TAYLOR, MICH. — Colliers International has arranged a 15,000-square-foot industrial lease for A&R Logistics Inc. in Taylor, a southwest suburb of Detroit. A&R Logistics specializes in dry bulk transportation and will use the space to store and clean bulk tanker trucks. The facility is located at 25086 Brest Road. Thomas Schoenberger of Colliers International represented the tenant in the transaction. The landlord, Gordon Mobley, was self-represented.
LOCKPORT, N.Y., AND KOKOMO, IND. — Stan Johnson Co. has arranged the sale of two grocery stores located in Lockport and Kokomo for a combined $15.3 million. Bluejay Management LLC acquired the 55,000-square-foot Tops Markets at 3945 Lockport-Olcott Road in Lockport and the 55,264-square-foot Marsh Supermarket at 208 E. Southway Blvd. in Kokomo. Josh Pardue of Stan Johnson Co. represented the seller, Fields Realty, in the transaction.
ST. CHARLES, MO. — Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving real estate investors, has arranged the sale of Carrington Place of St. Charles, a 234-unit, 294-bed continuing care retirement community in St. Charles, a northwestern suburb of St. Louis. The $17 million sales price equates to approximately $72,650 per unit. The seller was not disclosed. The buyer was a private owner/operator based in Chicago. Mark Myers, Josh Jandris and Charles Hilding of IPA represented the seller and procured the buyer along with and Marcus & Millichap associate Richard Lynn. Carrington Place of St. Charles features 138 independent living units, 32 memory care units, 27 assisted living units, and 66 private and semi-private skilled nursing beds.
LANCASTER, OHIO — Marcus & Millichap has arranges the sale of a 120-unit apartment community in Lancaster for $4.9 million. Oak Valley is located at 1899 Independence Blvd. and was built between 1993 and 1998. The property offers one- and two-bedroom townhomes and ranch units. Jordan Marshall, Richard Lattro, Daniel Burkons, Michael Barron and Joshua Wintermute of Marcus & Millichap listed the property on behalf of the sellers and procured the buyer in the transaction. Both parties were undisclosed.
URBANDALE, IOWA — Lifespace Communities Inc. will break ground on a $9 million redevelopment project for Deerfield Retirement Community, a continuing care retirement community in Urbandale, a Des Moines suburb. The expansion will add new living options and health services, including new models of assisted living and memory care. Currently, Deerfield only offers skilled nursing and independent living. Milwaukee-based AG Architecture is the designer for the redevelopment project, and Minneapolis-based Weis Builders is the contractor. Construction is scheduled for completion by summer 2016.
CHICAGO — SVN | Chicago Commercial has brokered the $2.5 million sale of a 6,000-square-foot, mixed-use building in Chicago. The building is located at 615 W. Randolph St. Donnie Madia of One Off Hospitality Group purchased the building and operates the Avec Restaurant on the ground floor. The second floor is used for office space, and the third and fourth floors are residential. Scott Maesel, Chad Schroedl and Drew Dillon of SVN | Chicago Commercial represented the seller, Dorothy Jankowski, in the transaction.
KANSAS CITY, MO. — Retail Properties of America Inc. has sold The Shops at Boardwalk, a 122,397-square-foot shopping center located in Kansas City, for an undisclosed price. GDA Real Estate Services LLC purchased the asset on behalf of ACF Property Management free and clear of existing debt. The fully leased center is home to tenants including Gold’s Gym, Jos. A. Bank, Kirkland’s, Chipotle, Houlihan’s, Rue 21, Maurices and a separately owned Lowe’s and Walmart. Amy Sands, Clinton Mitchell and Barry Brown of HFF worked on behalf of the seller in the transaction.
Traverse City may be known as a small resort town on the shores of Lake Michigan, but each year it grows in popularity. And more commercial real estate players are taking notice. In the past year, Traverse City has been named one of the “Top 20 Best Small Towns in the U.S. to Visit” (Smithsonian); “One of the 50 Best Places to Live in America” (Men’s Journal); “One of the 10 Must See Cities in America” (Horizon Travel Magazine); “One of 10 U.S. Destinations on the Rise” (TripAdvisor); and “One of America’s 20 Most Romantic Towns” (Travel + Leisure). Tourism is on the rise as we become known as a region not only for cherries, but also for great restaurants, wineries, microbreweries, recreational trails for hiking and biking, skiing, festivals and a great place to live. With increasing notoriety comes pressure for development, and Traverse City is no exception. We have seen more development and projects in the pipeline in the past 12 months than we have seen since the height of the real estate boom 10 years ago. Tourists will be happy to note more hotel rooms in the downtown area as the new Hotel Indigo nears completion. The …
JANESVILLE, WIS. — Dollar General Corp. has broken ground on a new distribution center in Janesville, approximately 40 miles southeast of Madison. The facility, which will span nearly 1 million square feet, will be the retailer’s 14th distribution facility. The development is slated to come on line in December 2016. Clayco Inc. is serving as the general contractor for the project. Leo A Daly is the building design company, and Elan Design Lab is the civil design company. The new distribution center is expected to service more than 1,000 stores in the upper Midwest. Dollar General currently operates 122 stores in Wisconsin.
LINCOLN, NEB. — Easterly Government Properties Inc. has acquired a 137,671-square-foot government property in Lincoln. The building is currently leased to the General Services Administration on behalf of the U.S. Citizenship and Immigration Services (USCIS) with five years remaining on a 15-year lease. The property in Lincoln is part of the USCIS Nebraska Service Center, which is one of four national USCIS service centers across the country that provides services including the management of citizenship and naturalization processes, family member immigration, and U.S. work eligibility and authorizations. The building was constructed as a build-to-suit in 2005.