NOVI, MICH. — Novi-based The Kroger Co. of Michigan will invest $180 million in Michigan’s grocery sector during 2016 by adding three Kroger Marketplaces stores and six new fuel centers. The grocer will also increase its ClickList online shopping service to 22 locations and remodel 11 existing stores. The new stores will be located at 12 Mile Road and Stephenson Highway in Royal Oak, M-59 and Elizabeth Lake Road in White Lake Township and at 26 Mile Road and Van Dyke Avenue in Shelby Township. The Kroger Co. of Michigan includes 129 Kroger stores, 69 fuel centers and 103 pharmacies. Kroger Marketplace stores average 110,000 square feet and are multi-department stores that offer full-service grocery, pharmacy, outdoor living products, electronics, home goods and toys.
ST. JOSEPH, MICH. — NorthPoint Capital Funding has arranged the $7 million refinancing of The Whitcomb Senior Living Community, a 134-unit community in St. Joseph, located in the southwest corner of the state along the banks of Lake Michigan. Originally constructed as a hotel in 1928, the property was converted to seniors housing in 1973. NorthPoint Capital Funding is a subsidiary of NorthPoint Capital Group, a lender based in Chicago.
CHICAGO — Interra Realty has arranged the sale of a 36-unit property in Chicago’s Edgewater neighborhood for $3.5 million. Horizon Realty purchased the building from an undisclosed out-of-state entity. The property, located at 5910 N. Sheridan Road, consists of six two-bedroom units, 18 one-bedroom units and 12 studio apartments. Two dozen of the units feature unobstructed lake views, and the building includes 18 parking spaces. The new owner plans to upgrade the building’s exterior as well as interior units. Craig Martin of Interra Realty represented both entities in the transaction.
WESTMONT, ILL. — The Missner Group will complete a large-scale renovation for McGrath Acura in Westmont, approximately 23 miles west of Chicago. Construction will include the addition of a 9,100-square-foot showroom with glass-enclosed offices, see-through fireplaces and coffered ceilings. The Missner Group will also remodel the delivery area and 4,000-square-foot service space. Services will also include updating the building exterior, parking lot and landscaping. Defilippis + Associates Inc. is the architect of record. Construction is slated for completion this summer.
OMAHA — Investors Real Estate Trust has sold the Nebraska Orthopaedic Hospital in Omaha for $24.3 million to the in-place tenant. The 61,758-square-foot facility is located at 2808 S. 143rd Plaza. The hospital provides services such as physical therapy, diagnostic imaging, surgery and rheumatology. The facility also features an infusion clinic. Investors Real Estate Trust primarily invests in income-producing medical office and apartment properties located in the upper Midwest.
INDIANAPOLIS — Brookdale Senior Living, the largest owner and operator of seniors housing in the United States, has completed a three-story building on the campus of Robin Run Village, a continuing care retirement community in Indianapolis. The $11 million project is part of a capital investment and community management joint venture between Brookdale and Health Care Properties (HCP). The new building’s top floor offers 25 new memory care apartments. The first and second floors offer 43 assisted living apartments and amenities. With completion of the project, Robin Run Village can now accommodate approximately 700 residents on its 86-acre campus.
CHICAGO — Thor Equities has acquired a 6,500-square-foot mixed-use building in Chicago. West Loop Orthopedics sold the property, located at 1229 W. Randolph St. in the Fulton Market district, for $1.9 million. The two-story building consists of 3,250 square feet of vacant ground-floor retail space and 3,250 square feet of loft office space occupied by West Loop Orthopedics. The building was constructed in 1883. Joseph Goodman of Terraco Co. represented all parties in the transaction.
BOURBONNAIS, ILL. — The Silver Group has arranged the sale of a retail building net leased to Jiffy Lube in Bourbonnais, approximately 60 miles southwest of Chicago, for an undisclosed price. McRanCo LLC sold the property to a private limited liability company completing a 1033 tax-deferred exchange. Heartland Automotive Services, the largest Jiffy Lube operator in the nation, manages the 2,000-square-foot property located at 598 William Latham Drive. The tenant has occupied the building for over 15 years and recently signed an additional 15-year, triple net lease. The Silver Group was the sole broker in the exchange.
ARLINGTON HEIGHTS, ILL. — Owen Wagener & Co. has arranged a 35,038-square-foot industrial lease in Arlington Heights, approximately 30 miles northwest of Chicago. DevLinks LTD will relocate its headquarters operation to the facility at 3933 N. Ventura Drive. Jonathan Kohn and Brendan Green of Colliers International represented the owner, Bristol Group Inc. Carrie Wagener & Eric Wagener of Owen Wagener & Co. represented the tenant. DevLinks specializes in factory automation, design and integration for numerous industries.
FARGO, N.D. — A locally based private real estate investor has acquired a two-property hospitality portfolio in Fargo for $30 million. The portfolio includes the Holiday Inn and a Holiday Inn Express that contain a total of 387 units. The hotels are situated at the intersection of Interstate 29 and 13th Avenue South, directly across from West Acres Mall, the state’s largest regional mall. The Holiday Inn has undergone more than $10 million in renovations since 2000, including a complete guest room remodel in 2006. Both hotels come with 15-year licenses that expire in 2030. Shane Skubis of Marcus & Millichap represented both the buyer and seller, a Los Angeles-based private equity group, in this transaction. Craig Patterson is Marcus & Millichap’s broker of record in North Dakota.