LEE’S SUMMIT, MO. — Lee & Associates has brokered the $2.7 million sale of an 18,500-square-foot office building in Lee’s Summit. The property is located at 3350 Ralph Powell Road. Jon England and Nathan Anderson of Lee & Associates’ Kansas City office represented the seller, MJB of Missouri LLC. Valley Oaks Investments LLC, a private investment company, purchased the multi-tenant property.
BINGHAM FARMS, MICH. — Bernard Financial Group has arranged a $1.6 million loan for Bingham Retail, an 8,999-square-foot retail property in Bingham Farms. The property is located on an outlot of an 815,539-square-foot, five-building office park. Dave Dismondy of Bernard Financial originated the loan for the borrower, Bingham Retail LLC. The lender, Stancorp Mortgage Investors, LLC is an exclusive correspondent of Bernard Financial.
DE PERE, WIS. — The Boulder Group has arranged the $1.3 million sale of a single-tenant KinderCare property in De Pere, a suburb of Green Bay. The net-leased property is located at 1553 Arcadian Lane. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate fund. A family office from the West Coast purchased the property. KinderCare has operated at this location since 1999 and recently elected to execute an early lease extension. KinderCare is a for-profit childcare provider operating more than 1,600 locations.
LORAIN, OHIO — Namdar Realty Group has acquired a 200,000-square-foot shopping center in Lorain, approximately 29 miles west of Cleveland. The Center of Sheffield features national and regional tenants including Apple’s Market, Marc’s and H&R Block. The property is located at 400 Sheffield Center. Joel Gorjian led the Namdar Realty Group team in the transaction. Namdar’s portfolio consists of 16 million square feet of commercial real estate nationwide.
TOLEDO, OHIO — Reichle Klein Group has arranged the $1.5 million sale of Oakridge Apartments, a 48-unit apartment complex in Toledo. The property is located at 5300 Oakridge Drive. Harlan Reichle, Evan Riggle and Walter (Tony) Plath represented the seller, Stanbery Homes Inc. The buyer, Oakridge Apartments LLC, represented itself in the purchase.
MOUNT PLEASANT, MICH. — AT&T has signed a 1,920-square-foot retail lease in Mount Pleasant. The mobile provider will occupy space within the Pickard Square shopping center located at Pickard Road, is just east of Mission Street. This will be the second AT&T location in Mount Pleasant. Larry Siedell and Tjader Gerdom of Gerdom Realty and Investment represented the landlord. Steve Millman of Northstar Commercial Real Estate represented the tenant in the lease.
BROOKFIELD, WIS. — Aspen Physical Therapy has leased 3,000 square feet of space at Ruby Isle. The shopping center is located at 2205 N. Calhoun Road in Brookfield, 12 miles west of Milwaukee. Teresa Shemitis of Mid-America Real Estate –Wisconsin LLC represented the landlord in the transaction.
NORTHBROOK, ILL. — Leopardo Cos. Inc. has completed construction of The Evergreen, a new 113,000-square-foot independent living facility in Northbrook, a suburb of Chicago. The three-story seniors housing facility is part of the 55-acre Covenant Village of Northbrook campus, a Covenant Retirement Community. Serving as general contractor, Leopardo worked in collaboration with PFB Architects to complete the 56-unit residential complex. The Evergreen features one-, two- and three-bedroom apartments. A 60-vehicle underground parking facility was also completed on the campus.
CUYAHOGA FALLS, OHIO — Mission Capital Advisors has arranged non-recourse financing totaling $14.3 million on behalf of PEBB Enterprises for two shopping centers. The properties include the Shoppes at Chapel Hill, a regional shopping center in Cuyahoga Falls, Ohio, and Walden Park Shopping Center in Austin, Texas. Jordan Ray, Ari Hirt, Steve Buchwald and Jamie Matheny of Mission Capital Advisors represented PEBB Enterprises in arranging the 10-year loans for both deals. The Shoppes at Chapel Hill is an 85,229-square-foot shopping center. Staples and Michael’s anchor the shopping center, which also includes Panera Bread and Brick House Tavern. The 57,569-square-foot Walden Park Shopping Center includes a mix of national and local retailers.
MARYVILLE, MO. — Chicago-based Baum Realty Group LLC has brokered the $5.3 million sale of a single-tenant property in Maryville net-leased to Walgreens. The property, located in northwest Missouri, was sold at 99 percent of its asking price. Walgreens has 20 years remaining on the triple-net lease. Patrick Forkin and Brad Teitelbaum of Baum represented the seller, a Missouri-based private developer, in the transaction. A West Coast-based private investor purchased the property in a 1031 tax-deferred exchange.
