AURORA, ILL. — HSA Commercial Real Estate represented Denver-based Industrial Income Trust Inc. in a long-term, 147,625-square-foot lease with Casio America Inc. at 1203 Bilter Road in Aurora, a suburb of Chicago. Casio, a manufacturer and seller of consumer electronic devices, will relocate from Glendale Heights, Ill., and will utilize the Aurora facility for its regional distribution operations. HSA Commercial developed the 294,740-square-foot Bilter Road facility in 2007 and sold the property to Industrial Income Trust Inc. as part of a $100 million portfolio sale in 2010. The facility features 30-foot clear heights and is near I-88. Andy Corken of The Modal Group represented Casio America Inc. in the lease transaction. Timothy Thompson of HSA Commercial represented Industrial Income Trust.
CHICAGO — Mid-America Real Estate Corp. has arranged a new retail lease at 4718 N. Broadway in Chicago’s Uptown neighborhood. First Ascent Climbing and Fitness will occupy 14,000 square feet on the second floor of the former Borders Bookstore building. The space will feature 10,000 square feet of bouldering walls, which range from 15 to 18 feet in height. The gym will feature yoga, weights and other fitness equipment. First Ascent is a Chicago-based community-focused climbing gym. This will be First Ascent’s second location. The other location is currently under construction in Avondale, Ill. Both facilities are expected to open this summer. Paul Bryant and Andrew Becker of Mid-America represented the landlord, Josh Mintzer of Saxony Capital, in the transaction. The tenant was self-represented.
NORTH AURORA, ILL. — The Opus Group and USAA Real Estate Co. have arranged the lease of a 604,565-square-foot warehouse building in North Aurora. Midwest Warehouse & Distribution System Inc. has signed a long-term lease agreement at the I-88 Gateway Logistics Center. Construction on the speculative industrial building was completed in October 2014. The property is located on 32 acres of land and features 32-foot clear heights, 60 docks, 103 trailer parking spaces, an ESFR sprinkler system and T5 lighting. Midwest Warehouse provides third-party logistics including warehouse and distribution services for companies across the Midwest. The company plans to move into the building during the second quarter. Opus Development Co. was the developer, Opus Design Build was the design-builder, and Opus AE Group was the architect and engineer of record for the project. USAA Real Estate Co. owns the building. Tim Thompson of HSA Commercial Real Estate represented Midwest Warehouse. Brandon Kelly and Todd Heine of Avison Young were the listing brokers.
ST. PAUL, MINN. — Dougherty Mortgage has arranged a $5.1 million Fannie Mae loan for the refinance of Riverview Highlands, a 54-unit multifamily property in St. Paul. The 12-year loan includes a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower Riverview Highlands LLC. Riverview Highlands is 55-plus seniors community that offers planned activities and events for residents. The property features underground parking, an exercise room and a community room. Floor plans include walk-in closets, washer and dryer connections, oversized kitchens, vaulted ceilings and fireplaces in some of the units.
MIDLOTHIAN, ILL. — Marcus & Millichap has brokered the $1.4 million sale of 14800 Kenton Ave., a 24-unit apartment property located in Midlothian. The property is located at 14800-16 S. Kenton Ave., and includes two-bedroom units. The asset includes off-street parking and on-site laundry facilities in each building. Scott Harris, Andrean Angelov and Ryan Engle of Marcus & Millichap’s Chicago Oak Brook office, represented the seller, a private investor and the buyer, a limited liability company.
BLOOMINGTON, ILL. — Carmike Cinemas Inc. has opened Ovation 10 featuring Carmike Cinemas’ new cinematic dining experience in Bloomington. The new movie theater is located at 415 Detroit Drive. The dine-in entertainment complex features 10 large, wall-to-wall screens, all-new stadium seating with accessible service buttons, a projection system, which delivers crystal-clear 2D and 3D images, as well as special services for visually and hearing-impaired guests. The complex also provides kiosks and guest services and a cocktail lounge with a full service bar.
MINNEAPOLIS — Shorenstein Properties LLC has arranged the lease of 21,877 square feet of space for Sports Authority at the Minneapolis City Center. Sports Authority will occupy the ground-floor retail space on the Nicollet Mall and 7th Street side of the property. Sports Authority’s lease of space brings the total retail occupancy at Minneapolis City Center to 86 percent. Additionally, Shorenstein recently signed a lease for more than 40,000 square feet with discount luxury apparel retailer Saks Fifth Avenue OFF 5TH for a store that is slated to open in April 2016. The Sports Authority store is expected to open this fall. Shorenstein Properties acquired Minneapolis City Center in 2012. Minneapolis City Center is the two-story retail portion of a 1.6 million-square-foot mixed-use development.
LAFAYETTE, IND. — Mid-America Real Estate Corp. has brokered the sale of a 348,531-square-foot shopping center in Lafayette. A real estate investment trust sponsored and managed by Phoenix-based Cole Capital purchased the property for $54 million. Lafayette Pavilions Shopping Center is located at the southwest corner of State Road 26 and Creasy Lane. Gordmans, Hobby Lobby, Gander Mountain and TJ Maxx anchor the shopping center. Rick Drogosz and Ben Wineman of Mid-America, in cooperation with Mid-America Real Estate – Indiana LLC, were the exclusive brokers in the transaction on behalf of the seller, Dallas-based Invesco Real Estate.
INVER GROVE HEIGHTS, MINN. — Oak Grove Capital has originated a $42.5 million fixed-rate Fannie Mae loan for joint venture White Oak Partners and a fund managed by Ares Management. The loan will be used to acquire Southview Gables, a 425-unit garden-style apartment complex in Inver Grove Heights, a suburb in the Twin Cities. The fixed-rate loan has a 10-year term with three years of interest-only payments and seven years of yield maintenance.
FLORISSANT, MO. — Dougherty Mortgage LLC has arranged a $3.5 million Fannie Mae loan for the refinancing of Hathaway Village Apartments, a 128-unit multifamily property located in Florissant. The 10-year loan includes a 30-year amortization schedule. Dougherty’s Dallas office arranged the loan for borrower, Hathaway Village Partners LLC. The property is close to I-270 and other major highways. Units include fully equipped kitchens, ceiling fans, central heat/air and oversized patios and balconies.