OTUMWA, IOWA — GladStone Commercial Corp. has purchased a 352,869-square-foot bottling plant in Ottumwa for $7.1 million. The building is leased to the American Bottling Co. American Bottling is the largest operating subsidiary of Dr Pepper Snapple Group Inc., responsible for bottling and distributing beverage brands including Dr Pepper, 7UP, A&W, Snapple and Hawaiian Punch.
MADISON — WS Capital Partners has acquired the 474,000-square-foot Hilldale Shopping Center in Madison for $52 million, following a sheriff’s sale. WS Capital acquired the defaulted first and second mortgages earlier this year. The Hilldale Shopping Center opened in 1962 and has been expanded and renovated several times, most recently in 2006. Anchor tenants include Macy’s and Metcalfe’s Market. In 2007, actor Robert Redford selected the center as the home to the first Sundance Cinemas.
MAPLE GROVE, MINN. — Two new tenants have joined the Arbor Lakes North End building in Maple Grove. Elements Therapeutic Massage will occupy 2,150 square feet of ground-level retail space and Global Tax Network has leased 6,500 square feet of office space on the second floor. Kris Schisel and Molly Murnane of Colliers International represented Opus in the retail transaction. Jim Damiani, Brian Beltrand and Matt Delisle of Colliers International represented Opus in the office transaction.
NORTH BRANCH, MINN. — Marcus & Millichap has arranged the sale of Budget Host Inn & Suites, a 42-room economy hotel in North Branch. Jonathan Ruprai of Marcus & Millichap's Tampa office represented the seller, a financial institution. He also secured the buyer, a limited liability company.
AURORA, ILL. — Midwest Warehouse, a third-party logistics firm, has signed a lease for 59,521 square feet of industrial space at 2707 Eola Rd. in Aurora. The 251,768-square-foot building is located just north of I-88. Brad Borkowski and Tim Thompson of HSA Commercial Real Estate represented the tenant in the transaction. David Prioletti and Kip Hennelly of CBRE represented the owner, Manulife Financial.
FORT WAYNE, IND. — Pyromaniacs Inc., a fireworks retailer, has signed a lease for 2,740 square feet of retail space at 5911 N. Clinton St. in Fort Wayne. Greg Conkling of NAI Harding Dahm represented the tenant in the transaction. He also represented the landlord, Tower Bank and Trust.
HILLSIDE, ILL. — Marcus & Millichap has arranged the $3.4 million sale of Hillside Apartments, a 71-unit property at 600 N. Wolf Rd. in Hillside. The property contains three nine-unit buildings; two, 10-unit buildings; and two, 12-unit buildings. Jim Walsh of Marcus & Millichap's Chicago office represented the seller, a private investor. James Clough, also of Marcus & Millichap's Chicago office, represented the buyer, a limited liability company.
DEERFIELD, ILL. — Quest Software, a software company, has signed a lease for 19,288 square feet of office space within the 38,000-square-foot building at 875 Weiland in Deerfield. Elise Couston and Bradley Weiner of Paine/Wetzel/TCN Worldwide represented the landlord, Deerfield & Weiland LLC, in the transaction. Royce Sharf and Kevin McLennan of Studley repesented Quest Software.
TAYLOR, MICH. — Aspen Dental, a dental care provider, has inked a 3,200-square-foot lease at the northwest corner of Eureka and Racho roads in Taylor, about 18 miles outside of Detroit. Gabe Schuchman, Tony Schmitt and Samantha Tullio of Mid-America Real Estate-Michigan represented the tenant in the transaction.
DUBLIN, OHIO — Cooper Commercial Investment Group has arranged the $5 million sale of The Shops at Avery in Dublin. The property is fully leased and tenants include Huntington National Bank, FedEx and Caribou Coffee. The center is located near I-270 and is just minutes from downtown Dublin. Dan Cooper of Cooper Commercial Investment Group represented the sellers in the transaction. The buyers were a local private group.