Midwest

CBRE Negotiates 15 Leases Totaling 105,000 SF at Peabody Plaza Office Tower in St. Louis

by Kristin Harlow September 4, 2024

ST. LOUIS — CBRE has negotiated 15 leases totaling nearly 105,000 square feet at Peabody Plaza, a 400,000-square-foot office tower in St. Louis. Rick Messey and Whitney Allen of CBRE represented ownership, New York-based Briar Meads Capital. The leases were completed within the last 18 months. The tenants include Goldstein and Price LC, Citizens for Modern Transit, Sandberg Phoenix and Von Gontard PC, Gray Ritter Graham, Hinshaw Culbertson LLC, SWMW, Consolidated Grain and Barge, Nahon, Saharovich & Troptz, Mueller Counts LLP, Fernandez Law, Brian Stokes PC and Law Offices O’Driscoll LLC, Vinciguerra Jewelers, UKraft, Keefe and Griffiths PC and Simon Law Group PC. Occupancy at the building has risen from 70 percent in 2020 to over 85 percent in 2024. Located at 701 Market St., Peabody Plaza features a top-floor conference center, 7,000-square-foot fitness center, onsite restaurant, underground parking, 24-hour security and onsite management.

September 4, 2024

Civic Development Midwest Minnesota

Kraus-Anderson Completes $28.5M North Star Elementary School in Minnesota

by Kristin Harlow September 4, 2024

VIRGINIA, MINN. — Kraus-Anderson Duluth has completed construction of North Star Elementary, a $28.5 million school located at 411 S. 5th Ave. in Virginia, a city in northeast Minnesota. The school is part of Rock Ridge Public School’s massive building project following the consolidation of the Eveleth-Gilbert and Virginia school districts. BNDRY Studio designed North Star Elementary, which will serve 600 students annually. Situated on a large city block that formerly housed the district’s elementary and high school, North Star Elementary rises three stories, which minimizes its building footprint and reclaims greenspace. The 79,000-square-foot school serves grades 3-6 and features a variety of collaborative learning spaces and open concept classrooms along with an open-air learning patio on the second floor. Construction began in spring 2022.

September 4, 2024

Acquisitions Illinois Midwest Multifamily

Greenstone Partners Brokers $7.1M Sale of Apartment Building in Chicago

by Kristin Harlow September 4, 2024

CHICAGO — Greenstone Partners has brokered the $7.1 million sale of a 24-unit apartment building in Chicago’s Lincoln Square neighborhood. The property, located at 2247-49 W. Lawrence Ave., also features 1,950 square feet of ground-floor live-work space along with a rooftop deck. Jordan Multack of Greenstone represented the buyer, Breneman Capital, and the undisclosed seller.

September 4, 2024

Acquisitions Midwest Retail Wisconsin

Marcus & Millichap Arranges $2.4M Sale of Retail Property Leased to Sherwin-Williams in Wisconsin

by Kristin Harlow September 4, 2024

JANESVILLE, WIS. — Marcus & Millichap has arranged the $2.4 million sale of a newly constructed retail property occupied by Sherwin-Williams in Janesville, a city in southern Wisconsin. Constructed this year, the building is located at 3301 Deerfield Drive and serves as an outparcel to Pine Tree Plaza, a 184,834-square-foot shopping center. Dominic Sulo of Marcus & Millichap represented the buyer and seller, neither of which were disclosed. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.

September 4, 2024

Leasing Activity Midwest Minnesota Retail

StarCycle to Open at Hallon Development in Hopkins, Minnesota

by Kristin Harlow September 4, 2024

HOPKINS, MINN. — StarCycle, a cycling studio, has signed a lease to open at the new Hallon development in Hopkins, a southwest suburb of Minneapolis. The property is located at 8594 Excelsior Blvd. Mary Lindell of Christianson & Co. Commercial Real Estate Services represented the tenant. Jackie Taylor is bringing the StarCycle franchise from Oregon to Minnesota.

