WAUWATOSA, WIS. — Nordstrom plans to open its first full-line store in the greater Milwaukee area at Mayfair, the largest mixed-use shopping center in Wisconsin. The 140,000-square-foot, three-level store is scheduled to open in Wauwatosa in the fall of 2015. Mayfair, which is owned by General Growth Properties, is home to more than 160 retailers including Macy's, Boston Store, Crate & Barrel and the Apple Store.
KANSAS CITY, MO. — Kansas City developer Dineplex International will begin construction next week on the inaugural location of STANDEES, a new restaurant and theater combination in the Village Shopping Center in Prairie Village. The restaurant will include seating at 43 booths and banquets, a 27-seat U-shaped bar and an outdoor patio. The three theaters average 85 seats with 31-foot wide screens and digital projection systems. The 14,000-square-foot property is slated to open in May 2013 at 3935 W. 69th Terrace.
CHICAGO — Consolidated-Tomoka Land Co. has acquired the ground lease for a JPMorgan Chase Bank property in Chicago for $3.8 million. The ground lease with JPMorgan Chase has 28 years remaining and rental rate escalations every five years.
INDIANAPOLIS — Gramercy Capital Corp. has acquired a two-property, 540,000-square-foot industrial portfolio in Indianapolis for $27.1 million. The portfolio is comprised of Class A buildings that are fully leased to three tenants with a 10.2-year weighted average lease term. According to Gordaon DuGan, CEO of Gramcery, the closing is the first in the company's new strategy to become a “premier net lease investor focused on office and industrial properties.”
DAYTON, OHIO — HFF has arranged $12.5 million in acquisition financing for an eight-property self-storage portfolio in various Ohio locations. World Class Capital Group is the borrower. The 3,432-unit portfolio is comprised of five properties in the Dayton area, two in the Youngstown area and one in Cincinnati. The properties, which were owned and operated by a national self-storage REIT, total 441,914 square feet. Christopher Vittetoe and Benjamin Gallant led the HFF team that arranged the 10-year, fixed-rate loan through Deutsche Bank Securities.
CREVE COEUR AND CEDAR LAKES, MO. — L3C Capital Partners has acquired a four-property apartment portfolio in the greater St. Louis region for $115 million. The portfolio totals 1,447 units and properties include Westchase, Cove West and Cross Creek in Creve Coeur and Cedar Lakes in St. Louis. Freddie Mac provided a $92 million loan for the acquisition. L3C plans to invest $8.2 million to upgrade the properties. Village Green Management will manage the property.
DAYTON, OHIO — Cooper Commercial has arranged the $885,000 sale of a freestanding Wright-Patt Credit Union in Dayton. The 3,500-square-foot property was developed in 2010 and requires no landlord responsibilities. Wright-Patt has a ground lease on the property through 2030, with 10 percent rental increases every five years. Bob Havasi of Cooper Commercial represented the sellers, an institutional entity based in New York. The buyer was a private group based in Cleveland.
CICERO, ILL. — Ryan Cos. has completed work on Wirtz Beverage Illinois, a new 605,000-square-foot corporate headquarters building at 333 South Laramie Ave. in Cicero. The facility consolidates four Wirtz Beverage locations into one hub for sales, distribution and training programs. Ware Malcomb provided architectural and design services to Wirtz Realty Group, the newly formed real estate arm of Wirtz Corp. The property features offices, conference centers, training facilities and warehouse and distribution areas. The building also contains digital signage screens. The 500,000-square-foot warehouse contains one of the largest temperature-controlled wine storage components in the country.
CHICAGO — American Tower Corp. has acquired the 93rd and 97th floors of the John Hancock Center in Chicago, as well as rights to the existing telecommunications leases associated with the property. The sale includes more than 34,000 square feet for broadcast and telecommunications equipment and two broadcast towers. American Tower says it plans to market the property to both broadcast and wireless tenants.
KANSAS CITY, MO. — Berkeley Point Capital has arranged a $33.2 million loan for the acquisition and renovation of Camden Passage, a 596-unit apartment community in Kansas City. Robert Cantizano of Berkeley Point arranged the 10-year loan through Fannie Mae, which features three years of interest-only payments and seven years yield maintenance. The borrower, a multifamily investment fund focused on core and value-add acquisitions, plans to use some of the funds for its capital investment budget and to rename the property Northland Passage.