WESTLAKE, OHIO — Marcus & Millichap has arranged the $450,000 sale of a ground lease of a 21,819-square-foot parcel in Westlake. Lehigh Gas Corp. is located at 25466 Detroit Road. The 21,819-square-foot parcel was under a ground lease with the gas station operator. The tenant exercised its right to match an offer from an outside investor so they could have complete ownership and control of the corner location. Dustin Javitch, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap’s Cleveland and Columbus offices represented the seller, a private investor.
NAPERVILLE, ILL. — The Boulder Group has brokered the $2.8 million sale of a single-tenant, Dunkin’ Donuts property in Naperville, a suburb of Chicago. The 3,816-square-foot property is located at 1991 Brookdale Road along Illinois Route 59. There are nine years remaining on Dunkin’ Donuts original 20-year lease, which expires Sept. 30, 2023. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership. An East Coast-based private investor purchased the property in a 1031 tax-deferred exchange.
CHICAGO — The Missner Group and joint-venture partner, Baker Development Corp. have broken ground on a new 25,000-square-foot fitness facility for First Ascent at 3516 N. Spaulding in Chicago. First Ascent is a local, community-focused climbing gym catering to climbers of all levels. The new building, constructed by The Missner Group, will feature climbing, yoga and fitness facilities. The center will also include a café, pro-shop, locker rooms and community spaces. A groundbreaking ceremony for the project was held in October.
MARYSVILLE, OHIO — Marcus & Millichap has brokered the $1.7 million sale of Coventry Place, a 36-unit apartment property in Marysville, approximately 32 miles northwest of Columbus. The property is located at 1024 Coventry Place and includes two-bedroom garden units. Michael Barron, Joshua Wintermute, Dan Burkons, Richard Lattro and Jordan Marshall of Marcus & Millichap’s Columbus office, along with the firm’s tax credit group out of Seattle, represented the seller, a partnership, and the buyer, also a partnership.
ST. ANN, MO. — Cushman & Wakefield | Gateway Commercial has arranged the lease of a 10,481-square-foot industrial building in St. Ann, approximately 16 miles northwest of St. Louis. Customer Direct LLC will occupy space at 500 Northwest Plaza Drive. Jim Loft of Cushman & Wakefield | Gateway Commercial represented Customer Direct LLC in the lease. Balke Brown of Transwestern represented the landlord, Gadwall LLC.
KANSAS CITY, MO. — CBRE has brokered the sale of Plaza Vista, a recently completed Class A office and retail building in Kansas City’s Country Club Plaza, for an undisclosed price. The 10-story, office tower contains 253,720 square feet, including retail space on the first two floors and a six-level parking garage. The property is 98.6 percent leased CBRE’s Gary Carr, Gina Anderson, Russell Ingrum and Robert Hill arranged the transaction on behalf of the seller, VanTrust Real Estate LLC. Denver-based EverWest Real Estate Partners LLC, along with joint venture partner Independencia Asset Management, acquired the asset. Located five miles south of Kansas City’s CBD, Country Club Plaza is a landmark commercial district amid Kansas City’s office, retail, restaurant, hotel and high-rise residential properties.
BRAZIL, IND. — Cassidy Turley has arranged the $8.2 million sale of Forest Park Plaza shopping center in Brazil, approximately 60 miles southwest of Indianapolis. Forest Park Master LLC Tenants In Common (TIC) sold the property to Whitehouse, Ohio-based Devonshire REIT Inc. The 104,248-square-foot shopping center is located at 825 E. National Ave. and U.S. Highway 40. Jacque Haynes of Cassidy Turley represented the seller. Kroger anchors the shopping center. The plaza is 96 percent occupied by tenants such as Dollar General, Dollar Tree, Carquest Auto Parts, RadioShack, Family Video and Papa John’s Pizza.
DETROIT — Capital One Multifamily Finance has provided a $7.3 million fixed-rate, HUD 232/223(f) loan to refinance a 176-bed skilled nursing facility in Detroit. Joshua Rosen of Capital One originated the loan, which includes a 35-year term. Rosen leads Capital One’s agency healthcare lending from the company’s Chicago office. This is the second HUD-insured project that the borrowers, specialists in skilled nursing facilities, have closed with Capital One. The property consists of 90 one-, two-, and three-bed units, and the investors have undertaken a comprehensive renovation program since they acquired it in 2010.
TERRE HAUTE, IND. — Paramount Lodging Advisors has arranged the sale of Clarion Inn & Suites and Super 8 in Terre Haute. The 142-room Clarion Inn & Suites is located at 3053 S. U.S. Highway 41, and the adjacent 117-room Super 8 located at 3089 S. 1st St. PLA was engaged by the court appointed receiver as the exclusive representative in the sale of the Clarion Inn & Suites. Bennett Webster and Brent Clemens of PLA led the marketing efforts. In the second transaction, PLA’s Clemens and Webster exclusively represented Supertel Hospitality in the sale of the Super 8.
CHICAGO — Marcus & Millichap has brokered the $8.1 million sale of a five-story, 40,000-square foot, timber loft office property in the River North neighborhood of Chicago. The Class-B property is located at 153-157 W. Ohio St. near the intersection of LaSalle Street and Ohio Street. Stephen Lieberman of Marcus & Millichap’s Chicago Downtown office represented the undisclosed seller. A New Jersey-based private investor purchased the property.