PLAINFIELD, IND. — Meritex has acquired the MetroAir Building #3, a 248,358-square-foot, Class A industrial facility located at 758 Columbia Road in Plainfield. The property, part of the MetroAir Business Park, is fully occupied and features an ESFR sprinkler system and a 28-foot ceiling height. The property also has access to I-70, I-74 and I-65. This acquisition expands Meritex’s Indianapolis portfolio to more than 1 million square feet. Meritex will directly manage the MetroAir property along with its other holdings in Indianapolis.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a former funeral home in the Lakeview neighborhood of Chicago. Stonestreet Partners LLC purchased the 12,500-square-foot building and 0.33 acres of land. The subject property is located at the northeast corner of Lincoln, Southport, and Wellington avenues. Stonestreet plans to redevelop the former funeral home into a space that will include retail and residential property. Paul Bryant and Andrew Becker of Mid-America represented the seller, a private family and land trust. Kevin Boyd of SRS Real Estate represented the buyer.
BROOKFIELD, WIS. — Land assembly at The Corners of Brookfield mixed-use development in Brookfield is now complete. Brookfield Corners LLC, a joint venture between IM Properties, Bradford Real Estate and The Marcus Corporation, is developing the $200 million project. The development, which is bordered by West Bluemound Road, North Barker Road and I-94 in Brookfield, will serve as a destination for luxury shopping, dining and entertainment. Plans call for 400,000 square feet of retail and restaurant space anchored by Wisconsin’s first ever Von Maur Department Store, as well as 235 luxury apartments that will be managed by Milwaukee-based Mandel Group. With the entire 19-acre site now under ownership of Brookfield Corners LLC, the project will move toward a groundbreaking, which is set for mid-April. Demolition of the former Menards buildings and the former Marcus Theater is complete, with demolition of the adjoining strip mall also near completion.
GRAND RAPIDS, MICH. — Cohen Financial has arranged $10.3 million in loans through Pillar’s lending program for the acquisition of two Grand Rapids multifamily properties. Cathy Bronkema of Cohen Financial secured an $8.2 million HUD 223(f) loan for the acquisition of Richmond Hills Apartments, a 222-unit property. Bronkema also secured a $2.16 million Fannie Mae loan for the acquisition of Eagle Nest Apartments, a 48-unit property. The borrower is Trillium Ventures MSV, a Grand Rapids-based multifamily owner/operator.
DECATUR, ILL. — Block & Co. has brokered the $4.6 million sale of a 45,114-square-foot retail strip center in Decatur. The property is located at 4202-4298 N. Prospect at the southeast corner of I-72 and 51 Highway. A Walmart Supercenter and Sam’s Club anchor the center. Other tenants at the center include Jo-Ann Fabric and Craft, RadioShack and Sally Beauty Supply. David Block and Max DiCarlo of Block & Co. represented the sellers, Bloomfield 2005 LLC and Metcalf Arlington SPE LLC.
CHICAGO — Tokyo-based restaurant chain Gyu-Kaku will open its second Chicago location after signing a 10-year lease for 2,800 square feet at 1364 W. Randolph St. in the West Loop. Lee Ffrench of @properties Commercial represented Gyu-Kaku in the transaction. Elan Rasansky of RKF represented the landlord, Harrison Jones. The Japanese barbecue restaurant has more than 700 locations worldwide, including more than two-dozen in North America. In 2011, the company opened its first Chicago location at 210 E. Ohio St., just off the Magnificent Mile. Gyu Kaku’s new location is at the northeast corner of Randolph and Ada Streets, in an area of the West Loop known as Restaurant Row.
LOMBARD, ILL. — Leopardo Cos. Inc. has completed its 68,000-square-foot renovation of the AMC Yorktown 18 featuring AMC Red Kitchen in Lombard. The renovation was part of AMC Theatres’ strategy to enhance the overall moviegoing experience by updating several theater locations throughout its circuit. Leopardo has completed projects for the company at several locations across the country, including the AMC 600 N. Michigan 9 in Chicago. The AMC Yorktown 18 renovation consisted of the demolition and renovation of auditoriums, lobby and restrooms, as well as box office, guest services and concession areas. The auditoriums were also upgraded to include power reclining seats with tables to accommodate fast-casual dining. The renovation also included the build-out of an AMC Red Kitchen, one of only two AMC locations in the United States to feature the dining concept. The concept allows guests to enjoy a meal during a movie from their power recliner. MacGuffins, a bar and lounge that serves specialty cocktails, beer and wine, was also added during the renovation. Leopardo served as general contractor and worked in collaboration with owner’s representative Jones Lang LaSalle and BRR Architecture to complete the project.
COLUMBUS, OHIO — Easton Town Center, a 1.7 million-square-foot shopping center located in Columbus, has signed lease agreements with 13 new tenants that will be included in the shopping center’s new 500,000-square-foot north district, Easton Gateway. Steiner + Associates and The Georgetown Co. are the co-developers for the project. Tenants include JoS. A. Bank, The Container Store, Z Gallerie, FUSIAN, BJ’s Restaurant and Brewhouse, Payless ShoeSource, Total Comfort Shoes, European Wax Center and more. The new tenants will join Golf Galaxy, J. Alexander’s, Melt, Pies & Pints and Whole Foods, which were previously announced in December and are currently under construction. Several other major retailers have already opened at Easton Gateway development including Costco, REI, Dick’s Sporting Goods, Field & Stream and Saks Fifth Avenue Off 5th.
JOLIET, ILL. — Marcus & Millichap has arranged the sale of 421 and 521 Kungs Way and 2414 Douglas, a 16-unit apartment property located in Joliet. The property includes one-, two- and three-bedroom units. The property features ample off-street parking. Andrean Angelov, Ryan Engle and Adam Fortino of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor, and the buyer, a limited liability company.
LOMBARD, ILL. — Bradford Allen has arranged the sale of a 52,564-square-foot office building in Lombard. The three-story property is located at 1910 S. Highland Ave. and is 37 percent leased. Ryan Moen of Bradford Allen represented the undisclosed buyer in the transaction. Bill Novelli and Derek Fohl of CBRE represented the seller, RBS Citizens Bank. Bradford Allen will serve as the leasing agent and property manager for the property.