SAVAGE, MINN. — Work is completed on the new Savage Sports Center, a 108,100-square-foot seasonal athletic facility, located in Savage Community Park. The air-inflated structure houses three fields, three batting cages and golf netting. An attached 5,000-square-foot building houses a concession area, lounge, restrooms and offices. The City of Savage owns the center, which will be open from November to April. The city constructed the property to provide indoor training space for local youth athletic groups and expand recreational activities for the city.
INDIANAPOLIS — Johnson Capital has arranged an $11.2 million permanent loan for a Class A 148-unit multifamily property in Indianapolis. The garden-style complex is approximately 10 years old. The units are spread across more than 20 buidlings and amenities include a swimming pool and fitness center. The property is owned by a Midwest-based commercial real estate company. Kent Carpenter of Johnson Capital arranged the 10-year loan through Fannie Mae.
LYNDHURST, OHIO — Granite City Food & Brewery has leased 10,921 square feet of space at Legacy Village in Lyndhurst. The full-service restaurant and brewery will join tenants such as Cheesecake Factory and Bar Louie in early 2013. This is the company's second location in Ohio, with 28 other locations in the Midwestern states. Tori Nook of Kowit & Passov Real Estate Group represented the tenant in the transaction.
TOLEDO, OHIO — The Historic Hillcrest, a nine-story apartment building in Toledo, has sold for $2 million. The property was originally built as a hotel in 1927. In 1999, the building underwent a $12 million conversion to include 106 apartment units, with floor plans that average 1,025 square feet. The building also contains 8,000 square feet of vacant commercial space on the street level. Cary Belovicz of Commercial Property Advisors represented the seller in the transaction.
CHICAGO — Broadstone Net Lease (BNL) has acquired 11 Kentucky Fried Chicken restaurants throughout Chicago in a sale-leaseback transaction. All of the sites are master leased on an absolute net basis for 14 years. The acquisition is in line with BNL's strategy to grow its office, industrial and restaurant holdings. Since late June, the company has acquired 21 net leased properties for a combined $38.3 million.
COLUMBUS, OHIO — The Shoppes of Galloway, a 28,538-square-foot retail plaza in Columbus, has sold to a private group based in Youngstown, Ohio, for $3.3 million. The property was constructed in 2004 and is 90 percent occupied. Tenants include Chase Bank, Verizon Wireless and Great Clips. Dan Cooper of Cooper Commercial Investment Group represented the sellers, a private group based in CIncinnati. He also secured the buyers.
NAPERVILLE, ILL. — Property Dynamics has acquired a fully leased, 43,762-square-foot retail property in Naperville for $4.5 million. Tenants include The Title Shop and Buffalo Wings & Rings. Jeffrey Kowal of Edge Mark LLC represented the buyer in the transaction. The seller was Inland Hartford Plaza LLC.
NILES, ILL. — Private independent Asian buffet restaurant, Niles Buffet Inc., has signed a lease for 9,600 square feet at Dempster Plaza in Niles, a northern suburb of Chicago. The restaurant is taking the current Old Country Buffet space at the plaza, which is due to close at the end of the year. Niles Buffet plans to open in March 2013. Liz Krebs of Mid-America Asset Management Inc. represented the landlord in the transaction. Jack Siragusa of Cushman & Wakefield represented the tenant.
CHICAGO — Tandem Construction has started work on a 2,000-square-foot addition to The Academy of Scholastic Achievement, a public charter school located at 4651 W. Madison St. in Chicago. When complete, the new space will serve as a science lab. Tandem expects the project will be complete at the end of January 2013. Red Architects is designing the project.
CRYSTAL LAKE, ILL. — Marcus & Millichap has arranged the sale of The Keep Self Storage, a 541-unit self-storage facility in Crystal Lake. Terms of the sale were not disclosed. Sean Delaney of Marcus & Millichap represented the seller, the family that had originally developed the property in the late 1970s. He also secured the buyer, a limited liability company. Keep Self Storage is located at 7209 Teckler Blvd. and will be rebranded as Next Door Storage. The 59,225-square-foot facility is situated on 4.1 acres.