NEW BERLIN, WIS. —Walmart Real Estate Business Trust has purchased a 0.5-acre parcel in New Berlin, a western suburb of Milwaukee, for its new supercenter development. Highland Memorial Park Inc. sold the land, which is located at 15355 W. Greeenfield Ave. and includes a residential house. Kevin Barry and James Young of Cassidy Turley Barry represented Highland Memorial Park in the transaction. Yoni Zvi of EDG 18 represented Walmart Real Estate Business Trust in the transaction.
CHICAGO — Essex Realty Group Inc. has arranged the $1.1 million sale of 7031 N. Ridge Ave., a 13-unit, walk-up building located in Chicago’s Rogers Park neighborhood. The property is situated on the southeast corner of Ridge and Greenleaf avenues, about three blocks west of the Rogers Park Metra Station and numerous CTA bus routes. The property includes a mix of five one- and eight two-bedroom units. Doug Imber and Kate Varde of Essex Realty represented the sellers, and Matt Welke, also of Essex, represented the buyer.
WAUKESHA, WIS. — Southwest Milwaukee Volleyball Club has signed a lease for 7,225 square feet at 1260 SW. Avenue in Waukesha, a western suburb of Milwaukee. Anthony Huenerbein of The Dickman Co. Inc./CORFAC International represented Southwest Milwaukee Volleyball in the transaction. Brian Parrish of PARADIGM Real Estate LLC represented the landlord, Tybecca LLC.
ALGONQUIN, ILL. — UC Funding has originated and structured an $11 million bridge loan for the construction of Riverside Plaza, a 63-unit, Class A apartment development in downtown Algonquin. When completed, each unit will feature hardwood floors, Italian cabinetry and porcelain tiling. Amenities at the community will include a fitness room, business center, clubroom, lobby doorman service, two elevators, storage lockers and heated indoor parking. Algonquin is located 45 miles northwest of Chicago. UC Funding is a national balance sheet provider of capital solutions involving both debt and equity. The Boston-based firm has closed more than $700 million in real estate investments during the last 18 months.
EAST LANSING, MICH. — Compass Self Storage LLC, a member of the Amsdell family of companies, has purchased a 52,000-square-foot self storage property in East Lansing. The storage center is located at 4200 Hunsaker St. Compass Self Storage will operate the facility, which offers drive-up storage unit access, climate-controlled units and moving and packing supplies. The property will be the ninth location for Compass in the greater Michigan market. The acquisition also marks the company's 10th self storage acquisition in 2013.
BURNSVILLE, MINN. — Dougherty Mortgage LLC has arranged a $3.2 million Fannie Mae loan for the refinancing of the Court Place of Burnsville Apartments in metro Minneapolis. The 40-unit rental townhome community is located at 13354 Court Place in Burnsville. Dougherty’s Minneapolis office arranged the 12-year, non-recourse loan for Court Place of Burnsville LLP.
ADDISON AND WESTMONT, ILL. — NAI Hiffman has represented JSQ Commercial in four separate lease transactions totaling more than 32,000 square feet of office space in suburban Chicago. At Brush Hill Office Courte, located at 740-770 Pasquinelli Drive in Westmont, MacNeal Health Providers Inc. expanded its lease for 15,237 square feet. Mid-American Group, an employee benefits consulting firm, expanded its lease for 6,208 square feet at the property. Cardinal Health also signed a new lease for 4,011 square feet. Brush Hill Office Courte includes four single-story office buildings totaling 112,229 square feet. In Addison, Shimadzu Corp., a manufacturer of scientific instruments, expanded its lease for 6,968 square feet at Centerwest Business Park, located at 2055 West Army Trail Road. The space is located within an 116,583-square-foot flex building directly off the I-355 and Army Trail Road interchange. Dan O’Neill, executive vice president, and Matt Novak, associate with NAI Hiffman’s office services group, represented JSQ Commercial in all four transactions. Tony Karmin of Transwestern represented MacNeal Health Providers; Ellen Steinbrecher of Lee & Associates represented Mid-American Group; and Pete Adamo of CBRE represented Cardinal Health. Vic Sanmiguel of Chicagoland Commercial represented Shimadzu.
KENOSHA, WIS. — Amazon.com Inc. has announced plans to open a 1 million-square-foot fulfillment center in Kenosha, a southern suburb of Milwaukee. At the new facility, Amazon employees will pick, pack and ship small items to customers like books, electronics or consumer goods. KTR Capital Partners is building the project, which will create more than 1,000 full-time when it opens, according to Amazon. The Seattle-based online merchant's plans for the distribution center was publicly confirmed when the Kenosha Common Council on Oct. 7 approved a plan for the city to spend $17 million through a tax incremental financing district, according to the Journal Sentinel. That money will be repaid within an estimated seven years by the distribution center's new property taxes.
NAPERVILLE, ILL. — Thorofare Capital has arranged $11.5 million in financing for the acquisition of a 242-room Wyndham hotel in suburban Chicago, which will be converted to a Sheraton. The hotel features 25,000 square feet of conference and ballroom space and is located in Naperville. Starwood Hotels & Resorts recently signed a 20-year franchise agreement for the property.
BARTLETT, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 32,580-square-foot Kentucky Fried Chicken/Taco Bell ground lease in Bartlett, a western suburb of Chicago. The property sold to a cash buyer from Illinois. A Chicago-based developer and property owner sold the property. The freestanding building is located at 960 Route 59 and is adjacent to The Home Depot. Chad Firsel of Quantum Real Estate Advisors Inc. represented the seller in the transaction.