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.
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).
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.
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.
CHICAGO — Brennan Investment Group LLC, in a joint venture with Goldman Sachs, has acquired a 23-building, 4.68 million-square-foot industrial portfolio for an undisclosed price. The properties, located throughout the Chicago metropolitan area, were purchased from Mirvac Industrial Trust, an Australian public REIT. CBRE and the Macquarie Group represented the seller in the transaction.
CHICAGO — Aries Capital has brokered a $2.4 million Fannie Mae loan for an apartment building in Chicago. The property is located at 854 W. Armitage St. in Chicago’s Lincoln Park neighborhood. The building features five newly remodeled apartment units and ground level retail leased to a local business. Eric Jones of the firm’s Chicago office secured the 10-year, non-recourse loan for the borrowers, Douglas Crocker II and partners. The loan features a 4.23 percent interest rate and a 30-year amortization schedule. The fixed-rate loan represented 115 percent of the total cost basis.
ST. LOUIS — Hawthorn Leadership School for Girls has purchased a 57,000-square-foot building in St. Louis for $1.75 million. The property, located at 1901 N. Kingshighway, will serve as a new charter school, which is Missouri’s first all-girls public school. The school plans to open this fall. Hawthorn is a college preparatory middle and high school with a focus on science, technology engineering and math. Peter Newton of Hilliker Corp. represented the seller, Imagine Schools. John Ross of Summit Development represented the buyer, Hawthorn School.
O’FALLON, MO. — Mid-America Real Estate Corp. and St. Louis, Mo.-based Pace Properties have brokered the sale of O’Fallon Walk, a 157,779-square-foot community shopping center in O’Fallon, a St. Louis-suburb. Boca Raton, Fla.-based PEBB Enterprises purchased the property, which is located at the southwest corner of Highway K and Feise Road, for an undisclosed sales price. Gordmans, Justice, Kirkland’s, and Catherines anchor the center. Ben Wineman of Mid-America and Scott Seyfried of Pace Properties brokered the transaction on behalf of New York-based Special Servicer for a CMBS Trust.
DOWNERS GROVE, ILL. — J.C. Anderson Inc. has completed a 30,000-square-foot office renovation in Downers Grove. The firm completed a build-out at the Corridors II office building located at 2655 Warrenville Road. The facility will serve as the new headquarters for CompuSystems Inc., a registration service provider for the convention trade show industry. The firm, previously located at 2805 S. 25th Ave. in Broadview, was founded in 1976 and employs approximately 200 people. The renovation included the addition of private offices, conference rooms and workstations. Jason Hawkins, Greg Garland and Bill Dennison led the J.C. Anderson construction team. Dawn Newman of Newman Architecture provided architectural services and Syska Hennessy Group provided engineering.
WACONIA, MINN. — Upland Real Estate Group has arranged the $1.5 million sale of a Caribou Coffee retail property located in Waconia, approximately 32 miles west of Minneapolis. A local buyer purchased the property, which is a new construction. Caribou Coffee signed a 15-year lease at the building. Upland Real Estate Group represented the undisclosed seller in the transaction.
