet. The property currently serves as the Atlas corporate headquarters. The distributer and servicer of material handling, construction and floor cleaning equipment will relocate to Elk Grove Village in March as part of an expansion. Phillip Rosenberg and Ryan Phillips of Transwestern represented the seller in the transaction. Nick Saraceno of CTK Chicago Partners represented Skyline Properties.

February 8, 2016

Midwest Retail Wisconsin

Siegel-Gallagher Arranges 2,034 SF Retail Lease in Pleasant Prairie, Wisconsin

by Christina Cannon February 8, 2016

PLEASANT PRAIRIE, WIS. — Siegel-Gallagher has arranged a 2,034-square-foot retail lease in Pleasant Prairie, approximately 37 miles south of Milwaukee. Fast Signs will occupy the space at Center 50, which is located at 4623 75th St. Center 50 LLC is the landlord. Devin Tessmer of Siegel-Gallagher brokered the transaction.

February 8, 2016

Loans Midwest Multifamily Ohio

Grandbridge Arranges $24.9M Refinancing for Multifamily Property in Columbus

by Christina Cannon February 5, 2016

COLUMBUS, OHIO — Grandbridge Real Estate Capital has arranged a $24.9 million refinancing loan for a multifamily property in Columbus. The Charleston is a 287-unit, Class A apartment complex that features amenities such as a laundry facility, valet dry cleaning, swimming pool, fitness center, business center, dog park, car detailing area, sand volleyball court, shuffleboard courts and a picnic area with gas grills. The loan includes 12 months of interest-only payments, a 15-year term and a 30-year amortization schedule. Ted Schmidt of Grandbridge arranged the loan for the undisclosed borrower through Freddie Mac.

February 5, 2016

Illinois Industrial Loans Midwest

Associated Bank Closes $10.6M Acquisition Loan for Industrial Property in Elgin, Illinois

by Christina Cannon February 5, 2016

ELGIN, ILL. — Associated Bank has closed a $10.6 million acquisition and bridge loan for a 246,446-square-foot industrial property in Elgin, approximately 40 miles northwest of Chicago. Molto Properties was the borrower and acquired the newly-constructed building from Ryan Cos. The cross-dock industrial building is located at 2770 Alft Court within the Randall Crossings Business Park. Molto Properties, founded in 2008, focuses on the acquisition, development and operation of real estate. Craig Przygoda of Associated Bank managed the loan.

February 5, 2016

Industrial Midwest Ohio

CBRE Arranges Sale of 9.1 Acres for Future Industrial Development in West Chester, Ohio

by Christina Cannon February 5, 2016

WEST CHESTER, OHIO — CBRE has arranged the sale of 9.1 acres of land in West Chester, approximately 22 miles north of Cincinnati. Becknell Industrial acquired the property from IDI Gazeley and plans to build a 138,750-square-foot industrial building on the land. The plot of land is located at the corner of Union Centre Boulevard and LeSaint Drive and is part of Port Union at Union Center, a master-planned park. Construction is scheduled to start this spring. Jeremy Kraus of CBRE represented the seller in the transaction. CBRE will also market the property on behalf of Becknell.

February 5, 2016

Healthcare Illinois Midwest

Avison Young Brokers Sale of 35,364 SF Medical Office Building in Crystal Lake, Illinois

by Christina Cannon February 5, 2016

CRYSTAL LAKE, ILL. — Avison Young has brokered the sale of a 35,364-square-foot medical office building in Crystal Lake, approximately 50 miles northwest of Chicago. MB Real Estate Healthcare purchased the building occupied by Centegra Health for an undisclosed price. Located at 420 N. Route 31, the Class A building was originally completed as a build-to-suit for McHenry County Orthopedics, which was recently acquired by Centegra Health. Erik Foster and Mike Wilson of Avison Young represented the seller, a large physician group, in the transaction.

February 5, 2016

Midwest Minnesota Retail

Timber Development Breaks Ground on $3M Retail Center in Albert Lea, Minnesota

by Christina Cannon February 5, 2016

ALBERT LEA, MINN. — Timber Development has broken ground on a $3 million retail center in Albert Lea, approximately 64 miles southwest of Rochester. The 25,000-square-foot project is 90 percent pre-leased to tenants including Maurices, Shoe Sensation, AT&T and Sally Beauty Supply. The development, situated on a three-acre site, is also adjacent to a Walmart Supercenter. PNC Bank financed the development, which is scheduled for completion this fall.

February 5, 2016

Indiana Industrial Midwest

Cushman & Wakefield Arranges $43M Sale-Leaseback of Industrial Property in Greenfield, Indiana

by Christina Cannon February 4, 2016

GREENFIELD, IND. — Cushman & Wakefield has arranged a $43 million sale-leaseback of a cold storage distribution center in Greenfield, approximately 25 miles east of Indianapolis. Centurion Investments LLC acquired the 419,052-square-foot asset from Smithfield Foods Inc. and is subsequently leasing it back to a subsidiary of Smithfield Foods. The distribution center is situated on 48 acres and is located within the Axcess 70 Business Park. The facility includes 203,081 square feet of cooler space, 81,086 square feet of freezer space, 40,498 square feet of swing rooms, two floors of office space, 48-foot clear heights and the opportunity to expand by an additional 200,000 square feet. Scott Goldman, Michael Christian and Jeff Castell of Cushman & Wakefield represented Smithfield Foods in the transaction.

February 4, 2016

Loans Midwest Missouri Office

HFF Arranges $13.3M in Financing for Office Building in Downtown St. Louis

by Christina Cannon February 4, 2016

ST. LOUIS, MO. — HFF has arranged $13.3 million in financing for a Class A office building in downtown St. Louis. The capital is being used to acquire and fund future capital improvements on the 20-story, St. Louis Place. The 337,088-square-foot building is located at 200 N. Broadway. Working on behalf of Mariner Real Estate Management, HFF placed the five-year, floating-rate loan with a division of NBH Bank, Bank Midwest. St. Louis Place is 63 percent leased to 12 tenants including Fleishman-Hillard, General Services Administration, Peckham Guyton and Albers & Viets. Matthew Schoenfeldt and Brock Cannon of HFF arranged the financing for the undisclosed borrower.

February 4, 2016

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