TROY, MICH. — Friedman Integrated Real Estate Solutions has arranged a 6,994-square-foot office lease in Troy, a northern suburb of Detroit. Guardian Mortgage Co., a mortgage lending company focused on residential home loans, will occupy the space located at 900 Wilshire Drive. West Huron Joint Venture owns the property, Wilshire Plaza North. Steve Eisenshtadt and Keith Grebinski of Friedman represented the landlord in this transaction.
MAYFIELD HEIGHTS, OHIO — Senior Living Investment Brokerage Inc. (SLIB) has arranged the sale of Gates Mills Club, an independent living community in the Cleveland suburb of Mayfield Heights, for $12 million. Gates Mills contains 120 units and is located on a 1.7-acre plot. At the time of sale, the community was 88 percent occupied. The sales price, which equates to $100,000 per unit, represents a 6.7 percent capitalization rate. The community was built in 1979 as an assisted living facility. The seller, a private owner based in California, bought and remodeled the property for independent living in 2008. The buyer, also a private owner, is based in Kentucky. Ryan Saul, a managing director for SLIB, arranged the sale.
CHICAGO — MB Real Estate has brokered the $10.6 million sale of an industrial loft building in Chicago’s Lincoln Park neighborhood. The 90,000-square-foot building, located at 2065 N. Southport Ave., sits across the street from a 22-acre campus that was previously occupied by Finkl & Sons Co., the world’s leading supplier of steel processing. The campus is now one of the largest infill sites in the country. The four-story building features 22,500-square-foot floor plates and 12- to 15-foot ceilings. David Kimball of MB Real Estate represented the seller, Maclee Chemical Co., in the transaction. The buyer in the transaction was undisclosed. Maclee Chemical Co. was also the previous tenant but vacated the building upon the sale of the property. The facility, built in 1915, will be converted into creative office space.
WARRENVILLE, ILL. — Adelphia Properties has arranged the $4.5 million sale of a net-leased retail property in Warrenville, a western suburb of Chicago. The Gardner School is occupying the 16,069-square-foot building located at 28W611 Ferry Road. The facility was built in 2013, and The Gardner School has a long-term lease in place. George Spirrison and Simeon Spirrison of Adelphia Properties represented both parties in the transaction. The buyer was a 1031 exchange investor.
LAKE ZURICH, ILL. — Transwestern has negotiated a 55,488-square-foot lease for a manufacturing facility in Lake Zurich, approximately 40 miles northwest of Chicago. Alpha Tekniko, a developer and manufacturer of specialized healthcare patient support surfaces, will occupy the building located at 1290 Ensell Road. Alpha Tekniko has already moved a portion of the staff from its current headquarters located at 1000 Commerce Drive to the new location and expects to fully occupy the facility by the end of March. The property features 8,000 square feet of office space, 24-foot clear heights, four interior docks, three drive-in doors and parking for 64 vehicles. Thomas Boyle and Jared Paff of Transwestern represented the tenant in the transaction.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the lease of a 2,675-square-foot office building in Grand Rapids. Simple Truth Chiropractic is relocating to the building at 2757 Leonard St. NW from its current location at 831 Fuller Ave. The space is currently undergoing renovations, which are expected to be complete by the end of the first quarter. Mary Anne Wisinski-Rosely, Jason Makowski and Cameron Timmer of NAI represented the landlord, Leonard Street Properties LLC, in the transaction. Olga Halstead of Results by Olga represented Simple Truth Chiropractic.
ROCHESTER, MINN. — Mid-America Real Estate Corp. has brokered the sale of a 140,578-square-foot retail property in Rochester, approximately 80 miles southeast of Minneapolis. Texas-based Epic Real Estate Partners purchased the asset, located at the intersection of South Broadway and U.S. Highway 52, from Illinois-based Inland Private Capital for an undisclosed price. Broadway Commons features tenants such as Bed Bath & Beyond, Dress Barn, DSW Shoe Warehouse, Famous Footwear and Michaels. Carly Gallagher and Michael Sims of Mid-America Real Estate represented the seller in the transaction.
KANSAS CITY, MO. — An affiliate of GFI Capital Resources Group has acquired a luxury 137-unit apartment complex in Kansas City for an undisclosed price. RMwest, which is located less than two blocks from the Kansas City Streetcar line, consists of one- and two-bedroom units. Each residence features granite countertops, stainless steel appliances, vinyl plank flooring, a washer and dryer and a patio or deck. Monthly rents at RMwest, range from $1,300 to $1,900. Community amenities include a covered parking garage, saltwater pool and sundeck, indoor lounge, game room and workspace areas. The entire building, which is located at 228 W. 4th St., is also wired for Google Fiber. CBRE represented the buyer in the transaction. The seller is undisclosed.
NAPERVILLE, ILL. — Avison Young has negotiated the sale of a two-building medical office portfolio in Naperville, a western suburb of Chicago, for an undisclosed price. Quadrangle Development Co. sold the two assets that total 70,000 square feet to a California-based healthcare REIT, American Healthcare Investors. The Class A buildings are 90 percent occupied. A three-story, 50,000-square-foot building, located at 1020 E. Ogden Ave., is anchored by DuPage Medical Group. The second building, which is located at 1012 W. 95th St., is 20,000 square feet and is anchored by Adventist Health System.
AUBURN HILLS, MICH. — SVN/ Stewart Commercial Group LLC has brokered the sale of a 15,600-square-foot shopping center for $6.9 million, or $445 per square foot. The property, located at 4901-4931 Baldwin Road in Auburn Hills, was 100 percent leased at the time of sale. Tenants in the shopping center, which is 33 miles northwest of Detroit, include Sherwin Williams, Chipotle, Aspen Dental, Potbelly Sandwich Shop and Visionworks. The property was built in 2015. Vladimir Hritcu and Dan Stewart of SVN/Stewart Commercial represented the undisclosed buyer in the transaction. The seller in the transaction was also undisclosed.