September 4, 2024

Acquisitions Michigan Midwest Multifamily Seniors Housing

Blueprint Arranges Sale of 374-Unit Continuing Care Retirement Community in Grand Rapids

by Kristin Harlow September 3, 2024

GRAND RAPIDS, MICH. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 374-unit continuing care retirement community in Grand Rapids for an undisclosed price. Samaritas, a Michigan-based nonprofit owner and operator, selected Blueprint to negotiate the disposition. Since its original construction in 1977, the 40-acre community has grown to include 24 independent living cottages, 148 independent living apartments, 17 assisted living units, a 60-unit memory care community and a 125-bed skilled nursing and long-term care facility. The buyer was Optalis Healthcare, a post-acute rehabilitation and long-term care provider across Michigan and Ohio. StoryPoint Group, another Michigan-based senior living provider, will manage the independent living community on the campus, formerly known as The Terraces.

September 3, 2024

Illinois Leasing Activity Midwest Office

Zynga Signs 14,000 SF Office Lease at Cumberland Centre in Chicago

by Kristin Harlow September 3, 2024

CHICAGO — Zynga Inc., a global interactive entertainment company known for its social games such as FarmVille and Words With Friends, has signed a 14,000-square-foot office lease at Cumberland Centre in Chicago. The relocation marks an expansion for Zynga, which previously leased 12,448 square feet in a nearby single-story office complex. Cumberland Centre is a three-story office building that has recently undergone significant renovations. The lobby area features modernized lighting, seating areas and pop-culture décor. Amenities under construction include common-area hallway upgrades, a building café and a tenant lounge. These enhancements are slated for completion in 2025. Jason Wurtz and Jack Reardon of NAI Hiffman represented the owner, Integris Ventures. Jim Rose of JLL represented the tenant.

September 3, 2024

Development Midwest Minnesota Office Retail

Asana Partners Redevelops Event Center in Minneapolis into Retail, Office Property

by Kristin Harlow September 3, 2024

MINNEAPOLIS — Asana Partners has completed The Saxon, a redevelopment project that transformed an existing event center into retail and office space in the North Loop neighborhood of Minneapolis. NELSON Worldwide served as the architect. The development team unified the building’s three sections, each built in different periods, into a cohesive retail and lifestyle destination. The redesign integrates retail spaces on the first and third levels with offices on the second. Solidcore is a retail tenant on the ground floor.

September 3, 2024

Acquisitions Indiana Midwest Restaurant Retail

Marcus & Millichap Brokers $4.5M Sale of Golden Corral-Occupied Property in Schererville, Indiana

by Kristin Harlow September 3, 2024

SCHERERVILLE, IND. — Marcus & Millichap has brokered the $4.5 million sale of a 10,582-square-foot restaurant property occupied by Golden Corral in Schererville, a city in northwest Indiana. Built in 2006, the asset is located at 915 Eagle Ridge Drive next to a Home Depot. Sean Sharko, Austin Weisenbeck and Daniel Chumbley of Marcus & Millichap represented the seller, a Chicago-based real estate investment company, and procured the buyer, an out-of-state real estate partnership. Josh Caruana, broker of record in Indiana, assisted in closing the transaction.

September 3, 2024

Leasing Activity Midwest Restaurant Retail Wisconsin

The Kickback Bar to Open at Middleton Market Food Hall in Wisconsin

by Kristin Harlow September 3, 2024

MIDDLETON, WIS. — The Kickback Bar, a bar and arcade with over 30 pinball and arcade games, is opening this Friday at Middleton Market Food Hall in the Wisconsin city of Middleton. Cardinal Capital Management Inc. owns the property. The Kickback offers rotating craft beer and seasonal craft cocktails. Food and additional games will be introduced in the coming weeks. Middleton Market continues to expand with food, retail and entertainment options.

September 3, 2024

Newer Posts

Older Posts