ST. PAUL, MINN. — Oak Grove Capital has arranged a $23 million HUD 221(d)(4) loan for the construction of West Side Flat Apartments in St. Paul. The property will contain 178 units on the corner of Fillmore Avenue and Wabash Street.
CHICAGO — Quantum Real Estate Advisors has arranged the $6.9 million sale of a 14,490-square-foot Walgreens property at 7901 S. Western Ave. in Chicago. Walgreens has 23 years remaining on its lease. Chad Firsel and Jordan Kaufman of Quantum Real Estate Advisors represented the seller, a private fund from Wilmette, Ill., in the transaction. The buyer was a private individual from California.
CHICAGO — Citadel has renewed its long-term lease for 222,416 square feet of office space at Citadel Center, a 1.4 million-square-foot high-rise in Chicago. The financial services company occupies the top six floors of the building. The building also houses J.P. Morgan Chase and three major law firms. Brian Whiting of The Telos Group and Mark Baby of J.F. McKinney & Associates represented the landlord, Dearborn Capital Group, in the transaction. Todd Lippman of CBRE Group represented the tenant.
KANSAS CITY, MO. — Ryan Transportation Group has acquired Glenwood I and Glennwood II, located on Metcalf Avenue in Kansas City. The office buildings, at 119,500 square feet and 151,900 square feet respectively, have been on the market since 2009. The building's major tenant, Embarq Corp. occupied the properties before the company sold and became CenturyLink. According to local reports, Deutsche Bank held a note on the buildings after the previous manager couldn't fill Embarq's vacancy. The seller hired Bob Fagan and Brent Roberts of CBRE Group to market the property. Ryan Transportation plans to occupy most of the space in 2013, following a renovation.
COLUMBUS, OHIO — Marcus & Millichap has arranged the $17.8 million sale of an eight-property U-Store-It self-storage portfolio for $17.7 million. The sale contains 3,232 units located throughout Ohio. Charles LeClaire and Brett Hatcher of Marcus & Millichap represented the seller in the transaction. The buyer is a Texas-based private investor.
CHICAGO — Walgreens opened its latest flagship store at 1601 N. Milwaukee Ave., in the historic Noel State Bank Building in Chicago. The company preserved much of the building's original architecture and even reused an old bank feature as a “Vitamin Vault.” Leopardo served as the general contractor for the project and Camburas & Theodore Architects provided architectural services. The Noel State Bank Building was constructed in 1919. The original bank fell victim to a run on the bank during the Great Depression. The building has housed several different banks over the decades, the last being Midwest Bank, which closed several years ago. The store will include a cafe and juice bar, a wine selection featuring more than 700 wines and expert eyebrow shaping and grooming services.
FORT WAYNE, IND. — Hall Aluminum Products has signed a lease for 47,668 square feet of industrial space at 2701 S. Coliseum Blvd. in Fort Wayne. The company designs, installs and repairs commercial architectural glass. Mike Dahm of NAI Harding Dahm represented the landlord, Wayne Coliseum Limited, in the transaction. He also represented the tenant.
LINCOLNSHIRE, ILL. — Retail Properties of America Inc. (RPAI) has sold an 818,686-square-foot office building in Lincolnshire that is fully leased to Aon Hewitt, for $148 million. Proceeds from the sale were used to repay $177.7 million in mortgage debt and accrued interest encumbering the entire Aon Hewitt campus. Following the sale, RPAI continues to own the remaining 343,000-square-foot Aon East Campus, which is fully leased to Aon Hewitt.
ROSEMONT, ILL. — Three new tenants have joined 600 Shafer Court, a 162,115-square-foot office building in Rosemont. The American Society of Plumbing Engineers, represented by Greg Witt and James Otto of CBRE Group, leased 7,076 square feet. Quattro FPO Solutions took 3,185 square feet and was represented by Peter Kelly of Lincoln Property Commercial. Haemonetics Corp., represented by Jon Azulay of Studley, leased 14,665 square feet. Jack Reardon of NAI Hiffman represented the owner in all three transactions.
KANSAS CITY, MO. — Smith Electric Vehicles US Corp. has renewed its lease for 80,000 square feet of industrial space at 9200 NW 112th St., Building 2 in Kansas City. The company produces zero emission commercial electric vehicles. David Hinchman, Mike Mitchelson, Joe Orscheln, Brian Staton and Nicki Garret of CBRE Group represented the tenant in the transaction. The landlord is the Kansas City Aviation Department.