WEBSTER GROVES, MO. — ARCO Construction Co. has been selected to build the $18 million, 80-unit Provision Living at Webster Groves, a senior housing project located at 45 E. Lockwood in Webster Groves. On-site amenities will include medical, rehabilitation, wellness and retail space. Completion is slated for summer 2012.
LAKEVILLE AND CHAMPLIN, MINN. — NorthMarq Capital's Minneapolis office has represented landowners in Lakeville and Champlin in transactions with Goodwill Industries. In Lakeville, Jen Helm and Ronn Thomas represented Stonehenge USA in a build-to-suit lease with Goodwill. Stonehenge will build a 20,600-square-foot store for Goodwill at the intersection of Kendrick Avenue and Kenwood Trail. Laura Moore of Adam Commercial Real Estate represented Goodwill. In Champlin, Tricia Pitchford represented CMK Champlin Holdings in the sale of 2.5 acres just north of the intersection of Highway 169 and 117th Avenue North, where Goodwill plans to start construction later this year on its first Champlin store. George Bestrom represented Goodwill in the sale.
CHICAGO — Chicago-based Essex Realty Group has arranged the $2.15 million sale of the 38-unit Columbia Gardens, a condominium conversion project located at 1615-25 W. Columbia in Chicago. Seven of the units had been sold and the remaining 31 units were sold in bulk in this deal. Jim Darrow and Jordan Gottlieb of Essex were the sole brokers in the transaction.
HUBER HEIGHTS, OHIO — EnTrust Realty Advisors has negotiated the sale of the 49,453-square-foot Good Samaritan Health Center, a medical office building in Huber Heights. The two-story building is 80 percent leased and is anchored by Good Samaritan Hospital, which leases half of the space. EnTrust represented the seller, The Alter Group. The buyer is a joint venture established by Columbus, Ohio-based Equity, Inc.
MILWAUKEE — Brennan Investment Group has completed the sale-leaseback of a 95,500-square-foot industrial property located at 11225 Heather Ave. in Milwaukee to Integrated Filing Solutions for an undisclosed price. Sam Dickman, Jr., of Milwaukee, Wis.-based The Dickman Co. represented the tenant in the transactions.
CHICAGO — Chicago-based general contractors Safeway Construction and Weis Builders have completed construction on the 45-unit King Legacy Apartments, an affordable apartment complex in Chicago. The three-story complex contains six retail units on the first floor. The Martin Luther King Fair Housing Exhibit Center is the main retail tenant.
CHICAGO — Jeff Cherner with NorthMarq Capital's Chicago office has arranged $8 million in financing for a 67,690-square-foot office building located at 114 S. Racine in Chicago. Major tenants include Intercultural Montessori School, CCMSI and C.H. Robinson Worldwide. Financing was based on a 7-year term with a 25-year amortization schedule and was secured on behalf of the borrower, The Sterling Bay Cos., through a regional bank.
SALINA, KAN. — The 6,533-square-foot Logan's Roadhouse restaurant, located at 3050 Riffel Dr. in Salina, has been sold for $1.44 million. Randy Blakstein and Jimmy Goodman of Northbrook, Ill.-based The Boulder Group represented the buyer, a Chicago-based investor. The seller was a Kansas-based developer.
URBANA, ILL. — New York City-based NAI Chesterfield has arranged debt restructuring for the owners of a 74-room Holiday Inn Express and a 202-room Holiday Inn both of which are located in Urbana. The hotels were losing more than $1.2 million and the borrowers were at risk for a potential $9 million liability of personal guaranties. NAI Chesterfield negotiated with the lender, an investment group that recently acquired the loan, to settle for a 97 percent discount from those guaranties.
FREMONT, OHIO — Toledo, Ohio-based Tolson Investments has broken ground for the 21,000-square-foot Liberty Square II in Fremont. 75 percent of the space is pre-leased to national tenants and Wal-Mart will shadow anchor the center. Completion is slated for fall 2011. Pre-leasing has also begun for an expansion of the center, which will occur in 2012.
