Midwest

M&M Arranges Sale of 24-Unit Apartment Building in Osceola, Wis.

by Danielle Everson November 19, 2014

OSCEOLA, WIS. — Marcus & Millichap has arranged the $980,000 sale of Scenic Valley Apartments, a 24-unit apartment property in Osceola, 42 miles northeast of Minneapolis. The property is located at 290 Zindaus St. The single, freestanding apartment building includes 24 one- and two-bedroom units located on 1.2 acres. Evan Miller, Dan Linnell, Mox Gunderson and Jon Ruzicka, of Marcus & Millichap’s Minneapolis office represented the seller and buyer, both limited liability companies. Matthew Fitzgerald of the firm’s Milwaukee office assisted in closing the transaction.

November 19, 2014

Midwest Minnesota Office

CPA:18 – Global Acquires Office, Research and Development Facility for $43M

by Danielle Everson November 18, 2014

PLYMOUTH, MINN. — CPA:18 – Global, a non-traded REIT managed by W. P. Carey Inc., has acquired a 191,000 square-foot office and research development facility in Plymouth for $43 million. The facility, purchased from Liberty Property Trust, is leased to Alliant Techsystems Inc. (ATK) for 10 years. ATK is an aerospace, defense and outdoor sports and recreation company operating in 21 states, Puerto Rico and internationally. Since moving into the building in 2001, ATK has made investments in the facility to meet its specific criteria for testing and housing specialized labs and equipment.

November 18, 2014

Michigan Midwest Multifamily

Princeton Enterprises Acquires Lansing Tower Apartments for $3.6M

by Danielle Everson November 18, 2014

LANSING, MICH. — Princeton Enterprises has purchased Lansing Tower Apartments in Lansing for $3.6 million. The apartment community, located at 610 W. Ottawa St., includes 140 studio, one-, two- and three-bedroom units. Cary Belovicz of Commercial Property Advisors brokered the deal on behalf of the private seller. The new owner plans to renovate the exterior of the building, make plumbing improvements and add a new swimming pool deck, fitness center, resident lounge and lobby with a new WiFi beverage café. The property was built in 1968.

November 18, 2014

Midwest Minnesota Restaurant Retail

M&M Arranges $2.1M Sale of 2,112 SF Taco Bell Property

by Danielle Everson November 18, 2014

EAGAN, MINN. — Marcus & Millichap has arranged the sale of a 2,112-square-foot Taco Bell, net-leased property in Eagan. The property is located at 2000 Cliff Road. Border Foods Inc. guaranteed the lease. The property is an outparcel for Regal Cinemark Movies 16 and is adjacent to a Target Shopping Center and a Cub Foods. Dan Yozwiak and Mark Lovering of Marcus & Millichap’s Columbus office represented the seller, a limited liability company. Joubin Manoocherhi of JNM Investments in Los Angeles, Calif. represented the undisclosed buyer.

November 18, 2014

Michigan Midwest Office

California Investor Acquires 33,000 SF Office Building Near Southfield, Mich.

by Danielle Everson November 18, 2014

BEVERLY HILLS, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 33,000-square-foot office building in Beverly Hills, five miles northeast of Southfield. The Berkshire Office Building is located at 31000 Lahser Road. California-based LSTC Michigan LLC purchased the building. The asking price for the property was $1.35 million, but the final selling price was undisclosed. Seven individual tenants occupy the building. Mason L. Capitani represented LSTC Michigan in the sale.

November 18, 2014

Indiana Midwest Multifamily

Tikijian Associates Brokers $9M Sale of Apartment Complex in Indianapolis

by Danielle Everson November 17, 2014

INDIANAPOLIS — Tikijian Associates has brokered the $9 million sale of English Village Apartments, a 208-unit apartment community in Indianapolis. The property was built in 1987. Tikijian Associates represented the seller, a privately held real estate investment firm based in New York. The buyer was an affiliate of Birge & Held Asset Management LLC, an Indianapolis-based private equity and property management firm. The buyer plans to make upgrades to the unit kitchens and bathrooms by adding upscale flooring and appliances.

November 17, 2014

Illinois Industrial Midwest

Darwin Arranges Sale of 23,164 SF Industrial Property in Westmont, Ill.

by Danielle Everson November 17, 2014

WESTMONT, ILL. — Darwin Realty & Development Corp. has arranged the sale of a 23,164-square-foot industrial building in Westmont. The property is situated on more than two acres located at 50 W. Ogden Ave. Built in 2005, the property features 7,200 square feet of office space and 18-foot to 24-foot clear ceiling heights. George Cibula and Noel Liston represented the seller, a private investor. Brian Butler of The Butler Group represented the buyer, Breen Horizon LLC, which plans to lease the property.

November 17, 2014

Midwest Retail Wisconsin

The Boulder Group Brokers $1.5M Sale of U.S. Cellular Property in Wisconsin

by Danielle Everson November 17, 2014

BELOIT, WIS. — The Boulder Group has brokered the $1.5 million sale of a single-tenant U.S. Cellular property in Beloit. The property is located at 2933 Milwaukee Road. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Wisconsin-based real estate investment company. The buyer was a Midwest-based private partnership. U.S. Cellular has 10 years remaining on its lease, which expires in January 2024.

November 17, 2014

Illinois Midwest

Reed Construction to Complete Renovation of Data Center in Chicago

by Danielle Everson November 17, 2014

CHICAGO — Reed Construction will complete the renovation of a data center for Aon Corp. in Chicago. The Aon Center is located at 200 E. Randolph St. Aon is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing. The construction, which is scheduled for completion in December, consists of demolishing the existing data center to create a 5,800-square-foot space including a smaller data center, conference rooms and an open office area for 36 workstations. Steve Sandquist is the project manager for Reed Construction. IA Interior Architects is providing architectural services.

November 17, 2014

Illinois Midwest

Lee & Associates Arranges 10,497 SF Industrial Lease Renewal

by Danielle Everson November 17, 2014

BURR RIDGE, ILL. — Lee & Associates has arranged the lease renewal of a 10,497-square-foot industrial research and development space in Burr Ridge, an affluent suburb of Chicago. Medi-Physics Inc. will occupy space located at 161 Tower Drive, Suite A. Terry Grapenthin and Jeff Galante of Lee & Associates of Illinois LLC represented the landlord, IndCor Properties. Ron Weber of CBRE represented the tenant in the transaction.

November 17, 2014

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