DETROIT — Bernard Financial Group has arranged a $25 million CMBS loan to refinace One Woodward, a 29-story office property in Detroit. The 358,888-square-foot, Yamasaki-designed building is located on Woodward Avenue and includes underground parking. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group arranged the loan for the borrower, One Webward Avenue LLC.
INDIANAPOLIS — Marcus & Millichap has arranged the $13.9 million sale of Brighton Park Apartments, a 336-unit apartment property in Indianapolis. The property is located at 8002 Harcourt Road. David Gaines and Alex Blagojevich of Marcus & Millichap’s Chicago downtown office represented the seller, a private investor. Josh Caruana, the firm’s Indiana broker of record, assisted in closing of the transaction.
HARRISON TOWNSHIP, MICH. — L. Mason Capitani CORFAC International has arranged the lease of a 42,515-square-foot, free‐standing industrial building in Harrison Township. The property is located at 25551 Joy Blvd. Aristo‐Cote Inc. is expanding into this new facility, which will increase their company’s square footage to more than 150,000 square feet. Aristo‐Cote specializes in custom coatings for material handling and packaging solutions. Jason Capitani and Joe DePonio of L. Mason Capitani CORFAC International represented the tenant and landlord in the transaction.
CHICAGO — Interra Realty has brokered the $1.5 million sale of a 21-unit, apartment property in Chicago’s Rogers Park neighborhood. The building, built in 1960, is located at 6715-21 N. Hermitage Ave. and includes one-bedroom units. James Clough and Joe Smazal of Interra represented both the undisclosed buyer and the seller.
COLUMBUS — Marcus & Millichap has arranged the sale of Whispering Pines, a 376-unit apartment community in Columbus. Whispering Pines is located at E. Dublin-Granville Road between I-71 and I-270. The community features townhomes and one-, two- and three-bedroom floor plans. Amenities at the property include a clubhouse, community room, fitness center, laundry facility, swimming pool, tennis courts and picnic area. Michael Barron, Daniel Burkons and Joshua Wintermute of Marcus & Millichap’s Cleveland office, along with Richard Lattro and Jordan Marshall of the firm’s Columbus office, represented the seller, a Philadelphia-based limited liability company. Barron, Burkons and Wintermute also secured the buyer, an out-of-state private investment group.
DOWNERS GROVE, ILL. — J.C. Anderson Inc. will complete a 30,000-square-foot office renovation for CompuSystems Inc. (CSI) in Downers Grove, an eastern suburb of Chicago. The property is located at 2655 Warrenville Road (Corridors II). The build-out at Corridors II will serve as the new headquarters for CSI, a major registration service provider for the convention trade show industry. The new space will include the addition of private offices, conference rooms, workstations, break rooms, training rooms as well as open work areas. Construction is scheduled for completion in December. The firm, previously located at 2805 S. 25th Ave. in Broadview, was founded in 1976 and employs approximately 200 people. Dawn Newman of Newman Architecture is providing the architectural services and Syska Hennessy Group is providing engineering services for the project. Jason Hawkins, Greg Garland and Bill Dennison led the J.C. Anderson construction team.
NAPERVILLE, ILL. — Morgan/Harbour has completed a 16,256-square-foot office build-out for Thatcher Technology Group in Naperville. The property is located at 55 Shuman Blvd. Founded in 1999, Thatcher Technology Group is a provider of sales performance management software to the direct selling industry. The firm has relocated to this new property from another Naperville location. The office build-out included the construction of private offices, conference rooms, a copy room and large break room. Clay Scheller, John Becker and Kieran Towe led Morgan/Harbour’s construction team. The DePalma Group provided architectural services for the project.
STERLING HEIGHTS, MICH. — L. Mason Capitani CORFAC International has arranged an 18,495-square-foot industrial lease in Sterling Heights, eight miles east of Troy. ASRC Federal has leased the facility, which is located at 35645 Stanley Drive. The company provides mission‐critical services to federal government agencies dedicated to defense, civil and intelligence support. Jason Capitani of L. Mason Capitani represented the undisclosed landlord in the transaction.
WEBSTER GROVES, MO. — Colliers International has arranged the $22.8 million sale of a single-tenant, triple-net-leased office property in Webster Groves, 11 miles southwest of St. Louis. The 90,000-square-foot research and development facility is located within the Owen Ridge Business Park at 381-385 Marshall Ave. Steve Tharpe, Gwen Knight and Spencer Toder of Colliers International represented the seller, Owen Ridge Associates LLC. The Kase Group, an affiliate of Sperry Van Ness based in northern California, represented the buyer, New York-based American Realty Capital.
CHICAGO — Cohen Financial has secured $9.5 million in debt financing for the acquisition of a 37,415-square-foot retail condominium building in Chicago. The property is located at 2000-2056 Lincoln Park West and is fully leased to tenants including R.J. Grunts, a Lettuce Entertain You restaurant, PNC Bank and Starbucks. Dan Rosenberg of Cohen Financial’s Chicago office secured the $9.5 million acquisition loan with American Realty Capital, a full-service investment management firm. The borrower is LM Advisors, a San Diego- based affiliate of LM Capital Group, an investment management firm.
