OVERLAND PARK, KAN. — Cohen Financial has secured a $14.5 million loan for the refinancing of the Waddell & Reed office building in Overland Park. Located at 6301 Glenwood Ave., the 107,320-square-foot building is fully leased to Waddell & Reed. Brandon Harrington of Cohen Financial originated the 10-year, low interest fixed-rate loan, which carries a 25-year amortization schedule. Goldman Sachs Commercial Mortgage Capital provided the loan.
Midwest
COLUMBUS, OHIO — Menards has acquired a 20-acre site at Columbus Corporate Center, which is located on East Broad Street at Rosehill Road in Columbus. The company plans to construct a 160,000-square-foot store on the site. This location will be Menards second store in Columbus. Additionally as part of the project, Brice Road will be completed to the north of the Menards site. CASTO brokered the transaction. Terms of the sale were not released.
BEDFORD HEIGHTS, OHIO — NAI Daus has brokered two lease transactions for a total of 137,400 square feet of office and warehouse space at 5111 Richmond Road in Bedford Heights. Decker Equipment Co., a supplier of used forklifts and lift trucks, has leased 61,500 square feet at the building, while Brand Castle LLC, a producer of cooking and baking kits, leased 75,900 square feet at the property. Todd Gardiner & Associates represented Decker Equipment Co., and Coven-Goldman Associates represented Brand Castle LLC. Robert Wetzel and Scott Garson of NAI Daus represented the landlord, Samson Realty Co., in the transaction. Terms of the leases were not released.
TROY, MICH. — Colliers International has negotiated the sale of an industrial facility in Troy. Located at 2568-2474 Elliot Drive, the property offers 9,600 square feet of industrial space. Peter E. Kepic and Peter J. Kepic of Colliers International represented the seller, 2568 Elliott LLC, in the transaction. The buyer and acquisition price were not released.
DUNDEE, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.28 million credit-tenant lease loan for the acquisition of a retail property in Dundee. The asset is a 13,650-square-foot Walgreens location. Steven Wiltshire of MMCC's Portland, Ore., office arranged the financing. The loan is for 23 years with a 23-year amortization schedule and a fixed interest rate of 6.05 percent.
ALBION, IND. — Minthorn Enterprises LLC has acquired a 42,750-square-foot site on 4.34 acres in Albion. Located at 71 E. 400 South, the property will be the future site of OPI Medical Headquarters – Orthopedic Precision Instruments. Alex Genova of CB Richard Ellis | Sturges represented the buyer and the seller, Group Dekko Inc., in the transaction. The acquisition price was not released.
FORT WAYNE, IND. — Voss Automotive Inc. has leased 24,000 square feet at 7625 DiSalle Blvd. in Fort Wayne. Bill Cupp of CB Richard Ellis | Sturges represented the landlord, S & W Investments, in the transaction. Terms of the lease were not released.
WYOMING, MICH. — Franklin Partners is redeveloping and renovating 4247 Eastern Avenue S.E. in Wyoming. The company is raising the roof on the 324,000-square-foot factory, which was declared functionally obsolete, from 15 to 32 feet clear height on more than 70 percent of the building. Once completed in March, Grand Rapids, Mich.-based Undercar Products plans to utilize the facility to manufacture automotive components. Built in the 1950s, the facility has been vacant since 2007. Franklin had partnered with Canada-based Rooflifters to add the addition clear height to the existing building. Additionally, Franklin Partners plans to upgrade the buildings' exterior and construct offices and an enhanced parking area. Colliers International | West Michigan brokered the building transaction with Undercar Products.
HOWELL, MICH. — Michigan Automatic Turning has acquired 112,500 square feet of industrial space in Howell. Arete Industries sold the property, which is located at 1045 Durant Dr. Jim Montgomery of Signature Associates represented the buyer; Montgomery and Steven Gordon, also of Signature Associates, represented the seller in the transaction. The acquisition price was not released.
BLOOMFIELD TOWNSHIP, MICH. — Bataan LLC has purchased a 4,700-square-foot property in Bloomfield Township for an undisclosed price. The property, which is located at 2274 Telegraph Road, was sold by John Wohlfeil Jr. Tony Schmitt of Mid-America Real Estate – Michigan represented the seller in the transaction.