NORTH CANTON, OHIO — Embassy Suites by Hilton has opened a new 150-room hotel in North Canton, approximately 55 miles south of Cleveland. CPX Canton Airport LLC owns the Embassy Suites by Hilton Akron Canton Airport, and Commonwealth Hotel Collection is managing the property. The hotel includes a heated indoor swimming pool, fitness facility, business center, gift shop and a complimentary shuttle service within a 10-mile radius. All suites are equipped with two 42-inch LCD TVs, microwave, refrigerator, wet bar and Wi-Fi service. The hotel also features a ballroom, conference room and professional boardroom, which collectively make up over 6,000 square feet and can accommodate up to 500 guests.
CHICAGO — National Cooperative Bank (NCB) has provided a $17.9 million loan for capital improvements to Gill Park Cooperative, an affordable housing cooperative. The 260-unit limited equity housing cooperative has operated as a 100 percent Section 8 project. Planned improvements at the co-op include a new plumbing and HVAC system, a redesigned lobby and laundry facilities, as well as a number of exterior improvements. All interior units will also be renovated with new kitchens, floors and wall finishes. Larry Mathe of NCB arranged the financing, in collaboration with the co-op board of directors and managing agent.
MINNEAPOLIS — Oppidan Investment Co. has sold the White Bear Marketplace in Minneapolis for an undisclosed price. Oppidan developed the 118,627-square-foot shopping center on a site previously occupied by Kmart. Cub Foods, Planet Fitness, Northern Tool and Starbucks co-anchor the newly constructed retail center. Jim Leary and Jeff Budish of CBRE represented Oppidan Investment Co. in the transaction. The buyer was a regional private investor.
BROOKLYN PARK, MINN. — Dougherty Mortgage LLC has provided a $1.6 million Fannie Mae supplemental loan for a 96-unit multifamily property in Brooklyn Park, approximately 11 miles northwest of Minneapolis. The loan features a 4.5-year term and a 30-year amortization schedule. The Fountains in the Park LLC was the borrower. The capital will be used to fund capital improvements and a partnership recapitalization.
INDIANAPOLIS — JLL has arranged the sale of a 16,500-square-foot office building in Indianapolis. MID by Design LLC sold the building, located at 9800 Association Court, to CKH Realty for an undisclosed price. The property consists of a 13,900-square-foot open studio with 21-foot ceilings and 2,600 square feet of mezzanine space. Kevin Gillihan of JLL represented the seller in the transaction, and Tim O’Brien of O’Brien Commercial Real Estate represented the buyer.
CHICAGO — Transwestern has arranged a 47,038-square-foot lease for Coyne College in Chicago’s Loop. The college will occupy the entire fourth floor at One North State, a 680,000-square-foot office tower, starting this June. Coyne College, which provides career training in allied health and construction trades, will move to the new location from its current campus at 330 N. Green St. John Marquardt, Cece Conway, Phil Utigard and William Briggs of Transwestern represented Coyne College in the lease transaction. Michael Lirtzman, Jeff Dowdell and Katie Steele of Transwestern represented the building’s owner, FD Stonewater LLC.
AVON AND INDIANAPOLIS, IND. — BayView Advisors has negotiated the sale of a three-property, self-storage portfolio in Indiana for an undisclosed price. National Storage Affiliates Trust acquired the properties from Kentucky Avenue Self Storage Inc., Avon Self Storage Lockers Inc. and Avon Self Storage Spot Inc. The 245,664-square-foot portfolio consists of 160 climate-controlled units, 1,335 non-climate controlled units, 112 alarmed units and 111 spaces for boat and vehicle parking. SecureCare will manage the properties, which are located at 71 Vista Parkway in Avon; 9303 US Highway 36 in Avon; and 4115 Heiney Road, Indianapolis. Jay Crotty and Ryan Clark of BayView Advisors represented the sellers in the transaction.
GLEN ELLYN, ILL. — Paine Wetzel TCN Worldwide has brokered the sale of a 106,892-square-foot industrial property in Glen Ellyn, approximately 28 miles west of Chicago. M&R Printing Equipment sold the asset, located at 1N372 Main St., to LifeStorage. The asking price for the property was $3.7 million, but the final purchase price was undisclosed. LifeStorage plans to convert the manufacturing building into self-storage units. Jeff Blake of Paine Wetzel TCN Worldwide represented the seller in the transaction. Sean Henrick of Cushman & Wakefield represented the buyer.
NOVI, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a 24,898-square-foot industrial property for $1.6 million. Sigma Phi Properties Inc. acquired the asset, located at 46555 Humboldt Drive Road in Novi, approximately 30 miles northwest of Detroit, from BACM 2006-2 Novi industrial LLC. The property was 100 percent occupied by three tenants at the time of sale. Rich Deptula of Friedman Integrated Real Estate Solutions represented both parties in the transaction.
ELM GROVE, WIS. — Siegel-Gallagher has arranged a 1,400-square-foot office lease in Elm Grove, approximately 10 miles west of Milwaukee. ABR Employment Services will occupy space at The Tradesman Building. Building Trades United Pension Trust Fund owns the property located at 500 Elm Grove Road. John Dulmes and Dan Walsh of Siegel-Gallagher brokered the transaction.