BLOOMINGTON, MINN. — Marcus & Millichap has brokered the $4 million sale of a 100,681-square-foot office property in Bloomington, Minn., located approximately 11 miles south of Minneapolis. Two Appletree Square is located at 8031 34th Avenue. The property is near the Minneapolis-St. Paul International Airport, Mall of America and a light rail station. Michael Ahles and Jon Ruzicka of Marcus & Millichap’s Minneapolis office represented the seller, a financial institution, and the buyer, a partnership.
Midwest
PEWAUKEE, WIS. — The Dickman Co. Inc. has arranged the lease of 15,100 square feet of industrial space in Pewaukee, a western suburb of Milwaukee. Ellison Technologies, a provider of advanced machining solutions to metal-cutting manufacturers,will occupy space located at N29 W23825 Woodgate Court. Samuel M. Dickman Jr., Samuel D. Dickman and Anthony Huenerbein of The Dickman Co. represented the landlord, Points West LLC, in the transaction. Jeff Hoffman of Judson & Associates represented the tenant.
TOLEDO, OHIO — The Cooper Commercial Investment Group has brokered the $1.8 million sale of the Shoppes at Glendale, a 10,050-square-foot retail center in Toledo. The property, built in 2005, is shadow anchored by a Wal-Mart Supercenter. The center is fully occupied with all triple-net leases in place. The retail center sits directly in front of The University of Toledo Medical Center and Medical College and directly across from several national retailers including Panera Bread, Aldi, Ruby Tuesday, Bob Evans Restaurant, Payless ShoeSource, Tan Pro USA and Sally Beauty Supply. Dan Cooper of the Cooper Commercial Investment Group represented the seller, an Ohio-based private investment group. A Connecticut-based a private investor purchased the property. The property was sold at a 7.79 percent capitalization rate.
OAK BROOK, ILL. — NAI Hiffman has arranged more than 55,000 square feet of office lease renewals and expansions at Regency Towers, two multi-story, Class A office buildings joined by a one-story retail concourse. The property is located at 1415-1515 W. 22nd Street in Oak Brook, approximately 19 miles west of Chicago. The leases were for Bancorp Financial Inc., Rasmussen College, John Wiley & Sons Inc., and Moet Hennessy USA. Patrick Kiefer of NAI Hiffman represented American Realty Advisors in all four transactions. On-site amenities at Regency Towers include an attached, three-level covered parking garage, conference center, newly renovated fitness center, full-service bank, sundry store and an Italian restaurant and deli. Available suites range in size from 1,092 to 17,289 square feet.
FRIDLEY, MINN. — Cushman & Wakefield | NorthMarq has brokered the sale of a 32,000-square-foot bowling alley in Fridley. The former AMF Bowling Center is located at 6310 Highway 65, approximately nine miles north of Minneapolis. Scott Beitz purchased the property for an undisclosed price. Banquets of Minnesota will renovate the building to serve as an event center, which will offer full-service catering and event planning for any occasion. The sale of a small parcel of land, which will be utilized for overflow parking at the new facility, was completed as a separate transaction. Deb Carlson of Cushman & Wakefield | NorthMarq represented AMF Bowling Centers in the sale of the building and Sinclair Oil Corp. in the sale of the land.
SOUTH BARRINGTON, ILL. — The LaSalle Group will open a 29,000-square-foot freestanding memory care community in the village of South Barrington, approximately 35 miles northwest of the Chicago Loop. Autumn Leaves of South Barrington located at the northeast corner of Higgins and Bartlett Road, will open in July. The $11.1 million memory care community will provide specialized care to nearly 50 residents living with Alzheimer’s, dementia or memory impairment. The LaSalle Group has nine communities open or under construction in the suburbs of Chicago. Autumn Leaves of South Barrington is approximately one mile from the Arboretum of South Barrington shopping mall and five miles from St. Alexius Medical Center. The new community will offer free programs to the public including seminars,speakers, monthly Alzheimer’ssupport groups and respite care. Volunteer opportunities for the community will also be available.
SOUTHFIELD, MICH. — Signature Associates has arranged the lease of 16,320 square feet of industrial space in Auburn Hills, six miles west of Rochester Hills. The property is located at 2670 Auburn Court. Kris Pawlowski and Gary Stephens of Signature Associates represented the landlord, Gold Star Development LLC. Pawlowski represented the tenant, Fenkell Automotive Services Ltd.
CINCINNATI — Mascia Development has acquired a three-building medical office portfolio in Ohio and Kentucky for more than $6.7 million. The New York-based real estate firm purchased Mercy Health’s Cincinnati Sports Medicine & Orthopaedic Center office building portfolio. Properties in the portfolio include a 16,283-square-foot building located at 10633 Montgomery Road in Cincinnati; a 7,793-square-foot property located at 12115 Sheraton Lane in Springdale, Ohio; and a 5,670-square-foot building located at 328 Thomas More Parkway in Crestview Hills in northern Kentucky. Mascia Development will lease back the purchased medical office spaces to Mercy Health.
OWOSSO, MICH. — Block & Co. has arranged the $3.3 million sale of a 62,379-square-foot retail center in Owosso, approximately 25 miles west of Flint, to an undisclosed buyer. The Walmart shadow-anchored center is located at 1561-1695 E. Main St. David Block and Max DiCarlo of Block & Co. represented the seller, a partnership between Bloomfield 2005 LLC and Metcalf Arlington SPE LLC. Block & Co. recently sold two other retail centers located in Huntington, Ind., and Jacksonville, Ill., on behalf of the partnership. The real estate firm is currently listing 10 other Walmart shadow-anchored centers for sale in six states throughout the Midwest for the partnership.
ROCKWOOD, MICH. — Colliers International has brokered the sale of a 10,076-square-foot freezer/cooler industrial building located at 31607 Gossett Drive in Rockwood, approximately 25 miles south of Detroit. Kezu Cold Storage LLC purchased the building for an undisclosed price from Instant Whip. Kezu Cold Storage will use the building as a distribution hub to serve southeast Michigan. John Lominack and Jim Roberts of Colliers International represented the seller, Instant Whip. Peter E. Kepic, Peter J. Kepic and Ryan Brittain of Colliers International represented the buyer.