CHICAGO — Summit Design + Build has been selected to expand Little Goat, a diner, bar and bakery at 820 W. Randolph St. in Chicago. Stephanie Izard and BOKA Restaurant Group are the owners and developers of the project. Izard is the season four winner of “Top Chef,” a reality show that airs on the TV network Bravo. Little Goat is the second restaurant opened by Izard and BOKA in Chicago. Construction plans include stripping down the 10,000-square-foot building to the bare structure, installing a new elevator and adding square footage to the second floor. The build-out will include multiple custom kitchens, a 100-seat diner and a barista bar. Jonathan Splitt Architects is the project architect and Toronto-based Anacleto Design is the project designer. Construction is scheduled for completion in the third quarter of this year.
SAVAGE, MINN. — The Silver Group has arranged the $7.4 million sale of a single-tenant Walgreens at 4205 County Rd. 42 in Savage. Walgreens has approximately 21 years remaining on its lease. Barry Silver of The Silver Group represented the seller, a developer, in the transaction. The buyer was a family trust.
COLUMBUS — Qual-Med Supply has signed a 30,000-square-foot industrial lease at 2775 Westbelt Dr. in Columbus. Doug Falor of Cassidy Turley represented the tenant in the transaction. The landlord is Trident Capital Group.
GRAYLING, OSCODA, MICH. — Kmart Corp. has extended two store leases at shopping centers owned by Agree Realty Corp. in Grayling and Oscoda, Mich. The lease extension are for two years. Both locations are freestanding stores which opened in 1984. The Grayling store is 52,320 square feet and the Oscoda store contains 90,470 square feet. The extended leases will expire on Sept. 30, 2014.
ANN ARBOR, MICH. — Beech Street Capital has arranged a $10 million CMBS loan to refinance Corner House Lofts, a 133-bed student housing property on the University of Michigan campus. Built in 2004, the seven-story property has a ground floor of commercial space in a separate condominium that is leased to Buffalo Wild Wings. The fixed-rate CMBS loan is for 10 years with a 30-year amortization schedule. Joel Mazur, vice president of Beech Street Capital's Chicago office, originated the transaction and secured the financing.
TOPEKA, KAN. — IRET Properties, the operating partnership of Investors Real Estate Trust, has completed the purchase of Villa West Apartments in Topeka for $17.6 million. The property includes 44 apartment buildings with 308 apartment units. As part of the company's strategic plan to own 10,000 units in its top 10 core markets, the acquisition brings the total number of units owned by IRET in the Topeka market to 1,042. The company also announced construction is nearly complete on its 159-unit Quarry Ridge II apartment development in Rochester, Minn.
ALEXANDRIA, MINN. — The Boulder Group has completed the $5 million sale of a single-tenant, net-leased Walgreens located at 910 Broadway St. in Alexandria. The 14,820-square-foot retail building was developed in 2008. Walgreens has 21 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest family trust, in the transaction. They also represented the buyer, a Chicago-based investment firm.
BIRMINGHAM, MICH. — Related Birmingham LLC has sold a 32,487-square-foot former Borders Books at 34300 Woodward Ave. in Birmingham. Susan Acciaioli and Brad Rosenberg of Mid-American Real Estate-Michigan represented the buyer, a local private investor, in the transaction. They also represented the seller.
ELYRIA, OHIO — Elyria Hotels Inc., a regional hotel owner and operator, has acquired the 248-room Ramada Inn Elyria Ohio for $1.1 million. The hotel includes a restaurant, lounge and more than 10,000 square feet of meeting space. The new owner plans to keep the property under the Ramada brand and begin renovations to the guest rooms and public areas. Ed James and Lance Potter of Mumford Co. represented the seller, an institutional entity, in the transaction.
DETROIT — The Roasting Plant, a New York-based coffee retailer, will open its first store outside of Manhattan this fall in Detroit's First National Building. Located at 660 Woodward, the first-floor shop will include on-site roasting and both indoor and outdoor seating. The Roasting Plant will offer 11 bean choices daily and use its Javabot system to individually create each customer's drink. Rock Ventures LLC, a real estate company owned by Quicken Loans founder Dan Gilbert, purchased the 800,000-square-foot First National Building in August 2011. Bedrock Real Estate Services represented both parties in the lease transaction.