BRAINERD AND BAXTER, MINN. — Eidco Construction will oversee a 4,700-square-foot interior fit-out for retailer rue21 at the Westgate Mall in Brainerd and Baxter. The project includes constructing a new storefront, interior partitions, electrical and light installation, the addition of a new washroom as well as completing graphics and signage. The fit-out is expected to be complete later this month.
MUSKEGON, MICH. — Essex Property Management has purchased a one-story, 199,785-square-foot manufacturing building at 2121 Latimer Dr. in Muskegon. Essex will use the facility as an addition to the manufacturing footprint of the Port City Group of Cos. in Western Michigan. The property includes 3,500 square feet of office space, five truck docks and parking for 115 vehicles. Rob Gemerchak of Binswanger represented the seller, Bekaert Corp. in the transaction.
Milwaukee ended 2011 with its sixth consecutive quarter of positive net absorption and more than 3 million square feet of absorption for the year. Xceligent Inc. reported that the Milwaukee industrial market ended 2011 with a vacancy rate of 7.6 percent, down from 8.6 percent at the end of 2010. The national industrial vacancy rate by comparison ended 2011 at 9.9 percent, according to CoStar Group. Hungry for space Of the 67 national industrial markets tracked by Cassidy Turley, 59 recorded positive demand for warehouse space. Milwaukee was among the top 10 performers along with Dallas, Indianapolis, Atlanta, Houston and Chicago, the latter of which only surpassed Milwaukee by 200,000 square feet in 2011. Milwaukee and Southeast Wisconsin continue to attract food industry manufacturers, distributors and packagers. Most recently, Seda International Packaging Co., an Italian firm, opened its North American headquarters in Pleasant Prairie. It joined other food retailers like Gordon Food Services and Affiliated Foods Midwest, which have opened distribution centers in the last 2 years. ALDI and Roundy’s Foods also both have distribution centers greater than 1 million square feet in Southeast Wisconsin. Janesville, Wisconsin also attracted Melster Candy, which relocated its manufacturing operations to a 100,000-square-foot plant, …
GLENDALE, WIS. — Opus Development Corp. will begin an expansion project for the Glendale headquarters of Weyco Group, a shoe distributor, later this month. Opus will construct a new building to link Weyco's main facilities to a newly acquired 80,150-square-foot warehouse adjacent to the property. The new construction and building purchase will result in 112,000 square feet of additional space. Construction on the project is scheduled for completion this October. The project will boost Weyco's total space to more than 1 million square feet.
CHICAGO — Atlanta-based Best Warehousing & Transportation Center has renewed its 56,051-square-foot lease at a West Chicago industrial facility owned by DCT Industrial Trust. Best Warehousing is a third-party logistics firm and the facility is its first location in Illinois. Brad Borkowski of HSA Commercial Real Estate represented the tenant in the transaction. David Prell and Kirk Armour of CBRE Group represented the owner.
MONROE, MICH. — MHOC LLC has purchased 1800 Frenchtown Center Dr., a 129,037-square-foot industrial facility in Monroe. Brad Viergever, Steve Gordon and Craig Herschel of Signature Associates represented the seller, Equity Industrial Monroe, in the transaction. Viergever and Jim Montgomery of Signature Associates also represented the seller.
OTUMWA, IOWA — GladStone Commercial Corp. has purchased a 352,869-square-foot bottling plant in Ottumwa for $7.1 million. The building is leased to the American Bottling Co. American Bottling is the largest operating subsidiary of Dr Pepper Snapple Group Inc., responsible for bottling and distributing beverage brands including Dr Pepper, 7UP, A&W, Snapple and Hawaiian Punch.
MADISON — WS Capital Partners has acquired the 474,000-square-foot Hilldale Shopping Center in Madison for $52 million, following a sheriff’s sale. WS Capital acquired the defaulted first and second mortgages earlier this year. The Hilldale Shopping Center opened in 1962 and has been expanded and renovated several times, most recently in 2006. Anchor tenants include Macy’s and Metcalfe’s Market. In 2007, actor Robert Redford selected the center as the home to the first Sundance Cinemas.
MAPLE GROVE, MINN. — Two new tenants have joined the Arbor Lakes North End building in Maple Grove. Elements Therapeutic Massage will occupy 2,150 square feet of ground-level retail space and Global Tax Network has leased 6,500 square feet of office space on the second floor. Kris Schisel and Molly Murnane of Colliers International represented Opus in the retail transaction. Jim Damiani, Brian Beltrand and Matt Delisle of Colliers International represented Opus in the office transaction.
NORTH BRANCH, MINN. — Marcus & Millichap has arranged the sale of Budget Host Inn & Suites, a 42-room economy hotel in North Branch. Jonathan Ruprai of Marcus & Millichap's Tampa office represented the seller, a financial institution. He also secured the buyer, a limited liability company.