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MidwestMultifamilyWisconsin

Brookfield Corners Tops Off Two Apartment Buildings in Brookfield, Wisconsin

by Amy Works

BROOKFIELD, WIS. — Brookfield Corners LLC has topped off Dempsey Place and Garrison Court, two apartment buildings that are part of The Corners, a $220 million mixed-use lifestyle redevelopment project on West Bluemound Road in Brookfield. With a combined total of 244 apartment homes, the buildings are situated above 400,000 square feet of shopping and dining space. The properties offer a mix of studio, one-bedroom, two-bedroom and two-bedroom/den layouts, as well as fitness rooms, social rooms, a movie screening room and outdoor terrace with fire pit. Initial occupancy of the apartments is slated for mid-2017, and the retail portion of The Corners is scheduled to open in spring 2017. Mandel Property Services is the residential leasing and management company for The Corners.

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IllinoisMidwestMultifamilyStudent Housing

Foresite Realty Partners Brokers Sale of Student Housing Community in Carbondale, Illinois

by Amy Works

CARBONDALE, ILL. — Foresite Realty Partners has arranged the sale of St. Germain Square, a student housing rental community in Carbondale. The four-building property features 122 units in a mix of studio, one-bedroom and two-bedroom layouts. Donald Shapiro of Foresite Realty Advisors and Kristen Keehnast of Foresite Realty Partners represented the undisclosed seller in the transaction. The name of the buyer and the acquisition price were not released.

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IllinoisMidwestMultifamily

@properties Commercial Facilitates $3.1M Sale of Multifamily Building in Chicago’s Rogers Park

by Amy Works

CHICAGO — @properties Commercial has brokered the sale of a multifamily property located at 6900 N. Sheridan Road in the Rogers Park neighborhood of Chicago. A private limited liability company acquired the property for $3.1 million, or $525,000 per unit. Restored and renovated in 2013, the six-unit property was 100 percent occupied at the time of sale. The building features a mix of two-, three- and four-bedroom apartments. Kevin Rocio of @properties represented the seller, a private limited liability company, in the transaction.

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IllinoisMidwestRestaurantRetail

Nando’s Peri-Peri to Open Three Locations in Chicagoland

by Amy Works

SKOKIE, OAK BROOK AND HYDE PARK, ILL. — Nando’s Peri-Peri is opening three locations this fall in Chicagoland. The restaurants in Skokie, Oak Brook and Hyde Park will be the company’s ninth, tenth and eleventh locations in the Chicago area. The South African-Portuguese restaurant operates locations in 23 nations from Australia to Zimbabwe.

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IllinoisMidwestOffice

Equus Capital Partners Completes $67.3M Sale of Tallgrass Corporate Center in Bolingbrook, Illinois

by Amy Works

BOLINGBROOK, ILL. — Equus Capital Partners has completed the disposition of Tallgrass Corporate Center, an office center located at 1000 Remington in Bolingbrook. Middletown Partners acquired the property for $67.3 million. At the time of sale, the 533,365-square-foot Class A office center was 100 percent leased to a variety of tenants, including ULTA Beauty, Presence Health, Quad Graphics and AMITA Health. The office center features a full-service cafeteria, fitness center with locker rooms and showers, and state-of-the-art auditorium and conferencing capabilities. James Postweiler and Peter Harwood of JLL represented the seller in the transaction.

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MidwestOhioRetail

Marcus & Millichap Brokers $7.8M Sale of 57,692 SF Retail Property in Cincinnati

by Amy Works

CINCINNATI — Marcus & Millichap has arranged the sale of a retail property located at 6401 Colerian Ave. in Cincinnati. A local REIT sold the property to an out-of-state REIT for $7.8 million. The 57,692-square-foot property is triple net leased to Kroger through 2020. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap represented the seller and buyer in the deal.

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MidwestRetailWisconsin

Friedman Facilitates Sale of 47,000 SF Shopping Center in Oshkosh, Wisconsin

by Amy Works

OSHKOSH, WIS. — Friedman Integrated Real Estate Solutions has arranged the sale of Oshkosh Center, a shopping center located at 1935-1989 S. Koeller St. in Oshkosh. Alpha Opportunity Fund I sold the property to 1935 South Koeller Street at auction through Ten-X.com for an undisclosed price. The 47,000-square-foot property is occupied by Petco and Dalton Carpet Outlet. Rich Deptula and Victor Lewis of Friedman represented the seller and buyer in the transaction.

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IllinoisLoansMidwestMultifamily

American Street Capital Arranges $3.8M in Financing for Multifamily Property in Hazel Crest, Illinois

by Amy Works

HAZEL CREST, ILL. — American Street Capital has arranged $3.8 million in financing for Homewood Court, a multifamily property located in Hazel Crest, a southwest suburb of Chicago. The loan features a 20-year term and was funded through the Freddie Mac Small Balance Program. Built in 1988, the 90-unit property consists of 15 buildings and offers a mix of one- and two-bedroom units. Igor Zhizhin of American Street Capital originated the loan for the undisclosed borrower.

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IllinoisMidwestOffice

Cushman & Wakefield to Consolidate Chicago Operations at 225 West Wacker

by Amy Works

CHICAGO — Cushman & Wakefield is consolidating its corporate headquarters and Chicago operations at 225 W. Wacker Drive in Chicago’s West Loop submarket. The firm plans to occupy 83,033 square feet of office space at 225 W. Wacker Drive in the second quarter of 2017. Dan Maslauksi, Michael Sessa and Scott Shelbourne provided in-house representation for Cushman & Wakefield, while Brian Atkinson and Mark Anderson of Hines represented the landlord, Mirae Asset Global Investments.

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MichiganMidwestMultifamilySeniors HousingTop Stories

Moceri to Develop $300M Seniors Housing Community in Southeast Michigan

by John Nelson

STERLING HEIGHTS, MICH. — Moceri Cos., a homebuilder based in metro Detroit, plans to develop a $300 million, master-planned community for seniors in Sterling Heights. Situated adjacent to the 27-hole Maple Lane golf course, the 807-unit development, known as Verandas, will feature a mix of townhouses, condominiums and apartments targeting adults age 55 and above. “Verandas will exceed the expectations of the active adult lifestyle in the entire region,” said Dominic Moceri, vice president of Moceri Management Group. Verandas will include a 30,000-square-foot event center featuring dining, fitness, indoor and outdoor pools and spas, retail space and other venues accessible to the public, as well as private spaces for residents only. “We are thrilled to have the Verandas development coming to our city, as it represents Sterling Heights’ commitment to exploring innovative housing options to meet the desires of our community,” said Sterling Heights Mayor Michael Taylor. “This development allows our city to attract new residents, as well as provide a new housing opportunity for those currently living in Sterling Heights who no longer want to reside in a traditional single-family home.” Verandas will include the 160-unit Blossom Lane, featuring one- and two-bedroom independent and assisted living apartments and studio …

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