APPLETON, WIS. — Heartland Dental has signed a lease for 3,358 square feet of space at 3818 E. Calumet St. in the Qdoba Plaza in Appleton. Tom Treder of Commercial Property Associates represented the landlord, PH East Appleton, in the transaction. He also represented the tenant.
ANTIOCH, ILL. — Marcus & Millichap has arranged the $720,000 sale of Joanna Court Apartments, located at 287 and 299 Joanna Court in Antioch. The property includes two, 12-unit apartment buildings built in 1971. Jim Walsh of Marcus & Millichap represented the seller, a private equity firm. David Gaines and Alex Blagojevich of Marcus & Millichap represented the buyer, a private investor.
ST. PAUL., MINN. — Dominium has closed on a $48.2 million construction loan and a $24.3 million letter of credit to finance the Schmidt Brewery Artist Lofts, an adaptive reuse of the historic Schmidt Brewery in St. Paul. U.S. Bank provided the financing. The Schmidt Brewery Artist Lofts will contain 260 units designed to suit the needs of artists. Common amenities will include a yoga studio, pottery studio, paint studio, kiln room, tool shop and multiple gallery spaces. Construction is set to begin by the end of this month and the project is slated for completion in 2014. Weis Builders is the general contractor and BKV Group is the architect.
TAYLOR, MICH. — The Salvation Army has signed a lease for 30,162 square feet of space at the former Farmer Jack store, located at 9850 Telegraph Road in Taylor. Adam Goodman and Susan Acciaioli of Mid-America Real Estate-Michigan Inc. represented the landlord, NW-Taylor Farmer Jack, in the transaction.
CHICAGO — The Bedding Experts, a mattress retailer, has signed a lease for 1,500 square feet of retail space at 1103-1155 S. State St. in Chicago. The property is located at the intersection of Roosevelt and State streets. Michael Meksto and Jim Tsevis of NAI Hiffman represented the landlord, Supervalu Inc., in the transaction.
MINNEAPOLIS — Marcus & Millichap has arranged the $368,280 sale of 2424 4th Ave. South, an 8-unit apartment property in Minneapolis. Lance Linander of Marcus & Millichap represented the seller, a private investor. He also represented the buyer, a limited liability company.
The Twin Cities retail market continues to steadily improve from the economic depths of 2008 and 2009. There has been 549,194 square feet of positive absorption since the first quarter of 2011. Another encouraging sign is the increased activity among landlords, tenants and developers. One example of the positive outlook is the investment that landlords are making at regional malls to upgrade and reposition them. The Mall of America in Bloomington seeks to add 550,000 square feet of retail, medical office and hotel space. Southdale Mall, Ridgedale Mall, and Maplewood Mall are also investing in their centers to better compete in this rising market. Another sign of increased activity can be seen among food tenants. Quick service restaurants are betting that Minneapolis-St. Paul residents have a large appetite for yogurt, sandwiches, and burgers and are actively seeking space. Burger and sandwich concepts include Smashburger, Which Wich, Firehouse Subs, and Freddy’s, which are growing in popularity along with Freeziac, Tutti Frutti, Menchies, and CherryBerry yogurt shops. Also active are Noodles, Chipotle, and Starbucks. These types of tenants have gobbled up smaller spaces and end-cap spaces vacated by tenants such as defunct Hollywood Video and Blockbuster. They are pursuing the same spaces …
ST. LOUIS — McGrath & Associates has completed the $11 million renovation of the intensive care unit (ICU) on the fourth floor of Barnes-Jewish Hospital in St. Louis. The 36,700-square-foot renovation includes 36 new ICU rooms, patient care stations, support areas and family waiting areas. McGrath also installed three new mechanical units. The Lawrence Group was the architect.
WIXOM, MICH. — R2 Energy Inc. has signed a lease for 21,500 square feet of industrial space at 30110 Wixom Road in Wixom. R2 Energy specializes in alternative energy solutions, such as wind, solar and waste conversion. Jim Montgomery and David Giltner of Signature Associates represented the landlord, International Wixom, in the transaction.
COLUMBUS, OHIO — Accounting firm Clark, Schaefer, Hackett & Co. has signed an office lease for 18,363 square feet at 4449 Easton Way in Columbus. Randy Stephens and Doug Falor of CassidyTurley represented the landlord, Equity Office, in the transaction. Wayne Asmus of RJ Boll Realty represented the tenant.