LEWIS CENTER, OHIO — A private developer has sold a 6,890-square-foot strip center in Lewis Center, located about 20 miles north of Columbus, for $1.9 million, or $276 per square foot. The retail property was fully occupied at the time by Starbucks, Verizon Wireless and Pizza Hut. The buyer was undisclosed. Mark Luttner of Luttner Real Estate Investment Services marketed the property on behalf of the seller.
ROGERS, MINN. — Gander Mountain has signed a 30,000-square-foot lease at 20870 Rogers Drive in Rogers, located about 25 miles northwest of Minneapolis. Gander, an outdoor gear retailer, is occupying a former Best Buy location, which opened Tuesday. Tricia Pitchford, Kim Meyer and Brad Kaplan of Cushman & Wakefield/NorthMarq represented the landlord, LaSalle Investment Management, in the lease transaction. John Ferlita of CBRE represented Gander Mountain.
INDIANAPOLIS — Neher Group South LLC has sold a 23,395-square-foot office/showroom facility located at 7427 Company Drive in Indianapolis. The freestanding facility is situated on a two-acre site. The building was primarily used as an office/distribution facility. Mark Writt of CBRE represented the seller in the transaction. The purchase price was undisclosed.
RIVERSIDE, MO. — Yanfeng USA Automotive Trim Systems, a Michigan-based subsidiary of Yanfeng Visteon, has announced its plans to construct a $45 million production facility in Riverside, a northern suburb. The new facility is expected to create 263 new local jobs. Construction on the 258,000-square-foot plant is set to start next month, and the facility is scheduled to become operational in early 2014. The manufacturing operation supplies parts to General Motors Co. and Chrysler Corp. The Riverside plant will manufacture interior trim components, such as door panels, floor consoles and instrument panels for the General Motors plants in Wentzville, Mo. and Fairfax, Kan.
NEW HOPE, MINN. — NorthMarq Capital has arranged $11.5 million in first mortgage refinancing for Broadway Village Apartments, a 252-unit, market-rate multifamily property located at 6020-7240 Broadway Ave. in New Hope, a northwest suburb of Minneapolis. Financing was based on a 10-year term and a 30-year amortization schedule. Daniel Trebil of NorthMarq arranged the loan for the borrower through its seller-servicer relationship with Freddie Mac.
HOPKINS, MINN. — Citrus Systems Inc., a privately owned, Minnesota-based manufacturer of packaged fruit juices and beverages, has signed a lease for 132,000 square feet of space at Cornerstone Business Center in Hopkins, a southwest suburb of Minneapolis. Citrus Systems will expand its operations by 50,000 square feet and relocate from its current facility at 125 Jackson Ave. this fall. With this lease, Cornerstone Business Center, a 222,194-square-foot, Duke Realty-owned and managed industrial building is fully occupied. Duke Realty’s in-house construction team will serve as general contractor for the build-out of Citrus Systems’ new space. Tom Bennett and Jack Tornquist of CBRE represented Citrus Systems in the transaction. Scott Moe, Brad Bohlman and Paul Bickford of Colliers International represented Duke Realty.
LOMBARD, ILL. — Marcus & Millichap has arranged the sale of a 12,440-square-foot mixed-use property located in Lombard, about 20 miles west of Chicago, for $850,000. The buyer, a local property investor, was secured and represented by James Clough of Marcus & Millichap. Brian Kochendorfer of Sperry Van Ness represented the seller, a family partnership that developed the property. The asset is located at 145 S. Main St. and includes 23 units. The property consists of two buildings: the front building has four commercial units, eight studio apartments, and eight one-bedroom units; the rear building is a converted house with two one-bedroom units and one two-bedroom unit.
BROOKFIELD, WIS. — Hendricks Commercial Properties LLC has purchased the Gateway Business Center in Brookfield for $6.1 million. The 72,510-square-foot technology and flex center is located at 3235-3275 Intertech Drive, about 12 miles west of Milwaukee. The seller was Westminster Gateway LLC. Tom Shepherd of Colliers International | Wisconsin represented the seller. The two-building multi-tenant center was built in 1997 and is anchored by TW Telecom, a networking and data solutions provider. Hendricks was self-represented in the transaction
CHICAGO — Marcus & Millichap has arranged the sale of a 3,975-square-foot mixed-use property in Chicago. The list price for the property was $1.2 million. The building is located at 3439 North Halsted in the Lakeview neighborhood of Chicago and includes one retail unit occupied by Buck’s, a bar, and two floors of apartments. Stephen Rachman and Kyle Stengle of Marcus & Millichap represented the seller, an individual/personal trust, and the buyer, a private investor who plans to rebrand the bar. Recent capital improvements to the property include a new roof and windows, updated porches, some plumbing work, installation of circuit breakers and dry wall/fireproof basement walls.
OAK BROOK, ILL. — Toymaker TOMY International is relocating its North American headquarters to the Commerce Plaza office complex in Oak Brook, a western suburb of Chicago. TOMY, which is moving from the nearby 1111 W. 22nd Street building has signed a long-term lease with Arden Realty Inc. for 24,649 square feet at 2015 Spring Road. By moving to Commerce Plaza, TOMY is able to create a more open, creative and updated work environment in terms of technology and design, according to Randy Peltier, vice president of marketing, technology and operations at Jones Lang LaSalle (JLL). Todd Schaefer of JLL represented TOMY, which manufactures and markets toys under popular and classic licensed properties, in the transaction. Laura Quayle of Arden Realty and Jeff Shay, Bruce Renwick and Karla Harmon of JLL represented Arden.