NOBLESVILLE, IND. — CBRE has arranged the sale of Autumn Breeze, a newly constructed 280-unit luxury apartment community in Noblesville, a northeast suburb of Indianapolis. Steve LaMotte and Dane Wilson of CBRE's Indianapolis-Cincinnati Multi-Housing Group represented the seller, Indianapolis-based developer Herman & Kittle Properties, in the transaction. Passco Cos., a West Coast-based private investment group, purchased the property. Autumn Breeze was built in 2009 and features a full amenity package including a clubhouse with 24-hour access to a billiard room, conference room, fitness center, tanning salons and a Wi-Fi lounge with coffee bar. The purchase price was not disclosed.
CHICAGO — Marcus & Millichap has arranged the sale of a four-unit apartment property in Chicago for $1.3 million. Stephen Rachman, an investment specialist in Marcus & Millichap’s Chicago O’Hare office, marketed the property on behalf of the seller, a limited liability company. Kyle Stengle, an investment specialist in Marcus & Millichap’s Chicago Downtown office, secured and represented the buyer, an individual/personal trust. The apartment building is located at 1233 N. Hoyne Ave. in Chicago's Wicker Park neighborhood. The apartment community is fully occupied.
SAGINAW AND YPSILANTI, MICH. — Mid-America Real Estate-Michigan Inc. has arranged two leases with Ollie’s Bargain Outlet. Ollie’s signed a 26,338-square-foot lease in Green Acres Plaza at 4510 State St. in Saginaw and a 36,000-square-foot lease in Roundtree Plaza at 2321 Ellsworth Place in Ypsilanti. Susan Acciaioli, Tony Schmitt and Jack Uhazie of Mid-America Real Estate represented Ollie’s Bargain Outlet in both transactions.
SCHAUMBURG, ILL. — Sun Life Assurance Co. of Canada has renewed its 13,246-square-foot lease at 3120 N. Plum Grove in Schaumburg. The 72,461-square-foot flex building is 86 percent occupied and includes a drive-in door with storage rooms and 18-foot clear ceiling heights. Michael Flynn, executive vice president, and Jason Wurtz, vice president, of NAI Hiffman’s office services group represented Sun Life Assurance Co. of Canada in the transaction. Jordan Rovito of Cushman & Wakefield represented the landlord, Innovative Marketing Solutions.
AKRON, OHIO— KLMK Group Inc. and Akron Children’s Hospital have broken ground on a new $200 million critical care tower in Akron. The 368,735-square-foot, seven-story tower will house a new neonatal intensive care unit, emergency department, ambulatory surgery center and space for additional clinical programs. KLMK Group is the onsite project manager. The new tower will be connected to the existing hospital and is expected to open in 2015.
CHICAGO— NorthMarq has arranged a $20 million construction loan for Webster Square, a mixed-use development located at 558 W. Webster Ave. in Chicago. Webster Square is the redevelopment of a medical office building into 75 market-rate apartments, along with 16,000 square feet of ground-floor commercial space located in Lincoln Park. Sue Blumberg and Rup Patel of NorthMarq’s Chicago office arranged the financing for Sandz Development. The three-year loan includes two one-year extensions.
MINNEAPOLIS — Grandbridge Real Estate Capital has closed a $2.2 million first mortgage loan secured by 11,750 square feet of retail space in the Uptown area of Minneapolis. The retail component is part of the larger mixed-use Lumen on Lagoon project. The property also includes four floors of condominium units above the retail and underground parking below. A life insurance company provided the self-amortizing, 15-year loan, which carries a four percent interest rate. Tony Carlson originated the loan.
MILWAUKEE — Pat Ellis Investments LLC has acquired a 13,480-square-foot industrial property located at 3550 W. Elm St. in Milwaukee. Kevin Barry of Cassidy Turley Barry represented the seller, Brad T. Babor, in the transaction. Jeff Hoffman of Judson & Associates represented Pat Ellis Investments LLC.
ROLLING MEADOWS, ILL. — GlenStar Properties LLC has acquired Continental Towers, a 910,796-square-foot office complex in Rolling Meadows, located about 28 miles northwest of Chicago. Glenstar reportedly purchased the property with Walton Street Capital LLC for $58.5 million. The three-tower office complex was acquired from CW Capital on behalf of the owner, 1701 West Golf Road Holdings LLC. Glenstar plans to invest $8 million in capital improvements, which will include an overhaul of the driveways, entranceways, parking lot and landscaping. Signage, restrooms, tenant corridors and lobbies will also be upgraded. Tenants at the property include Komatsu America Corp., the Lincoln National Life Insurance Co., Advocate Health Partners, Fifth Third Bank and Chicago Title Insurance Co.
NEW BERLIN, WIS.— Milwaukee Broach Co. has signed a lease for 28,000 square feet at 5660 S. Westridge Court. The office property is located in the Westridge Business Park in New Berlin, a southwest suburb of Miwaukee. Kevin Barry and Kenneth Braden of Cassidy Turley Barry represented the owner, a private investor, in the transaction. Barry Chavin of NAI/MLG Commercial represented the tenant. Milwaukee Broach Co. makes cutting tools used to make metal parts for airplane turbines, automobiles and Snap-on and Craftsman tools.