Midwest

541-UNIT SELF-STORAGE FACILITY SELLS IN THE CHICAGO MARKET

by admin October 31, 2012

CRYSTAL LAKE, ILL. — Marcus & Millichap has arranged the sale of The Keep Self Storage, a 541-unit self-storage facility in Crystal Lake. Terms of the sale were not disclosed. Sean Delaney of Marcus & Millichap represented the seller, the family that had originally developed the property in the late 1970s. He also secured the buyer, a limited liability company. Keep Self Storage is located at 7209 Teckler Blvd. and will be rebranded as Next Door Storage. The 59,225-square-foot facility is situated on 4.1 acres.

October 31, 2012

HYATT ACQUIRES SELECT-SERVICE HOTEL IN DOWNTOWN MINNEAPOLIS

by admin October 31, 2012

MINNEAPOLIS — Hyatt Hotels Corp. has acquired a select-service hotel in downtown Minneapolis and will rebrand the property as Hyatt Place Minneapolis Downtown following a $20 million renovation. The rebranding is scheduled for the summer of 2013. After upgrades to the hotel are complete, Summit Hotel Properties plans to purchase the hotel and enter a management agreement with a Hyatt affiliate. The hotel offers easy access to the city's professional sports stadiums.

October 31, 2012

Industrial Midwest

ILLINOIS INDUSTRIAL BUILDING TRADES FOR $20.5M

by admin October 31, 2012

ADDISON, ILL. — Marcus & Millichap has arranged the $20.5 million sale of 350 Rohlwing Road, a 453,361-square-foot industrial building in Addison. The building is fully leased to Domtar Corp., a paper producer, which uses the facility as its Chicago metropolitan area distribution center. Marty Cohan of Marcus & Millichap represented the buyer, 350 WPI Rohlwing LLC, in the transaction.

October 31, 2012

Industrial Midwest

COLLIERS TAPPED TO MARKET 1.1M SF DISTRIBUTION CENTER

by admin October 31, 2012

MARION, ILL. — Dalfen America Corp. has selected Colliers International to market a 1 million-square-foot distribution facility, known as Interstate 57 Distribution Center, in Marion. IDI built the facility in 2000 to serve Circuit City Stores, and the center was later purchased by Dalfen once vacated. Charles Canale, Steven Kohn and Dave Gannon of Colliers International will market the property.

October 31, 2012

Midwest Retail

CAFFREY & CO. ARRANGES $1.6M ACQUISITION LOAN

by admin October 31, 2012

SHAWNEE, KAN. — QT226 LLC has secured a $1.6 million loan for the acquisition of a newly constructed QuikTrip store in the western Kanas City suburb of Shawnee. Caffrey & Co. arranged the 15-year loan through an undisclosed insurance company. The loan carries a 4.3 percent fixed rate for the life of the loan.

October 31, 2012

Hospitality Midwest

FAE HOLDINGS TO BUILD FULL-SERVICE HOTEL IN WEST CHESTER

by admin October 30, 2012

WEST CHESTER, OHIO — FAE Holdings 413133R LLC has acquired 5 acres at the corner of Allen and Mulhauser roads in West Chester for $2.1 million. Hi Five Development Services, a locally-based hotel developer, plans to build a full-service hotel and conference center on the site for the buyer, which is an operator of several hotels throughout the region. Mike Halonen of Edge Real Estate Group represented the seller, JaNaka Ltd., in the transaction.

October 30, 2012

Industrial Midwest

SHANNON INVESTMENTS ACQUIRES 18,500 SF INDUSTRIAL PROPERTY

by admin October 30, 2012

ALSIP, ILL. — Shannon Investments, an Illinois-based investor, has acquired 420-4252 W. 124th Place, an 18,500-square-foot industrial property. Built in 1970, the property is one mile from I-294 & Cicero/127th Interchange. Tim Wagener, Carrie Wagener and Andrea Hauger of Owen Wagener & Co. represented the seller in the transaction.

October 30, 2012

Midwest Office

MIDWESTERN CONSULTING SIGNS 10,343 SF LEASE

by admin October 30, 2012

WESTMONT, ILL. — Midwestern Consulting has signed a lease for 10,343 square feet of office space at 500 Quail Ridge Dr. in Westmont. The building is centrally located in the Oakbrook area with easy access to O'Hare International Airport and Chicago. Amenities include restaurants, a hotel and day care. Adam Johnson of NAI Hiffman represented the tenant in the transaction. Jim Whiteside of Heartland Commercial represented the landlord, Quail Ridge Drive Investors LLC.

October 30, 2012

Midwest Retail

157,459 SF SHOPPING CENTER SELLS FOR $10M

by admin October 29, 2012

BROOK PARK, OHIO — Philips Edison — ARC Shopping Center REIT has acquired Brook Park Plaza, a 157,459-square-foot shopping center in Brook Park, a suburb of Cleveland, for $10 million. The center is 87 percent occupied and anchored by an 82,000-square-foot Giant Eagle grocery store, which has a fuel station.

October 29, 2012

Midwest Retail

NATIONAL NET LEASE ARRANGES $4.5M WALGREENS SALE

by admin October 29, 2012

REYNOLDSBURG, OHIO — National Net Lease Realty has arranged the $4.8 million sale of a net-leased Walgreens property in Reynoldsburg. The 15,120-square-foot store was built in 2000 and is situated on 1.9 acres. Walgreens has eight years remaining on its lease, with an additional eight, five-year options to renew at the same rental rate. Terry Marks of National Net Lease Realty represented the buyer, Reynoldsburg WAG LLC, in the transaction. Transwestern Real Estate represented the seller, Reynoldsburg-W Investment LLC.

October 29, 2012

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