PLYMOUTH, MINN. — Carter's and Oshkosh B'gosh have opened a combined 7,422-square-foot store at 4190 Vinewood Lane North at Rockford Road Plaza in metro Minneapolis. Rockford Road Plaza is located on Rockford Road, east of Interstate 94 in Plymouth. Matt Friday with SRS Real Estate Partners represented the tenants, Carter's and Oshkosh B'gosh, in the transaction. Rick Spector of Regency Centers represented the landlord. Carter's and Oshkosh will be joined by SuperTarget, TJ Maxx, HomeGoods, PetSmart and Kohl's, which open early next year.
CHICAGO — Avison Young and Jones Lang LaSalle (JLL) have completed an equity raise totaling approximately $300 million on behalf of ECHO Realty LP. H&R REIT acquired a one-third interest in Echo Realty, which holds an 8 million-square-foot portfolio of commercial properties located in Pennsylvania, Ohio, Maryland and West Virginia. Pittsburgh-based ECHO Realty’s $1.2 billion portfolio features 173 properties, including 62 grocery stores, five office buildings, six industrial properties and three parcels. The Avison Young team included James Solomon, former head of the firm's U.S. capital markets team, along with Earl Webb, president of U.S. operations, and Matt Hoffman, assistant vice president. Bruce Westwood-Booth and Guy Ponticiello, managing directors, led the JLL team in this transaction.
WADENA, MINN. — Kraus-Anderson Construction Co. has begun construction of the new $12 million Maslowski Wellness and Research Center in Wadena, a city in western Minnesota. The facility will combine a community center and swimming pool, both of which were destroyed by a hurricane that wiped out 20 city blocks of Wadena on June 17, 2010. The 52,500-square-foot wellness center will include a gymnasium, indoor swimming pool, fitness center, racquetball courts and community meeting spaces. Designed by Minneapolis-based Steve Miller Architects, the two-story facility is slated for a fall 2014 completion.
DETROIT — Commerical Property Advisors (CPA) has arranged the sale of Marwood Apartments in the New Center area of Detroit. The 53-unit apartment community sold for $905,000, or $17,075 per unit. The property was completely renovated between 2003-2005. Cary Belovicz, managing partner, and Scott Sutphin of CPA represented the seller, Cp Cominvest LLC, and the buyer, Marston New Center Real Estate LLC, in the transaction.
CAROL STREAM, ILL. —Hand & Stone Massage and Facial Spa has leased 3,200 square feet at Heritage Plaza located at Army Trail and County Farm roads in Carol Stream. This is the company’s fourth location in the Chicago metro area. Heritage Plaza is a 128,871-square-foot shopping center anchored by Jewel Osco and features four access points. Sean McCourt of CBRE represented the property management company, Inland American Retail Management LLC, and Baum Realty Group represented Hand & Stone in the transaction.
WARRENSBURG, MO. — The University of Central Missouri (UCM) is developing a new 325-bed student living center on its main campus in Warrensburg, about 60 miles southeast of Kansas City. The $60 million investment is the largest in the history of the university. UCM has partnered with master planner and architect Gould Evans to create the new center, which will open in the fall of 2015. UCM is working on securing financing for the project and will own the facilities upon completion. The center will feature 22,000 square feet of retail and two- and four-bedroom apartments, along with study and social spaces.
EVANSTON, ILL. — NorthMarq has arranged $2.5 million in financing for the redevelopment of Southpoint Plaza, a retail center in metro Chicago that will include Walgreens’ first net-zero energy retail store in the country. Engineers of Walgreens new store predict it will produce energy equal to or greater than it consumes. Walgreens plans to achieve a net-zero energy building by utilizing solar panels, wind turbines, geothermal technology, energy-efficient building materials, LED lighting and ultra-high-efficiency refrigeration. Construction of the new store began in March and is slated for completion in late November. Erik Kunz and Chris Leggee, vice president and assistant vice president of NorthMarq’s Chicago office, arranged the financing.
CANTON, OHIO — The Cooper Commercial Investment Group has arranged the $3.9 million sale of the Navarre Industrial Center, a 186,285-square-foot industrial and manufacturing facility in Canton. Dan Cooper, president and broker at Cooper Commercial Investment Group, represented the owners, a locally based private group. The buyers were a private group from the East Coast. The sale represents a 9.3 percent capitalization rate. Crown Cork & Seal, which recently signed a lease extension through 2020, anchors the fully occupied property. Other tenants at the property include Timken and Helios Coatings. The industrial facility features 12 docks, 40-foot clear ceiling heights, sprinklers and is within close proximity to I-77 and Route 30.
DELAFIELD, WIS. — Naturescape Inc., a lawn and landscape care provider, has purchased the 10,000-square-foot industrial facility it occupies in suburban Milwaukee. Deedeb LLC was the seller. Naturscape leased approximately half of the Delafield building in 2012. Due to its recent growth, the company decided to purchase the building and expand into the additional space. The industrial facility is located at 363 Austin Circle in Delafield. Maximilian Yokosh of Milwaukee-based Cassidy Turley Barry represented Naturescape in the lease transaction. The purchase price was undisclosed.
ROCK ISLAND, ILL. — Meridian Design Build’s national projects group has broken ground on a 189,926-square-foot package sorting and distribution center in Rock Island. Meridian is building the facility for Indianapolis-based Scannell Properties. The property will feature 8,259 square feet of office, 59 loading docks, 193 exterior trailer stalls and 160 van storage spaces. A separate security building and fenced enclosure will provide controlled access to the facility. Michael Winger, director of the Meridian’s national projects group, leads the company’s project team. Precept Design LLC is providing architectural services, and civil engineering work is being completed by Shive-Hattery. Rock Island is part of the Quad Cities region bordering Illinois and Iowa and is located 1.5 miles south of Davenport, Iowa.