Midwest

MCSHANE TO CONSTRUCT SEVEN-BUILDING APARTMENT COMPLEX IN OMAHA

by admin March 14, 2012

OMAHA — McShane Construction Co. will build the Springs at Legacy Commons, a 211-unit apartment development in Omaha. The project will be located on an 11-acre site at 2821 Legacy Commons Plaza. The complex will include seven separate two- and three-story buildings. Amenities will include a swimming pool, sun deck and clubhouse. McShane will also complete the construction of three storm shelters, four detached garages and additional surface parking for 464 vehicles. Wisconsin-based Kahler Slater is providing architectural services. Continental Properties is the developer of the project, which is slated for completion in 2013.

March 14, 2012

NEW TILE AND STONE FACILITY TO OPEN IN MINNETONKA

by admin March 14, 2012

MINNETONKA, MINN. —Minnesota Tile & Stone plans to open a new, 40,000-square-foot facility in Minnetonka on April 2. The building is a tile and stone retail and fabrication facility. Alan Dale, company owner, paid $7 million to purchase and rebuild the property. Minneapolis-based Tanek Inc. designed the facility and RJ Ryan of Mendota Heights, Minn. handled the construction.

March 14, 2012

Midwest Multifamily

208-UNIT APARTMENT COMPLEX SELLS FOR $13.8M IN INDIANA

by admin March 14, 2012

EVANSVILLE, IND. — Marcus & Millichap Real Estate Investment Services has closed on the $13.8 million sale of the 208-unit Cross Lake Apartments in Evansville. The 203,104-square-foot property is located at 7900 Circle Front Court. David Gaines of Marcus & Millichap's Chicago office and Alex Blagojevich of the firm's Tampa office represented the seller, a St. Louis, Mo.-based partnership. They also represented the buyer, a private partnership also in the St. Louis area.

March 14, 2012

Industrial Midwest

MERIDIAN TO DESIGN INDUSTRIAL COMPLEX

by admin March 13, 2012

CAROL STREAM, ILL. — MC², an event and trade show specialist, has selected Meridian Design Build to renovate a 50,000-square-foot building, located at 160 E. Fullerton in Carol Stream. Colony Realty Partners owns the single-tenant industrial building. The building will house MC²'s manufacturing operations, which will be relocated from its existing facility at 2120 S. Jefferson in Chicago. Ware Malcomb is providing architectural services for the project. Marat Safir of Taurus Realty Partners represented MC² in the deal. Tom Condon and Brian Kling of Colliers International's Rosemont, Ill. office represented the ownership.

March 13, 2012

Midwest Office

NORTHMARQ ARRANGES $4.8M FOR TERRACE HILL APARTMENTS

by admin March 13, 2012

ANOKA, MINN. — Brian Hennen of NorthMarq Capital's Minneapolis office arranged $4.8 million for the refinancing of Terrace Hill Apartments in Anoka. The 63-unit property is located at 14320 Dysprosium St. NW. AmeriSphere Mortgage Finance provided the 35-year loan, which has a 35-year amortization schedule.

March 13, 2012

Midwest Retail

DOLLAR TREES INKS NEW LEASE IN WESTLAND

by admin March 13, 2012

WESTLAND, MICH. — Dollar Tree has signed a new 10,000-square-foot lease in Wildwood Plaza, located at 34250 Ford Rd. in Westland. Jack Uhazie of the West Bloomfield, Mich. office of Mid-America Real Estate-Michigan represented the tenant in the transaction. Adam Goodman of Mid-America Real Estate-Michigan represented the landlord, Wildwood Properties, in the transaction.

March 13, 2012

Midwest

MANUFACTURED HOME COMMUNITY SELLS FOR $3.6M IN MOUNT MORRIS

by admin March 13, 2012

MOUNT MORRIS, ILL. — Mt. Morris Estates, a 170-space manufactured home community has sold in Mount Morris for $3.6 million. The community was 97 percent occupied at the time of sale. Bill Bailey and John Bailey of Marcus & Millichap's Chicago office represented the seller, a partnership. They also secured the buyer a private investor.

March 13, 2012

Midwest Retail

FLINT SHOPPING CENTER SELLS TO NEW YORK-BASED REALTY GROUP

by admin March 12, 2012

FLINT, MICH. — Great Neck, N.Y.-based Namdar Realty Group has acquired Eastridge Commons, a 169,676-square-foot shopping center in Flint, for an undisclosed amount. The shopping center's anchors include T.J. Maxx, Dollar Tree and Party City. Ben Wineman and Daniel Stern of Mid-America Real Estate Corp. represented the seller, Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust, in the transaction. The buyer was self-represented.

March 12, 2012

Industrial Midwest

STAG ACQUIRES A $6.8M WAREHOUSE AND DISTRIBUTION FACILITY

by admin March 12, 2012

SOUTH BEND, IND. — Boston-based Stag Industrial Inc. has acquired a warehouse and distribution facility in South Bend for $6.8 million. The 225,000-square-foot building was constructed in 1994 and is fully leased. The acquisition brings Stag's total acquisition volume to approximately $139.1 million since its initial public offering in April 2011.

March 12, 2012

Healthcare Midwest

HFF ARRANGES $32.5M FINANCING FOR UNITED HEALTHGROUP'S HEADQUARTERS

by admin March 12, 2012

EDEN PRAIRIE, MINN. — HFF has arranged $32.5 million in financing for the Eden Prairie headquarters of UnitedHealth Group's health services business, Optum. Bank of America Merrill Lynch provided the 10-year, fixed-rate loan. The 473,325-square-foot property is fully leased to UnitedHealth Group. Brandon Chavoya, Coler Yoakam and Mark West of HFF's Dallas office led the HFF team in the deal. The property is located at 13625 Technology Dr.

March 12, 2012

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