ROSEMONT, ILL. — Transwestern has arranged the office lease renewal/expansion for Wynnchurch Capital, a leading private equity firm. Wynnchurch renewed its existing 8,060-square-foot lease and expanded into an additional 5,530 square feet. The company’s 13,590-square-foot headquarters is at One O’Hare Centre, located at 6250 N. River Road. The property is LEED Gold-certified. Tony Karmin of Transwestern’s tenant advisory group represented Wynnchurch in the 11-year lease. Francis Prock and Jonathon Connor of Colliers International represented the building owner, CBRE Global Investors.
Midwest
MONROE, MICH. — Reichle Klein Group has brokered the $1.3 million sale of an 18,568-square-foot property in Monroe to an undisclosed buyer. The former Lincoln Mercury auto dealership is situated on a nearly five-acre site located at 15354 S. Dixie Highway. Duke Wheeler and Kurt Pollex of Reichle Klein Group represented the seller, Sarah Property LLC of Redford, Mich.
WAUWATOSA, WIS. — Colliers International has arranged the lease of a 13,440-square-foot retail building in Wauwatosa, a suburb of Milwaukee. La Z Boy will occupy space located at 10830 W. Burleigh St. The location will serve as a retail store for the furniture company. Brent Beshears of Colliers International represented the tenant La Z Boy Inc. in the transaction.
CHICAGO — USAA Real Estate Co., in partnership with Chicago-based Golub & Co., an international real estate investment and development firm, has acquired Chestnut Place, a 30-story residential building located at 850 N. State Street in Chicago. Crain’s Chicago Business reports the purchase price was $80.5 million. Built in 1980, Chestnut Place consists of 280 convertible, one-bedroom and two-bedroom apartments with an average unit size of 769 square feet. Current amenities include a fitness center and 24-hour doorman. The building also includes a 196-space, four-story parking garage and 6,500 square feet of ground-floor retail space. Michael Goldman and Collin McKenna of Golub, and David Reahl of USAA, negotiated the acquisition. CBRE represented the seller, Chestnut Place Associates.
BURNSVILLE, MINN. — Marcus & Millichap has arranged the $11.5 million sale of a 14,490-square-foot Walgreens drugstore in Burnsville, a suburb approximately 20 miles south of downtown Minneapolis. The sale equates to $794 per square foot. The Walgreens is located at 950 County Road 42 W. The property is an outparcel to a Super Target-anchored retail center and a newly constructed Costco. Walgreens is operating this property under a corporate-guaranteed 75-year absolute net lease that has 21 years remaining. The store moved to its current location in 2009. Sean Doyle of Marcus & Millichap’s Minneapolis office represented the undisclosed seller. Brandon Hanna of the firm’s Detroit office represented the buyer, a Florida-based private investor.
GLENVIEW, ILL. — HFF has arranged financing for ALOFT at The Glen Town Center, a 181-unit, Class A apartments in Glenview, a suburb 22 miles north of Chicago. HFF worked exclusively on behalf of the borrower, San Diego-based OliverMcMillan Inc., to secure a long-term, fixed-rate loan through TIAA-CREF. HFF will also service the loan. ALOFT at The Glen Town Center is located at 1991 Tower Drive within The Glen Town Center master-planned community. Situated on 1,121 acres, the community was built on the site of the former Glenview Naval Air Station and its historic Hanger One. Completed in 2003, ALOFT at The Glen Town Center features one- and two-bedroom floor plans. Rents start at $1,795 for a one-bedroom and range to $4,010 for a two-bedroom. Community amenities include two fitness centers, two theater rooms, community center, business center and indoor heated parking. Trey Morsbach, Jeremy Sain and Jason Bond of HFF led the debt placement team representing the borrower.
ST. LOUIS, MO. — McGrath & Associates recently completed construction of a $1 million retail building at Lindbergh Commons in South St. Louis County. Starbucks and Sleep Number are the tenants of the 4,300-square-foot building located at Lindbergh Boulevard. and Lemay Ferry Road. Irving Sherman Trust developed the property. Dawdy & Associates was the architect. The project was completed on schedule in May, despite a winter of extremely harsh weather. The Starbucks store at Lindbergh Commons is one of just a few in the country that opened by its original schedule despite the challenging winter conditions. McGrath previously built an adjacent 7,000-square-foot building at Lindbergh Commons. Tenants include Maytag, AT&T and Imo’s Pizza.
BLOOMINGTON, MINN. — Dougherty Mortgage LLC has arranged an $11.4 million HUD 213 loan for the construction of Applewood Pointe Cooperative of Bloomington at Valley West, a 77-unit senior cooperative project located in Bloomington. United Properties is the developer of the project. Dougherty’s Minneapolis office arranged the 40-year loan. The cooperative site is located near a variety of shopping, dining and recreational opportunities. This is the fourth cooperative construction loan financed by Dougherty Mortgage for United Properties.
SEVILLE, OHIO — Global Healthcare REIT Inc., a Utah corporation, has agreed to acquire the Meadowview Nursing Home in Seville, approximately 40 miles south of Cleveland, for $3 million. The 27,500-square-foot facility, situated on five acres, is licensed for 100 skilled nursing beds. The purchase agreement is subject to satisfactory completion of a 45-day inspection period and other conditions. Global will need to secure financing to cover a portion of the purchase price. The closing is scheduled to occur on Sept. 30. Global intends to lease the facility to a unaffiliated third-party operator. The Meadowview acquisition increases Global’s portfolio to five properties. The company expects to acquire several additional properties this quarter.
WESTLAND, MICH. — Bernard Financial Group has arranged a $2.8 million loan to refinance the Bayview Market Place Center, a 21,024-square-foot shopping center in Westland, located approximately 20 miles west of Detroit. The complex consists of two buildings situated on nearly one acre. Dave Dismondy of Bernard Financial Group arranged the loan for the borrower, Westland Associates Partners LLC, with a CMBS lender.