Midwest

Busch-Stadium

ST. LOUIS — The St. Louis Regional Convention and Sports Complex Authority (RSA) has contracted Kwame Building Group Inc. (KWAME) to provide project management support to John Loyd, RSA’s developer’s representative, for the proposed NFL stadium on the St. Louis riverfront. The RSA contracted John Loyd as its developer’s representative to consult on stadium design and construction. The Hunt Construction Group/Clayco (HCKL) construction management team will report to Loyd. Hunt Construction, in association with Kwame Building Group, served as the design-build contractor on the $270 million Busch Stadium in downtown St. Louis, with Loyd as the owner’s representative. Construction of the new stadium would create more than 5,000 construction jobs over a four-year period, in addition to retaining a major regional employer and more than 2,400 game-day jobs.

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ZION, ILL. — Cohen Financial has arranged $9.2 million in acquisition loans through Pillar’s lending program for two multifamily properties in Zion. Dan Rosenberg of Cohen Financial’s Chicago office secured a $5.3 million loan for Country Chalet Apartments and a $3.85 million loan for Park Trails Apartments. The two properties purchased included a total of 247 units. The fixed-rate, 15-year loans include 30-year amortization schedules. The borrower is an affiliated entity of The Ferndale Realty Group LLC, a Chicago-based real estate investment company.

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WICHITA, KAN. — Value Place, a value extended stay hotel brand, has changed its name to WoodSpring Suites, effective immediately. In addition, the Wichita-based company is developing a brand extension with a more enhanced offering, WoodSpring Suites Signature, designed to appeal to less price sensitive guests. “Our new brand strategy will foster our ability to further expand our network, gain access to new markets and customer segments, and further drive RevPAR growth for our company owned hotels and development partners,” says Bruce Haase, CEO of the brand. “Leveraging our highly profitable operating model and history of product innovation, we believe that our rebranding strategy will be the catalyst to take the company to the next level of growth and profitability. We are building from a strong foundation.”

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ELK GROVE VILLAGE, ILL. — Entre Commercial Realty has arranged the $2.3 million sale of a 41,600-square-foot industrial facility in Elk Grove Village. Horizon Logistics Inc., which is doing business as Seko Logistics, acquired the property located at 801 Lunt Ave. The free standing, single-tenant building is in close proximity to I-90, I-355 and O’Hare International Airport. Jonathan Kohn and Ron Behm of Colliers International represented the seller, Prologis. Tom Boucher and Dan Jones of Entre Commercial Realty represented Horizon Logistics. Seko Logistics is a 39-year-old global firm that specializes in transportation, logistics, freight forwarding and warehousing.

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MONONA, WIS. — Lee & Associates has arranged two new leases for a 4,900-square-foot new construction retail building located at 103 W. Broadway. Qdoba Mexican Grill will occupy 2,500 square feet and Mr. Brews Taphouse will occupy 2,400 square feet at the new property. Both restaurants will open this fall. Steve Doran of Lee & Associates Madison represented the landlord in both transactions. Galway Companies, Inc. is developing and will be manage the property.

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Alexin_Bluffton_IN

BLUFFTON, IND. — Stan Johnson Co. has arranged the $20.5 million sale-leaseback of an industrial facility in Bluffton. The property, which is leased to Alexin LLC, is located at 1390 South Adams St. Ken Hedrick, Jerry Hopkins, D. Andrew Ragsdale and Scott Briggs of Stan Johnson Co. represented the seller and the buyer in the corporate sale-leaseback transaction. The 90,108-square-foot facility was built in 2009. The location currently serves as Alexin’s headquarters and aluminum casting facility.

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BlueStone-Flats

DULUTH, MINN. — Summit Management has begun construction on BlueStone Flats, a 142-unit high-end luxury apartment community in the BlueStone Commons residential and commercial development in Duluth. The new building will include studio, one- and two-bedroom floor plans. Units will feature balconies, six-foot windows, granite countertops, custom wood cabinets, stainless steel appliances and plank flooring pendant lighting. Amenities at the property will include an indoor, year-round swimming pool, whirlpool, sauna and a fitness center. Doran Construction, a Bloomington, Minn.-based general contracting company, will also build Bluestone Flats. An official groundbreaking ceremony for BlueStone Flats will take place in May.

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Merrill-Ridge-Plaza

MERRILL, WIS. — Cohen Financial has arranged a $6.3 million refinancing loan for Merrill Ridge Plaza, a mixed-use retail and office center located at 3404-3500 East Main Street in Merrill. Merrill Ridge Plaza is a 122,919-square-foot property that’s 97 percent leased. Anchor tenants include Piggly Wiggly, Dollar Tree and Church Mutual Insurance Co. Don Trossman of Cohen Financial’s Chicago office secured the fixed-rate loan that includes a 20-year amortization schedule with River Valley Bank, a regional bank. Martin Graff of M.H. Graff & Associates represented the borrower, Focused Retail-Merrill Ridge LLC.

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DES PLAINES, ILL. — Quantum Real Estate Advisors has brokered the $710,000 sale of retail building located at 804 S. Elmhurst Road in Des Plaines. Jewel-Osco and Fifth Third Bank shadow anchor the shopping center. A Bartlett, Ill.-based real estate investor sold the property. The buyer was a private real estate investor based in Northbrook, Ill. Chad Firsel of Quantum was the sole broker in the transaction.

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laguna-apartments

MINNEAPOLIS — Dougherty Funding has arranged a $10.3 million construction loan for a new six-story, 45-unit apartment project in Minneapolis. The site for the project is located at Lagoon Avenue and Irving Avenue in the Uptown neighborhood. Dougherty Funding arranged financing for the borrower, Laguna Property Investors LLC. CPM Development will begin construction on the project in May. Construction is expected to take 12 months. Dougherty Funding LLC serves as lead lender and servicer for the loan.

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