Midwest

NAI HIFFMAN ARRANGES 32,000 SF IN LEASES IN METRO CHICAGO

by admin November 7, 2013

ADDISON AND WESTMONT, ILL. — NAI Hiffman has represented JSQ Commercial in four separate lease transactions totaling more than 32,000 square feet of office space in suburban Chicago. At Brush Hill Office Courte, located at 740-770 Pasquinelli Drive in Westmont, MacNeal Health Providers Inc. expanded its lease for 15,237 square feet. Mid-American Group, an employee benefits consulting firm, expanded its lease for 6,208 square feet at the property. Cardinal Health also signed a new lease for 4,011 square feet. Brush Hill Office Courte includes four single-story office buildings totaling 112,229 square feet. In Addison, Shimadzu Corp., a manufacturer of scientific instruments, expanded its lease for 6,968 square feet at Centerwest Business Park, located at 2055 West Army Trail Road. The space is located within an 116,583-square-foot flex building directly off the I-355 and Army Trail Road interchange. Dan O’Neill, executive vice president, and Matt Novak, associate with NAI Hiffman’s office services group, represented JSQ Commercial in all four transactions. Tony Karmin of Transwestern represented MacNeal Health Providers; Ellen Steinbrecher of Lee & Associates represented Mid-American Group; and Pete Adamo of CBRE represented Cardinal Health. Vic Sanmiguel of Chicagoland Commercial represented Shimadzu.

November 7, 2013

KTR CAPITAL PARTNERS TO BUILD 1M SF AMAZON CENTER IN KENOSHA

by admin November 6, 2013

KENOSHA, WIS. — Amazon.com Inc. has announced plans to open a 1 million-square-foot fulfillment center in Kenosha, a southern suburb of Milwaukee. At the new facility, Amazon employees will pick, pack and ship small items to customers like books, electronics or consumer goods. KTR Capital Partners is building the project, which will create more than 1,000 full-time when it opens, according to Amazon. The Seattle-based online merchant's plans for the distribution center was publicly confirmed when the Kenosha Common Council on Oct. 7 approved a plan for the city to spend $17 million through a tax incremental financing district, according to the Journal Sentinel. That money will be repaid within an estimated seven years by the distribution center's new property taxes.

November 6, 2013

Hospitality Midwest

THOROFARE CAPITAL ARRANGES $11.5M FOR 242-ROOM HOTEL

by admin November 6, 2013

NAPERVILLE, ILL. — Thorofare Capital has arranged $11.5 million in financing for the acquisition of a 242-room Wyndham hotel in suburban Chicago, which will be converted to a Sheraton. The hotel features 25,000 square feet of conference and ballroom space and is located in Naperville. Starwood Hotels & Resorts recently signed a 20-year franchise agreement for the property.

November 6, 2013

Midwest Retail

QUANTUM ARRANGES SALE OF KFC | TACO BELL IN METRO CHICAGO

by admin November 6, 2013

BARTLETT, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 32,580-square-foot Kentucky Fried Chicken/Taco Bell ground lease in Bartlett, a western suburb of Chicago. The property sold to a cash buyer from Illinois. A Chicago-based developer and property owner sold the property. The freestanding building is located at 960 Route 59 and is adjacent to The Home Depot. Chad Firsel of Quantum Real Estate Advisors Inc. represented the seller in the transaction.

November 6, 2013

Midwest Office

MIDDOUGH INC. SIGNS 68,748 SF LEASE IN OAK BROOK

by admin November 6, 2013

OAK BROOK, ILL. — International engineering services company Middough Inc. has signed an extension of its existing lease at 700 Commerce Drive in Oak Brook, totaling 68,748 square feet. Robert Sevim, executive managing director of Studley’s Chicago office, represented Middough. Jeff Mann of CBRE represented the landlord, Principal Financial.

November 6, 2013

Industrial Midwest

MONMOUTH BUYS 280,000 SF KANSAS INDUSTRIAL BUILDING FOR $18.8M

by admin November 5, 2013

EDWARDSVILLE, KAN. — Monmouth Real Estate Investment Corp. (NYSE: MNR) has acquired a 280,000-square-foot industrial building in Edwardsville, a western suburb of Kansas City, for $18.8 million. The property, located at 2552 South 98th St., is net leased for 10 years to International Paper Co., a Memphis, Tenn.-based global provider of paper and packaging materials. The Class A distribution center is within close proximity to four major interstates — I-435, I-70, I-635 and I-35. Freehold, N.J.-based Monmouth is a publicly traded REIT, which owns 78 industrial properties and one shopping center within 27 states.

November 5, 2013

Midwest Retail

WALGREENS PROPERTY SELLS FOR $9.2M IN METRO INDIANAPOLIS

by admin November 5, 2013

GREENWOOD, IND. — The Mansour Group has arranged the $9.2 million sale of a property fully occupied by Walgreens in Greenwood, a southern suburb of Indianapolis. Alvin Mansour of The Mansour Group marketed the property on behalf of a private seller. The Walgreens property features the company’s flagship “Take Care Clinic” model, which provides clinic services to walk-in patrons. A private California-based buyer, who was also represented by Mansour, acquired the building.

November 5, 2013

Industrial Midwest

FRIEDMAN REALTY SELLS 312,000 SF CHICAGO INDUSTRIAL BUILDING

by admin November 5, 2013

CHICAGO — Cushman & Wakefield has completed the sale of 2801 S. Western Ave., a 312,000-square-foot industrial building located in the Near South Side community of Chicago. Sally Macoicz of Cushman & Wakefield’s Chicago office represented the seller, Friedman Realty. The investment buyer was Venture One Real Estate LLC. Friedman Realty is an affiliate of Dearborn Wholesale Grocers, which had occupied the facility prior to downsizing and relocating within the market. The building was vacant at the time of sale and is being marketed for lease by Macoicz, along with Cushman & Wakefield’s Larry Goldwasser and Colin Green. The building is located off the interchange of I-55 and Damen Avenue. The purchase price was undisclosed.

November 5, 2013

Midwest Retail

COOPER COMMERCIAL ARRANGES $1.8M SALE OF BURGER KING

by admin November 5, 2013

CANTON, OHIO — The Cooper Commercial Investment Group has arranged the $1.8 million sale of a 3,156-square-foot property occupied by Burger King in Canton. The sale price represents a 6.5 percent capitalization rate. Dan Cooper, president and broker at Cooper Commercial Investment Group in Cleveland, represented the owner, a local private investment group, in the transaction. A California-based private investor purchased the property, which is triple-net leased to Burger King. The hamburger chain has 13 years left on its lease.

November 5, 2013

Midwest Multifamily

NORTHMARQ ARRANGES $20M LOAN FOR 444-UNIT COMMUNITY

by admin November 4, 2013

LITTLE CANADA, MINN. — NorthMarq Capital’s Minneapolis office has arranged a $20 million loan for the refinancing of Montreal Courts Apartments in metro Minneapolis. The market-rate apartment community includes 444 units and is located in Little Canada. Patrick Minea, senior vice president and managing director of NorthMarq, arranged the loan for the borrower through Freddie Mac.

November 4, 2013

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