DALLAS — Dallas-based Capital Senior Living Corp. has acquired five senior living communities in Indiana and Texas for $49.4 million. The properties are 94 percent occupied and the average monthly rents are approximately $3,200. Additional terms of the deal were undisclosed.
Midwest
OAK BROOK, ILL. — Inland Real Estate Corp. and Inland Private Capital Corp. have acquired two retail properties in Wisconsin. The joint venture purchased a neighborhood shopping center anchored by a Pick 'n Save grocery in Mt. Pleasant, Wis. for $21.3 million. In a separate deal, the companies also acquired a single-tenant property leased to Pick 'n Save in Sheboygan, Wis. for $1.7 million. The properties were acquired from the same regional developer. The Mt. Pleasant shopping center is located at 2800-60 S. Green Bay Rd. and totals 82,233 square feet. The 62,138-square-foot Pick 'n Save in Sheboygan is located at 1317 N. 25th St.
MILWAUKEE — A Florida-based private investor has purchased an 8,566-square-foot Family Dollar store in Milwaukee for $1.54 million. The seller was a local developer. Built in 1950, the freestanding building was renovated and expanded in 2011. It is located at 4331 W. Oklahoma Ave. Tom Fritz, Mark Goldberg and Dan Cohen of the Milwaukee office of Mid-America Real Estate Corp. represented the seller in the transaction.
FORT WAYNE, IND. — American Mattress has signed a 3,250-square-foot lease in the 14 Square Shopping Center in Fort Wayne. The center is located at 4916 Illinois Rd in Suite 100. Stanley Phillips and Russell Jehl of NAI Harding Dahm represented the landlord, Bauerlie 14 Square LLC, in the transaction.
BRANSON, MO. — Inland Real Estate Acquisitions has acquired two shopping centers in Missouri and Tennessee for a combined $74 million. Inland purchased Shoppes at Branson Hills, a 348,700-square-foot shopping center in Branson for $38.5 million. Tenants include Home Depot, Petco and Bed Bath & Beyond. Inland was represented in-house by Matt Tice in the deal. The company also acquired Hamilton Crossing, a 175,485-square-foot shopping center in Alcoa, Tenn. Both properties were acquired on behalf of Inland Diversified Real Estate Trust Inc.
OXFORD, MICH. — Center Management has acquired The Promenade at Waterside, a retail development in Oxford, for an undisclosed amount. The 67,000-square-foot retail center is located on Lapeer Road. Tenants include Tim Horton's and Chili's. Stokas Bieri Real Estate, an X Team International Partner, represented the buyer in the transaction. Beltway Capital Management, the seller, was self-represented.
BIRMINGHAM, MICH. — Walgreens Co. has signed a 32,487-square-foot lease to occupy a former Borders Books & Music in Birmingham. The property is located at 34300 Woodward Ave. Susan Acciaioli and Brad Rosenberg of Mid-America Real Estate-Michigan Inc. represented the landlord, Related Birmingham LLC, in the transaction. They also represented the tenant.
MINNEAPOLIS — RockBridge Partners has purchased the University Hotel Minneapolis, a 304-room, full-service hotel. The new owner is planning a $14.8 million renovation and rebranding of the property. The project will begin this spring and include lobby enhancements, a new restaurant and lounge and an expanded fitness center. Guest rooms and corridors will also be refurbished. The hotel is the only full-service hotel on the University of Minnesota campus. Noble House Hotels and Resorts will manage the property.
CINCINNATI — Beauty care manufacturer Kao USA Inc. has signed a lease to relocate from its current corporate headquarters on Spring Grove Avenue to the 312 Plum St. building in Cincinnati. The company will occupy 55,000 square feet of the building. Kao also plans to renovate the Spring Grove Avenue facility, where the research and development and manufacturing facilities will remain. The company expects to move this summer.
ARLINGTON HEIGHTS, ILL. — Hamilton Partners has purchased 1615 W. Central, a 30,000-square-foot medical building from a private investor in Arlington Heights. Terms of the deal were undisclosed. Dan O' Neill of Cawley Chicago represented both parties in the transaction.