COLUMBUS, OHIO — Boston-based Stag Industrial Inc. has acquired a 380,000-square-foot warehouse and distribution facility located near Columbus, Ohio for $7.8 million. The facility is fully leased to Ridgeland, Mo.-based Arrow-Intechra LLC with more than six years remaining on the lease.
Midwest
EAST LANSING, MICH. — Walker & Dunlop LLC has arranged the financing for a 220-unit student housing development in East Lansing, Mich. An additional student housing development will be located in Louisiana. Will Baker of Walker & Dunlop arranged the financing, while Kayne Anderson Real Estate Advisers originated the loan. The loan has a 10-year term with one-year interest and a 30-year amortization schedule.
WITCHITA, KAN. — Sarasota-Fla.-based LUX Building, LLC has purchased Protection One, a seven-story office building, located in downtown Witchita, Kan., for an undisclosed amount. LUX Building plans to maintain the building's original character, and architectural features will be maintained and repurposed through a modern design.
CLEVELAND– Cleveland-based Luttner Real Estate Investment Services has arranged the sale of two freestanding Sherwin-Williams stores, located in the Midwest, for approximately $1.5 million and $1.4 million. Mark Luttner of Luttner Real Estate Investment Services represented the seller, WXZ Development Group. Luttner also procured the buyer, a private investment group.
STREETSBORO, OHIO — Luttner Real Estate Investment Services has arranged the $19.6 million sale of a 368,060-square-foot distribution center, located in Streetsboro. The property is fully leased to Best Buy. Mark Luttner of Luttner Real Estate represented the seller, Ohio-based GEIS Cos., in the transaction. The buyer was a New Jersey based public REIT.
NAPERVILLE, ILL. — JBS Logistics has signed a 303,800-square-foot lease at Building 3 of Prairie Pointe Corporate Center, located at 2043 Corporate Ln. in Naperville. Jeff Fischer of NAI Hiffman represented the tenant in the lease transaction. Rick Daly and Cory Ramey of Darwin Realty represented the landlord, IDI and TIAA.
WEST ALLIS, WIS. — Winter Services has purchased a 33,400-square-foot industrial building, located at West Allis, from Rose Investments. Maximilian Yokosh and Kenneth Braden of Milwaukee-based Cassidy Turley Barry represented the seller in the transaction. Adam Matson of NAI — MLG Commercial represented the buyer.
CONNERSVILLE, IND. — Carbon Motors Corp. has commenced refurbishing the Carbon Campus facility in Connersville. Shook Construction has been selected to lead construction efforts, and Moody Nolan has designed the renovation.
CHICAGO — NorthMarq Capital has arranged $8.3 million in first mortgage financing for an eight-story office building, located at 626 W. Jackson in Chicago. Jeff Cherner and Rup Patel of NorthMarq's Chicago office arranged the financing with a 5-year term and a 25-year amortization schedule through First Merit Bank on behalf of the borrower, an affiliate of Chicago-based Sterling Bay Cos. The property is currently 100 percent leased.
AVON, OHIO — The Richard E. Jacobs Group has sold a retail location leased to AutoZone in Avon for $1.02 million. Mark Luttner of Luttner Real Estate Investment Services represented the seller in the transaction.