Midwest

TFC BANK SELLS 8,271 SF OFFICE BUILDING IN AURORA

by admin October 18, 2012

AURORA, ILL. — International Transload Logistics has purchased 3675 Darlene Court, an 8,271-square-foot office building in Aurora. The company plans to use part of the building for its corporate offices and lease the remaining space. The building is located in the Meadow Lakes Corporate Park, about five miles south of I-88, and features lake views, a full basement and abundant parking. Jim Adler and Adam Johnson of NAI Hiffman represented the seller, TCF National Bank, in the transaction. John Cash and David Haigh of NAI Hiffman represented the buyer.

October 18, 2012

HOUSE OF HOOPS CONCEPT STORE TO OPEN IN KANSAS CITY

by admin October 18, 2012

KANSAS CITY, MO. — Foot Locker plans to open a new House of Hoops store in the Skelly Building, located on the northeast corner of 47th Street and Pennsylvania Avenue in Kansas City. The 5,206-square-foot retail store is set to open in mid-November. The building is also home to Block & Co., Panera Bread and Bo Lings Chinese Restaurant. Foot Locker has 3,500 locations worldwide, but the House of Hoops concept store is one of only 76 retail stores in the world and features a variety of exclusive Nike Footwear and apparel. David Block of Block & Co. represented both parties in the transaction.

October 18, 2012

Midwest Retail

NEW RESTAURANT COMPLEX BREAKS GROUND IN BINGHAM FARMS

by admin October 17, 2012

BINGHAM FARMS, MICH. — Versa Development is constructing a 9,000-square-foot retail property in the parking lot of the company's Bingham Office Center, located at Telegraph Road and 13 Mile Road in Bingham Farms. The development will include three fast-casual restaurants: DiBella's Old Fashioned Submarines, Qdoba Mexican Grill and a restaurant that is yet to be announced. Due to the lack of restaurants in the area, Versa expects the development will attract office tenants and the general public. Versa is partnering with Farbman Group and the Village of Bingham Farms on the project. The complex is expected to open this winter.

October 17, 2012

Midwest Multifamily

SHAGBARK APARTMENTS SECURES $14.5M FREDDIE MAC LOAN

by admin October 17, 2012

KENOSHA, WIS. — NorthMarq Capital has arranged a $14.5 million Freddie Mac loan for the refinancing of Shagbark Apartments, a 460-unit apartment community in Kenosha. Sue Blumberg of NorthMarq arranged the 10-year loan amortized over 30 years on behalf of the borrower, Shagbark Apartments LLC.

October 17, 2012

Midwest Retail

CANYONS BURGER OPENS IN WESTMONT

by admin October 17, 2012

WESTMONT, ILL. — Fresh Enterprises has opened a new Canyons Burger Co. restaurant at 243 W. 63rd St., inside the Westmont Yard Indoor Sports complex in Westmont. The new 2,500-square-foot restaurant is locally owned and operated by Westmont Yard Sports Complex owner, William Gust. The restaurant will celebrate its grand opening with “Kids in Uniform Eat Free” on weekends in October.

October 17, 2012

Midwest Retail

FANNIE MAY CHOCOLATES OPENS LOCATION IN NEW BERLIN

by admin October 17, 2012

NEW BERLIN, WIS. — Fannie May Chocolates has signed a 1,398-square-foot lease at Moorland Square Shopping Center in New Berlin. Joe Kleiman of Mid-America Real Estate-Wisconsin represented Fannie May in the transaction. The property owner, Brixmor Property Group, was represented in-house by Dana Meadowcraft.

October 17, 2012

Midwest Multifamily

NORTHMARQ ARRANGES $5.1M MORTGAGE FOR SIOUX FALLS PROPERTY

by admin October 16, 2012

SIOUX FALLS, S.D. — Minneapolis-based NorthMarq Capital has arranged a $5.1 million loan for the refinancing of Brentwood Apartments, a 126-unit multifamily property in Sioux Falls. The borrower is Brentwood Manor Apartments LLC. John Reed of NorthMarq Capital arranged the 10-year loan amortized over 30 years through AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.

October 16, 2012

Midwest Retail

LEOPARDO BREAKS GROUND ON 50,000 SF AUDI DEALERSHIP

by admin October 16, 2012

HOFFMAN ESTATES, ILL. — Leopardo has broken ground on a new, 50,000-square-foot Audi dealership in Hoffman Estates. Located at 1200 Golf Road, the dealership will be the first in Chicagoland to use the “terminal” prototype design by Munich-based architecture firm Allmann Sattler Wappner. The design combines efficiency, performance and environmental themes. When completed in June 2013, the facility will feature a 12-car showroom, service/workshop and customer service center. Dobbins Group is the architecture of record and Behles & Behles is the schematic designer. Leopardo is the construction manager.

October 16, 2012

Midwest Office

ARES ARRANGES $36M LOAN FOR CINCINNATI OFFICE PROPERTY

by admin October 16, 2012

CINCINNATI — Ares Commercial Real Estate Corp. has arranged a $36 million first mortgage loan for the refinancing of a Class A office building in Cincinnati's central business district. The initial funding amount is $27 million with $9 million in loan proceeds available to be drawn over time to fund tenant improvements and leasing commissions.

October 16, 2012

Midwest Office

BUYER ACQUIRES MINNEAPOLIS OFFICE BUILDING TO CONVERT TO HOTEL

by admin October 16, 2012

MINNEAPOLIS — U.S. Hotel and Resort Management of Sioux Falls, S.D. has acquired an office building, located at 401 First Ave. N. in Minneapolis, for $2.7 million The Historic Warehouse District property contains 55,250 square feet. The buyer plans to develop the property into an upscale boutique hotel. Lou Suski and John Chirhart of Gaughan Cos./CORFAC International represented the seller, a local community bank, in the transaction. They also procured the buyer.

October 16, 2012

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