CHICAGO — Marcus & Millichap has brokered the $2.8 million sale of 1455 W. Hubbard St., a loft office property in Chicago. The two-story, 24,000-square-foot office building is located in the West Town neighborhood of Chicago. The property includes 16 parking spaces on the west side of the building. Stephen Lieberman of Marcus & Millichap’s Chicago downtown office represented the undisclosed seller. A private investment group purchased the building.
COLUMBUS — Foresite Realty Partners, through its affiliate Foresite Realty OH LLC, has arranged the sale of Chesapeake Mill Apartments in Columbus for an undisclosed sales price. The apartment property is situated on nearly 15 acres and includes 260 units. The community has a mix of one-, two- and three-bedroom units across 31 buildings and was 92 percent occupied at the time of sale. Jamie Hadac, Bryan Nickow and Jo Lease of Foresite Realty OH represented the undisclosed seller. An Ohio-based investor purchased the property.
MILWAUKEE — Mid-America Real Estate Corp. has brokered the sale of Point Loomis Shopping Center in Milwaukee. Cincinnati-based Phillips Edison purchased the 160,533-square-foot shopping center for an undisclosed sales price. Point Loomis Shopping Center is located at the southwest corner of 27th St. and Loomis Road. Tenants at the property include Kohl’s, Pick ‘n Save and Chase Bank. Ben Wineman and Joe Girardi of Mid-America Real Estate Corp. along with Dan Rosenfeld of Mid-America Real Estate – Wisconsin LLC represented the buyer, Phillips Edison.
TOLEDO, OHIO — Marcus & Millichap has brokered the $3.9 million sale of Rite Aid, a 11,180-square-foot, net-leased property in Toledo. The property is located at 1605 Broadway St. The property was sold above its list price. Mark Lovering and Dan Yozwiak of Marcus & Millichap’s Columbus office represented the seller, a partnership, and the buyer, a REIT.
ST. LOUIS — Phillips Edison-ARC Grocery Center REIT II Inc. has acquired Southfield Center, a 109,397-square-foot shopping center in St. Louis, for $18.9 million. The REIT acquired the property from Fortune Southfield Co., a Missouri-based limited liability company. Southfield Shopping Center is fully leased to 19 tenants. A Schnucks grocery store anchors the shopping center. Other tenants at the center include Edward Jones, Jefferson Bank and Trust, Great Clips and FedEx Office.
CHICAGO — Baum Realty Group LLC has arranged a 3,000-square-foot lease for DryHop Brewers in Chicago. The property is located at 3446 N. Southport Ave., between Newport Ave. and Cornelia Ave. The new brewery will be called Corridor Brewery & Provisions and is scheduled to open summer 2015. Will Crowden and Allen Joffe of Baum Realty Group arranged the lease on behalf of DryHop.
TOLEDO, OHIO — Reichle Klein Group has arranged the $3.4 million sale of a 695-unit, self-storage facility in Toledo. Around Town Storage is situated on nearly eight acres. The property is located at 1011 and 1028 S. Holland Sylvania Road. Joe Belinske of Reichel Klein Group represented the seller, Around Town Storage. Farmington Hills, Mich.-based Pogoda Cos. represented the buyer, BF Self Storage.
ANKENY AND GRIMES, IOWA — NorthMarq Capital’s Omaha office has secured refinancing of two multifamily properties located in Iowa totaling a combined $10.8 million. The properties include Tradition Pointe, a 72-unit apartment property located at 1103 S.W. 28th St. in Ankeny and Reserve at Glenstone, a 54-unit apartment property located at 3300 SE Glenstone Drive in Grimes. Jason Kinnison of NorthMarq arranged the 10-year loans with a 30-year amortization schedules. NorthMarq arranged financing for the borrowers, Tradition Pointe LLC and Glenstone Apartments LLC, through its seller/servicer relationship with Freddie Mac.
CLEVELAND — Cooper Commercial Investment Group has arranged the $5.3 million sale of a Walgreens located at 4071 Lee Road in Cleveland. Bob Havasi and Dan Cooper of Cooper Commercial Investment Group in Cleveland represented the seller, a privately owned investment group out of New York. A Florida-based private investor purchased the property. The building was sold at 94 percent of its original list price, representing a 6.9 percent capitalization rate. Walgreens is on a 20-year, corporately guaranteed, triple-net-lease with approximately seven years of original term remaining. The freestanding building was built in 2002.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has arranged the lease of a 17,925-square-foot industrial space at 12752 Stark Road in Livonia. The landlord, 12752 Stark LLC, leased the space to Elsie Inc. Phil Konopitski of Friedman represented both the tenant and the landlord in the transaction.
