SAINT CLOUD, MINN. — Marcus & Millichap has arranged the sale of a building occupied by Advance Auto Parts for $1.3 million in Saint Cloud, located about 65 miles northwest of Minneapolis. The 6,830-square-foot, net-leased property is located at 2550 2nd St. Matthew Hazelton and Adam Prins of Marcus & Millichap represented the seller, an individual/personal trust. An outside brokerage represented the buyer, an individual/personal trust, in the transaction.
LINCOLNSHIRE, ILL. — Meridian Design Build has completed a 100,280-square-foot building expansion to Kubota Engine America’s headquarters in Lincolnshire. The expansion includes 81,880 square feet of additional plant/warehouse space and 18,400 square feet of space designed to serve as future offices. Site improvements were also completed to create more employee parking to accommodate Kubota’s future growth. Kubota is a manufacturer of compact diesel and gasoline engines. Timothy Morgan Associates provided architectural services for the project, and Manhard Consulting completed the civil engineering work.
HOFFMAN ESTATES, ILL. — LPC Realty Advisors, on behalf of a pension fund client, has purchased Greenspoint Office Park, a three-building, Class A office portfolio, for $23.5 million. The office property, which spans 489,635 square feet, includes Barrington Pointe building, 148,385 square feet; Greenspoint I, 202,838 square feet; and Greenspoint III, 147,412 square feet. The properties are located at 2300 N. Barrington Road, 2800 W. Higgins Road and 2895 Greenspoint Parkway at the interchange of Interstate 90 and Barrington Road. HFF represented the seller, Multi-Employer Property Trust, in the transaction.
BLOOMSDALE, MO. — McGrath & Associates has completed construction of the $5 million Bloomsdale Medical Center, an expansion of Ste. Genevieve County Memorial Hospital in Bloomsdale, located about 50 miles south of St. Louis. The new facility is a regional center for women’s and family health. The center offers diagnostics, breast care and imaging with five exam rooms, digital mammography, as well as conference rooms and a massage area. Archimages was the architect.
COMMERCE TOWNSHIP, MICH. — Bernard Financial Group has arranged a $2 million loan for a building occupied by CVS/Pharmacy. The 10,880-square-foot building is located in Commerce Township, about 35 miles west of Detroit. The borrower is Bogie Commerce Associates II LLC. Dennis Bernard and David Dismondy of Southfield, Mich.-based Bernard Financial Group originated the loan.
CHICAGO — Chicago law firm Franczek Radelet P.C. has signed a 10-year extension of its 36,113-square-foot lease at 300 S. Wacker Drive in Chicago. The 512,350-square-foot, 35-story 300 S. Wacker building is currently 90 percent occupied. Melissa Rubenstein and John Beason of Jones Lang LaSalle represented the building’s owner, an affiliate of Norfolk, Va.-based Harbor Group International, in the transaction. Corby Marx, and Michael Marrion of Transwestern represented Franczek Radelet.
ST. PETERS AND ARNOLD, MO. — Northern Tool + Equipment has signed two, 10-year retail leases in metro St. Louis. One lease was for a 15,061-square-foot building in the Cave Springs Shopping Center, located at 4055 Veterans Memorial Parkway in St. Peters about 30 miles west of St. Louis. Mike Swearngin of Pace Properties represented the landlord in the St. Peters transaction. The second lease was for a 15,631-square-foot building, located at 233 Arnold Crossroads Center in Arnold about 18 miles south of St. Louis. Tom Egan of Wm. Boudoures Co. represented the landlord in the Arnold transaction. Burnsville, Minn.-based Northern Tool + Equipment has more than 70 locations in 14 states and sells a wide variety of products, ranging from consumer goods to industrial and construction equipment. Venture Commercial represented Northern Tool in both transactions.
UNION TOWNSHIP, OHIO — Capital Investment Group Inc. has broken ground on the $13 million Lofts at Ivy Pointe, a 133-unit multifamily community in Union Township, located about 20 miles east of Cincinnati. The four-story building will include one- and two-bedroom apartments. Amenities include a pool, clubroom and fitness center. Thompson Thrift Construction is serving as the project’s general contractor.
SCHAUMBURG, ILL. — Inland Private Capital Corp. (IPCC) has sold a 100,773-square-foot retail property, located at 905-915 E. Golf Road in Schaumburg, for $12.4 million. The property is anchored by Bed, Bath & Beyond and Golfsmith and is located near Woodfield Mall. Prior to completion of the sale, an affiliate of IPCC renegotiated and extended the leases of Bed, Bath & Beyond and Golfsmith through Jan. 31, 2023 and Sept. 20, 2017, respectively. Affiliates of Inland offered tenant-in-common interests in the property to a group of investors in a private offering in 2004 and continued managing the property on their behalf.
CHICAGO — The Blackhawk Investment Group LLC has acquired 2147 and 2151 W. Evergreen Ave. in Chicago for $5.7 million. Blackhawk purchased the properties from Chicago-based MCZ Development. The properties include 16 units with granite countertops, stainless steel appliances, Kohler fixtures and garage parking for all units. Blackhawk financed the acquisition with a long-term, fixed-rate Fannie Mae loan originated by Walker & Dunlop. The property was fully leased at the time of sale.
