Midwest

DOCK STREET APARTMENTS BREAK GROUND IN MINNEAPOLIS

by admin September 19, 2012

MINNEAPOLIS — AFL-CIO Building Investment Trust is breaking ground today on Dock Street Apartments, a new multifamily complex in the North Loop neighborhood of Minneapolis. The six-story complex will be located at 333 North Washington Ave. N. The project will include 185 market-priced rental units, 3,000 square feet of retail space and a two-level parking garage with 190 spaces. The Dock Street Apartments are part of a larger development plan for the area called North Green Loop, and will include future phases of residential, retail and office space.

September 19, 2012

FORMER BLOCKBUSTER VIDEO SELLS IN CARY

by admin September 19, 2012

CARY, ILL. — Quantum Real Estate Advisors has arranged the sale of a vacant, 6,520-square-foot former Blockbuster Video property at 536 Northwest Highway in Cary. The property was sold to a local Meineke franchisee for $825,000. Jordan Kaufman of Quantum Real Estate Advisors and Peter Caruso of Mid-America represented the seller, a group of private individuals from California, in the transaction. Ryan Samuelson of Corcoran Commercial Real Estate represented the buyer.

September 19, 2012

Industrial Midwest

NAI HIFFMAN BROKERS THREE INDUSTRIAL DEALS IN ELK GROVE VILLAGE

by admin September 19, 2012

ELK GROVE VILLAGE, ILL. — NAI Hiffman has arranged industrial lease transactions totaling 55,000 square feet in Elk Grove Village. In the largest of the three deals, Rational Cooking renewed its lease for 24,000 square feet at 1645 Greenleaf Ave. At 1485 Greenleaf Ave., Cristall Thread & Supply signed a new lease for 12,000 square feet. The company, a sewing threads and supplies provider, required a larger space and is moving from its former location at 690 Lunt Ave. Joe Bronson of NAI Hiffman represented the landlord, Mirvac, in both transactions. Rob Wheeler of Cresa Partners represented Rational Cooking and Tom Gath of Grubb & Ellis represented Cristall. Additionally, Land Air Express renewed its lease for 19,424 square feet at 2300 Estes Ave. Bronson represented the tenant. Prologis, the landlord, was self-represented.

September 19, 2012

Midwest Office

SYSMEX CORPORATE CENTER BUILDING TRADES FOR $49.7M

by admin September 18, 2012

LINCOLNSHIRE, ILL. — An affiliate of Cole Real Estate Investments has purchased Sysmex Corporate Center, a 162,739-square-foot office property in Lincolnshire, for $49.7 million. The Class A facility is fully occupied and triple-net leased to Sysmex American Inc., for its North and South American headquarters. The company develops and sells clinical laboratory equipment. Jeff Bramson, Jaime Fink and Mark Katz led the HFF team that represented the sellers, Bridge Development Co. and Globe Corp., in the transaction.

September 18, 2012

Midwest Multifamily

TNP ACQUIRES THE RESERVE IN EVANSVILLE

by admin September 18, 2012

EVANSVILLE, IND. — Thompson National Properties LLC has acquired The Reserve, a 158-unit apartment complex at 700 Reserve Blvd. in Evansville. The 169,633-square-foot property is fully occupied. Units average 1,100 square feet and feature hardwood flooring and stainless steel appliances. Amenities include a clubhouse and swimming pool. David Gaines and Alex Blagojevich of Marcus & Millichap represented the seller, SC Bodner Co. Inc.

September 18, 2012

Industrial Midwest

STAG ACQUIRES DISTRIBUTION FACILITY NEAR GREEN BAY FOR $9.3M

by admin September 18, 2012

GREEN BAY, WIS. — Stag Industrial has acquired a 200,000-square-foot warehouse and distribution facility near Green Bay for $9.3 million. The building is fully leased to a logistics company, which has five years remaining on its lease. The acquisition brings Stag's total acquisition volume to approximately $174 million.

September 18, 2012

Midwest Multifamily

GOLDOLLER EXPANDS PORTFOLIO BY 624 APARTMENT UNITS

by admin September 18, 2012

KANSAS CITY, MO. — GoldOller Real Estate Investments has acquired The Crossing At Barry Road, a 624-unit apartment building in Kansas City, for $55 million. With its acquisition, GoldOller now owns and manages approximately 2,000 units in metropolitan Kanas City and ranks among the city's largest residential landlords. The property contains two resort-style swimming pools, a tennis court, and clubhouse.

September 18, 2012

Midwest Retail

CINCINNATI ASIAN MARKET EXPANDS AT VILLAGE CROSSING CENTER

by admin September 18, 2012

CINCINNATI — Cincinnati's Asian Supermarket is undergoing a major expansion at its current location in the Village Crossing Center at 10400 Reading Road in Evendale. The market will expand to 30,812 square feet, nearly doubling its current size. The new international market is slated for completion prior to Christmas 2012. Cindy Metz of NAI Bergman negotiated the 11-year lease. The market includes produce, meat and fish from Japan, Korea, Vietnam, Thailand, India, the Philippines and Indonesia.

September 18, 2012

Midwest Office

CORNERSTONE BRANDS HEADQUARTERS BUILDING TRADES FOR $49.6M

by admin September 17, 2012

WEST CHESTER, OHIO — SK Realty Management has acquired a 970,000-square-foot office complex in suburban Cincinnati, which serves as the headquarters and distribution facility for Cornerstone Brands, for $49.6 million. The complex is located in the Union Centre Commerce Park in West Chester, along the I-75 corridor between Cincinnati and Dayton. The complex has been home to Cornerstone Brands since its completion in 1999. Along with office and distribution space, the building also contains 61,800 square feet of retail space. Suzanne Martinez and Matt Hoffman of Avison Young represented the seller, Inland American, in the transaction.

September 17, 2012

Industrial Midwest

HOLLADAY PROPERTIES BUYS 539,137 SF DISTRIBUTION CENTER

by admin September 17, 2012

SOUTH BEND, IND. — Holladay Properties and an unnamed joint venture partner have purchased the former 529,137-square-foot AJ Wright building, located at 1905 W. Sample St. in South Bend. The new owners named the property Interstate 80 Commerce Center and aim to attract a national and regional tenant mix that provides services to the Midwest. The property is located near I-80 and was developed in 2005 as an AJ Wright distribution center. The facility features 24,547 square feet of office space, 88 docks and 32- and 46-foot ceiling heights.

September 17, 2012

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