LIVONIA, MICH. — First Industrial Realty Trust has sold 32432 Capitol Street, a 203,100-square-foot industrial warehouse and distribution facility in Livonia, located about 20 miles west of Detroit. The Promanas Group, a commercial real estate investment and management company, purchased the property. James Carpenter and Michael Tenteris of Cushman & Wakefield represented the seller in the transaction. Classic Container Corp., a subsidiary of Pratt Industries, fully occupies the property.
Midwest
PALATINE, ILL. — Marcus & Millichap has arranged the $1.1 million sale of Countryside Office Park, a 93,648-square-foot office property located in Palatine, a northwest suburb of Chicago. John Abuja, Rich Merryman and Bill Schofield in Marcus & Millichap’s Chicago offices, marketed the property on behalf of the seller. Countryside Office Park is located at 1210-1278 W. Northwest Highway and is 74 percent occupied. The property includes 465 parking spaces.
SCHAUMBURG, ILL. — Morgan / Harbour Construction has completed an 11,000-square-foot office renovation for Crestron Electronics at 935 National Parkway in Schaumburg, a northwest suburb of Chicago. Crestron Electronics relocated its Midwest regional offices to Schaumburg from Arlington Heights. The build-out includes a new custom-built reception desk, two training rooms, multiple private offices, along with a storefront glass entrance in the reception area. Founded in 1968, Crestron Electronics has offices in 45 countries and offers integrated solutions to control audio, video, computer and environmental systems. Morgan / Harbour’s construction team included Dan Kohlsaat and Jerry Hawkinson. Featherstone Consulting Inc. provided the architectural services.
INDEPENDENCE, MO. — Overland Property Group has celebrated the opening of Gardens at Jackson Creek, a $10 million seniors living facility in suburban Kansas City. The new apartment community, located at 19401 E. 40th St. Court in Independence, features 46 one-bedroom units and 67 two-bedroom units. Williams Spurgeon Kuhl & Freshnock Architects led the design team for the 115,000-square-foot facility. One-bedroom floor plans range from 576 to 594 square feet with monthly rents starting at $1,025. Two-bedroom units range from 765 to 795 square feet with rents starting at $1,250. Apartments feature raised-panel wood doors, wood-grained vinyl plank flooring, granite countertops, walk-in closets, washers and dryers, custom cabinets and nine-foot ceilings.
CHELSEA, MICH. — Sperry Van Ness / Property Investment Advisors LLC has arranged the $6.4 million sale of a 50,000-square-foot Polly’s Country Market in Chelsea, a city located about 15 miles west of Ann Arbor. The sale price equates to $128 per square foot, an 8 percent cap rate. Marsolin Holdings LLC, a local investor, purchased the net-leased property. Robert Pliska of Sperry Van Ness represented the seller, a Pontiac, Mich.-based trust, in the transaction. The grocery store is on a long-term lease with the new owner.
MILWAUKEE —The Dickman Co. Inc./CORFAC International has completed the sale of an 88,368-square-foot industrial building located at 7500 N. 81st St. in Milwaukee. Gordon Family LP sold the property to 7500 North 81st Street LLC. Samuel M. Dickman Jr., Samuel D. Dickman and Dave Hazenfield of The Dickman Co. Inc. arranged the sale. The purchase price was not disclosed.
KENOSHA, WIS. — Medtorque has leased a 20,600-square-foot industrial building located at 5601 95th Ave. in Kenosha, located about 38 miles south of Milwaukee. Mike Prost, Sergio Chapa and Jim Kettinger Jr. of Lee & Associates of Illinois LLC represented the building’s ownership, CenterPoint Properties, in the transaction.
ST. LOUIS — KBS Legacy Partners Apartment REIT, a Newport Beach, Calif.-based public non-traded REIT, has purchased the 200-unit Lofts at the Highlands apartment community in St. Louis for $41.8 million. The Class A property, which totals 246,612 square feet, was 80 percent occupied at the time of sale. Built in 2006, the complex consists of two five-story buildings and is located between downtown St. Louis and the Clayton business district. Mills Properties Inc. will manage the property.
CLARKSVILLE, IND. — Jeff Hudson and his team at George Elkins Mortgage Banking Co. has arranged $18 million in first-mortgage debt to refinance a portion of the 872,000-square-foot River Falls Mall in Clarksville. Developed in 1990 as an indoor regional mall, the property was later redeveloped as an open-air shopping center in 2005. Major tenants of River Falls Mall include Dick’s Sporting Goods, HH Gregg, JoAnn’s Fabrics, Louisville Athletic Club, Old Time Pottery, Value City and Gordman’s. Columbus Pacific acquired the property in December 2011. The financing, which was provided through a CMBS lender as a 10-year, fixed-rate loan with a 30-year amortization schedule, was used to retire the existing debt on the property.
CHICAGO — Brokerage firm @properties Commercial has arranged the $4.5 million sale of a 37,200-square-foot loft office building at 311 N. Aberdeen St. in Chicago. Rick Kosberg of @properties Commercial represented the buyer, N.C. LLC. Denis Ascot of Ascot Realty Group Inc. represented the seller, 311 N. Aberdeen LLC, in the transaction. The property includes a four-story brick building with a lower-level parking garage. The building was 85 percent leased at the time of the sale.