Midwest

Brookfield Corners Arranges Three New Leases at The Corners of Brookfield Near Milwaukee

by Christina Cannon August 23, 2016

BROOKFIELD, WIS. — Brookfield Corners LLC has arranged three new leases at The Corners of Brookfield, a 750,000-square-foot upscale lifestyle center 13 miles west of Milwaukee. Free People, Paper Source and Francesca’s will join other retailers such as L.L. Bean, Arhaus, Twigs, Café Hollander, Evereve, Anthropologie and lululemon athletica at the development, which is scheduled to come on line in the spring of 2017. Bradford Real Estate Services Corp. is the development manager for the facility. The Corners of Brookfield will feature 400,000 square feet of retail and restaurant space, anchored by a 140,000-square-foot Von Maur department store and a 30,000-square-foot Sendik’s Food Market. The project will also include 244 luxury apartment homes and parking for more than 1,700 cars.

August 23, 2016

Illinois Midwest Restaurant Retail

Krispy Kreme to Open New Location in Chicago Suburb

by Christina Cannon August 23, 2016

HOMEWOOD, ILL. — Krispy Kreme will open a new store in Homewood, approximately 25 miles south of Chicago. The donut franchise will build a ground-up facility on an outparcel to a Home Depot and Jewel-Osco. This store, to be located at 17815 S. Halsted St., will be the first of eight locations opened in the Cook county area. Currently the Chicago area has only one Krispy Kreme store, which is situated in Elk Grove Village. The new Homewood location will be the franchise’s first retail location opened in the Chicago area in seven years. Lynne Brackett and Adam Foret of CBRE represented the landlord in the transaction.

August 23, 2016

Kansas Midwest Office

Vigilias Telehealth Signs 400 SF Headquarters Lease at 125 N. Market in Wichita

by Christina Cannon August 23, 2016

WICHITA, KAN. — Vigilias Telehealth LLC has leased 400 square feet of space at 125 N. Market, a 19-story office building in Wichita. The company, a telemedicine and technology platform provider, will occupy space on the 14th floor, which will serve as its headquarters. The building has undergone roughly $4 million of improvements and upgrades since 2013. Amenities at 125 N. Market include free valet parking, a video conference center and concierge services. The facility can accommodate users with needs anywhere from 600 square feet to 26,000 square feet. Security National Life Insurance Co. owns 125 N. Market, and other tenants in the building include Cornerstone Design Development, Viaan Electronics and BalanceComp. Istvan Tamas of Weigand-Omega arranged the lease.

August 23, 2016

Midwest North Dakota Retail Western

Dollar General Enters North Dakota With Construction of Five New Stores

by Nellie Day August 22, 2016

OAKES, N.D. — Dollar General has started the construction of five new stores in southeastern North Dakota. The stores are expected to open in spring 2017 and, when completed, will expand the company’s presence to 44 states across the country. Stores are currently under construction in Oakes (Dickey County); Ellendale (Dickey County); Hankinson (Richland County); Hillsboro (Traill County); and Gwinner (Sargent County). These five stores will offer customers the traditional Dollar General store format, which is approximately 9,100 total square feet and 7,400 square feet of sales floor. Construction began on all five stores this summer. Dollar General Corporation operates 13,000 stores as of August 13.

August 22, 2016

Midwest Ohio

Ohio’s Cedar Point to Undergo Renovation of Hotels and Water Park

by Christina Cannon August 22, 2016

SANDUSKY, OHIO — Cedar Point, an amusement park in Sandusky on the shores of Lake Erie, is set to renovate its water park and hotels. Currently known as Soak City, the water park will be expanded to cover 18 acres and will be renamed Cedar Point Shores Water Park. New additions to the park include Point Plummet, a 400-foot, six-story body slide; Starboard Surge and Portside Plunge, two five-story tube slides; and Lakeslide Landing, a family splash ground with 12 kid-sized water slides and a zero-depth entry pool. The majority of the existing attractions will also be renovated and renamed. Upgrades and renovations to the water park are scheduled for completion in 2017. The water park will also feature a new main entrance, poolside bar, family changing and showering areas, additional lounge furniture, shaded areas and a new restaurant, the Crystal Rock Café. Cabanas near the existing 500,000-gallon wave pool will also be upgraded to include free Wi-Fi, charging stations, ceiling fans, TVs and a food and beverage service. In addition to the water park renovations, the Breakers Express hotel will be renamed Cedar Point’s Express Hotel and will feature the addition of 69 new rooms. All guest rooms feature …

