Midwest

84,000 SF INDUSTRIAL BUILDING SELLS

by admin May 26, 2011

SOUTH HOLLAND, ILL. — Universal Metal Hose, Inc. has purchased an 84,000-square-foot industrial building located at 1711 S. Wallace Ave. in South Holland. The buyer plans to consolidate operations from three existing Chicago locations into the new building. The property features 21.5-foot clear ceilings, 11 docks and 5,500 square feet of office space. Daniel Fanelli of Darwin Realty & Development Corp. represented the buyer. Grant Glattly and Pete Roberson of CB Richard Ellis represented the seller, Alliance Commercial Partners. The acquisition price was not released.

May 26, 2011

BANKERS L&C TAKES 134,724 SF AT CHICAGO HIGH-RISE

by admin May 26, 2011

CHICAGO — Bankers Life & Casualty Insurance Co., a wholly owned subsidiary of CNO Financial Group, has signed a 134,724-square-foot lease at 111 E. Wacker Drive in Chicago's East Loop. The tenant will occupy four floors of the 32-story tower for an 11.5-year term. Bankers L&C will relocate from 600 West Chicago to the new space next February. Brian Whiting and Jack McKinney, Jr., of J.F. McKinney & Associates represented the landlord, Parkway Properties, in lease negotiations. Lisa Konieczka of CB Richard Ellis represented Bankers L&C. Criag McKesson of Jones Lang LaSalle helped arrange the early termination of the lease for the space's current tenant, Health Care Service Corp.

May 26, 2011

Midwest Restaurant

SIX FORMER KFC RESTAURANTS SOLD IN CHICAGO

by admin May 26, 2011

CHICAGO — Millennium Properties has brokered the sale of six former KFC restaurants in Chicago. Daniel Hyman and Susan Silver worked on behalf of the lender to arrange the sale of the properties' sheriff's certificates rather than the deeds. The restaurants are located at 3333 West Armitage, 4320 W. North Ave., 3201 West Cermak, 6705 South Halsted, 737 East 87th and in Ravenswood. Separate parties purchased the properties. They are part of a larger 13-property portfolio that is being marketed for sale.

May 26, 2011

Industrial Midwest

M&M BROKERS SELF-STORAGE SALE IN OHIO

by admin May 26, 2011

BARBERTON, OHIO — Marcus & Millichap has brokered the sale of Sentry Stor-All, a 65,000-square-foot self-storage facility located in Barberton, for $1.1 million. Situated at 3001 Barber Road, the property was constructed in 1978. It contains 418 units and was 68 percent leased at the time of closing. Dan Burkons and Richard Schontz of Marcus & Millichap's Cleveland office represented the seller and buyer, both of which were undisclosed.

May 26, 2011

Midwest Office

AHEPA OPENS NEW CORPORATE HQ IN IND.

by admin May 26, 2011

FISHERS, IND. — AHEPA National Housing Corp., a nonprofit developer of affordable senior housing, has held the ribbon cutting for its new corporate headquarters. The developer and its subsidiary, AHEPA Management Co., have relocated to the 6,000-square-foot building, which is located within the Prairie View at Crosspoint office park at 10706 Sky Prairie St., from space it had previously been leasing on Shadeland Ave. in Indianapolis. The general contractor for the project was Quinn Construction, and the construction manager was R.A. Dine Co.

May 26, 2011

Midwest Retail

RPT BUYS 270,000 SF SHOPPING CENTER

by admin May 25, 2011

CREVE COEUR, MO. — Ramco-Gershenson Properties Trust (NYSE: RPT) has acquired Heritage Place, a 270,000-square-foot shopping center located in the St. Louis suburb of Creve Coeur. Situated at the intersection of Olive Boulevard and Ross Avenue, the property is anchored by a 74,721-square-foot Dierberg's Supermarket. Other tenants include Marshalls, T.J. Maxx, Office Depot and Petco. Occupancy was 90.1 percent at the time of closing. Heritage Place marks the fourth grocery-anchored shopping center RPT has purchased since the third quarter of 2010. The seller's name and acquisition price were not disclosed.

May 25, 2011

Midwest Seniors Housing

M&M BROKERS $6.5M SENIOR HOUSING SALE IN ILL.

by admin May 25, 2011

DECATUR, ILL. — Marcus & Millichap's National Seniors Housing Group has brokered the sale of Lincoln Manor, a 140-bed senior housing property in Decatur, for $6.5 million. Situated within a half-mile of Decatur Memorial Hospital, the property recently under went a substantial renovation. Mark Myers of Marcus & Millichap's Chicago office arranged the deal. The buyer and seller were undisclosed.

May 25, 2011

Midwest Retail

MACY'S TO OPEN NEW STORES IN ILL., WIS.

by admin May 25, 2011

GURNEE, ILL., AND GREENDALE, WIS. — Macy's has announced plans to open two new store in Illinois and Wisconsin. Both stores will open within malls currently be redeveloped by Simon Property Group. The first location will be a single-level, 140,000-square-foot store located within Gurnee Mills in Gurnee. The store will be built on the site of a former Circuit City and will open in spring 2013. The second location will be a two-level, 150,000-square-foot store located within Southridge Mall in Greendale. The former Younker's has been subdivided over the years and will be remodeled before opening in spring 2012.

May 25, 2011

Industrial Midwest

PRECIMED BUYS LAND IN IND. FOR MANUFACTURING PLANT

by admin May 25, 2011

FORT WAYNE, IND. — Precimed Inc., a division of Greatbatch Medical, has purchased 19.5 acres of land at 4723 Kroemer Road in Fort Wayne. The buyer plans to construct an 82,000-square-foot, high-tech manufacturing facility on the site. Bill Cupp of CB Richard Ellis | Sturges represented the buyer. The seller was not disclosed.

May 25, 2011

Midwest Multifamily

MICHIGAN APT COMMUNITY REFINANCED

by admin May 25, 2011

BRIGHTON, MICH. — Bernard Financial Group has arranged a $1.75 million loan for Lexington Manor Apartments, a 120-unit, garden-style community located in Brighton. Dennis Bernard and Kevin Kovachevich of Bernard originated the loan on behalf of Lexinton Manor Apartments LP. The lender was StanCorp Mortgage Investors.

May 25, 2011

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