CHICAGO — Broadstone Net Lease (BNL) has acquired 11 Kentucky Fried Chicken restaurants throughout Chicago in a sale-leaseback transaction. All of the sites are master leased on an absolute net basis for 14 years. The acquisition is in line with BNL's strategy to grow its office, industrial and restaurant holdings. Since late June, the company has acquired 21 net leased properties for a combined $38.3 million.
COLUMBUS, OHIO — The Shoppes of Galloway, a 28,538-square-foot retail plaza in Columbus, has sold to a private group based in Youngstown, Ohio, for $3.3 million. The property was constructed in 2004 and is 90 percent occupied. Tenants include Chase Bank, Verizon Wireless and Great Clips. Dan Cooper of Cooper Commercial Investment Group represented the sellers, a private group based in CIncinnati. He also secured the buyers.
NAPERVILLE, ILL. — Property Dynamics has acquired a fully leased, 43,762-square-foot retail property in Naperville for $4.5 million. Tenants include The Title Shop and Buffalo Wings & Rings. Jeffrey Kowal of Edge Mark LLC represented the buyer in the transaction. The seller was Inland Hartford Plaza LLC.
NILES, ILL. — Private independent Asian buffet restaurant, Niles Buffet Inc., has signed a lease for 9,600 square feet at Dempster Plaza in Niles, a northern suburb of Chicago. The restaurant is taking the current Old Country Buffet space at the plaza, which is due to close at the end of the year. Niles Buffet plans to open in March 2013. Liz Krebs of Mid-America Asset Management Inc. represented the landlord in the transaction. Jack Siragusa of Cushman & Wakefield represented the tenant.
CHICAGO — Tandem Construction has started work on a 2,000-square-foot addition to The Academy of Scholastic Achievement, a public charter school located at 4651 W. Madison St. in Chicago. When complete, the new space will serve as a science lab. Tandem expects the project will be complete at the end of January 2013. Red Architects is designing the project.
CRYSTAL LAKE, ILL. — Marcus & Millichap has arranged the sale of The Keep Self Storage, a 541-unit self-storage facility in Crystal Lake. Terms of the sale were not disclosed. Sean Delaney of Marcus & Millichap represented the seller, the family that had originally developed the property in the late 1970s. He also secured the buyer, a limited liability company. Keep Self Storage is located at 7209 Teckler Blvd. and will be rebranded as Next Door Storage. The 59,225-square-foot facility is situated on 4.1 acres.
MINNEAPOLIS — Hyatt Hotels Corp. has acquired a select-service hotel in downtown Minneapolis and will rebrand the property as Hyatt Place Minneapolis Downtown following a $20 million renovation. The rebranding is scheduled for the summer of 2013. After upgrades to the hotel are complete, Summit Hotel Properties plans to purchase the hotel and enter a management agreement with a Hyatt affiliate. The hotel offers easy access to the city's professional sports stadiums.
ADDISON, ILL. — Marcus & Millichap has arranged the $20.5 million sale of 350 Rohlwing Road, a 453,361-square-foot industrial building in Addison. The building is fully leased to Domtar Corp., a paper producer, which uses the facility as its Chicago metropolitan area distribution center. Marty Cohan of Marcus & Millichap represented the buyer, 350 WPI Rohlwing LLC, in the transaction.
MARION, ILL. — Dalfen America Corp. has selected Colliers International to market a 1 million-square-foot distribution facility, known as Interstate 57 Distribution Center, in Marion. IDI built the facility in 2000 to serve Circuit City Stores, and the center was later purchased by Dalfen once vacated. Charles Canale, Steven Kohn and Dave Gannon of Colliers International will market the property.
SHAWNEE, KAN. — QT226 LLC has secured a $1.6 million loan for the acquisition of a newly constructed QuikTrip store in the western Kanas City suburb of Shawnee. Caffrey & Co. arranged the 15-year loan through an undisclosed insurance company. The loan carries a 4.3 percent fixed rate for the life of the loan.