KANSAS CITY, MO. — Demdaco, a Leawood-based importer of household gift and decorative items, is moving its distribution to Logistics Park Kansas City. Logistics Park KC master developer NorthPoint Development and NAI Capital Realty announced that Demdaco had executed a long-term lease for a 326,650-square-foot distribution center. The center will be custom built for Demdaco, which has distributed its products from North Kansas City for the last 12 years. Demdaco will bring the total square footage under development to more than 850,000 square feet at the industrial park.
QUINCY, ILL. — Marcus & Millichap Capital Corp. has arranged a $5 million refinance for a 14,820-square-foot Walgreens in Quincy. Steven Goldwyn of the Fort Lauderdale office arranged the loan. The nonrecourse, 10-year loan carries a 4.5 interest rate and includes a 30-year amortization schedule. “The borrower wanted to retire the seller carry-back debt from when they closed the property’s acquisition at the end of 2012,” says Goldwyn.
SAUKVILLE, WIS. — Mr. Mover Inc., a moving and storage company, has purchased an 8,800-square-foot industrial building in Saukville, about 25 miles north of Milwaukee. General Chemical sold the property, which is located at 500 N. Progress Drive. The purchase price was undisclosed. General Chemical acquired the facility in 2006. Mr. Mover will relocate from its current building at 336 S. Spring St. in Port Washington. James Young of Cassidy Turley Barry represented General Chemical in the transaction. Jeff Hoffman of Judson & Associates represented Mr. Mover.
CHICAGO — A group of investors has acquired the office and parking components of the John Hancock Center, a 100-story landmark skyscraper located in downtown Chicago. The investor group, which includes The Hearn Co., The Lynd Co. and Mount Kellett Capital Management LP, purchased the property for $140 million, according to the Wall Street Journal. Built in 1970, the 3.1 million-square-foot tower is known for its cross-beam steel bracing design that eliminated the need for interior columns, creating a more efficient interior space. In 2012, the building was vertically subdivided, creating multiple components, each of which has been sold. Hearn and its partners purchased the 900,000-square-foot office sector (floors 13-41) and the 710-car parking facility (floors 4-12). The group also acquired most of the common areas including the outdoor plaza, concourse and the entries and lobbies on both Chestnut and Delaware Streets. Jack McKinney Sr., Jack McKinney Jr. and Matt Lerner of J.F. McKinney & Associates have been selected to lease the office space.
GRAND RAPIDS, MICH. AND SOUTH BEND, IND.— CrossLake Partners has acquired a seven-building, 1.5 million-square-foot industrial portfolio located in the Grand Rapids, Mich., and South Bend, Ind., markets for $29.2 million. CenterPoint Properties was the seller. CrossLake Partners is a joint venture between principals within Colliers International’s Chicago offices and a Chicago-based real estate investment firm. KeyBank provided the acquisition and lease-up financing in this transaction. The properties, which are 75 percent leased, have 23 tenants including Wacker Neuson (150,000 square feet), Tubelight (123,000 square feet) and PIPP Mobile Storage (116,000 square feet). Michigan buildings in the portfolio include: 3056 Walker Ridge Drive (335,125 square feet), 2966 Wilson Drive (200,188 square feet) and 3111 Wilson Drive (107,000 square feet) in Walker; 1269 E. Mt. Garfield Road (275,000 square feet) in North Shores; and 1100 Hynes Ave. (215,050 square feet) and 900 Hynes Ave. (190,429 square feet) in Grand Rapids. The South Bend industrial property is located at 1827 Bendix Drive and spans 199,730 square feet.
MINNEAPOLIS —NorthMarq has arranged $16.6 million in first mortgage refinancing for Soltva Apartments, a 100-unit, multifamily property located at 701 N. 2ndSt. in Minneapolis. The 15-year loan includes a 30-year amortization schedule. Daniel Trebil, senior vice president and senior director of NorthMarq’s Minneapolis regional office, arranged the financing for the borrower through a life insurance company.
SCHAUMBURG, ILL. — Diebold, a manufacturer and supplier of self-service banking products, has signed an office lease for 6,524 square feet at 900 National Parkway in Schaumburg, a northwest suburb of Chicago. The 100,287-square-foot office building is 80 percent leased with available suites ranging from 2,000 to 14,000 square feet. Jack Reardon of NAI Hiffman’s office services group represented the landlord, Raytek Three Woodfield Lakes, in the transaction. Lexis Livengood of UGL Equis represented Diebold.
SUSSEX AND GREEN BAY, WIS. —A Midwest-based developer has sold a single-tenant, net-leased portfolio including two properties in Sussex and Green Bay for $17.6 million. Shopko is the sole occupant of the two 80,000-square-foot properties. The department store has 16 years left on its initial lease at both properties. The stores are located at 2320 Lineville Road in Green Bay and N66 W 25201 County Highway in Sussex. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer was a West Coast-based investment firm.
TOLEDO, OHIO — Oklahoma City-based CSA9-Arrowhead LLC has sold a three-property office portfolio located at 1695, 1705- 1715 Indian Wood Circle in Toledo. A Toronto-based investment group purchased the properties, which total 129,786 square feet. The new owners acquired the property for a long-term hold and intend to continue the property stabilization process begun by the prior owner, which was a bank that acquired the property through foreclosure. A team of investment property consultants including Harlan Reichle and Walter Plath of by Reichle | Klein Group represented the seller in the transaction.
FRANKLIN, IND. — Lee & Associates has closed the $2.4 million sale of City View Shoppes, a 20,630-square-foot shopping center in Franklin, a south suburb of Indianapolis. Built in 2003, the eight-unit center is fully leased and located at 1047 W. Jefferson St. adjacent to Johnson Memorial Hospital and City View apartment complex. Jim Karozos and Bob Lindgren of Lee & Associates’ Indianapolis office represented the seller, City View Shoppes, while Nick Kirkendall of Ohio Properties represented the buyer, Kirkendall Investment, in the transaction.