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Midwest

McGee Building
MidwestMissouriMixed-Use

Construction Complete on Loft-Style Mixed-Use Building in Kansas City’s Union Hill District

by John Nelson

KANSAS CITY, MO. — Construction is complete on the McGee Building, a mixed-use loft-style building at 2980 Gillham Road in Kansas City. The property is located in the Union Hill neighborhood, a 16-block district in Kansas City that features entertainment, dining, condominiums, retail, office space, a Fairfield Inn & Suites by Marriott and green space. The building will offer 56 loft-style residential units, as well as 4,325 to 18,000 square feet of retail space. The building is named after Allan B.H. McGee, one of Kansas City’s earliest settlers. The building will feature reclaimed timber furniture from local craftsman Jim Drew, a gallery of rotating art in the first-floor lobby, rainwater cistern and nearly $1.2 million in streetscaping around the building. Units range in price from $850 to $1,510 per month.

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MidwestRetailWisconsin

Marcus & Millichap Brokers $6.2M Sale of Cornerstone Center in Metro Milwaukee

by John Nelson

GLENDALE, WIS. — Marcus & Millichap has brokered the $6.2 million sale of Cornerstone Center, a 13,304-square-foot retail property located at 5595 N. Port Washington Road in Glendale, roughly nine miles west of Milwaukee. Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Oak Brook, Ill.-based office represented the seller, an unnamed limited liability company, in the transaction. Sharko and Weisenbeck also secured and represented the buyer, also an unnamed limited liability company. Matthew Fitzgerald of Marcus & Millichap assisted in closing the transaction.

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4545 W. Burnham St.
IndustrialMidwestWisconsin

NAI MLG Commercial Brokers Sale of 24,000 SF Industrial Building in West Milwaukee

by John Nelson

WEST MILWAUKEE, WIS. — NAI MLG Commercial has brokered the sale of a 24,000-square-foot industrial building located at 4545 W. Burnham St. in West Milwaukee. Samuel Check Family Trust sold the property to Office Service Co. LLP for an undisclosed price. Travis Tiede, Mitchell Starczynski, Adam Matson and Brett Garceau of NAI MLG Commercial brokered the transaction.

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WestLink Business Center
IndustrialKansasMidwest

Cassidy Turley Arranges 50,000 SF in Leases at WestLink Business Center in Metro Kansas City

by John Nelson

SHAWNEE, KAN. — Cassidy Turley has arranged two leases totaling 50,000 square feet at WestLink Business Center in Shawnee, located 10 miles southwest of Kansas City. The 170,000-square-foot industrial building is located at Highway K-7 and 43rd Street. The property is now fully leased following the two lease transactions. Missouri Valley Wildlife Products leased 20,000 square feet of space at 23112 W. 43rd St. for five years, and NWC of Kansas LLC leased 30,000 square feet at 23108 W. 43rd St. for 10 years. Brad Jacobs and Whitney Kerr, Jr. of Cassidy Turley represented the landlord, Airtex Inc., in the lease transactions. Airtex is planning to develop buildings two and three at the site, pending incentives and city approvals. The newly constructed WestLink Business Center was built on a speculative basis and delivered in January. The property features 28-foot clear heights, ESFR sprinkler systems, T5 lighting and dock and drive-in loading options.

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Kenosha
MidwestWisconsin

Cushman & Wakefield Arranges Sale of 200-Acre Farmland for Office, Industrial Development

by John Nelson

KENOSHA, WIS. — Cushman & Wakefield represented Bridge Development Partners in the acquisition and subsequent sale of an approximately 200-acre farmland parcel in Kenosha. Uline, a shipping supply company, purchased the property for an undisclosed amount and plans to develop a new Midwest distribution facility at the site. Located at the interchange of U.S. Highway 142 and I-94, the land will house a 1 million-square-foot warehouse and a 50,000-square-foot office building. As part of the sale agreement with Uline, Bridge Development will complete site infrastructure improvements, including roads, sewer and water. Whit Heitman of Cushman & Wakefield’s Chicago office spearheaded the transactions. Bridge Development also plans to develop an additional 300 acres adjacent to the Uline property. Heitman, Sam Badger and Brad Weiner of Cushman & Wakefield are serving as the exclusive marketing agents on behalf of Bridge Development.

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Calhoun Apartments
MidwestMinnesotaMultifamily

M&M Brokers $2.5M Sale of Apartment Property in Cambridge, Minn.

by John Nelson

CAMBRIDGE, MINN. — Marcus & Millichap has brokered the $2.5 million sale of Calhoun Apartments, a 48-unit apartment property located in Cambridge. Calhoun Apartments is located at 414 Calhoun Place N. and 514 Calhoun Terrace. The 48-unit community consists of two 24-unit buildings that include one- and two-bedroom apartments. Calhoun Apartments was developed in 1978 as part of the USDA Rural Housing 515 Program. In 2009, the property had successfully exited the program and began renting at market rate. Mox Gunderson and Dan Linnell of Marcus & Millichap’s Minneapolis office represented the seller, a limited liability company. Evan Miller of Marcus & Millichap, along with Gunderson and Linnell, represented the buyer, a limited liability company.

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IndustrialMichiganMidwest

LTC Roll & Engineering Buys 153,000 SF Industrial Facility in Marine City, Mich.

by John Nelson

MARINE CITY, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 153,000-square-foot industrial facility in Marine City. LTC Roll & Engineering purchased the property located at 7177 Marine City Highway for an undisclosed sales price. LTC Roll & Engineering is a manufacturer of metallic components and assemblies supplying the automotive, building products and alternative energy market segments. Jason Capitani and Joe DePonio of L. Mason Capitani represented LTC Roll & Engineering in the transaction.

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LoansMidwestMultifamilyOhio

Pillar Originates $11.7M Fannie Mae Loan for Multifamily Property in Columbus

by Danielle Everson

COLUMBUS, OHIO — Pillar has originated an $11.7 million Fannie Mae DUS loan for the acquisition of Citation Club Apartments, a 240-unit multifamily property located at 600 Trinity March in Columbus. The property features two- and three-story garden-style buildings built in 2004. The 15-year, fixed-rate loan includes a 30-year amortization schedule. Adam Klingher, managing director, and Brooke Jackson, associate, of Pillar’s Chicago origination team arranged the loan. Citation Club Apartments is part of a portfolio of three multifamily properties located in Columbus. The property is the only one in the portfolio that required new financing. The sponsor is Brookview Realty Group, an owner/operator of multifamily properties across the country. The key principals at Brookview responsible for the Citation Club Apartments transaction are Barry Pessin and David Ostreicher. Brookview and its affiliates currently own and manage more than 1,300 rental units across the country.

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MidwestOhioRetail

Goodman Real Estate Services Group Brokers $10.5M Sale of Shoppes at Chapel Hill

by Danielle Everson

CUYAHOGA FALLS, OHIO — Goodman Real Estate Services Group LLC has brokered the $10.5 million sale of the Shoppes at Chapel Hill, an 84,758-square-foot shopping center in Cuyahoga Falls. The property, built in 1992, is 98.5 percent leased to tenants such as Michaels, Staples, Panera Bread, Jimmy John’s, Aaron’s and Brick House Tavern + Tap. Target shadow-anchors the shopping center. Kyle Hartung of Goodman represented the undisclosed seller of the property and also procured the buyer, a Florida-based real estate investment and development company.

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