ROSEMONT, ILL. — McShane Construction Co. has completed The Shops and Lofts at 47, a mixed-use development. The development sits on a three-acre parcel at 747 East 47th St. in Chicago’s Bronzeville neighborhood. The Shops and Lofts at 47 spans 202,000 square feet and is anchored by a 41,000-square-foot Walmart Neighborhood Market. It also includes 96 apartments in one-, two- and three-bedroom layouts.
CREST HILL, ILL. — Marcus & Millichap has arranged the sale of 1473 N. Rock Run Drive, a 12-unit apartment complex in Crest Hill, for $802,500. Ryan D. Engle, Andrean Angelov and Adam Fortino of Marcus & Millichap’s Chicago Oak Brook office marketed the property on behalf of the seller, a limited liability company. Engle, Angelov and Fortino also represented the buyer, a limited liability company. The property consists of four one-bedroom units and eight two-bedroom units measuring between 700 and 800 square feet.
AKRON, OHIO — Homewood Suites by Hilton has opened its newest property, Homewood Suites by Hilton Akron Fairlawn. The four-story hotel is the 15th Homewood Suites property in Ohio and the first in the Akron area. TMI Hospitality owns the hotel, which is located at 210 Springside Drive just off I-77 near downtown Akron. Nearby attractions include the Akron Zoo, Stan Hywet Hall & Gardens and the Akron Art Museum.
KANSAS CITY, MO. — Construction is complete on the McGee Building, a mixed-use loft-style building at 2980 Gillham Road in Kansas City. The property is located in the Union Hill neighborhood, a 16-block district in Kansas City that features entertainment, dining, condominiums, retail, office space, a Fairfield Inn & Suites by Marriott and green space. The building will offer 56 loft-style residential units, as well as 4,325 to 18,000 square feet of retail space. The building is named after Allan B.H. McGee, one of Kansas City’s earliest settlers. The building will feature reclaimed timber furniture from local craftsman Jim Drew, a gallery of rotating art in the first-floor lobby, rainwater cistern and nearly $1.2 million in streetscaping around the building. Units range in price from $850 to $1,510 per month.
GLENDALE, WIS. — Marcus & Millichap has brokered the $6.2 million sale of Cornerstone Center, a 13,304-square-foot retail property located at 5595 N. Port Washington Road in Glendale, roughly nine miles west of Milwaukee. Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Oak Brook, Ill.-based office represented the seller, an unnamed limited liability company, in the transaction. Sharko and Weisenbeck also secured and represented the buyer, also an unnamed limited liability company. Matthew Fitzgerald of Marcus & Millichap assisted in closing the transaction.
WEST MILWAUKEE, WIS. — NAI MLG Commercial has brokered the sale of a 24,000-square-foot industrial building located at 4545 W. Burnham St. in West Milwaukee. Samuel Check Family Trust sold the property to Office Service Co. LLP for an undisclosed price. Travis Tiede, Mitchell Starczynski, Adam Matson and Brett Garceau of NAI MLG Commercial brokered the transaction.
SHAWNEE, KAN. — Cassidy Turley has arranged two leases totaling 50,000 square feet at WestLink Business Center in Shawnee, located 10 miles southwest of Kansas City. The 170,000-square-foot industrial building is located at Highway K-7 and 43rd Street. The property is now fully leased following the two lease transactions. Missouri Valley Wildlife Products leased 20,000 square feet of space at 23112 W. 43rd St. for five years, and NWC of Kansas LLC leased 30,000 square feet at 23108 W. 43rd St. for 10 years. Brad Jacobs and Whitney Kerr, Jr. of Cassidy Turley represented the landlord, Airtex Inc., in the lease transactions. Airtex is planning to develop buildings two and three at the site, pending incentives and city approvals. The newly constructed WestLink Business Center was built on a speculative basis and delivered in January. The property features 28-foot clear heights, ESFR sprinkler systems, T5 lighting and dock and drive-in loading options.
KENOSHA, WIS. — Cushman & Wakefield represented Bridge Development Partners in the acquisition and subsequent sale of an approximately 200-acre farmland parcel in Kenosha. Uline, a shipping supply company, purchased the property for an undisclosed amount and plans to develop a new Midwest distribution facility at the site. Located at the interchange of U.S. Highway 142 and I-94, the land will house a 1 million-square-foot warehouse and a 50,000-square-foot office building. As part of the sale agreement with Uline, Bridge Development will complete site infrastructure improvements, including roads, sewer and water. Whit Heitman of Cushman & Wakefield’s Chicago office spearheaded the transactions. Bridge Development also plans to develop an additional 300 acres adjacent to the Uline property. Heitman, Sam Badger and Brad Weiner of Cushman & Wakefield are serving as the exclusive marketing agents on behalf of Bridge Development.
CAMBRIDGE, MINN. — Marcus & Millichap has brokered the $2.5 million sale of Calhoun Apartments, a 48-unit apartment property located in Cambridge. Calhoun Apartments is located at 414 Calhoun Place N. and 514 Calhoun Terrace. The 48-unit community consists of two 24-unit buildings that include one- and two-bedroom apartments. Calhoun Apartments was developed in 1978 as part of the USDA Rural Housing 515 Program. In 2009, the property had successfully exited the program and began renting at market rate. Mox Gunderson and Dan Linnell of Marcus & Millichap’s Minneapolis office represented the seller, a limited liability company. Evan Miller of Marcus & Millichap, along with Gunderson and Linnell, represented the buyer, a limited liability company.
MARINE CITY, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 153,000-square-foot industrial facility in Marine City. LTC Roll & Engineering purchased the property located at 7177 Marine City Highway for an undisclosed sales price. LTC Roll & Engineering is a manufacturer of metallic components and assemblies supplying the automotive, building products and alternative energy market segments. Jason Capitani and Joe DePonio of L. Mason Capitani represented LTC Roll & Engineering in the transaction.
