DAYTON, OHIO — Marcus & Millichap has arranged the sale of a 36,756-square-foot retail center for $7.5 million. Sugarcreek Crossing I is comprised of three separate buildings and located at 5800 Wilmington Pike in Dayton. Tenants of the inline strip center include Mattress Firm, The UPS Store, Eagle Loan and Godfather’s Pizza. Tenants in the freestanding buildings include Cracker Barrel and Tire Discounters. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, an Ohio-based developer. They also secured and represented the buyer, a Washington-based private fund.
CHICAGO — The Telos Group has arranged two new leases for 111 South Wacker, a Class A office building in Chicago’s West Loop. Union Investment Real Estate GmbH owns the 51-story office tower, which spans 1.1 million square feet. The Telos Group is the exclusive leasing agent for 111 South Wacker. AXIS Reinsurance, a global insurer, signed an 11-year lease for the entire 35th floor, which is 28,609 rentable square feet. Tom Volini of Colliers International represented AXIS Reinsurance in the transaction. Houlihan Lokey, a global investment banking firm, signed a 15-year lease for floors 37 and 38, which totals 57,298 square feet. Chris Wood, Steve Schneider and Andy Heymann of Cushman & Wakefield represented Houlihan Lokey, and Bill Truszkowski, Jamey Dix and Brian Whiting of Telos Group represented the building’s ownership. The office tower opened in 2005 and was designed by Lohan Caprile Goettsch Architects. Union Investment Real Estate GmbH is investing in building improvements that include an auditorium expansion accommodating 400 people, a fitness center expansion and upgraded elevators.
ROMEOVILLE, Ill. — Lee & Associates has brokered the sale of a 45,000-square-foot industrial building in Romeoville, a southwestern suburb of Chicago. Molto Properties acquired the asset from First American Properties for an undisclosed price. The property, located at 49 N. Paragon Drive, is part of the Paragon Business Park. The building was recently constructed and features 28-foot clear heights, four exterior docks with levelers and two drive-in doors. Terry Grapenthin and Jeff Galante of Lee & Associates represented Molto in the transaction.
ANN ARBOR, MICH. , COLUMBIA, MO., AND AMES, IOWA — The Opus Group has completed the development of three luxury, off-campus student housing projects. The projects are ArborBLU near the University of Michigan in Ann Arbor; District Flats near the University of Missouri in Columbia; and The Foundry near Iowa State University in Ames. Opus Development Co. was the developer, Opus Design Build was the design builder, and Opus AE Group was the architect and structural engineer of record for all three projects. Minneapolis-based Elness Swenson Graham Architects Inc. was the design architect for The Foundry and District Flats, and J. Bradley Moore & Associates was the design architect for ArborBLU. All three of the luxury apartments feature a variety of amenities including fitness centers, study lounges, clubrooms, garage parking, tanning and other shared community spaces. Residents of the new buildings will also have access to in-unit washers and dryers, granite countertops, stainless steel appliances and flat-screen televisions in the fully furnished apartments. ArborBLU was built on top of an existing Pizza House restaurant, which stayed open throughout construction. The 13-story student housing complex features 242 beds. In addition to the amenities described, the building also has a rooftop terrace …
OMAHA, NEB. — Q10 | Daisley Ruff Financial has arranged $7 million in permanent financing for Aksarben Village 2, a Class A office property in Omaha. The loan features a 10-year, fixed-rate term with a 25-year amortization schedule. The non-recourse loan also features no holdbacks for tenant improvements or reserves. Steve Ruff and Eric Petersen of Q10 | Daisley Ruff Financial arranged the financing.
TROY, MICH. — Colliers International has arranged the sale of a 50,000-square-foot flex building in Troy, a northern suburb of Detroit. The property is located on West Maple Road. Wild Bills Tobacco purchased the building from Atlas Building LLC for an undisclosed amount and plans to renovate the entire building and relocate its corporate offices to the facility. Raffi Derbabian of Colliers represented Wild Bills Tobacco.
CLEVELAND, OHIO — Friedman Integrated Real Estate Solutions has brokered the sale of a 41,780-square-foot retail property in Cleveland. Brooklyn Centre is located at 3712-3762 W. 125th St. and is situated on 2.9 acres. The retail center was built in 1993 and is comprised of three buildings. The largest building is 29,780 square feet and is configured for a single tenant. The other two buildings are 6,000 square feet each. One facility is for a single tenant, and the other is a multi-tenant building. Tenants in Brooklyn Centre include Rent-A-Center and CVS Pharmacy. Rich Deptula of Friedman represented both undisclosed parties in the transaction.
INDIANAPOLIS — Trinitas has broken ground on The Collegiate, a 193-unit, 669-bed student housing project that will reside on 2.8 acres of land in downtown Indianapolis and serve students of Indiana University–Purdue University Indianapolis. The project will feature a mix of one-, two-, three- and four-bedroom apartments. Each fully furnished unit will include bedrooms with private bathroom suites, walk-in closets, a washer and dryer unit and high-speed Internet with wireless capabilities. The complex, designed by Ratio Architects, includes two buildings ranging from five to 11 stories and is anticipated to open in August 2017. It will include 3,100 square feet of retail space and 370,000 square feet of amenities, including a five-level parking garage, outdoor courtyard with a basketball court, and resort-style pool and sundeck with water volleyball and grilling stations. Student residents will have access to a 5,196 square foot, all-inclusive clubhouse featuring a fitness center, free tanning, a computer café, private study lounges, gaming stations and large-screen TVs.
EAU CLAIRE, WIS. — Dougherty Funding LLC has closed a $15.3 million construction loan for Hotel Lismore, a DoubleTree Hotel by Hilton. Dougherty provided the financing to ECHL LLC. The construction involves redeveloping an existing hotel property located in downtown Eau Claire. The new full-service hotel will feature 112 rooms and a 14,406-square-foot convention center. The property will also include a fine dining restaurant, coffee shop, bar/lounge, fitness center and a business center. The convention center renovation is complete and the space is available for use. The entire project is slated for completion by April 2016. Dougherty Funding was the lead lender in the transaction and will also service the loan.
CINCINNATI, OHIO — NorthMarq Capital has arranged $7.2 million in acquisition financing for Kemper Point in Cincinnati. Kemper Point is a 96,418-square-foot office building located at 7870 Kemper Road. An affiliate of Smith/Hallemann Partners was the borrower. The transaction was structured with a 10-year term and 25-year amortization schedule. Susan Branscome of NorthMarq arranged the financing. Tenants in the office building include Comey & Shepherd Relators, Hazen and Sawer P.C. and Kiwiplan Inc.