Midwest

Mid-America Arranges Sale of Chippewa Commons in Chippewa Falls, Wis.

by Danielle Everson January 14, 2015

CHIPPEWA FALLS, WIS. — Mid-America Real Estate Corp. has arranged the sale of Chippewa Commons in Chippewa Falls. An Eau Claire, Wis.-based private investment group purchased the 169,631-square-foot, multi-tenant shopping center. Chippewa Commons is located at the southeast corner of U.S. Highway 124 and Woodward Avenue. Dollar Tree, GNC, H&R Block and Check ‘n Go are tenants at the center. Ben Wineman of Mid-America and Mark Robinson of Mid-America Real Estate – Minnesota LLC brokered the transaction on behalf of a public traded real estate investment trust.

January 14, 2015

Illinois Midwest Retail

Quantum Brokers Sale of 57,499 SF Shopping Center in Orland Park, Ill.

by Danielle Everson January 14, 2015

ORLAND PARK, ILL. — Quantum Real Estate Advisors Inc. has brokered the $5.4 million sale of a 57,499-square-foot shopping center. Marley Creek Square is located at 18000-18092 Wolf Road in Orland Park. The center consists of three buildings — a 27,550-square-foot building inline with Jewel-Osco and anchored by Chase Bank; a 24,461-square-foot building anchored by Barraco’s restaurant; and a 5,488-square-foot outlot building anchored by Starbucks and Jimmy Johns. A local real estate operator sold the property to a Rolling Meadows, Ill.-based private real estate investor. Chad Firsel and Conor Bossy of Quantum represented the seller in the transaction.

January 14, 2015

Midwest Missouri Multifamily

The Opus Group Begins Construction on Luxury Apartment Building in St. Louis

by Danielle Everson January 14, 2015

ST. LOUIS — The Opus Group, in partnership with AIG GlobalReal Estate, has begun construction on a 12-story luxury apartment building in the Central West End neighborhood of St. Louis. The building will include 217 apartment units featuring alcove, one-, two-bedroom and penthouse floor plans. Amenities will include a fitness center, a pool terrace with an outdoor grilling space and fire pits, bar and club rooms, a dog wash and underground parking. Opus Development Co. LLC is the developer and Opus Design Build LLC is the design-builder. Opus AE Group LLC is the architect and structural engineer of record. Minneapolis-based ESG Architects provided conceptual design services. Completion of the project is slated for fall 2016.

January 14, 2015

Midwest Missouri Retail

PPM/Keller Plaza acquires Keller Plaza Shopping Center

by Danielle Everson January 14, 2015

ST. LOUIS — PPM/Keller Plaza LLC has acquired a retail center in St. Louis for $3.7 million. Keller Plaza includes a 52,842-square-foot shopping center and 11,034 square feet of ground leases. The property is located at 4500 Lemay Ferry Road. PPM acquired the property from Phillips Edison & Co. Jack in the Box, Firestone, Jiffy Lube and the Keller Plaza Cine 8 theaters anchor the property. There is a total of 1,020 square feet of in-line vacancy.

January 14, 2015

Loans Midwest Minnesota Mixed-Use Office Retail

NorthMarq Secures $18.4M Loan for Marquee Place in Wayzata, Minn.

by Danielle Everson January 13, 2015

WAYZATA, MINN. — NorthMarq Capital has arranged the $18.4 million refinancing of Marquee Place, a 72,000-square-foot retail/office property Wayzata, a suburb 11 miles west of Minneapolis. The property is located at 641-681 Lake St. E. The mixed-use property features unobstructed lake views. The 12-year loan incudes a 25-year amortization schedule. NorthMarq arranged financing for the undisclosed borrower through its correspondent relationship with a life insurance company.

January 13, 2015

Iowa Midwest Multifamily

T.W. Sather Co. Breaks Ground on $9.7M Apartment Project in Cedar Rapids, Iowa

by Danielle Everson January 13, 2015

CEDAR RAPIDS, IOWA — T.W. Sather Co. Inc. has broken ground on the $9.7 million Kingston Village Apartments in downtown Cedar Rapids. The apartment complex located at 200 Diagonal Drive includes 64 units and features a mix of one-, two- and four-bedroom apartments. Amenities at the four-story property include management offices, a fitness center, a business center and community room. The project involved Section 42 financing from the Iowa Finance Authority (IFA), Iowa Economic Development Authority (IEDA), the city of Cedar Rapids and Bank Mutual. The project is part of major redevelopment efforts following the Iowa flood of 2008, a hydrological event that involved most of the rivers in eastern Iowa.

January 13, 2015

Indiana Midwest Retail

STREAM Capital Partners Arranges $6.9M Sale of Bass Pro Property

by Danielle Everson January 13, 2015

PORTAGE, IND. — STREAM Capital Partners has arranged the $6.9 million sale of a 135,000-square-foot retail building in Portage. The property is located at 6425 Daniel Burnham Drive and is under a long-term lease to Bass Pro Shops. A private owner/developer sold the property to the buyer, a public REIT. Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners represented the seller. STREAM Capital Partners is a boutique net lease and sale-leaseback advisory group.

January 13, 2015

Illinois Midwest Office

Millennium Properties Brokers Sale of Office Property in Northbrook, Ill.

by Danielle Everson January 13, 2015

NORTHBROOK, ILL. — Millennium Properties R/E has brokered the sale of seven office condominiums totaling 19,567 square feet in the Sky Harbor Business Park in Northbrook, a suburb of Chicago. The units were part of a recently developed two-story office building located at 304 Wainwright St., which included nine properties totaling 23,958 square feet. A medical user purchased the office condos for an undisclosed sales price. The new owner plans to occupy several units and lease the rest of the space. The seven units range from vanilla-box condition to move-in ready with two units leased at the time of sale. The Sky Harbor Business Park is located near Edens Expressway Spur (I-94) and the Tri-State Tollway (I-294).

January 13, 2015

Midwest Multifamily Wisconsin

Ogden & Co. Arranges $3.9M Sale of 56-Unit Apartment Complex in De Pere, Wis.

by Danielle Everson January 13, 2015

DE PERE, WIS. — Ogden & Co. Inc. has arranged the $3.9 million sale of a 56-unit apartment complex in De Pere, a suburb of Green Bay. Trumpeter Trail is located at 605-665 Trumpeter Trail. Trumpeter Trail Associates LLC sold the property to the buyer, a Wisconsin-based investor group. David Tighe and Tim Dwyer of Ogden & Co. were the brokers involved in the transaction.

January 13, 2015

Hospitality Midwest Missouri

HREC Arranges Sale of Crowne Plaza St. Louis

by Danielle Everson January 12, 2015

ST. LOUIS — HREC Investment Advisors has arranged the sale of the 440-guestroom, full-service Crowne Plaza St. Louis Hotel in St. Louis. 200 STL Holdings LLC purchased the property for an undisclosed sales price. The 29-story hotel is located directly across from Jefferson National Expansion Memorial Park and includes views of the Gateway Arch, Mississippi River and St. Louis skyline. The buyer plans to convert the property into a mixed-use project, with a 140-key boutique hotel and 300 residential units. Geoff Davis and Ted Anka of HREC Investment Advisors, along with Scott Kaniewski of SVP – Chicago, represented Hallmark Hotels LLC in the transaction.

January 12, 2015

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