August 22, 2016

Michigan Midwest Multifamily

Commercial Property Advisors Brokers Sale of Three Apartment Communities for $19.7M

by Christina Cannon August 22, 2016

WEST BLOOMFIELD, MICH. — Commercial Property Advisors has brokered the sale of three apartment communities across the Midwest for a total of $19.7 million. The 42-unit Calhoun Shores Apartments in Minneapolis sold for $10.9 million. Located at 3101 E. Calhoun Parkway, the property offers one- and two-bedroom units and features amenities such as a clubhouse, sundeck and on-site laundry facility. Cornerstone Apartments, located in Detroit, sold for $7.7 million and includes 476 one- and two-bedroom units. The property features amenities such as basketball courts, a clubhouse, gated access and a playground. Hampton Square Apartments is located in Allen Park, roughly 13 miles southwest of Detroit. The property has 28 units and sold for $1.1 million. The buyers and sellers in the transactions were undisclosed.

August 22, 2016

Hospitality Michigan Midwest

NAI Wisinski Arranges Sale of Two Land Parcels in Grand Rapids for Hotel Developments

by Christina Cannon August 22, 2016

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the sale of two vacant parcels of land in Grand Rapids for the future development of two hotels. West Michigan Investment Properties sold the property, located at 4888 Town Center Drive, to Grand Hospitality Management, which plans to build a Holiday Inn Express on the 5.4-acre site. Grand Hospitality Management also acquired a 2.7-acre land parcel from Mitul Patel and plans to build a Marriot hotel on the site. Construction on both hotels in slated to start next year. Dave Denton of DAR Development represented Grand Hospitality Management in both deals. Rod Alderink of NAI Wisinski represented Wes Michigan Investment Properties in the first transaction, and Bill Tyson and Todd Leinberger of NAI Wisinski represented Mitul Patel in the second deal.

August 22, 2016

Illinois Midwest Restaurant Retail

Golub & Co. Leases Space for Michael Jordan’s Restaurant at Oakbrook 22 in Metro Chicago

by Christina Cannon August 22, 2016

OAKBROOK, ILL. — Golub & Co. has leased 8,500 square feet to Cornerstone Restaurant Group, which plans to open Michael Jordan’s Restaurant by next summer. The restaurant will be located at Oakbrook 22, a 389,000-square-foot office complex located along West 22nd Street in Oakbrook, approximately 20 miles west of Chicago. Golub & Co., along with Alcion Ventures, acquired Oakbrook 22 in 2014 and redeveloped the property, which now boasts 35 companies. The complex was originally built in phases between 1968 and 1980 and is currently 95 percent occupied. Recent renovations include updated office interiors, common areas and the addition of tenant amenities.

August 22, 2016

Industrial Midwest Wisconsin

The Dickman Company Brokers Sale of 5,000 SF Industrial Property in Milwaukee

by Christina Cannon August 22, 2016

MILWAUKEE — The Dickman Company Inc./CORFAC International has brokered the sale of a 5,000-square-foot industrial building in Milwaukee for an undisclosed price. Adams Recycling LLC purchased the facility, located at 2725-2731 S. 29th St., from The Lynne M. Borts Revocable Trust. TJ Huenerbein of The Dickman Company brokered the transaction.

August 22, 2016

Illinois Loans Midwest Office

HFF Secures $78M Construction Loan for Creative Office Building in Chicago

by Christina Cannon August 19, 2016

CHICAGO — HFF has secured a $78 million construction loan for the development of a 290,699-square-foot creative office building in Chicago’s West Loop neighborhood. The nine-story Fulton West Phase II is slated for completion in 2017 and will feature a 24,000-square-foot courtyard, a 5,750-square-foot rooftop deck, a shuttle service, 18,429 square feet of ground-floor retail space and a 610-stall parking structure. Floor plates will average 34,000 to 40,000 square feet, and Glassdoor, Skender Construction and Sterling Bay will occupy nearly half the building. A joint venture between J.P. Morgan Asset Management and Sterling Bay will develop the project. Michael Kavanau, Tim Joyce and Christopher Knight of HFF worked to place the financing with Bank of America on behalf of the borrower.

August 19, 2016

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