COLUMBUS — D+S Distribution Inc., a Wooster, Ohio-based warehousing and transportation company, has signed a 20,000-square-foot industrial lease at 320 Outerbelt St. in Columbus. Rick Trott and Kevin McGrath of Cassidy Turley's Columbus office represented D+S in the transaction. The landlord is 320 Outerbelt LLC.
ELK GROVE VILLAGE, ILL. —Chicago-based Bridge Development Partners has acquired a 212,200-square-foot industrial facility, located at 2201 Lunt Ave. in Elk Grove Village. Bridge and its capital partner, Wanxiang America Corp. of Elgin, Ill., paid $3.6 million for the property. The facility is currently leased to stationary company House of Doolittle and trucking firm CR Express. Bridge plans to redevelop the property into an air cargo building with 35 docks. Construction is scheduled for the spring of 2013. David Bercu, Thomas Rodeno and Patrick Turner of the Rosemont, Ill. office of Colliers International represented the seller, Minnetoka, Minn.-based Welsh Cos.
DES MOINES — Riverpoint Lofts, an urban apartment community in downtown Des Moines, opened Feb. 2. Developer Hubbell Construction Services broke ground on the $10 million project in early 2011. The former Sealy's Mattress Building was converted into 91 loft apartments, which range in size from 526 square feet to more than 1,400 square feet. Riverpoint includes a community garden, video game room, a business center and a fitness center. About 70 of the 91 units have been leased.
SIOUX FALLS, S.D. — John Reed of NorthMarq Capital's Omaha office arranged $11 million for the first mortgage refinancing of West Briar Commons, a 153-unit apartment complex in Sioux Falls. The 159,765-square-foot property is located at 2805 S. Hidden Place. Freddie Mac financed the 10-year loan, which has a 30-year amortization schedule. The borrower was West Briar Commons LLC.
TOPEKA — NorthMarq Capital has secured $9.4 million for the first mortgage refinancing of Lowe's Home Improvement Center, a 135,000-square-foot property in Topeka. The 7-year loan has a 25-year amortization schedule. Jeffrey Haskell of NorthMarq arranged the loan through a regional bank. The borrower is a private investor.
COLUMBUS, OHIO — KeyBank Real Estate Capital closed on a $44 million loan to refinance three multifamily communities in the Columbus market. The properties include Kenyon Square, located at 9220 Worthington Rd.; Alexander Square, located at 747 Worthington Woods Blvd.; and Mercer Square, located at 7331 Skyline Dr. KeyBank originated the loan through Freddie Mac. The borrower was developer Preferred Living.
KANSAS CITY, M.O. —Pembrook Capital Management has closed on a $32 million tax-exempt bond for Antheus Capital's redevelopment of a 600-unit apartment portfolio in Kansas City. The portfolio includes 11 historic pre-war buildings located along Armour Boulevard in Kansas City. Antheus purchased the property, which is currently largely unoccupied, for $60.5 million. The developer is renovating the entire portfolio, which will return to the market as apartment rentals. The bond was partially financed by an undisclosed large financial institution.
CHICAGO — Sperry Van Ness has sold two West Loop properties, totaling $1.9 million, in Chicago. Scott Maesel represented the seller of 1328 W. Randolph, formerly known as the Weinstein Meatpacking Building. A private investor purchased the 14,700-square-foot building for about $1.1 million. Maesel also represented both parties in a transaction at 935 W. Randolph. The 7,200-square-foot former meatpacking building had housed the Jos. A. Baumgartner Co. since 1977. A private investment group purchased the property for $725,000 and will redevelop the building into a mixed-use property.
BROOKINGS, S.D. — Chicago-based Bel Brands USA — the maker of Laughing Cow, Mini Baybel and Boursin Cheese — plans to build a new 170,000-square-foot manufacturing facility in Brookings. The $100 million facility will employ more than 200 workers once the plant becomes fully operational in 2014. The company plans to break ground this summer on a 42-acre land parcel along 32 Avenue, near the I-29 cooridor. The facility will be used to produce Bel Brands' Mini Baybel cheese. Dan Maslauski, Brian Chernett, Ann Woessner-Collins, Kris Bjorson, Dan McGillicuddy and Rich Thompsen of Jones Lang LaSalle assisted Bel Brands in the site selection process.
NORTH OLMSTED, OHIO — Love Funding has closed on a $4.7 million loan to refinance Olmsted Manor Care Center, a 74-unit skilled nursing facility in North Olmsted. Bruce Gerhart and Robert Smallwood of Love Funding's Cleveland office secured the loan through a U.S. Department of Housing and Urban Development program. The loan has a 30-year term.