MILWAUKEE — Falk Legal Group has signed a lease for 3,500 square feet of office space at River Bank Plaza in Milwaukee. The property is located at 740 N. Plankinton Ave. John Dulmes and Dan Walsh of Siegel-Gallagher represented the tenant; Tony Stevens of Equity Commercial Real Estate represented the landlord, River Bank Plaza Building, in the transaction. Terms of the lease were not released.
MELROSE PARK, ILL. — A partnership comprised of Chicago-based Origin Capital Partners and Newgard Development has completed the sale of a shopping center, located at the intersection of North Avenue and 25th Avenue in Melrose Park. A national REIT acquired the 113,624-square-foot property for $17.8 million. A 65,439-square-foot Food 4 Less and 30,076 square feet of inline retail tenants, including Starbucks Coffee, FedEx and T-Mobile, occupy the center.
NEWBURGH, IND. — RCG Ventures (Fund I) has completed the sale of Apple Center in Newburgh. A private investment group acquired the 88,348-square-foot retail center for an undisclosed price. Kroger, Ace Hardware and Tradebakers anchor the property. Dan Cooper of Cooper Commercial Group represented RCG in the transaction.
BEAVERCREEK, OHIO — Los Angeles, Calif.-based Griffin Capital Corp., along with five single-purpose borrowing entities operated by Griffin Capital Essential Asset REIT, has acquired the Northrop Building in Beavercreek. The 99,246-square-foot property is occupied by Northrop Grumman Systems. The acquisition is part of a five-property office and industrial portfolio totaling 889,805 square feet in Ohio, New Jersey, North Carolina, Texas and Arizona. Kevin MacKenzie, John Chun, Stephen Skok and Tucker Knight of HFF arranged $110.6 million in financing for the portfolio acquisition. The portfolio includes the 210,524-square-foot Verizon Building in Warren, N.J., the 198,898-square-foot UTC Building in Charlotte, the 146,683-square-foot Schlumberger Building in Houston, and the 231,454-square-foot Avnet Building in Chandler, Ariz.
COLUMBUS, OHIO — Cleveland-based Goodman Real Estate Services Group has completed the sale of an approximately 91,892-square-foot Burlington Coat Factory property in Columbus. The property, located at 3565 W. Dublin Granville Road, sold for $3.4 million, or $37 per square feet. The property is located across the street from retail center that is anchored by Whole Foods, DSW and Bed, Bath & Beyond. Kyle Hartung of Goodman Real Estate Services Group represented the undisclosed buyer in the transaction. The acquisition was an off-market transaction and purchased at an 11.9-percent cap rate.
JEFFERSON CITY, MO. — American Hotel Income Properties REIT LP (AHIP) has completed the renovation of Oak Tree Inn, which is located at 1710 Jefferson St. in Jefferson City. The $1 million renovation included the implementation of Oak Tree Inn’s brand standards at the 77-room property, including noise, light and temperature control features. The property was purchased in 2013, and is now under a long-term railway contract with a leading U.S. railroad customer. Through its wholly owned indirect subsidiaries, AHIP currently owns 38 hotels in 20 states.
TINLEY PARK, ILL. — A joint venture between New York-based Dune Real Estate Partners and Chicago-based Focus Healthcare Partners has purchased Hanover Place of Tinley Park, a 150-unit, Class A, age-restricted senior living property in Tinley Park. Berwyn, Pa.-based LCOR sold the property, which is located at 16851 S. Harlem Ave., for $19 million. Jeff Patterson of ARA Seniors Housing and Todd Stofflet of ARA Midwest represented the seller.
CHICAGO — Dallas-based Westmount Realty Capital has acquired the Premier Chicago Industrial Portfolio, which is located near O’Hare International Airport in Chicago. The 1.5 million-square-foot portfolio consists of eight infill industrial properties, which are occupied by Hearthside Food Solutions, Jewel-Osco, Halls Rental Service, Revolution Dancewear and Gold Eagle.
CHICAGO — Fifield Cos. is building a bridge over Union Avenue, connecting K2 Apartments and the Jewel-Osco on Des Plaines Street in Chicago. The 105-foot, open-air bridge will connect the grocery story parking deck to an outdoor area of K2’s pool deck. The bridge will be completed and accessible for residents in March. The 496-unit K2 Apartments, located at 365 N. Halsted St., is a joint venture between Fifield Cos. and Wood Partners.
AUBURN HILLS, MICH. — Knight Global has purchased 173,000 square feet of industrial space for an undisclosed price. The space is located at the United Solar Ovonic building at 2705 Commerce Parkway in Auburn Hills. John Lominack and Robert Hanzl of Colliers International represented the buyer in the transaction. The seller was not disclosed.