MONROE, MICH. — Sperry Van Ness has arranged the $5 million sale of a 14,820-square-foot Walgreens property in Monroe. The property is net leased to Walgreens, and the remaining lease term is approximately 15 years. Mike Lamb and Dan Stewart of Sperry Van Ness/Stewart Commercial Group LLC represented the seller, a Naples, Fla.-based retail developer. Sean Lutz and Dan Elliot of Sperry Van Ness Chicago Commercial represented the buyer.
Midwest
ST. FRANCIS, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of two industrial buildings totaling 27,550 square feet in St. Francis, a suburb of Milwaukee. The properties are located at 4160 and 4170 S. Nevada Ave. Mathie Nevada Holdings LLC purchased the properties from Nevada Avenue Properties LLC. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Noble of The Dickman Co. were the brokers in the transaction.
CRAWFORDSVILLE, IND. — Lee & Associates has arranged the lease of a 9,800-square-foot retail building in Crawfordsville, approximately 45 miles northwest of Indianapolis. Planet Fitness will occupy space at the property located at 1660 S. Washington St. Bart Jackson and Scot Courtney of Lee & Associates represented the buyer. Sam Cooper of Lamar Cos. represented the seller, Remainder Outlot LLC.
OSWEGO, ILL. — Marcus & Millichap has arranged the $2.9 million sale of a 61,700-square-foot self storage facility in Oswego, a suburb of Chicago. Kendall Point Self Storage is located on 3.9 acres of land at 1960 Wiesbrook Road. The facility includes 13 single-story buildings with 425 non-climate controlled units. Built in 2001, the property has numerous amenities including an on-site manager's office with retail center, security lighting throughout, video surveillance, electronic key card access gate, chain link perimeter fencing and drive-up units with roll-up doors. Sean Delaney of Marcus & Millichap represented the seller, a limited liability company. Delaney also represented the buyer, Sparkplug Capital.
CUDAHY, WIS. — The Dickman Company Inc./CORFAC International has arranged the sale of a 23,000-square-foot industrial building in Cudahy, a city in metro Milwaukee. The property is located at 5171 S. Pennsylvania Ave. DR Investments LLC purchased the building from Joshua Properties LLC for an undisclosed price. Samuel Dickman Jr. and Samuel D. Dickman of The Dickman Company Inc. represented the seller in the transaction. Travis Tiede of NAI MLG Commercial represented the buyer.
ROSEMONT, ILL. — Bradford Allen Realty Services has arranged the lease of an 8,807-square-foot office space in Rosemont. VHT Inc., a full service provider of visual marketing services designed for the real estate industry, will occupy space at 6400 Shafer Court. The firm is relocating from its offices also located in Rosemont. Joel Berger and C.J. Ricardi of Bradford Allen Realty Services represented VHT. Zachary Fox of Transwestern represented the landlord, Crossroads Development, in the transaction.
DELAFIELD, WIS. — The Ryan Companies U.S. Inc. will develop a new, 30,000-square-foot clinic for the Children’s Hospital of Wisconsin. The new facility will be built in Delafield approximately 26 miles west of Milwaukee. Initial improvements to the 5.1-acre site located at 3195 Hillside Drive began in early April. Construction on the two-story building will occur during the summer with a projected opening in late 2014. The new clinic will provide services for asthma/allergy; cardiology; dermatology; ear, nose and throat; gastroenterology; orthopedics and urology specialty care; primary care; imaging, and physical and occupational therapy for children and adolescents. There will also be a lab and pharmacy. Ryan is providing development, design-build construction and real estate management services for the project. Zimmerman Architectural Studios Inc. will serve as the project’s architect. Associated Bank has provided construction financing for the project.
DES MOINES, IOWA — A new loft apartment community in the Western Gateway section of downtown Des Moines is now open. 14Forty, located at 1440 Locust St., welcomed its first residents in April and is now fully leased. Hubbell Realty Co. developed the $8.2 million project. The development is a historic renovation of the Mitchell Transmission Building, the former local branch office of Studebaker Corp. of America, an automobile manufacturer based in South Bend, Ind. 14Forty consists of 37 one- and two-bedroom loft apartments. The lofts range from 530 square feet to more than 1,000 square feet. The units feature original architectural elements, soaring ceilings up to 17 feet high, large windows with views of the Pappajohn Sculpture Park and contemporary design. Hubbell Construction Services renovated the historic building. Hubbell Apartment Living manages the property.
DETROIT — Bernard Financial Group has arranged a $24.5 million, non-recourse CMBS loan to refinance a 23-story office building in Detroit. The building is located at 1001 Woodward Ave. The property has attached parking and ground-floor retail containing 298,517 square feet of net rentable area and 729 parking spaces. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group originated the loan on behalf of the borrower, 1001 Webward LLC. The CMBS lender is a servicing correspondent of Bernard Financial Group. Bedrock Real Estate Services operates the office building.
CHICAGO — Essex Realty Group Inc. has brokered the $2.4 million sale of a 32-unit courtyard apartment building in the Rogers Park neighborhood of Chicago to an undisclosed buyer. The apartment building is located at 7381 N. Damen Ave. The recently renovated apartment building includes individual units, kitchens, bathrooms and common areas. Doug Imber and Kate Varde of Essex represented the undisclosed seller. Jim Darrow and Jordan Gottlieb of Essex represented the buyer in the transaction.