MILWAUKEE — A Chicago-based investment fund has purchased a 51,368-square-foot office building in Milwaukee for $14.1 million. The property is leased on a long-term basis to the U.S. General Services Administration and is occupied by the Drug Enforcement Administration. Isaac Metzger of Syndicated Equities represented the seller, a private real estate developer in the transaction. He also represented the buyer.
FAIRVIEW PARK, OHIO — Inland Real Estate Corp. has acquired Westgate Shopping Center, a grocery-anchored shopping center in Fairview Park, for $73.4 million. Recently, the 474,000-square-foot mall was converted from an enclosed to an outdoor mall. Tenants at the center include Lowe's Home Improvement, Kohl's and regional specialty grocer Earth Fare. It is currently 94 percent occupied. The company has also closed a 10-year, 4.9 percent fixed-rate mortgage loan of $40.4 million on the property.
SCHAUMBURG, ILL. — Leopardo has completed a build-out of Thermos' new corporate headquarters in Schaumburg. Thermos, a beverage container manufacturer, is relocating from Rolling Meadows to its new, 25,000-square-foot office at 475 N. Martingale Rd. The building includes conference rooms, executive offices, a research and development lab and a photography studio. Hoffman Estates, Ill.-based Leopardo served as general contractor, with Torchia Associates as the architect. Ken Soltis Associates served as project manager.
INDEPENDENCE, MO. — Plan B, a commercial sweeping and cleaning company, has signed a 9,600-square-foot lease for a new headquarters facility in Independence. The property is located at 301 N. Kiger, and Plan B will transfer 14 employees to the new location. John Hassler of Zimmer Real Estate Services represented the tenant in the transaction. The landlord is Block Real Estate Services.
WAUSAU, WIS. — Wausau-based Lokre Cos. has negotiated the $1 million sale of a 21,930-square-foot retail building in Wausau. Victor Anderson of Lokre Cos. represented the buyer, RS Holdings, in the transaction. Patrick Gallagher and Matson Holbrook of Siegel-Gallagher represented the seller.
MINNEAPOLIS — U Save Foods, a subsidiary of Minneapolis-based food distributor Nash Finch Co., has agreed to buy Bag 'N Save supermarkets in Omaha and York, Neb. While terms of the deal were undisclosed, the buyout will give Nash Finch 11 Bag 'N Save stores in the Omaha area and one in York. The deal is expected to close in the second quarter. Bag 'N Save is a family grocery chain founded in 1981.
CHICAGO — Kennedy Funding has arranged a $1.2 million loan for the refinancing of Wrightwood Crossing, a residential condominium in Chicago. 1307 Wrightwood Lender LLC provided the loan to the borrower, 1307 W. Wrightwood II LLC. The property includes 19 residential units ranging from 1,510 to 2,720 square feet.
KANSAS CITY, KAN. — David Farrell of NorthMarq Capital's Kansas City office has arranged $22.9 million in first-mortgage financing for three multifamily properties in Kansas, Ohio and Tennessee. The properties contain a total of 491 units. Pinnacle Woods Apartments, located at 5000 Clinton Parkway in Lawrence, Kan., contains 208 units and received financing totaling $10.4 million. Village West Apartments, located at 884 Thurber Dr. West in Columbus, Ohio, contains 115 units and received $6.6 million in refinancing proceeds. Walker Springs Apartments, located at 721 Walker Springs in Knoxville, Tenn., contains 168 units and was refinanced at $5.8 million. Each of the loans is for 10 years with a 30-year amortization schedule. Freddie Mac provided the loans.
KANSAS CITY, MO. — Kansas City-based Block Real Estate Services is selling former school buildings on behalf of Kansas City Public Schools. Block has received offers for the surplus space and completed the marketing process of several of these properties including Askew, Bingham, Blenheim, Bryant and Swinney schools. McCoy Elementary remains available as there were no qualified offers received in the first round. Block is working through a second round of properties offered by Kansas City Public Schools. These properties include the former Dunbar Elementary, Moore Elementary, Northeast Middle School, Thatcher Elementary, Westport High School and Westport Middle School.
FOND DU LAC, WIS. — Family Dollar, a discount retailer, has leased 8,400 square feet at 528 W. Johnson St. in Fond du Lac. Brian Gingrass and Jon Thoresen of the Milwaukee office of Commercial Property Associates represented the landlord, Kin Properties, in the transaction.
