CARY, ILL. — Quantum Real Estate Advisors has arranged the sale of a vacant, 6,520-square-foot former Blockbuster Video property at 536 Northwest Highway in Cary. The property was sold to a local Meineke franchisee for $825,000. Jordan Kaufman of Quantum Real Estate Advisors and Peter Caruso of Mid-America represented the seller, a group of private individuals from California, in the transaction. Ryan Samuelson of Corcoran Commercial Real Estate represented the buyer.
ELK GROVE VILLAGE, ILL. — NAI Hiffman has arranged industrial lease transactions totaling 55,000 square feet in Elk Grove Village. In the largest of the three deals, Rational Cooking renewed its lease for 24,000 square feet at 1645 Greenleaf Ave. At 1485 Greenleaf Ave., Cristall Thread & Supply signed a new lease for 12,000 square feet. The company, a sewing threads and supplies provider, required a larger space and is moving from its former location at 690 Lunt Ave. Joe Bronson of NAI Hiffman represented the landlord, Mirvac, in both transactions. Rob Wheeler of Cresa Partners represented Rational Cooking and Tom Gath of Grubb & Ellis represented Cristall. Additionally, Land Air Express renewed its lease for 19,424 square feet at 2300 Estes Ave. Bronson represented the tenant. Prologis, the landlord, was self-represented.
LINCOLNSHIRE, ILL. — An affiliate of Cole Real Estate Investments has purchased Sysmex Corporate Center, a 162,739-square-foot office property in Lincolnshire, for $49.7 million. The Class A facility is fully occupied and triple-net leased to Sysmex American Inc., for its North and South American headquarters. The company develops and sells clinical laboratory equipment. Jeff Bramson, Jaime Fink and Mark Katz led the HFF team that represented the sellers, Bridge Development Co. and Globe Corp., in the transaction.
EVANSVILLE, IND. — Thompson National Properties LLC has acquired The Reserve, a 158-unit apartment complex at 700 Reserve Blvd. in Evansville. The 169,633-square-foot property is fully occupied. Units average 1,100 square feet and feature hardwood flooring and stainless steel appliances. Amenities include a clubhouse and swimming pool. David Gaines and Alex Blagojevich of Marcus & Millichap represented the seller, SC Bodner Co. Inc.
GREEN BAY, WIS. — Stag Industrial has acquired a 200,000-square-foot warehouse and distribution facility near Green Bay for $9.3 million. The building is fully leased to a logistics company, which has five years remaining on its lease. The acquisition brings Stag's total acquisition volume to approximately $174 million.
KANSAS CITY, MO. — GoldOller Real Estate Investments has acquired The Crossing At Barry Road, a 624-unit apartment building in Kansas City, for $55 million. With its acquisition, GoldOller now owns and manages approximately 2,000 units in metropolitan Kanas City and ranks among the city's largest residential landlords. The property contains two resort-style swimming pools, a tennis court, and clubhouse.
CINCINNATI — Cincinnati's Asian Supermarket is undergoing a major expansion at its current location in the Village Crossing Center at 10400 Reading Road in Evendale. The market will expand to 30,812 square feet, nearly doubling its current size. The new international market is slated for completion prior to Christmas 2012. Cindy Metz of NAI Bergman negotiated the 11-year lease. The market includes produce, meat and fish from Japan, Korea, Vietnam, Thailand, India, the Philippines and Indonesia.
WEST CHESTER, OHIO — SK Realty Management has acquired a 970,000-square-foot office complex in suburban Cincinnati, which serves as the headquarters and distribution facility for Cornerstone Brands, for $49.6 million. The complex is located in the Union Centre Commerce Park in West Chester, along the I-75 corridor between Cincinnati and Dayton. The complex has been home to Cornerstone Brands since its completion in 1999. Along with office and distribution space, the building also contains 61,800 square feet of retail space. Suzanne Martinez and Matt Hoffman of Avison Young represented the seller, Inland American, in the transaction.
SOUTH BEND, IND. — Holladay Properties and an unnamed joint venture partner have purchased the former 529,137-square-foot AJ Wright building, located at 1905 W. Sample St. in South Bend. The new owners named the property Interstate 80 Commerce Center and aim to attract a national and regional tenant mix that provides services to the Midwest. The property is located near I-80 and was developed in 2005 as an AJ Wright distribution center. The facility features 24,547 square feet of office space, 88 docks and 32- and 46-foot ceiling heights.
PLYMOUTH AND BROOKLYN PARK, MINN. — Three of Duke Realty Corp.'s tenants have expanded their leased space by 85,994 square feet, bringing two of the company's industrial properties to full occupancy. Ferguson Enterprises, a plumbing products supplier, renewed its 210,418-square-foot lease at Medicine Lake Industrial Center at 975 Nathan Lane in Plymouth. The company also expanded its lease by 49,994 square feet. Graybar Electric Co., an electrical products provider, expanded its lease space at Crosstown Business Center 12 in Brooklyn Park to 24,000 square feet, bringing the total square footage it leases to 144,048 square feet. In the same building, Industrial Netting, a supplier of plastic netting and precision metal mesh, renewed its 84,000-square-foot lease and increased its square footage by 12,000 square feet. These leases, along with a recent new lease by Archway Marketing, bring the Crosstown Business Center 12 to full occupancy.
