KANSAS CITY — NorthMarq Capital has arranged the $201.5 million refinancing of a 10-property portfolio. The properties include a mix of multifamily, unanchored retail and suburban offices in the Kansas City and Dallas metro areas. The portfolio consists of 2,190 multifamily units, 53,143 square feet of office space and 23,027 square feet of retail space. Greg Duvall of NorthMarq Capital’s Kansas City office structured the 25-year loan with a 25-year amortization schedule. Duvall arranged the loan for the undisclosed borrower through NorthMarq’s correspondent relationship with Allianz Life Insurance Co. of North America.
Midwest
INDIANAPOLIS — Mainstreet and Heritage Enterprises will open a 65,602-square-foot, 100-bed assisted living facility in Indianapolis. Evergreen Crossing & The Lofts is set to open Oct. 1. The $13.2 million facility, located at 5404 Georgetown Road, will provide transitional care (short-stay rehabilitation and therapy) services. The facility will feature a movie theatre, game room, walking trails, as well as restaurants and an on-site chef. Construction on the project began in September 2013. Indiana-based Mainstreet developed and owns the property. Illinois-based Heritage Enterprises will operate the facility. The development is the first project between Mainstreet and Heritage Enterprises.
COLUMBUS — CASTO has completed redevelopment of an hhgregg store in northwest Columbus. Located on Sawmill Road just north of I-161/Dublin-Granville Road, the 36,851-square-foot store is adjacent to a new REI store projected to open this November. The redesigned hhgregg store opened to the public on Thursday, Sept. 18. Indianapolis-based hhgregg is an appliance retailer with 228 stores in 20 states. CASTO is a fully integrated real estate firm that specializes in the ownership, management, acquisition and development of commercial shopping centers and multi-family residences, office buildings and corporate parks.
JEFFERSON CITY, MO. — Paramount Lodging Advisors (PLA) has arranged the sale of a 70-room Holiday Inn Express in Jefferson City. A local investor purchased the property, located at 1716 Jefferson St., for an undisclosed price. The new owner will rebrand the hotel. Adam Montufar, Bennett Webster and Brent Clemens of PLA represented the seller, LNR Partners. The team completed the transaction via Auction.com.
WARREN, MICH. —Colliers International has arranged the retail lease of 2,006 square-feet in Warren. Firehouse Subs will occupy space at 32900 Dequindre Road. Barry Landau of Colliers International represented the landlord, Universal Mall Properties LLC. Landau has represented the landlord in much of its retail space leasing. Firehouse Subs is expanding throughout the metro Detroit area. This location joins 17 others throughout the state.
OTSEGO, MINN. — Duke Realty has arranged a long-term lease with Blu Dot for the development of a 150,064-square-foot, build-to-suit bulk warehouse in Otsego. The designer and distributor of modern home furnishings will occupy space on nearly eight acres in the Gateway North Business Center. Neil Kolatkar and Dan Swartz of CBRE represented Blu Dot in the transaction. Josh Budish of Duke Realty’s Minneapolis-St. Paul office represented the firm.
DOVER, OHIO — Landmark Commercial Real Estate Services Inc. has arranged the sale of the Heritage Square Shopping Center in Dover. A Florida-based private investment fund purchased the 181,732-square-foot property for an undisclosed price. Giant Eagle anchors the shopping center. Kevin Baker, Daniel Dukes and Scott Lander of Landmark represented the seller, Phillips Edison & Co. Fund III.
NEOGA, ILL. — Marcus & Millichap has brokered the $1 million sale of a 9,014-square-foot Dollar General store in Neoga, a city in central Illinois. The net-leased property is located at 1050 U.S. Route 45. The building is a 2011 construction, build-to-suit for Dollar General. Gino Lollio of Marcus & Millichap’s Chicago Downtown office represented the seller, a private investor. The buyer was undisclosed.
MILWAUKEE — The Dickman Company, Inc./CORFAC International has arranged the sale of an 8,186-square-foot industrial building in Milwaukee. The property is located at 1036-1038 W. National Ave. Palko Energies LLC purchased the building from the city of Milwaukee. Zach Noble of the Dickman Co. represented the seller and the buyer in the transaction.
CHICAGO — Marcus & Millichap has arranged the $16.5 million sale of a 16,047-square-foot Walgreens drugstore in Chicago’s Andersonville neighborhood. The sales price equates to $1,033 per square foot. The drugstore is located across the street from grocer Jewel-Osco at 5440 N. Clark St. The property underwent an extensive rebuild and retrofit to maintain its historic look. Walgreens signed an absolute-net, 75-year lease on the property in 2011. Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Chicago Oak Brook office represented the seller, an overseas partnership. Jamie Medress and Mark Ruble of the firm’s Phoenix office represented the undisclosed buyer.