CLEVELAND — Cooper Commercial Investment Group has arranged the $1.3 million sale of an Advance Auto Parts property on Borokpark Road in Cleveland. Advance Auto recently extended its triple-net lease for 10 years. Dan Cooper of Cooper Commercial represented the seller, a private investor out of Cleveland. Brian Parmacek, also of Cooper Commercial, represented the buyer, a private group of investors.
WALES, WIS. — Marcus & Millichap has arranged the $680,000 sale of Cymric Corners, an 8,400-square-foot shopping center in Wales, about nine miles west of Waukesha, Wis. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the seller, a locally based investor. The buyer is a private investor form New York.
WICHITA, KAN. — Simon Property Group is converting a portion of the 951,447-square-foot Towne West Square into a space dedicated to a variety of medical users. According to the company, transforming the space to medical use will be convenient to patients and will allow medical users to cluster, as many physicians prefer to office near each other. Additionally the mall has a built-in customer base, with 6 million visitors each year. “The concept of converting mall space into a non-traditional use is a growing trend and we are seeing successful results for both the tenant and landlord,” says Jeff Englert of Grubb & Ellis/Martens Commercial Group. Grubb & Ellis will represent Simon in leasing space at Towne West Medical Plaza.
FORT WAYNE, IND. — Inland Real Estate Corp. has completed the development and leasing of Orchard Crossing, a 12,000-square-foot shopping center in Fort Wayne. The tenants include Noodles & Co., Verizon Wireless, Kay Jewelers and Sleep Number by Select Comfort. The property is located at the intersection of Illinois and Thomas roads in Fort Wayne.
CHICAGO RIDGE, ILL. — Marcus & Millichap has arranged the $1.2 million sale of two apartment buildings at 9945 and 9955 Nottingham Ave. in Chicago Ridge. The 12-unit buildings feature ample off-street parking and on-site laundry facilities. Andrean Angelov and Ryan Engle of Marcus & Millichap represented the seller, a financial institution. They also represented the buyer.
MILWAUKEE, WIS. — Landworks Wisconsin, a landscaping company, has purchased an industrial building in Milwaukee to expand its business, for $816,000. The 8,200-square-foot property is located at 1205 W. Mount Vernon Ave. Kurt Van Dyke of Cassidy Turley Barry represented the seller, Ron Sanfilippo, in the transaction. Michael Moony of NAI/MLG Commercial represented the buyer.
OMAHA — Darland Construction has started the renovation of a six-story building in Omaha. Once complete in August 2013, the newly named Victory Apartments & Offices will provide affordable housing to U.S. veterans, as well as office and classroom space. American First Real Estate Group acquired the building from Grace University earlier this year, as part of a community project to serve the needs of veterans. The first floor will house classrooms and offices for the university and a 7,000-square-foot fitness facility and community room for residents. Clinical offices for the Nebraska-Western Iowa VA Medical Center will be located on the second floor, while the upper floors will become apartments.
CHICAGO — The City of Chicago has approved the construction of 625 West Adams St., a 20-story Class A office building in Chicago's West Loop. A partnership between The Alter Group and White Oak Realty Partners will develop the 490,000-square-foot building. 625 West Adams St. will be the first office building constructed in downtown Chicago in two years. The project will be located on the site of a current parking lot at the corner of Adams and Des Plaines streets. The building will include a parking garage, conference center and fitness center. Solomon Cordwell Buenz & Associates have designed the building.
INDIANAPOLIS — Work is complete on the new 376,000-square-foot regional distribution and logistics headquarters for Regal Beloit Corp. in Indianapolis. The property is located in AllPoints Midwest, an industrial park being jointly developed by Browning and Duke Realty. The build-to-suit facility is seeking LEED certification, and the building includes water-efficient plumbing fixtures and high-efficiency heating. Regal Beloit is one of the largest manufacturers of electric motors in the world.
GREENWOOD, MO. — The renovation of the 80,255-square-foot Greenwood Shoppes at 806-914 U.S. 31 is nearing completion. Bianco Properties, which purchased the property last year, added a new roof, facade and LED lighting throughout the property. The center is located across from Greenwood Park Mall and tenants include Men's Wearhouse, Half Price Books, Casual Male and Party City. The Peterson Co. oversaw construction of the project. All businesses remained open during the renovation.