INDIANAPOLIS — The Boulder Group has completed the sale of a triple-net-leased property located at 9240 Rockville Road in Indianapolis for $5.7 million. Walgreens occupies the 14,820-square-foot building, which has 15 years left on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction. The buyer was a Texas-based private investment firm.
OAK BROOK, ILL. — Federal Signal has signed a lease renewal for its 17,282-square-foot office in Oak Brook Regency Towers in Oak Brook, a suburb of Chicago. Federal Signal is a designer and manufacturer of products and solutions that serve municipal, government, industrial and institutional customers and has been headquartered at the property for more than 25 years. Patrick Kiefer, executive director with NAI Hiffman’s office services group, represented the landlord, American Realty Advisors, in the transaction. Jeff Liljeberg of Jones Lang LaSalle represented Federal Signal.
MOUNT PROSPECT, ILL. — KTR Capital Partners has purchased 1660 Wall Street, a 108,732-square-foot warehouse/distribution building in Mount Prospect, located about 22 miles northwest of Chicago. Situated at the intersection of Algonquin and Elmhurst roads, the building is part of The Alter Group’s Lake Center Corporate Park. The property features 30-foot ceilings, 19 exterior truck docks, two drive-in doors and 16 trailer parking stalls. EnTrust Realty Advisors LLC, an affiliate of The Alter Group, was the seller. The purchase price was undisclosed.
BIRMINGHAM, MICH. — Bernard Financial Group has arranged a $12 million loan for Merrillwood Building, a mixed-use property located at 225 E. Merrill St. in Birmingham, about 20 miles north of Detroit. The property includes 54 multifamily units and 42,344 square feet of office/retail space. Merillwood Building LLC was the borrower. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan. Goldman Sachs Commercial Real Estate LP provided the loan.
COLUMBUS, OHIO — Syracuse, N.Y.-based McFarland Development has acquired a 4.5-acre retail parcel in Columbus. The property is located adjacent to the new Hollywood Casino and will become part of Restaurant Row, which groups national restaurants in a town center setting across the United States. Location Finders International of Mokena, Ill., represented the seller, West Highland Plaza, in the transaction. Blair Gilbert, managing director of KW Commercial Real Estate, represented McFarland Development.
CHICAGO — Essex Realty Group, Inc. has arranged the $1.4 million sale of a mixed-use property located at 2200 W. Lawrence Ave. in Chicago’s Lincoln Square neighborhood. The 12,500-square-foot property was vacant at the time of the sale. The building is situated on the northwest corner of Lawrence Avenue and Leavitt Street, within walking distance of the Western and Damen CTA brown line stations. Doug Fisher and Matt Welke of Essex represented the seller and Jim Darrow and Jordan Gottlieb of Essex represented the buyer in the transaction.
DEARBORN HEIGHTS, MICH. — Landmark Commercial Real Estate Service Inc. has arranged the $7.9 million sale of a retail property in Dearborn Heights, about 15 miles west of Detroit. Walgreens fully occupies the property, which is located at 25700 Ford Road. Daniel Kukes and Kevin Baker of Landmark Commercial Real Estate Services Inc. represented the buyer, a non-traded REIT, in the transaction. John Kello, also of Landmark, represented the seller, a Michigan-based developer.
BOWLING GREEN, OHIO — The Boulder Group has completed a sale of a 4,495-square-foot, single-tenant property located at 745 Innovation Drive in Bowling Green for $1.2 million. The Social Security Administration fully occupies the property and has more than nine years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a 1031 tax-deferred exchange partnership based in Colorado. The seller was an individual based in Michigan.
ST. LOUIS, MO. — Plumbers Supply Co. (PSC) has purchased a 51,000-square-foot building located at 4500 Swan Ave. in St. Louis for $975,000. PSC will move from its current 30,000-square-foot headquarters at 6135 Horton Place in University City to its new location in September. Jake Shepley of Hilliker Corp. represented the buyer.
DES PLAINES, ILL. — Entre Commercial Realty LLC has brokered an industrial lease for 34,106 square feet at 2064 South Mannheim Road in Des Plaines, a northwest suburb of Chicago. Process Gear, a 60-year old company that creates custom manufacturing products, is relocating from Schiller Park to the industrial property. Tom Boucher and Dan Benassi of Entre Commercial Realty LLC represented the landlord and Ed Lowenbaum of Lowenbaum REP represented the Process Gear in the transaction.
