DES MOINES, Iowa — Metonic Real Estate Services, an entity formed by the Silverman family of Omaha, has purchased West Glen Town Center in Des Moines for $34.5 million. The property was in receivership at the time of sale with two different receivers. The mixed-use development was built in two phases in 2006 and 2008. The center includes 418,000 square feet of retail as well as office space and 123 apartments. Ember Grummons of Investors Realty represented the buyer. The Silverman family owns mutlifamily properties and other developments in the Midwest. Through Metonic, the family plans to attract additional retailers to the site, which is 60 percent occupied in the commercial and office spaces. World Group Commercial Real Estate will manage the center.
SALINA, KAN. — Red Mortgage Capital has arranged an $11.8 million Fannie Mae loan for Eaglecrest Retirement Community in Salina. The 102-unit community includes 62 independent living and 40 assisted living units. Midwest Health, which owns 43 senior living communities throughout the Midwest, acquired Eaglecrest last month.
LIVONIA, MICH. — Longacre LLC has purchased a 14,600-square-foot industrial building in Livonia, a Detroit suburb, for $435,000. Located at 11965 Brookfield, the facility was built in 1973 and remodeled in 2000. The building includes 1,800 square feet of office space. Tony Avendt of Grubb & Ellis represented the seller, First Industrial LP, in the transaction.
BLUE SPRINGS, MO. — Passco Cos. has completed its $4.3 million acquisition of Shoppes at Coronado Place I, a 14,534-square-foot strip center in Blue Springs, two miles from downtown Kansas City. The center was built in 2008 and was fully occupied at the time of sale. Tenants include Adams Dairy Bank, AT&T Wireless and Vintage Stock. Keoni Fursse of Kokua Realty represented the seller, Coronado Partners LLC, in the transaction. Passco was self-represented.
KOHLER, WIS. — Kohler Co. has completed its multi-phase renovation of The American Club Resort Hotel in Kohler. The American Club was built in 1918 to house immigrant workers of the Kohler Co. and was restored in 1981 as a luxury hotel, earning the Midwest's only AAA Five-Diamond Award in its first year. The latest renovation included upgraded guest rooms with new furniture, plumbing, flat screen TVs and iPod docking stations. Each room also pays homage to a famous American and includes information and photos of icons such as Ben Franklin and Harriet Tubman. Crews also renovated the resort's common areas such as the lobby and library.
COLUMBUS — Mt. Carmel Health System has inked a 12,060-square-foot office lease at Arlingate Plaza, located at 4171 Arlingate Lane in Columbus. Doug Falor of Cassidy Turley represented the landlord, Time Equities, in the transaction.
NORTHBROOK, ILL. — SAS Architects & Planners is designing an assisted living and dementia care community in Northbrook, which will break ground this November. Called North Shore Place, the two-phase project will be built on a 7-acre site at 1000 Sunset Ridge Rd., near the intersection of Sunset Ridge Road and Skokie Boulevard. The project will include a 156-unit residence with 40 apartments for those requiring memory support services. Amenities will include a theater, card room and computer center. The second phase will include a 32-unit assisted living memory care center, designed to meet the needs of residents with more advanced dementia. The project is slated for completion by year-end 2013.
KENOSHA, WIS. — Great Lakes Warehousing has signed a lease for 31,200 square feet of industrial space at 4200 39th Ave. in Kenosha. Brett Deter and Scott Revolinski of RFP Commercial represented the landlord in the transaction. They also represented Great Lakes.
COLUMBUS, OHIO — Cott Systems has inked an office lease for 17,016 square feet at 2800 Corporate Exchange Dr. in Columbus. The company is a provider of public records management and storage systems. Todd Barcus of Cassidy Turley represented the tenant in the transaction. Wayne Harer and Ken Isenbarger of Continental Realty Ltd. represented the landlord, Corporate Exchange Building IV & V LP.
CLEVELAND — Developers of the Flats East Bank in Cleveland have secured commitments from five new restaurants. The restaurants signing lease deals include Toby Keith's I Love This Bar & Grill, Ken Stewart's, Lago, Flip Side and Dos Tequilas. The developers say the new signings show the $500 million project is gaining attention locally and nationally. Construction is well underway on the first phase of the project, which includes an 18-story office tower, a 150-room hotel and a health club. The $120 million second phase will include residential and additional retail and entertainment properties. The incoming restaurants come on the heels of commitments from office tenants Ernst & Young, Tucker Ellis and CBRE.