MT. VERNON, ILL. — A new 32,022-square-foot Big Lots department store has opened at the Times Square Mall shopping center in Mt. Vernon, 80 miles east of St. Louis. The Sansone Group and Pine Tree Commercial Realty LLC own the 269,328-square-foot shopping center in partnership with Elgin, Ill.-based Wanxiang America Real Estate Group. Times Square Mall is located on the southeast corner of Broadway Street (State Route 15) and 42nd St. JC Penney, Dunham Sports and Peebles anchor the center. Other tenants at the center include rue21, Ross Dress for Less, GNC, Maurices, Claire’s, Bath & Body Works, Glik’s, Shoe Sensation, Subway and Wendy’s.
Midwest
MONONA, WIS. — Dougherty Funding LLC has arranged an $18.5 million new construction loan for Treysta on the Water Apartments. The 124-unit apartment complex is located on the Yahara River in Monona, an eastern suburb of Madison. Dougherty Funding arranged the loan for Treysta Holdings LLC. The mixed-use property will include apartments with one-, two- and three-bedroom units, a restaurant and commercial space.
MINNEAPOLIS — Marcus & Millichap has brokered the $1.4 million sale of Fresenius Medical Care Dialysis Clinic, a 7,990-square-foot, net-leased property in Minneapolis. The facility, located at 4310 Nicollet Ave., is situated on nearly a half acre. Gino Lollio and Scott Niedergang of Marcus & Millichap’s Chicago downtown office represented the seller, an individual/personal trust. Brian Munn and James Rea of Marcus & Millichap’s Atlanta office represented the buyer, a private investor. Dan Linnell of Marcus & Millichap’s Minneapolis office assisted in closing the transaction.
HARWOOD HEIGHTS, ILL. — Xcel Med LLC has acquired a 60,000-square-foot office building in Harwood Heights, approximately 12 miles northwest of Chicago, for an undisclosed price. The medical coding and billing company will use the building as its headquarters. The property is located at 7444 W. Wilson Ave. John Joyce, Ryan Phillips and Chris Rickett of Transwestern represented the seller, Bluebird Harwood Heights LLC, in the transaction. Eric Tresslar of NAI Hiffman represented the buyer, Harwood Heights. This was the final sale in a three-property portfolio disposition completed by the Transwestern team. The portfolio consisted of approximately 91,492 square feet on approximately 4.2 acres.
FREMONT, OHIO — Marcus & Millichap has brokered the $1.8 million sale of Clarion Inn and Conference Center, a 157-room hospitality property located in Fremont, approximately 40 miles southeast of Toledo. The hotel is located at 3422 Port Clinton Road. The hotel sits alongside I-80/I-90, just two miles from downtown Fremont. Nearby attractions include the Fremont Speedway, the Sandusky County Fairgrounds and the Rutherford B. Hayes Presidential Center, which are all less than five miles from the hotel. Scott Brash of Marcus & Millichap’s Chicago downtown office represented the seller, a bank/financial institution. Lili Gewargis and Justin Westad of Marcus & Millichap’s Chicago downtown office represented the buyer, an Ohio-based private investor. Michael Glass of Marcus & Millichap’s Ohio office assisted in closing the transaction.
CHICAGO — NelsonHill has arranged the $1.2 million sale of a 21,000-square-foot industrial building in Chicago. The heavy timber loft building is located at 1845 W. Hubbard St. The building features 12-foot clear heights and 7,000 square feet per floor. Mark Nelson and Michael Nelson of NelsonHill represented the seller, Mufid Saleh. Robert Woods of Spectrum represented the buyer, Busy Bee Promotions, a marketing and advertising firm. Busy Bee Promotions is relocating from another building in the neighborhood where it was leasing.
FARMINGTON HILLS, MICH. — Colliers International has brokered the sale of a 25,444-square-foot light industrial facility in Farmington Hills, 23 miles northwest of Detroit. The property is located at 24470 Indoplex Circle. Gary Glotzhober of Colliers International represented the buyer, Efficient Office Solutions, and the seller, Floor Source, which used the space as a showroom and warehouse facility for the distribution of floor covering products. Upon renovation, Efficient Office Solutions will use the warehouse to store refurbished office furniture, and will use the showroom to display its products.
AURORA, ILL. — Simon Property Group has broken ground on a 50-store expansion of Chicago Premium Outlets in Aurora. The multi-million dollar project will expand the outlet center by almost two-thirds for a future total of more than 170 stores. Among the new retailers slated to open in late spring 2015 will be Saks Fifth Avenue Off 5th, which will join the center’s current list of designer and name brands, including Adidas, Coach, Gap Outlet, Kate Spade New York, Levi's, Michael Kors, Polo Ralph Lauren, Theory, Vera Bradley and more. Expansion plans include the addition of fire pits, art installations, a pond, and the addition of approximately 1,900 parking spaces. The new stores will occupy 45 acres on a vacant industrial site just east of the current Chicago Premium Outlets at Farnsworth Avenue and Bilter Road. The project also calls for renovation of the existing center, including enhanced landscaping and newly paved sidewalks, upgraded seating and lounge areas, improved lighting, a fresh new paint color scheme and updates to the center's food offerings.
TOPEKA, KAN. — Mid-America Real Estate Corp.’s investment sales team brokered the $18 million sale of Wanamaker Shopping Center in Topeka, Kan. Fort Wayne, Ind.-based Equity Investment Group Inc. purchased the regional shopping center. Wanamaker Shopping Center is located at the southeast corner of Wanamaker Road and 17th Street in Topeka, Kan. Big Kmart, Hobby Lobby and Bed Bath & Beyond anchor the 269,875-square-foot center. Joe Girardi of Mid-America Real Estate Corp. in cooperation with Eric Gonsher of The R.H. Johnson Co. represented the seller, Kansas City, Mo.-based Eighteen Capital Group in the transaction.
GURNEE, ILL. — The LaSalle Group will begin construction later this month on Autumn Leaves of Gurnee, an $11.3 million memory care community in Gurnee, a northern suburb of Chicago.The 29,000-square-foot facility, scheduled to open in 2015, will provide specialized care to nearly 46 residents living with Alzheimer’s, dementia, and memory impairment. The community will also offer respite care. The property is located at 505 N. Hunt Club Road, approximately two miles from Gurnee Mills Mall and Six Flags Great America and about three miles from the United Hospital System Gurnee Physician Clinic. Autumn Leaves of Gurnee is the result of a partnership between The LaSalle Group, MedProperties and TCF National Bank. The community will provide some free services for families in the area including educational seminars and Alzheimer’s support groups.