CHICAGO — A 13,439-square-foot, freestanding Walgreens, located at 5753 N. Canfield Rd. in Chicago, has sold for $4.65 million. Isaac Metzger of Syndicated Equities represented both the seller, an affiliate of Chicago-based Syndicated Equities, and the buyer, an institutional investor.
Midwest
OMAHA AND LINCOLN, NEB. — Pacific Realty Group, with offices in Omaha and Lincoln, has joined Colliers International. Colliers has more than 15,000 employees in more than 480 offices worldwide. In 2010, Pacific Realty Group managed a portfolio of nearly 4.8 million square feet and was involved in 320 leasing and sale transactions comprising 2.4 million square feet of space and more than half a million square feet of land. Pacific Realty employs 62 professionals in its two offices.
MEDINA, OHIO. — Stonegate Corner, a two-tentant retail building currently leased to Panera Bread and Bullies' BBQ, located in Medina, sold for $2.35 million. Mark Luttner of the Luttner Retail Group marketed the property and procured the buyer, an out-of-state investor.
MACOMB, MICH. — A 27,610-square-foot industrial facility, located a 24700 Wood Court in Macomb, has sold for an undisclosed price to Cox Industries. Cox is doubling in size and expanding from its Chesterfield Township, Mich., facility. Joe DePonio and Jason Capitani of Troy, Mich.-based L. Mason Capitani CORFAC International represented the buyer and the seller.
LAFAYETTE AND VALPARAISO, IND. — New York-based Broad Street Advisors has arranged an equity investment for two Indiana lifestyle centers totaling 440,449 square feet. The joint venture is between an undisclosed U.S.-based institutional investor provided equity to Indianapolis-based Lauth Group, the prior owner and developer of the property. The first property is the 337,652-square-foot, Class A lifestyle center Lafayette Pavilions, located in Lafayette. It is 85 percent occupied and anchored by TJ Maxx, Office Depot and Hobby Lobby. The second is the 91,897-square-foot, Class A shopping center Porter's Vale, located in Valparaiso. It is 81 percent leased and anchored by Cinemark, Justice and Rue 21.
BROOKLYN PARK, MINN. — Diversified Distribution Systems has leased 124,000 square feet at 7401 Boone Ave. in Brooklyn Park. The bulk warehouse building, formerly known as the Wilson's Leather Buliding, is owned by Minot, N.D.-based Investors Real Estate Trust. The landlord was represented by Jason Meyer, Brent Masica and Dan Lofgren of NorthMarq's Minneapolis office. The tenant was represented by Tim Nesvold of Real Estate Advisors' Minneapolis office.
CHICAGO — The 51,117-square-foot, 2-story retail and commercial property Belden Cetnre, located at 2301-15 N. Clark in Chicago, has been sold for an undisclosed price. The seller, Commercial Property Management, was represented by Keely Polczynski of CB Richard Ellis' Chicago office. The self-represented buyer, a joint venture between Rosemont, Ill.-based ACG Equities and Chicago-based Purinton Development, plans to renovate and revitalize the property.
COLUMBUS, OHIO — Ohio University is building an extension campus in Central Ohio using a $105 million donation from Columbus-based Osteopathic Heritage Foundations. The payment will be spread over 16 years from the foundation's usual annual outlay of about $13 million. The gift will also be used to add faculty and research on the Athens, Ohio, campus for diabetes and conditions striking the skeleton, muscles and nervous system. More than half of the gift — $67 million — will be used for three new buildings, which will open in 2014.
CHICAGO — Virginia-based The Harbor Group has purchased a 4-store retail portfolio, for approximately $28.37 million from Chicago-based Centrum Properties. Three of the properties are in Chicago and one is in Wheaton, Ill. Brandon Duff and Brad Feller with Stan Johnson Company's Chicago office represented both the buyer and the seller in the transaction.
GRAND RAPIDS, MICH. — A $4.82 million renovation and mini-perm loan was provided in Grand Rapids for the 31,139-square-foot Flat Iron building. The office building is a four-story property with street-level retail space. The loan was arranged by Colliers International's West Michigan office through Chicago-based Cohen Financial for the borrower, Grand Rapids-based Locus Development. The developer is focused on revitalizing and redeveloping unique urban properties.