NEW LENOX, ILL. — A joint venture between Focus Health Partners and Artemis Real Estate Partners has acquired Paradise Park of New Lenox, an 80-unit assisted living and memory care community in New Lenox, for $9.8 million. The community includes 48 assisted living units and 32 memory care units in five cottages. ARA National Seniors Housing Group represented the buyer in the transaction.
CHICAGO — The Boulder Group has arranged the $1.6 million sale of a net-leased Dollar General property at 5701 Belmont Ave. in Chicago. The 9,500-square-foot property was renovated in 2011 and Dollar General has 10 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a high-net-worth individual from Chicago, in the transaction. The buyer was a private partnership.
LENEXA, KAN. — Cellnet Technology Inc., a business services company, has signed a lease for 16,108 square feet of office space at 11146 Thompson Ave. in Lenexa. Larry Larsen of CBRE Group represented the tenant in the transaction. The landlord is HRPT Lenexa Properties Trust.
DEARBORN, MICH. — The University of Michigan at Dearborn, one of two regional campuses of the University of Michigan, will open its first student housing in fall 2013 across the street from the main campus. Urban Campus Communities (UCC) is funding the $30 million Union at Dearborn, which will be managed by Asset Campus Housing. It will include housing for more than 500 students as well as space leased by the university for student life activities, including meeting rooms, student gathering spaces, group study rooms, offices for student organizations and a cabaret-style theater. UCC finalized the purchase of the property from Ford Land on Thursday, Sept. 13. The development is privately owned and operated. It is not owned or operated by UM-Dearborn.
OVERLAND PARK, KAN. — Bridge Partners has purchased Essex Place Apartments, a 352-unit, Class B apartment community in Overland Park, a suburb of Kansas City. The garden-style property is located at 8900 W. 102nd Terrace near employment centers such as the Sprint/Nextel corporate campus and Corporate Woods Office Park. The apartment units average 1,219 square feet. Since 2010, the property has undergone $2.6 million in renovations. Essex Place was 95 percent occupied. Jordan Cortez led the Rockwood Real Estate Advisors team that represented the seller in the transaction.
XENIA, OHIO — Marcus & Millichap has arranged the $1.6 million sale of Chipotle Center, a 7,487-square-foot retail property at 1620 West Park Square in Xenia. The property is fully occupied by Chipotle, AT&T and Palm Beach Tan. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company, in the transaction. An out-of-state buyer acquired the property at an 8.4 percent cap rate.
ROSEVILLE, MICH. — LVM Squared LLC has purchased a 16,000-square-foot industrial building at 15900 Common Road in Roseville. Ben Wilkiemeyer and Steve Gordon of Signature Associates represented the seller, Shady Lane Development Co., in the transaction.
ANN ARBOR, MICH. — The Big Salad, a specialty restaurant, has signed a lease for 1,934 square feet of retail space in Plymouth Road Plaza in Ann Arbor. The new location is at 2791 Plymouth Road. Adam Goodman and Tony Schmitt of Mid-America Real Estate-Michigan represented the tenant in the transaction.
WAUKESHA, WIS. — Four retailers, T.J. Maxx, Ulta Salon and Cosmetics, Rue 21 and Charming Charlie's, will open new locations at the Shoppes at Fox River development in Waukesha by Oct. 28. Opus broke ground on the first development of Phase II of the Shoppes at Fox River in April. The development, which will house the new retailers, includes 47,000 square feet of retail space on six acres. The first phase of the shopping center opened in 2009 and is fully occupied. Tenants include a 132,000-square-foot Target and a 60,000-square-foot Pick 'n Save.
OVERLAND PARK, KAN. — Block & Co. has been selected as the leasing agent for the 1.1 million-square-foot Corbin Park retail center at the intersection of 135th Street and Metcalf Avenue in Overland Park. The center is anchored by Von Maur, JC Penney and Lifetime Fitness. Big box, junior box and small shop space is available for lease, as well as pad sites surrounding the center. David Block, Greg Roberts, Max Kosoglad and Phil Peck of Block & Co. make up the leasing team assigned to Corbin Park.
