AURORA, ILL. — Centrust Bank has sold a combined 12,290 square feet of office condominiums at the Fox Valley Office Commons in Aurora. Located at 4260 Westbrook Drive, the Fox Valley Office Commons is a single-story brick building with 21 suites. Tenants include dental, accounting, information technology and engineering offices. NAI Hiffman represented Centrust Bank in the deal.
DES PLAINES, ILL. — Saban Capital has acquired a 239,331-square-foot office building in Des Plaines for $39 million. The FAA Great Lakes regional headquarters and a smaller General Services Administration tenant lease 92.5 percent of the four-story office building. Transwestern’s Chicago office arranged the sale of the property, 2300 East Devon, on behalf of O’Hare Lake Office Park LLC. 2300 East Devon is one of five multi-story buildings within the 50-acre O’Hare Lake Office Park. The property was 94 percent occupied at the time of sale.
OAK BROOK, ILL. — Inland Real Estate Acquisitions and IREIT Business Manager & Advisor, on behalf of Inland American Real Estate Trust, have acquired retail assets in four states totaling $25.5 million. The properties include: Newington Fair, a 186,205-square-foot shopping center located in Newington, Conn., purchased for $17.2 million; and a portfolio of seven Dollar General stores, totaling approximately 63,000 square feet, located in Alabama, Georgia and Tennessee, purchased for $8.3 million. Lou Quilici, senior vice president of IREIT Business Manager & Advisor, facilitated the acquisition of Newington Fair. Joe Cosenza, president of Oak Brook-based Inland Real Estate Acquisitions, facilitated the purchase of the Dollar General stores.
SHAKOPEE, MINN. — Arizona-based Liberty Property Trust has purchased two buildings at Park 2000 in Shakopee, Minn., south of Minneapolis. The first property, Park 2000 Phase II located at 5555 12th Ave. E., is a 128,172-square-foot office building and is fully leased to S.W. Anderson Co., My Pillow and North American Membership Group Inc. The second property, Park 2000 Phase IV located at 1150 Gateway Drive, is a 153,454-square-foot industrial building and is fully leased to Logistics International LLC. LNR Partners was the seller. Terms of the deal were not disclosed.
RAYMORE, MO. — Sam’s Club has broken ground on a 136,085-square-foot grocery store at Raymore Galleria shopping center in Raymore just south of Kansas City. The store is scheduled to open this October. Sam’s Club is the newest tenant to the 400,000-square-foot shopping center located at Highway 58 and Dean Avenue. Kansas City-based Block & Co. Inc. is construction manager for the project.
MANKATO, MINN. — Marcus & Millichap has sold O’Reilly Auto Parts, an 8,343-square-foot property for $700,000 in Mankato, south of Minneapolis. The net-leased property is located at 510 Pfau St. Marcus & Millichap represented the buyer, an individual trust, and the seller, a private investor, in the deal.
CINCINNATI — Bellwether Enterprise Real Estate Capital LLC has closed a Freddie Mac loan totaling $10.39 million for the refinancing of Northgate Meadows, a multifamily property in Cincinnati. The 10-year loan has a 30-year amortization schedule. The property, located at 10101 Arborwood Drive, has 272 units. Elmer Cole of Bellwether Enterprise originated the loan.
COLUMBUS, OHIO — New York-based Schottenstein Property Group has sold two buildings totaling 1.3 million square feet of office and warehouse space in Columbus. The buildings, located in the Columbus International Air Center, are fully occupied and tenants include: DSW Inc. corporate headquarters and distribution facility and the Ohio Department of Jobs and Family Services. Brokerage firm Binswanger represented Schottenstein in the deal. The buyer was undisclosed.
CHICAGO — Marcus & Millichap has arranged the $700,000 sale of a 28-unit apartment property in Chicago. The multifamily property, located at 8321 S. King Drive, consists of five studio apartments, 10 one-bedroom units and 13 two-bedroom units. Ryan Engle and Anthony Hardy represented the buyer, a limited liability company, and the seller, an individual trust.
BOILINGBROOK, ILL. —Pres-On has purchased a 101,463-square-foot industrial building on 7.7 acres in Bolingbrook. Located at 2600 E. 107th St., the newly acquired property consolidates Pres-On’s three smaller facilities into one centralized location that now serves as its corporate headquarters. The renovated industrial building was expanded to a115,000-square-foot facility that consists of offices and customer service, manufacturing and warehouse space. Chicago-based Wirtz Realty Group represented Pres-On, an industrial foam tape and gasket manufacturer, in the deal.
