OVERLAND PARK, KAN. — NorthMarq Capital has arranged $8.7 million for the refinancing of 95 Metcalf Square in Overland Park. The property consists of nine mixed-use office and retail buildings totaling 152,122 square feet. John Stewart and Ian Reissner of NorthMarq Capital arranged the loan.
OAK LAWN, ILL. — Irgens has completed the Little Company of Mary Outpatient Care Center, located at 6700 W. 95th St. in Oak Lawn. The 50,000-square-foot facility will house several outpatient services including immediate care, diagnostic imaging and lab. After purchasing the site on 95th Street, Little Company of Mary Hospital retained Irgens to develop the new ambulatory care center. Krusinski Construction Co. served as the general contractor while PFB Architects provided design services.
HUDSON, OHIO — Hudson Business Park LLC has acquired a $3.1 million industrial facility from Duro Bag Manufacturing Co., the largest manufacturer of paper bags for grocery, food service and pharmacy. The 147,000-square-foot facility is located at 486 Baer Road in Hudson. Stephen Bove and Laurence Bergman of NAI Bergman and Steve Nilsson of Colliers International represented the seller in the transaction. Sandy Barin of CBRE Group represented the buyer.
SOUTH BEND, IND. — Garrison Investments has acquired a 538,500-square-foot distribution building at 1902 W. Sample St. in South Bend. The property was formerly used by a Massachusetts-based retailer for storage and distribution of merchandise. Built in 2005, the single-story building includes 24,500 square feet of air-conditioned office space and 88 dock doors. The building is approximately two miles from U.S. Highway 31/20. Binswanger represented both parties in the transaction.
EAST LANSING, MICH. — Education Realty Trust has acquired Campus Village Apartments, a 357-bed student housing property in East Lansing, for $20.9 million. The 284,675-square-foot property is blocks from Michigan State University at 1151 Michigan Ave. Amenities include a gaming center, fitness center, computer lab and complimentary high-speed Internet. Earl Elliot of Marcus & Millichap represented the seller, Ernie Shaffer. Chris Futo and Gordon Navarre of Marcus & Millichap represented the buyer.
EVANSVILLE, IND. — The Embassy Group has purchased Terra Trace, an 84-unit apartment community at 1715 Theater Drive in Evansville, for $2.4 million. The property consists of 11 two-story rental buildings. Units average 752 square feet and rents average $540 per month. Amenities include on-site laundry, a clubhouse, swimming pool and private balconies. David Gaines and Alex Blagojevich of Marcus & Millichap represented the seller, Regency Apartments. They also secured the buyer.
HILLSBORO, OHIO — HealthSource of Ohio recently purchased a 14,009-square-foot portion of Hillsboro Plaza, a 58,127-square-foot retail center at 1088-1100 N. High St. in Hillsboro, for $1.4 million. Buckeye State Investors initially purchased the distressed center in 2005 and began a comprehensive renovation of the half-empty property. Brent Sears of NAI Bergman served as the general contractor and leasing broker for the project. The renovated property is fully leased to tenants such as Peebles Department Store and #1 China Buffet. The balance of Hillsboro Plaza is currently being offered for sale for $3.5 million.
ORLAND PARK, ILL. — Whole Foods Market has opened a 27,370-square-foot location at Ravinia Plaza in Orland Park. The natural and organic food retailer signed a lease in early 2012 to occupy space formerly leased to Borders. The 101,384-square-foot Ravinia Plaza is located at 15150-15260 La Grange Road, and additional tenants include Panera Bread and Pier 1 Imports. Inland Real Estate Corp. owns the property.
ST. LOUIS — The once-abandoned Metropolitan Building in St. Louis has been transformed into a haven for local artists, featuring 72 lofts and four on-property art studios. The property, called Metropolitan Artist Lofts, was originally built at 500 N. Grand Blvd. in 1908. The building features one- and two-bedroom apartments and studios for painters, sculptors and clay artists. Amenities include a dance studio and fitness room. Dominium developed the property and U.S. Bank provided the financing.
TROY, MICH. — First American Exchange Co. has acquired Golden Gate Plaza, a 100,000-square-foot retail center in Troy. The facility is located at 2883-2891 Big Beaver Road. Bruce Morrison, Viktor Gjonaj and Jeffrey Trepeck of Signature Associates represented the seller, Reed Holdings Troy LLC. Morrison also represented the buyer.
