HOFFMAN ESTATES, ILL. — GiGi’s Playhouse has leased 10,539 square feet of retail space at Barrington Square Town Center in Hoffman Estates, a northwest suburb of Chicago. The company will lease the space for 10 years as the national prototype for Down Syndrome Achievement Centers. Albert Lindeman and Wayne Caplan, senior vice presidents at Sperry Van Ness Chicago Commercial, represented the landlord in the transaction. Town Center shopping center spans more than 100,000 square feet and is located across from St. Alexius Medical Center. Existing tenants include McDonald’s, Buona Beef, Fred Astaire Dance Schools, Garibaldi's Restaurant and Advance Pre-School Daycare.
ROSEVILLE, MICH. — Compass Self Storage LLC, a member of the Amsdell Cos., has purchased a self storage property located at 29500 Hayes Road in Roseville, a northeast suburb of Detroit. Compass Self Storage will operate the 77,000-square-foot facility. The property features drive-up access, climate-controlled units, digital surveillance, online payment options and a full line of moving and packing supplies. The store will be the 10th location operating under the Compass brand in the Michigan market.
MINNEAPOLIS — Grandbridge Real Estate Capital has closed a $4.2 million first-mortgage loan secured by Charlestown Apartments, a 109-unit apartment property in Minneapolis. Tony Carlson of Grandbridge originated the refinancing. A local bank funded the five-year loan, which includes a fixed interest in the mid-three percent range and a 20-year amortization schedule. The loan equates to less than $40,000 per unit and was used to pay off the borrower’s existing debt and fund property improvements.
STERLING HEIGHTS, MICH. — Bernard Financial Group has arranged a $1.7 million loan for two single-tenant manufacturing buildings in Sterling Heights, a northern suburb of Detroit. Dennis Bernard and David Dismondy of Bernard arranged the financing on behalf of Fifteen Mile & Product Drive LLC. Assurity Life Insurance Co. was the lender.
KANSAS CITY, MO. — Block & Co. Inc. has arranged the sale of the Shoppes at Shoal Creek in Kansas City. The purchase price was undisclosed. An entity owned by Pine Tree Commercial Realty LLC, in partnership with Wanxiang America Corp., purchased the 130,000 square-foot property. Shoppes at Shoal Creek is located at the northwest corner of 152 Highway and Flintlock Road. Best Buy and Office Max anchor the center. David Block, president of Block & Co., represented the sellers, Shoal Creek Center BWG LLC and Shoal Creek BW Five LLC, in the transaction. Block and Becky Goodman of Block & Co. Realtors are serving as the leasing agents for the property.
CRAWFORDSVILLE, IND. — HealthLease Properties Real Estate Investment Trust has acquired a newly built, 100-unit seniors housing facility in Crawfordsville from Mainstreet Property Group LLC, the asset manager for the publicly traded REIT. Wellbrooke of Crawfordsville sold for $16.9 million. The facility is leased on a triple-net basis to an operator that is owned 50 percent by Life Care Services and 50 percent by an affiliate of Mainstreet. Of the 100 units at Crawfordsville, 70 are licensed to provide skilled nursing, rehabilitation and therapy services, while the other 30 provide assisted living. The Toronto-based REIT (TSX: HLP.UN) owns 45 seniors housing facilities with 12 in Canada and 33 in eight U.S. states.
INDIANAPOLIS — EMK Property Investors has sold Annaberry Park, a mixed-use property located south of 86th Street on Harcourt Road in Indianapolis. Omaha-based Metonic Real Estate Services purchased the property, which includes 244 residential units and 12 commercial units. The purchase price was undisclosed. EMK Property Investors purchased the apartment community in late 2010 from a lender. At the time, the property was known as Presidential Estates. The company spent more than $1.3 million to upgrade the property, including the installation of new windows, replacement of a portion of the roofs, new exterior paint, renovation of the clubhouse and the majority of the units. Omaha-based Seldin Co. will serve as the new manager of the property.
ST. LOUIS — Hilliker Corp. has assisted local franchise owners in finding a new home for their bridal store in St. Louis. Husband Ihab Elassal and wife Nagwa Abdelghfour, along with son Yasser Elassal, recently opened Impression Bridal, a 13,000-square-foot store located at 4164 Chippewa St. The bridal salon currently occupies the first floor of the three-story, 39,000-square-foot building. The owners purchased the property for $235,000 and plan to open the second floor’s 13,000-square-foot space in 2015. The family has invested approximately $700,000 in renovating the building. The new interior features 22 dressing rooms, as well as 140 chandeliers throughout the store. Ihab, Nagwa and Yasser also own another Impression Bridal store at 425 Clark St. in St. Charles, which opened in 2012.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged a 12,112-square-foot industrial lease in Milwaukee. Anthony Huenerbein and Nick Keys of The Dickman Co. represented the landlord, GCI #1 LLC, and the tenant, AccuTrans Inc., in the transaction. The industrial property is located at 6134 S. Howell Ave.
CHICAGO — The John Buck Co. has formed a joint venture with institutional investors to develop a 36-story office tower in Chicago’s West Loop. The John Buck Co. and its partners, Canada Pension Plan Investment Board and the INDURE Fund managed by National Real Estate Advisors, have agreed to commit $145 million of equity capital to initiate the proposed project called 151 North Franklin. The development would be the first new office project to be delivered in Chicago since 2009, according to The John Buck Co. The project is slated for completion in the third quarter of 2016. Plans call for the 825,000-square-foot tower to offer WiFi throughout the building, 25,000-square-foot floor plates, 10-foot ceiling heights and floor-to-ceiling glass. The design team includes Chicago-based architect John Ronan and Adamson Associates Inc.