Midwest

Marcus & Millichap Brokers $4.3M Sale of Retail Property in Cincinnati Suburb

by Christina Cannon January 27, 2016

HAMILTON, OHIO — Marcus & Millichap has brokered the sale of a 200,720-square-foot retail property for $4.3 million. Hamilton Crossings is located in Hamilton, approximately 33 miles north of Cincinnati, and was 70 percent occupied at the time of sale. Tenants at the retail property include Pease Warehouse, Youthland Academy, the U.S. Veterans Administration, Penn Station and Springleaf Financial. A private Ohio-based investor purchased the asset located at 1780 S. Erie Highway from an out-of-state investment firm. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap listed the property on behalf of the seller. The team also procured the buyer.

January 27, 2016

Illinois Midwest Office

CBRE Arranges Sale of 94,986 SF Office Building In Chicago Suburb

by Christina Cannon January 27, 2016

ITASCA, ILL. — CBRE has arranged the sale of a 94,986-square-foot office property in Itasca, approximately 30 miles northwest of Chicago, for an undisclosed price. The undisclosed seller sold the four-story building to Hamilton Partners. Located at 1200 Arlington Heights Road, the property recently underwent upgrades including a newly renovated lobby and corridors. The facility, built in 1989, is 25 percent leased to six tenants. The building sits inside Hamilton Lakes, a 350-acre master-planned business community that includes an athletic club, Westin hotel and numerous restaurants. Bill Novelli, Derek Fohl and Robert Graham of CBRE represented the seller in the transaction. The buyer was self-represented.

January 27, 2016

Industrial Midwest Wisconsin

The Dickman Co. Brokers Sale of 119,040 SF Industrial Property in Milwaukee

by Christina Cannon January 27, 2016

MILWAUKEE, WIS. — The Dickman Co./CORFAC International has arranged the sale of a 119,040-square-foot industrial building in Milwaukee, for an undisclosed price. 8301 Parkland LLC purchased the facility from TJM Parkland Court LLC. The asset is located at 8301 W. Parkland Court. Samuel M. Dickman Jr., Samuel D. Dickman and Nick Keys of The Dickman Co. were the sole brokers in the transaction.

January 27, 2016

Illinois Midwest Mixed-Use

Quantum Arranges $1.3M Sale of Mixed-Use Property in Northwestern Suburb of Chicago

by Christina Cannon January 27, 2016

GRAYSLAKE, ILL. — Quantum Real Estate Advisors Inc. has arranged the $1.3 million sale of a mixed-use building in Grayslake, approximately 48 miles northwest of Chicago. The 33,544-square-foot building consists of 24,239 square feet of retail space on the first floor and 9,305 square feet of office space on the second floor. Tenants of the building, which is 70 percent occupied, include Kawa Japanese Restaurant, Tropical Tan and State Farm Insurance. A Canada-based money center bank sold the asset, located at 100 S. Atkinson Road, to a private investor based in the northern suburbs of Chicago. Chad Firsel of Quantum Real Estate Advisors represented the seller in the transaction.

January 27, 2016

Loans Midwest Office Wisconsin

Walker & Dunlop Completes $32.3M Refinancing Loan for Office Property Near Madison

by Christina Cannon January 26, 2016

MIDDLETON, WIS. — Walker & Dunlop Inc. has completed a $32.3 million refinancing loan for an office property in Middleton, approximately six miles west of Madison. Spectrum Brands, a global consumer products company that includes brands such as George Foreman and Black + Decker, is using the capital to refinance the construction loan for its headquarters, which was built in 2013. The 222,000-square-foot building is four stories. The loan was structured with a five-year term, a 79 percent loan-to-value and a debt service coverage ratio of 1.44.

January 26, 2016

Michigan Midwest Multifamily

Farbman Group Sells 61-Unit Apartment Building in Detroit

by Christina Cannon January 26, 2016

DETROIT — Woodward Center LLC, a subsidiary of Farbman Group, has sold Lofts @ Woodward Center, a 61-unit apartment building in Detroit. A subsidiary of Bedrock Real Estate Services, 1448 Webward Avenue LLC, acquired the property for an undisclosed price. Farbman Group purchased the building located at 1448 Woodward Ave. in 1999. Lofts @ Woodward Center features 18-foot ceilings, washers and dryers in each unit, on-site parking, open loft style floor plans and is pre-wired for cable and high-speed Internet access. The residential community also includes 15,000 square feet of ground-floor retail.

January 26, 2016

Kansas Midwest Multifamily Seniors Housing

Mainstreet, Ensign Group Open 100-Bed Skilled Nursing Facility in Kansas

by Christina Cannon January 26, 2016

OLATHE, KAN. — Mainstreet, an Indiana-based skilled nursing developer, and The Ensign Group, a California-based operator, have opened The Healthcare Resort of Olathe, a 100-bed skilled nursing facility in Olathe, a suburb of Kansas City. Construction started on The Healthcare Resort of Olathe in July 2014 and was completed in October 2015. Estimated development costs for the 68,3530-square-foot community were $16.4 million.

January 26, 2016

Illinois Midwest Office

Foresite Realty Partners Brokers Sale of Six-Building Office Property in Chicago Suburb

by Christina Cannon January 26, 2016

NORTHBROOK, ILL. — Foresite Realty Partners LLC has brokered the sale of a six-building office complex in Northbrook, approximately 25 miles northwest of Chicago, for an undisclosed price. Northbrook Court Professional Plaza, located at 1535 Lake Cook Road, totals 74,040 square feet and was constructed between 1979 and 1981. A mix of medical and professional office tenants occupy the buildings. The buyer was a Midwest value-add office investment company, and the seller was undisclosed. Ryan Nelson and Greg Nieder of Forsite Realty represented the seller in the transaction.

January 26, 2016

Industrial Midwest Wisconsin

The Dickman Co. Arranges 17,425 SF Industrial Lease South of Milwaukee

by Christina Cannon January 26, 2016

OAK CREEK, WIS. — The Dickman Co./CORFAC International has arranged a 17,425-square-foot industrial lease in Oak Creek, approximately 14 miles south of Milwaukee. Schenker Inc. will lease the space located at 330 E. Mahn Court from Maggster LLC. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Co. represented the landlord in the transaction, and Karl Wiedenman of CBRE represented the tenant.

January 26, 2016

Indiana Midwest Multifamily Seniors Housing

Mainstreet, Trilogy Finish Construction of $12.9M Skilled Nursing Facility in Indiana

by Christina Cannon January 25, 2016

MOORESVILLE, IND. — Mainstreet, a skilled nursing developer based in Indiana, and Trilogy Health Services, an operator based in Kentucky, have completed construction of The Springs of Mooresville, a 70-bed skilled nursing facility in Mooresville, a suburb of Indianapolis. Construction began in March 2015. The community is now open. The 48,034-square-foot building cost $12.9 million to develop.

January 25, 2016

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