WAUSAU, WIS. — Midway Hotel Club LLC has purchased the Best Western Midway Hotel at 2901 Hummingbird Lane in Wausau for $1.9 million. The seller was Midway Hotel Group LLC. The two-story hotel features 97 rooms. Amenities include two restaurants and a 10,000-square-foot atrium, pool, hot tub, game room and fitness center. Alok Gupta of @properties Commercial was the sole broker in the transaction.
ANN ARBOR, MICH. — Bloomfield Capital has sold a mixed-use building in downtown Ann Arbor to 212 4th Ave. LLC. Located at 210-216 S. Fourth Ave., the property consists of approximately 20,000 square feet of retail space on the first floor and loft office space on the second floor. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor, represented the seller and the buyer in the transaction.
BOLINGBROOK, ILL. — NorthMarq’s Chicago regional office has arranged $23.8 million in first mortgage refinancing for Greenleaf Apartments in Bolingbrook, located 30 miles southwest of Chicago. The 321-unit affordable housing community for seniors is located at 502 Kildeer Drive. The borrower is Greenleaf Limited Partnership. The 19.3-year loan is fully amortizing and was placed through AmeriSphere Multifamily Finance LLC, a Fannie May DUS Lender.
LIBERTYVILLE, ILL. — Paragon Real Estate has broken ground on two retail buildings at the southeast corner of Milwaukee Avenue and Artaius Parkway in Libertyville, a northern suburb of Chicago. Anchor tenant Trader Joe’s is scheduled to move into the entire 12,500-square-foot building at 1600 S. Milwaukee Ave. later this year. Oak Brook, Ill.-based Paragon is also developing an 8,100-square-foot, multi-tenant building divisible for up to three retailers at the south end of the three-acre parcel. A Mariano’s Fresh Market, Lowe’s, Staples and Starbucks are located across from the site, and a Jewel-Osco is located just north of the development. The site includes 130 parking spaces and two monument signs along Milwaukee Avenue, one for Trader Joe’s and the other for the multi-tenant retail. Paragon purchased the site in July 2012.
WHEATON, ILL. — Meridian Design Build was selected as general contractor for a planned 81,543-square-foot self storage facility in Wheaton for The Lock Up. The new four-story facility will be located adjacent to the Main Street Marketplace shopping center at the northwest corner of Main Street and Geneva Road. The building will include climate-controlled and drive-up units and feature covered loading bays. Peter Stadler and David Lukas of Meridian are coordinating the project. Partners in Design Architects are providing the architectural services. Watermark Engineering Resources Ltd. is providing the engineering services.
CHAMPAIGN, ILL. — Ramshaw Real Estate has leased 32,000 square feet of retail space to American Freight Furniture and Mattress. The new Champaign store is located in the Shops at Glenn Park, formerly Champaign Village, at 1810 Glen Park Drive. Current tenants at Shops at Glenn Park include Cost Cutters, LaVida Massage, State Finance, Coram Specialty Infusion Services, Apria Health Care, LaChic Nail Salon, State Finance, Open Road Pavement and O'Neil Brothers. American Freight now operates more than 80 stores in the United States. The retailer is a warehouse-style discount furniture store that specializes in furniture obtained through dealer cancellations, factory closeouts, retail chain buyouts and wholesale liquidations.
SCHERERVILLE, IND. — Regency Centers Corp., a national owner, operator and developer of grocery-anchored and community shopping centers, has begun construction on the $50 million first phase of Shops on Main in Schererville. Gordmans, Ross Dress for Less, HomeGoods and DSW Designer Shoe Warehouse will anchor the 147,851-square-foot community shopping center. The center is located at the intersection of two main arterial roads, U.S. Route 41 and Main Street, about 25 miles southeast of Chicago. Some of the anchors are scheduled to open in spring 2014. The first phase will include two retail buildings and five outparcels on 28 acres of the 35-acre site.
MINNEAPOLIS — The University of Minnesota and the Minnesota Vikings have agreed to terms on a facility use agreement that allows the Vikings to use TCF Bank Stadium for the 2014 and 2015 NFL seasons. The Vikings have agreed to pay University of Minnesota $300,000 per game ($250,000 for rent and $50,000 in concessions). The estimated costs are about $6 million, with the Vikings paying a maximum of $3 million to the University each NFL season. The agreement is in preparation for the football team’s new $975 million stadium, which is slated for completion by 2016. The team will play its last season at the Metrodome this year. The 30-year-old stadium will be demolished in 2014.
NAPERVILLE, ILL. — Principal Real Estate Investors has sold a 171,935-square-foot building in Naperville, located about 30 miles west of Chicago, to Reebie Moving and Storage. The purchase price was undisclosed. Reebie Moving & Storage purchased the two-tenant property to supplement its existing location in Chicago. The building, which is located at 720 Frontenac Road, includes 61,000 square feet available for lease. The facility offers a clear ceiling height of 24 feet, easy access to I-88 and on-site trailer parking. Mark Moran, and John Whitehead with NAI Hiffman’s industrial services group, represented Principal Real Estate Investors in the transaction. Kelly Disser also with NAI Hiffman represented Reebie Moving and Storage.
FERNDALE, MICH. — Genius Services Inc. has signed a lease for 29,004 square feet of industrial space located at 1450 Academy in Ferndale, a northern suburb of Detroit. John Boyd of Signature Associates represented the tenant, Genius Services Inc., in the transaction.
