Midwest

NORTHVILLE, MICH. — PF Michigan Group, a Michigan-based Planet Fitness area developer owned and operated by Bryan and Laura Rief, has opened two new 30,000-square-foot Planet Fitness clubs located at 8260 23 Mile Road in Shelby Township and 6650 Telegraph Road in Bloomfield Township near Detroit. The franchisee of both locations is based in Northville. “These full-size clubs showcase our massive selection of top-of-the-line cardio and strength equipment, 30-minute workout area and PF Spa,” says Laura Rief. Both new clubs will feature over 120 pieces of high-quality cardio equipment including treadmills, ellipticals, stairclimbers, arc trainers and stationary bikes. Planet Fitness also offers a full complement of upper- and lower-body strength machines, a 30-minute PF Express circuit, 12-minute abdominal circuit, and new PF360 multi-function training unit. Planet Fitness is open and fully staffed 24 hours, seven days a week, and has a certified fitness trainer on site during the work week to help members with workout programs free of additional charge. Planet Fitness plans to open 10 to 15 additional properties in the Detroit area over the next 36 to 48 months. Most recently, PF inked a lease for a 35,000-square-foot club located in Chesterfield that will open this fall. Founded …

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Core-Mark-Plymouth-MN

PLYMOUTH, MINN. — CPA:18 – Global, a non-traded REIT managed by W. P. Carey Inc., has acquired a 208,900-square-foot warehouse and distribution facility in Plymouth. A private investment group sold the property for $17 million. The facility is net leased to Core-Mark International, a subsidiary of Core-Mark Holding Company Inc., for a period of 13 years. Originally constructed in 1975, the facility has been expanded twice and features more than 23,000 square feet of cooler/freezer storage space. The seller is contributing $1 million for tenant improvements to the office space and to enhance the HVAC and lighting of the warehouse.

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The-Healthcare-Resort-Topeka-KS

TOPEKA, KAN. — Mainstreet has broken ground on The Healthcare Resort of Topeka. Located at 6202 SW 6th Ave. in Topeka, the 69,935-square-foot facility will feature 96 beds and provide short-stay rehabilitation and therapy care, as well as assisted living. On-site amenities will include a therapy gym, an outdoor rehabilitation courtyard, movie theater, game room, spa and on-site chef. Slated to open by spring 2016, the $16 million project will bring 225 construction jobs and 90 permanent jobs to the area. Carmel, Ind.-based Mainstreet develops, finances and jointly operates transitional care centers and long-term health care properties.

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Strongsville-Shopping-Center-OH

STRONGSVILLE, OHIO — Marcus & Millichap has brokered the sale of Strongsville Shopping Center, a 30,750-square-foot retail property in Strongsville, a suburb of Cleveland. The asset, which is anchored by Tutor Time, sold for $3.9 million. Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap represented the seller, a Florida- and Ohio-based joint venture, in the transaction.

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3525-McCarty-Lane-Lafayette-IN

LAFAYETTE, IND. — Chicago-based Baum Realty Group has arranged the sale of a single-tenant, net-leased Goodrich Quality Theaters property. Located at 3525 McCarty Lane in Lafayette, the property sold for $2.4 million. The 18,000-square-foot property has three years remaining on the original 20-year lease with two five-year extension options. Goodrich Quality Theaters is a Michigan-based operator with 30 theater locations across four states. Brad Teitelbaum and Patrick Forkin of Baum represented the undisclosed seller in the transaction. The buyer was a Michigan-based private investor.

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LANSING, MICH. — Signature Associates, an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of a self-storage facility, located at 4724 Creyts Road in Lansing. Storage Pros Acquisitions purchased the 71,900-square-foot property for an undisclosed price. Jack Johns of Cushman & Wakefield | Signature Associates represented the seller, Westland Storage LLC, in the transaction.

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ST. CHARLES, ILL. — CBRE has brokered the sales of two multifamily properties in St. Charles totaling $38.2 million. In the first transaction, Shodeen Group sold Wessel Court to Axiom Properties Inc. for $20.8 million. Located at 1820 Wessel Court, the property includes 228 apartment units. In the second transaction, Kinzie Realty Corp. sold Fox Run to Windy City RE LLC for $17.4 million. Located at 145 Walnut Drive, the property features 220 apartment units. John Jaeger, Dan Cohen and MJ Zaring represented the sellers in both transactions.

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925-Euclid-Ave-Cleveland

CLEVELAND, OHIO — Newmark Grubb Knight Frank (NGKF) has brokered the sale of the Huntington Building, located at 925 Euclid Ave. in Cleveland. Hudson Holdings LLC purchased the 1.4 million-square-foot office building for $22.5 million from Optima925 LLC. The buyer plans to redevelop the 22-story property. Terry Coybe and Richard Sheehan of NGKF represented the seller in the transaction. Additionally, NGKF will market the property, which is currently 8 percent occupied, for lease.

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Shoppes-at-Park-Place-Southfield-MI

SOUTHFIELD, MICH. — Axilla Capital has arranged a $3.7 million loan for the refinancing of Shoppes at Park Place in Southfield. The 10-year loan features three years of interest-only payments and a 30-year amortization schedule. The 18,373-square-foot retail property is 93 percent occupied by several national tenants, including Fuddruckers, Tim Hortons, Subway and Qdoba. Joel Mazur of Axilla Capital originated the transaction and secured the financing for the undisclosed borrower.

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Office-Depot-Petco-WI

BROOKFIELD AND GREENFIELD, WIS. — NorthMarq Capital has arranged $6 million in refinancing for two retail properties, both occupied by Office Depot and Petco, in Wisconsin. Totaling 86,274 square feet, the properties are located at 16085-95 W. Bluemound Road in Brookfield and 4940-50 S. 76th St. in Greenfield. Jeff Frankel of NorthMarq’s Chicago office arranged the financing for the undisclosed borrower through NorthMarq’s correspondent relationship with a life insurance company.

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