CUDAHY, WIS. — The Dickman Co. Inc./CORFAC International has arranged the lease of 6,600 square feet of industrial space located at 5801 S. Pennsylvania Ave. in Cudahy, Wis. Inesa LLC leased the space from Hansen Storage Co. Samuel D. Dickman, Samuel M. Dickman Jr. and Anthony Huenerbein of The Dickman Co. represented the landlord. Steve Sewart of Colliers International represented the tenant.
GRAND RAPIDS, MICH. — Marcus & Millichap has arranged the $102 million sale of a six-property apartment portfolio in Michigan. The portfolio includes 1,651 units across six multifamily properties located in and around Grand Rapids. The apartment properties include Woodland Creek Apartments and Woodbridge Apartments in Kentwood, Wyndham Hill Apartments and Autumn Ridge Apartments in Grand Rapids; and Oak Valley Apartments and Pinery Woods Apartments in Wyoming. The sale is the largest commercial real estate transaction recorded in Michigan so far this year, according to Marcus & Millichap. Earl Elliott, Gordon Navarre and Christopher Futo of Marcus & Millichap represented the undisclosed seller and the buyer, a New York-based private investment firm.
HAMMOND, IND. — Holladay Properties will develop a 60,000-square-foot commercial office building in Hammond. The site for the new property is located at the southeast quadrant of I-94 and Kennedy Avenue within the Ox Bow Landing development. The project includes the construction of a four-story, Class A office building. The property is located three miles from the Illinois border.
BALTIMORE, OHIO — RED Mortgage Capital has originated a $1.8 million FHA 223(f) loan for National Church Residences in Baltimore, approximately 29 miles southeast of Columbus. The loan will be used to provide renovations and add amenities at Walnut Creek Village, a 40-unit, project-based Section 8 rental assistance property, which caters to low-income seniors and handicapped residents. In conjunction with the FHA 223(f) refinance, the owner also closed on a $3.3 million Service Enriched Housing (SEH) Grant, which was awarded by HUD under the Assisted Living Conversion Program (ALCP). The grant funds will also be used to make renovations at the property. National Church Residences of Columbus, Ohio is a non-profit subsidiary of National Church Residences. Founded in 1961, National Church Residences has more than 335 senior living communities in its current portfolio.
LAWRENCEBURG, IND. — Hilton Worldwide and DoubleTree by Hilton have opened DoubleTree by Hilton Lawrenceburg, a new $50 million hotel development at the city’s multi-purpose Lawrenceburg Event Center. Situated on the Ohio River in downtown Lawrenceburg, the nine-story, 168-room property is located at 51 Walnut St. The hotel includes a two-story lobby, which connects to an outdoor patio providing views of the city. Guestrooms overlooking the Ohio River feature a variety of amenities, including complimentary WiFi and 42-inch LCD TVs. The hotel also includes a 24-hour fitness center, business center and Wi-Fi access throughout public spaces and guest rooms. Indiana Gaming Co. LLC owns and will manage the hotel.
ROCHESTER, MINN. — Marcus & Millichap has brokered the $795,000 sale of O’Reilly Auto Parts, a 5,600-square foot net-leased property located in Rochester. The property is located at 2610 Broadway Ave. N. Adam Prins, Matthew Hazelton and Mike Marzinske of Marcus & Millichap’s Minneapolis office represented the seller, a limited liability company.
ROYAL OAK, MICH. — Colliers International has arranged the lease of a 6,000-square-foot building in Royal Oak. Crispelli’s Bakery and Pizzeria is leasing the space, which is located at 931 N. Main St. The company plans to use the former veterinary hospital as a French bakery and commissary. Renovations have begun and the restaurant plans to open in March 2015. Kent Butler of Colliers International represented the landlord, Royal Oak Enterprises LLC.
FLAT ROCK, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of River Place Apartments, a 10-unit apartment building in Flack Rock. The property is located at 25814-25824 E. Huron River Drive. The seller, Plaza One Realty Acquisition LLC, sold the building to K & L Property LLC. Rich Deptula and Harrison West of Friedman represented the seller in the transaction.
BOLINGBROOK, ILL. — Renovations are underway on a freezer/cooler project for Eastland Foods in Bolingbrook. Peak Construction Corp. is making improvements to a 4,282-square-foot freezer/cooler space at the company’s Illinois facility located at the Panattoni building. Construction began on Oct. 1. Project enhancements include a new 3,522-square-foot freezer/food storage area and a 760-square-foot cooler storage space. The project is scheduled for completion by the end of the year. Harris Architects and Climate Pros Refrigeration are assisting with the project. Eastland Food imports and distributes food products from Southeast Asia. The company is headquartered in Maryland, but operates other locations in Illinois, Florida and California.
GRANGER, IND. — Marcus & Millichap has arranged the $5.2 million sale of a 14,490-square-foot retail property in Granger, approximately nine miles northeast of South Bend. The property is located at 15005-45 State Road 23. Mark Lewenauer of Marcus & Millichap’s Chicago downtown office secured and represented the buyer, a private investor. Josh Caruana, the firm’s Indiana broker of record, assisted in closing the transaction.