WILLISTON, N.D. — Englewood Construction has broken ground on the Williston Brewing Co., a 12,000-square-foot restaurant and lounge that is attached to the 92-room El Rancho Hotel in Williston. The restaurant will include a casino, complete with video power and blackjack table, 65 flat-screen televisions, a mechanical bull, a wine room and private dining facilities with seating for 250 people. Minneapolis-based Studio M. Architects is providing architectural services.
PARMA, OHIO — Marcus & Millichap has arranged the $1.3 million sale of a 7,000-square-foot Advance Auto property in Parma. Brian Parmacek and Michael Glass of Marcus & Millichap represented the buyer, a partnership, in the transaction.
BEAVERCREEK, OHIO AND LIBERTYVILLE, ILL. — Griffin Capital Net Lease REIT has acquired two Midwest properties: a build-to-suit, Class A office property in Beavercreek for $17 million and a manufacturing and warehouse facility in Libertyville for $15.6 million. The office property is fully leased to Northrop Grumman Systems Corp. and is adjacent to the Wright-Patterson Air Force Base, the largest air force base in the U.S. The 194,000-square-foot industrial facility in Illinois serves as the North American corporate headquarters for Zeller Plastik USA. Zeller produces plastic closures and packaging components for food, beauty and beverage products. The complex is within the Lincoln Commerce Center business park.
COPLEY TOWNSHIP, OHIO — Concordia of Ohio has acquired the 280,185-square-foot Summer on Ridgewood, a continuing care retirement community in Copley Township, for $23 million. The property is 78 percent occupied and all resident contracts will be assumed by the new owner. The property features 22 independent living units, 79 garden apartments, 40 assisted living units and 48 skilled nursing beds. CLW Senior Housing represented the court-appointed receiver, Jeffrey T. Heintz of Brouse McDowell, in the transaction.
AUSTIN — Austin-based World Class Capital Group has acquired an eight-property self-storage portfolio totaling more than 450,000 square feet. The portfolio includes 3,400 units, which are primarily located in Dayton and Cincinnati. The seller was a publicly traded self-storage REIT. The sale marks the second portfolio acquisition for Wold Class Capital this year. In August, the company acquired a self-storage portfolio totaling 1 million square feet for a reported $35.5 million. The properties are located in Houston and Dallas.
INDIANAPOLIS — Vista Capital Co. has arranged $17.3 million in financing for the Crowne Plaza Union Station in Indianapolis. The full-service hotel is listed on the National Register of Historic Places. Crowne Plaza features 273 rooms, including 26 original Pullman Traincar sleeping rooms. A European-based investment bank provided the financing. The 10-year, fixed-rate loan will be used to fund a large renovation to modernize the hotel interior. The financing will also be used to retire the existing financing.
BEAVERCREEK, OHIO — Colliers International has arranged the $1.9 million sale of a freestanding Buffalo Wild Wings in Beavercreek. The 6,000-square-foot building was constructed in 1999 as a build-to-suit for Buffalo Wild Wings, which has 12 years remaining on its lease. Jeff Johnston, Chris Prosser and Steve Timmel of Colliers represented the seller in the transaction. Marcus & Millichap represented the buyer, a private California-based investor.
BURBANK, ILL. — A joint venture between Abbell Associates and Hutensky Capital Partners has acquired Burbank Station, a 303,566-square-foot shopping center in Burbank. The center is anchored by Food 4 Less, Babies R Us, HomeGoods, PetSmart, OfficeMax, The Sports Authority and Sam Ash Music. The center is located on Cicero Avenue, a densely populated south suburb of Chicago. The average household income within a three-mile radius is $61,500.
CHICAGO — Skender Construction recently completed three new seniors housing facilities in the Chicago area. The properties include the 72,000-square-foot Oak Hill Supportive Living Community, the 90,000-square-foot The Residences of Lake in the Hills and the 75,000-square-foot Lakefront Residences of Grayslake. Oak Hill is an independent senior living facility located in Round Lake Beach, Ill. The Crown Group developed the 94-unit community, which features a community dining room, theater, billiards room and therapy center. Residences of Lake in the Hills is a two-story seniors housing complex in Lake in the Hills, Ill. DKI developed the 92-unit property, which was designed by architect NORR. Lakefront Residences is a 70-unit affordable housing community developed by Mercy Housing Lakefront in Grayslake, Ill. The community is for adults over 55.
CARPENTERSVILLE, ILL. — Greystone has arranged a $4 million Fannie Mae loan for the acquisition of Spring Grove Apartments, a 108-unit community in Carpentersville. MCJ Spring Grove LLC acquired the property, located at 170 Golfview Lake, for $5.1 million. The property is 95 percent occupied. Sujal Parikh and Clint Darby of Greystone arranged the 10-year loan, which features a 4.2 percent interest rate and a 30-year amortization schedule.