INDEPENDENCE, MO. — The Boulder Group has arranged the sale of a single-tenant Walgreens property located at 2261 S. Sterling Ave. in Independence. A high-net-worth investor based in Miami acquired the 18,000-square-foot property for $4.6 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based institution, and the buyer in the transaction.
NORTHERN OHIO — Cooper Commercial Investment Group has brokered the sale of a two-tenant office building in Northern Ohio. A Midwest-based private investment group acquired the property for $4.5 million, or 94 percent of the list price, from a Midwest-based private ownership group. The property is occupied by two well-known national/regional tenants. Dan Cooper of Cooper Commercial represented both parties in the transaction.
KENT, OHIO — EP Madison Properties LLC has acquired Parkview Kent Apartments in Kent for $625,000. Located at 809 and 841 Silver Meadows, the property features 24 multifamily units. Gary Cooper and Ben Baker of Colliers represented the buyer in the transaction. The name of the seller was not released.
MENOMONEE FALLS, WIS. — The Dickman Company/CORFAC has brokered the sale of an industrial property located at N92 W15800 Megal Drive in Menomonee Falls. The 48,000-square-foot property sold for an undisclosed sum. Nick Keys of The Dickman Company represented the undisclosed buyer, while Barry Chavin and Adam Matson of NAI MLG represented the undisclosed seller in the transaction.
HASLETT, MICH. — Pillar, a Guggenheim Partners affiliate, has originated an $8.7 million 223(f) HUD Loan for Benson Hills Apartments and Townhomes in Haslett, a suburb of East Lansing, Mich. The borrower is MF Capital LLC. The property features 226 one- and two-bedroom apartment units. David Wilkins of Pillar originated the fixed-rate, 35-year loan, which features a 35-year amortization schedule. Kevin Kovachevich of Bernard Financial brokered the financing.
DETROIT — Bernard Financial Group has arranged a $6.8 million HUD loan for the Moon Building on Woodward Avenue in downtown Detroit. The property features 42 apartment units and 5,000 square feet of retail space. The borrower is Moon Building at Merchants Row. Proceeds from the loan will be used to restore the building, as well as construction projects. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan.
STURGIS, MICH. — Park Place Real Estate and Cherney Associates have brokered the sale of a retail property located on Centreville Road in Sturgis, near the Michigan-Indiana state line. The 12,000-square-foot property is currently leased to three tenants: two national credit retailers and one locally owned restaurant. Nancy Fish of Park Place and Charles Cherney of Cherney Associates represented the undisclosed seller, while Maxwell Commercial represented the undisclosed buyer in the transaction. The sales price was not released.
LISLE, ILL. — Adelphia Properties has brokered the sale of a single-story office building located at 4933 Lincoln Ave. in Lisle, a southwest suburb of Chicago. A private investor acquired the 8,163-square-foot property for $1 million. George Spirrison of Adelphia Properties represented the seller, Conner & Gallagher Insurance Services Inc.
RICHFIELD, MINN. — Coldwell Banker Commercial Griffin Cos. has brokered the sale of a retail center located at 1208 E. 66th St. in Richfield, a suburb of Minneapolis. The 12,694-square-foot property sold for $850,000. The center is currently occupied by a nationally recognized veterinary clinic and offers the buyer lease-up opportunities. Dale Severson and Bob Bayer of The Coldwell Banker Commercial Griffin Special Assets & Retail team arranged the transaction. The names of the seller and buyer were not released.
FORT WAYNE, IND. — General Motors will invest $1.2 billion in its full-size pickup truck plant in Fort Wayne. The investment will include upgrades and technology that will improve the plant’s competitiveness in assembling high-quality light- and heavy-duty models. Construction of the new pre-treat, electro-coat operation and sealing facility, expanded body shop, expanded and new material sequencing centers, and upgraded general assembly area is expected to begin in June and take several years to complete. The production schedules for full-size trucks will not be affected by the upgrades and renovations. The investments are part of the $5.4 billion that GM is planning to invest in U.S. facilities over the next three years.
