MARYLAND HEIGHTS, MO. — The Sansone Group/CORFAC International has arranged the lease of a 29,231-square-foot industrial space for JW Logistics LLC in Maryland Heights, a suburb of St. Louis. The property is located at 11401-11445 Moog Dr. The industrial space is near I-270 and Page Avenue. JW Logistics will use the warehouse space as a packaging and staging area to serve one of its main corporate clients. Vince Bajardi of The Sansone Group/CORFAC International represented JW Logistics in the lease.
OVERLAND PARK, KAN. — Marcus & Millichap has arranged the $18.6 million sale of Town Center Apartments, a 156-unit apartment complex in Overland Park located 20 miles southeast of Kansas City. Built in 1997 on nearly 14 acres, the 176,904-square-foot property includes 20 two-story buildings. The complex’s one-, two- and three-bedroom apartments average 1,134 square feet and feature nine-foot ceilings with crown molding, in-unit washers and dryers and fully equipped kitchens. Select units have attached garages. The complex is located at 6233 W. 120th St. Alex Blagojevich of Marcus & Millichap’s Tampa office, David Gaines of the firm’s Chicago downtown office, and Michael Sullivan, Grant Kollman and Brett Meinzer of the firm’s Kansas City office represented the undisclosed seller and buyer.
PLAINFIELD, IND. — CORFAC International has arranged the $4 million sale of a 35-acre property in Plainfield, a suburb of Indianapolis. Knight Transportation purchased the property located at 3875 Plainfield Road. The fully paved surface was previously used as a remote airport parking lot. Knight plans to use the property as an industrial truck maintenance and dispatch facility and create a new truck driving school on the site. Steven Tick of Podolsky|Circle CORFAC International in Chicago represented Knight Transportation in the sale.
ST. LOUIS — McGrath & Associates has completed construction work on Ameren Missouri’s $8.5 million switching station located at 1901 Martin Luther King Drive in downtown St. Louis. The entire switching project, estimated at $42.5 million, is part of a larger Ameren Missouri investment to upgrade electric service in downtown St. Louis over the coming decades. McGrath constructed 70 structural piers with eleven concrete pad foundations, a perimeter fence and a new city sidewalk. McGrath also provided site work on the project, removing abandoned sewer pipes and cisterns, including remedial soil excavating.
ROMEOVILLE, ILL. — Mid-America Real Estate Corp. has brokered the sale of a 29,209-square-foot shopping center in Romeoville, a suburb of Chicago. Scottsdale-based Sand Capital purchased the property located at the northwest corner of 135th and Weber Road. Carillon Court features Allstate Insurance, Comcast, Stella’s Bar & Grill and Essential Chiropractic Center. Carly Gallagher and Ben Wineman of Mid-America brokered the transaction on behalf of a Chicago-based bank.
MIDDLETON, WIS. — ALTUS Commercial Real Estate Inc. has arranged the lease of 3,263 square feet of retail/office space in Middleton, a northwestern suburb of Madison. The property is located at 6301 University St. Dr. Joe Cristoforo and Dr. Ken Neidhart have joined together to create The Center for Periodontics & Dental Implants Clinic, which will serve at this new location. The practice is set to open in March. Jeff Jansen represented the landlord in the transaction.
CHICAGO — KeyBank Real Estate Capital has arranged a $334.4 million Fannie Mae credit facility for Enlivant, a Chicago-based owner and operator of senior care facilities across the United States. The loan was arranged for 54 assisted living properties in 12 states including Iowa, Indiana, Kentucky, Michigan, Nebraska, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Washington and Wisconsin. The new loan structure provides Enlivant with access to growth capital at attractive rates during the 10-year term. Key’s Healthcare Mortgage Banking Team was led by Carolyn Nazdin and Charlie Shoop and worked in conjunction with Fannie Mae to originate and close the loan in less than 60 days.
DETROIT — Bernard Financial Group has arranged a $125 million CMBS loan for the acquisition of the Compuware Building, a 15-story, 1 million-square-foot office tower located at One Campus Martius in downtown Detroit. The acquisition includes an adjacent 10-story parking garage with 2,700 spaces. The borrowing entity is 1000 Webward LLC, a joint venture between Bedrock Real Estate Services and Meridian Health Plan. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group originated the loan.
CHICAGO — The Virgin Group has opened its first property, Virgin Hotels Chicago. The new hotel brand will join a portfolio of hospitality companies led by Virgin Group and its founder, Sir Richard Branson. Virgin Hotels Chicago is located in Chicago’s Loop district in the historic Old Dearborn Bank Building at 203 N. Wasbash Ave. The 26-story Art Deco building includes 250 guestrooms, including 40 one-bedroom suites and two penthouse suites. All guestrooms are divided into two spaces by sliding doors. The dressing rooms include a full vanity, make-up desk and mirror, an extra-large shower with a bench and his and hers closets. Several of the building’s original features remain intact and are showcased throughout. Some of those include a 1920s oak cigar bar that serves as the hotel’s front desk, ornate brass elevator doors and an original mail slot and chute. Virgin Hotels plans to open a second location in Nashville in the summer of 2016 and a third property in New York City in 2017. The team will announce two additional locations by the end of 2016, with the brand planning to open 20 locations by 2025.
DOWNERS GROVE, ILL. — Adelphia Properties has brokered the $450,000 sale of a 5,000-square-foot freestanding retail building in Downers Grove. The property, which formerly housed Play It Again Sports, is located at 1628 Ogden Ave. George Spirrison and Simeon Spirrison of Adelphia Properties represented the seller, a private investor. Another private investor purchased the property at its full list price.