BLUE SPRINGS, MO. — Arbor Commercial Funding LLC has closed an $11.4 million loan for Brookwood Village Townhomes, a 200-unit multifamily property in Blue Springs, an eastern suburb of Kansas City. The 10-year Fannie Mae DUS loan includes a 30-year amortization schedule. The multifamily property includes a community gazebo located in the center of a cul-de-sac.
MORTON GROVE, ILL. — Marcus & Millichap has arranged the $7.6 million sale of Lonore Plaza, a 36,505-square-foot retail property located in Morton Grove, about 15 miles northwest of Chicago. Austin Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Oak Brook office, represented the buyer, an investment company, and the seller, a private investor. Lonore Plaza, located at 7132 Dempster St., was more than 91 percent occupied at the time of sale. Tenants include Bedding Experts, Drycleaning Factory, Subway and Betty’s Bistro.
EDEN PRAIRE, MINN. — DSW Shoe Warehouse has signed a lease for 18,852 square feet at the Eden Prairie Center in suburban Minneapolis. The new DSW will be located at 8251 Flying Cloud Drive in Eden Prairie. DSW is planning a third quarter 2014 opening date.SRS Real Estate Partners' Minneapolis office represented the tenant, DSW Shoe Warehouse, in the transaction. CAPREF Eden Prairie Center LLC represented the landlord.
LISLE, ILL. — Chicago-based GlenStar Properties LLC, along with an institutional capital partner, has purchased 2400 Cabot Drive in Lisle from CA Lisle Project Co. LLC an entity advised by CBRE Global Investors LLC. The 205,633-square-foot building, originally built in 1987 as Pansophic Systems Inc.’s headquarters, is a Class A suburban headquarters building. Ideal for large users of office space, the building features 52,000-square-foot floor plates and amenities including conference and training facilities, indoor executive parking, a fitness center and a full service cafeteria and dining area. The new ownership plans to increase and upgrade the existing on-site parking and will also provide additional building enhancements.
BERWYN, ILL. AND JOPLIN, MO — Agree Realty Corp. has acquired two assets net leased to The Goodyear Tire & Rubber Co. and Mattress Firm Inc. in Berwyn, Ill., and Joplin, Mo., for $3.7 million. Goodyear recently signed a 15-year lease and has operated the store in suburban Chicago for more than 50 years. The Mattress Firm store, located in Joplin, is a new build-to-suit store located on a corner outlot of a Target-anchored shopping center. The average lease term remaining for the two assets is more than 13 years.
KANSAS CITY, MO. — ThyssenKrupp Materials NA Inc. has signed a 52,862-square-foot lease renewal in Kansas City. The Southfield, Mich.-based provider of production materials will occupy space at an industrial building located at 6100 Stilwell Ave. Tom Haverty of Colliers International represented ThyssenKrupp Materials in the transaction. Zach Hubbard of Block Real Estate Services represented the landlord, CRP-3 6100 Stillwell LLC.
COLUMBIA, MO. — Campus Advantage has acquired The Domain at Columbia, marking its second purchase in the University of Missouri market. Campus Advantage also owns Campus View Apartments. The Domain at Columbia includes 654 beds in 228 units contained in eight three-story, garden-style buildings. The community offers one-, two- and four-bedroom apartments, as well as four-bedroom townhomes that include utilities in the rent. The property was fully occupied at the time of sale. Amenities include a resort-style swimming pool, full-size volleyball court, outdoor kitchen with grilling stations, poolside hammock area, two competitive horseshoe pits and an outdoor fire pit. The Domain also features an 11,600-square-foot clubhouse with game room, fitness center, full swing golf simulator, theater room, business center, three private conference rooms, Internet café, stand-up tanning booth and Wi-Fi access throughout the property.
WEST OMAHA, NEB. — Q10 | Daisley Ruff Financial has arranged a $5.5 million permanent loan through a correspondent lender for Empire Spectrum, a 143,050-square-foot office and industrial complex in West Omaha. The non-recourse loan carries an interest rate of 4.4 percent and includes a 25-year amortization schedule. Bob Chalupa, senior vice president of Q10 | Daisley Ruff Financial, arranged the financing.
PALATINE, ILL. — Sperry Van Ness Chicago Commercial has arranged the sale of a 1.5-acre site including a 4,363-square-foot retail building in suburban Chicago for $1.4 million. The freestanding retail building, which was previously occupied by Applebee’s, is located at 741 E. Dundee Road in Palatine. The parcel has been sold to a local developer who plans to redevelop the parcel into a new 10,000-square-foot, multi-tenant retail center. Craig Franzen and Ben Andrews of Sperry Van Ness represented the buyer and seller in the transaction.
OAKBROOK TERRACE, ILL. — NAI Hiffman has represented the ownership in three separate retail transactions in the Chicago suburbs. Jewel Food Stores Inc. signed a new 10-year lease with F&J Tan LLC, a dental group, at the Jewel-anchored center at 7339 S. Cass Ave. in Darien. F&J Tan plans to open in early 2014. At the Jewel-anchored Woodstock Center at 113 S. Eastwood Drive in Woodstock, 111 Eastwood LLC signed physical therapy provider, Athletico, to a five-year lease for 2,625 square feet. Athletico plans to open this location by the end of the year. At City Park, located at 250 Parkway Drive in Lincolnshire, ECD-Lincolnshire Retail LLC signed Roosters Men’s Grooming Center to a five-year lease for 1,300 square feet. The men’s hair salon will open for business in early 2014. Jennifer Hopkins, Michael Meksto and Jim Tsevis of NAI Hiffman’s retail services group represented Jewel Food Stores in its lease with F&J Tan. Hopkins also represented 111 Eastwood LLC and ECD-Lincolnshire Retail LLC. Joseph Rossi of Joseph Rossi & Associates represented F&J Tan; Peter Scannell of Mid-America represented Athletico; and Jack Siragusa of Cushman & Wakefield represented Roosters Men’s Grooming Center.