OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has arranged the $2 million sale of a 2.6-acre pad site at the Corbin Park Shopping Center in Overland Park. The property is located on the southeast corner of 135th and Metcalf Avenue. The land will consist of a new 16,500-square-foot, multitenant building that will include a 6,916-square-foot 810 Zone restaurant, a proposed mattress store and 6,000 square feet of space for lease. Block & Co. Construction Management will begin work on the building next month. David Block and Max Kosoglad of Block & Co. arranged the sale and will handle the leasing of the pad building, which has 6,000 square feet remaining to lease.
OMAHA, NEB. — Metonic Real Estate Solutions has acquired Heritage Heights Apartments, a 60-unit apartment community in Omaha. Built in 1973, Heritage Heights Apartments offers one- and two-bedroom apartments ranging in size between 700 and 1,000 square feet. The property is located within one mile of I-80, Westwood Shopping Plaza and Montclair Shopping Center. Omaha-based Seldin Co. will manage the property. Seldin Co. plans to make renovations at the property, which will include the addition of new appliances, upgraded flooring and interior painting. Exterior renovations include the addition of new siding, windows and landscaping.
CROWN POINT, IND. — Mid-America Real Estate Corp. has brokered the sale of Summit Crossing, an 11,859-square-foot shopping center Crown Point. A California-based private investor purchased the shopping center for $3.2 million. Summit Crossing is located at the southeast corner of Route 55 and East Summit Street. Tenants at the fully leased center include ATI Physical Therapy, Advance Auto Parts, Supercuts and Starbucks. Carly Gallagher and Ben Wineman of Mid-America Real Estate Corp. brokered the transaction on behalf of the seller, Chicago-based Origin Capital Partners.
SCHAUMBURG, ILL. — Summit Design + Build LLC will complete a 20,588-square-foot office build-out for Sparton Corp. at Woodfield Corporate Center in Schaumburg. The property is located at 425 N. Martingale Road. The firm, which is currently located in the same building, will be expanding to the entire 10th floor. Construction plans include the demolition of the existing space and build-out of a new reception area, multiple conference rooms, private offices, executive suite, boardroom and a new large training area with state-of-the-art technology. Lincoln Property Co. is the property manager of Woodfield Corporate Center. EWP Architects will provide architectural services. Completion is scheduled for this spring. Sparton Corp. is a provider of electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service and refurbishment. The primary markets served are medical and biotechnology, military and aerospace, and industrial and commercial.
KENOSHA, PEWAUKEE AND MENOMONEE FALLS, WIS. — Zilber Property Group will break ground on three industrial spec buildings located throughout southeast Wisconsin this spring. The properties include Zilber Industrial I at Business Park in Kenosha; Zilber Industrial I at RidgeView Corporate Park in Pewaukee; and Zilber Industrial I at Lilly Creek Business Park in Menomonee Falls. The Kenosha property includes 30-foot ceiling heights and will accommodate industrial users ranging from 27,000 to 173,000 square feet. The Pewaukee facility includes 28-foot ceiling heights and will accommodate tenants from 20,000 to 113,000 square feet. Zilber Industrial I at Lilly Creek Business Park in Menomonee Falls will be the first of two industrial facilities to be built at the site. The first facility will include 30-foot ceiling heights and can accommodate users ranging from 22,000 to 146,000 square feet. The second facility will include 30-foot ceiling heights and will be able to accommodate up to 180,000 square feet.
SOUTH BEND, IND. — Metonic Real Estate Solutions has purchased Castle Point Apartments, a 740-unit apartment complex in South Bend, for an undisclosed sales price. Originally built in three phases between 1974 and 1980, Castle Point Apartments includes one- and two-bedroom apartments ranging in size between 737 and 1,340 square feet. The 20,000-square-foot clubhouse offers residents premier amenities including indoor basketball and tennis courts along with a yoga/aerobics room, tanning room and game room. The property is located within two miles of the University of Notre Dame, St. Mary’s College and Holy Cross College. Metonic plans to make renovations at the property which will include the addition of new appliances and washers and dryers, upgraded kitchen cabinets and counter tops, and new parking garages. The clubhouse will also be renovated with additional amenities for residents. Omaha-based Seldin Co. was selected as the property manager.
EDEN PRAIRIE, MINN. — Dougherty Real Estate Equity Advisors LLC, an affiliate within the Dougherty group of companies, has acquired C.H. Robinson Worldwide Operations Center, a 153,028-square-foot office building in Eden Prairie. The facility is net-leased to C.H. Robinson and is part of its world headquarters campus. The transaction represents an off-market opportunity handled by the CBRE Minneapolis Investment Sales Team of Holtz/Buss/Watts/Welliver/Dusil.
FRASER, MICH. — Colliers International has arranged the sale of an 11,840-square-foot industrial building in Fraser. The property is located on 15 Mile Road. Jack Williams of Colliers International represented the seller, a private trust. The buyer, Royal Oak Ford, intends to use the property as a warehouse to support its main operations.
CANTON, OHIO — Marcus & Millichap has arranged the $1.5 million sale of a Texas Roadhouse ground lease, an 8,000-square foot net-leased restaurant in Canton. The asset is an out parcel to a T.J. Maxx and Burlington Coat Factory-anchored shopping center. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap’s Cleveland and Columbus offices listed the property on behalf of the seller, a New York-based investment group. Fuller, Patton and Wiles also represented the buyer, a California-based investor.
BLOOMFIELD HILLS, MICH. — Agree Realty Corp. has acquired 10 retail properties for $17.5 million. Located in seven states, the properties are net leased to five different tenants operating in three retail sectors. The transactions were completed at a weighted-average cap rate of 8.3 percent and have a weighted-average remaining lease term of 17.8 years. The recently closed transactions include sale-leaseback transactions involving multiple Taco Bell and Wendy’s locations, as well the acquisition of a Jiffy Lube service center, a KFC restaurant and a Dollar General store. Bloomfield, Mich.-based Agree Realty currently owns and operates a portfolio of 233 properties located in 39 states and containing 4.7 million square feet of gross leasable space.