YPSILANTI AND HOLT, MICH. — UnitedHealthcare has invested $16.9 million in two new affordable multifamily projects in Michigan. The $17.2 million New Parkridge will offer 86 affordable apartment units, as well as on-site support services to help improve residents’ access to healthcare, education, job training and childcare. UnitedHealthcare is investing $8 million in the project, which is located in Ypsilanti, approximately 10 miles southeast of Ann Arbor. Ypsilanti Housing Commission and Chesapeake Community Advisors are the project developers. UnitedHealthcare is also investing $8.9 million in Prestwick Village, a 66-unit affordable housing project with support services in Holt, approximately 10 miles south of Lansing. Construction is currently underway on the $10.7 million project, which is slated to be complete by the end of the year. T.R. Hovey Construction LLC is the general contractor for Prestwick Village, and Gryphon Group is the developer.
WEST BEND, WIS. — The Opus Group has broken ground on a 60,000-square-foot office building in West Bend, approximately 40 miles northwest of Milwaukee. The two-story building will serve as the headquarters for Delta Defense LLC and the United States Concealed Carry Association, which provides education, training and legal protection for gun owners. The facility, situated on 36 acres, will feature a member services call center, training center and complete video and audio studio. In addition, 8,000 square feet of the first floor will serve as a fulfillment center to ship books, DVDs and other items that the company produces and sells. Kahler Slater Architects is providing design services for the project, which is slated for completion in early 2017. Opus is providing construction, development and engineering services.
DAYTON, OHIO — Namdar Realty Group has acquired Salem Plaza, a 141,616-square-foot shopping center in Dayton, for an undisclosed price. Garrison Investment Group sold the property, which is located at 45-15 Salem Ave. Burlington Coat Factory occupies 70 percent of the shopping center. Family Dollar is another tenant at Salem Plaza. Marcus & Millichap represented the seller in the transaction, and Joel J. Gorjian of Namdar Realty Group represented the buyer internally.
SALINE, MICH. — Colliers International has brokered the sale of a 107,780-square-foot industrial building in Saline, approximately 10 miles south of Ann Arbor, for an undisclosed price. PICC Properties LLC sold the facility to American Soy Products, which will use the location as its new headquarters. The warehouse was formerly occupied by Associated Spring. The buyer plans to move into the space during the first quarter of 2017 after the building undergoes renovations. Peter E. Kepic and Peter J. Kepic of Colliers International represented the seller in the transaction. The property is located at 1445 Barnes Court.
CHICAGO — MB Real Estate Services Inc. has arranged a lease expansion and renewal for the Alzheimer’s Association in Chicago. The Alzheimer’s Association has occupied 62,043 square feet at Michigan Plaza since 2003 and has inked a deal to occupy 78,517 square feet of space until 2030 — a 16,474-square-foot expansion. Michigan Plaza is a two-building, Class A office complex that totals 2 million square feet. The property consists of 205 N. Michigan Avenue, a 44-story tower, and 225 N. Michigan Avenue, a 25-story tower. Fujikawa Johnson & Associates designed the complex, which features amenities such as a 10,000-square-foot fitness center, a 4,000-square-foot conference center, an emergency child care facility, access to the East Loop ped-way and indoor access to over 25 restaurants. Kathleen Bertrand and Mark Buth of MB Real Estate represented the undisclosed landlord in the transaction, and John Goodman and Richard Schuham of Savills Studley represented the Alzheimer’s Association.
ST. LOUIS — A joint venture between AFL-CIO Building Investment Trust and Balke Brown Transwestern has broken ground on Encore at Forest Park, a $51 million, 247-unit apartment property. The five-story building will offer studio, one-, two- and three-bedroom apartments. Community amenities will include a pool, parking garage and fitness center. The apartment building will be the final phase at The Highlands at Forest Park, a mixed-use development. Encore at Forest Park will be situated on three acres at 5700 Highlands Plaza Drive.
CHICAGO — Mission Capital Advisors has arranged $19.3 million in non-recource financing for eight industrial properties in Chicago. The financing consists of a $14.4 million bridge loan for six industrial properties and a $4.9 million acquisition loan for two additional properties. Hackman Capital Partners is the borrower. The portfolio of six properties totals 906,984 square feet and is 89 percent leased. The two additional properties, which total 195,436 square feet, were acquired in a sale-leaseback deal with Cenveo Corp. Gregg Applefield, Alex Draganiuk and Lexington Henn of Mission Capital Advisors arranged the loans.
WOODRIDGE, ILL. — HSA Commercial Real Estate will develop a 152,122-square-foot speculative distribution center in Woodridge, approximately 30 miles southwest of Chicago. The Class A facility will serve as the final phase in HSA Commercial’s Park 355 development, a 500,00-square-foot project that is situated on 37 acres. The building, to be located at 2141 Internationale Parkway, is expected to come on line next March. Construction starts later this month. The building will include 30-foot clear heights, three drive-in doors and 15 truck docks.
CHICAGO — Klaff Realty LP, a privately owned real estate investment company, has acquired a 26,380-square-foot shopping center in Chicago’s South Loop neighborhood for $6.1 million. The fully leased property is located at 542-566 W. Roosevelt Road. Nicholas Kanich, Evan Halkias and Michael Marks of Cushman & Wakefield represented the buyer. The seller in the transaction was undisclosed.
ELK GROVE VILLAGE, ILL. — Darwin Realty has brokered the sale of a 70,796-square-foot industrial warehouse in Elk Grove Village, roughly 25 miles northwest of Chicago, for an undisclosed price. Hicks Properties LLC sold the building, located at 925-1065 Chase Ave., to TMI Properties LLC. Filter Services Inc. occupies one of two tenant spaces, and TMI Properties intends to move into the remaining space. The facility features 20-foot clear heights, 11 docks, three drive-in doors and 115 parking spaces. Jonathan Kohn of Colliers represented the buyer, and Richard Daly of Darwin Realty represented the seller in the transaction.