ROUND LAKE BEACH, ILL. — CBRE has arranged the lease of a 1,755-square-foot retail space for Sally Beauty Supply LLC. The professional beauty product retailer will occupy space at 272 B East Rollins Road in Round Lake Beach, which is approximately 50 miles north of Chicago. Marcy Wood of CBRE represented Sally Beauty Supply in the transaction. Allan Perales of McCaffrey Interests represented the landlord.
Midwest
MONTROSE, OHIO — JLL has brokered the $32.5 million sale of Market Square at Montrose, a 510,231-square-foot retail center. The property is located at 3472 Brookwall Drive in Montrose, which is approximately 28 miles south of Cleveland. Anchor stores at Market Square at Montrose include The Home Depot, JC Penney, Levin Furniture, Dick’s Sporting Goods, Regal Cinemas, Toys ‘R’ Us and Cost Plus World Market. Kris Cooper, Margaret Caldwell and Becky Wells of JLL represented the seller, LaSalle Investment Management Inc. Brooklyn-based HP REALTY LLC purchased the property.
WOODRIDGE, ILL. — Sperry Van Ness has arranged the $2.2 million sale of a 13,309-square-foot multi-tenant restaurant property in Woodridge, which is approximately 30 miles west of Chicago. The property is located at 6320 Route 53 and is comprised of two independent restaurant spaces. Tilted Kilt leases one of the spaces. The other restaurant space is vacant and available for lease. Vincent D’Amico of Sperry Van Ness represented the undisclosed seller in the transaction. The buyer was a national investor that specializes in restaurant properties.
AUBURN HILLS, MICH. — Colliers International has brokered the sale of a 20,500- square-foot industrial building in Auburn Hills approximately 30 miles north of Detroit. The property is located at 1160 Centre Road. John Lominack of Colliers represented the seller, Knight Industries & Associates Inc., in the transaction. Friedman Integrated Real Estate Solutions represented the buyer, Nobel Automotive Group.
GREENWOOD, IND. — Lee & Associates has arranged the lease of a 2,160-square-foot retail space in Greenwood, a suburb of Indianapolis. Moody Retail Shops LLC will occupy space in Village Commons I located at 862 S. State Road 135. Cathy Richards of Lee & Associates represented the tenant. Scot Courtney and Bart Jackson of Lee & Associates represented the landlord, VC-1 LLC.
Indianapolis is experiencing explosive growth in the mid- and big-box grocery store sector. Capitalizing on the consumer trend of active and healthy lifestyles, the metro area has attracted new concepts to the market. Fresh Thyme Farmers Markets will soon join the already healthy and organic offerings of Whole Foods, The Fresh Market and Earth Fare. Although these brands have a smaller footprint than traditional grocers, these specialty gourmet grocers account for seven new stores consuming more than 160,000 square feet of retail space throughout Indianapolis and the suburban markets. This growth in the organic and health food concepts complements the well-care businesses that expanded their presence in the Indianapolis area last year, including Vision Works, Med Express, ATI Physical Therapy and Accelerated Physical Therapy. Consumer demand for convenient access to personal well-care services, such as medical spas, massage therapy, cosmetic dentistry and personal fitness is on the rise. These types of businesses account for a significant amount of absorption within several neighborhood shopping centers throughout the market. In that vein, consumers also are choosing healthier dining options such as grab-and-go prepared foods at their local grocer rather than hitting the fast food drive-thru or dining at a restaurant. This preference …
MINNEAPOLIS AND MILWAUKEE — Brennan Investment Group LLC has acquired a four-property industrial portfolio for $20 million. The portfolio includes three properties in the Minneapolis/St. Paul metropolitan area and one property in Milwaukee. Steve Lysen and Curt Smith of CBRE were the brokers involved in the transaction.
MONROE, MICH. — Sperry Van Ness has arranged the $5 million sale of a 14,820-square-foot Walgreens property in Monroe. The property is net leased to Walgreens, and the remaining lease term is approximately 15 years. Mike Lamb and Dan Stewart of Sperry Van Ness/Stewart Commercial Group LLC represented the seller, a Naples, Fla.-based retail developer. Sean Lutz and Dan Elliot of Sperry Van Ness Chicago Commercial represented the buyer.
ST. FRANCIS, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of two industrial buildings totaling 27,550 square feet in St. Francis, a suburb of Milwaukee. The properties are located at 4160 and 4170 S. Nevada Ave. Mathie Nevada Holdings LLC purchased the properties from Nevada Avenue Properties LLC. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Noble of The Dickman Co. were the brokers in the transaction.
CRAWFORDSVILLE, IND. — Lee & Associates has arranged the lease of a 9,800-square-foot retail building in Crawfordsville, approximately 45 miles northwest of Indianapolis. Planet Fitness will occupy space at the property located at 1660 S. Washington St. Bart Jackson and Scot Courtney of Lee & Associates represented the buyer. Sam Cooper of Lamar Cos. represented the seller, Remainder Outlot LLC.