TRAVERSE CITY, MICH. — San Diego, Calif.-based Trigild has been selected as the asset manager for the 590,000-square-foot The Grand Traverse Mall, an enclosed mall in Traverse City. The firm's responsibilities include leasing space to tenants and planning a disposition strategy for a profitable sale. Trigild has selected Dallas-based Trademark Properties as the mall's property management firm. The enclosed mall is occupied by national tenants such as Macy's, JC Penney, Target and TJ Maxx.
STREETSBORO, OHIO — Monmouth Real Estate Investment Corp. has acquired a 368,060-square-foot industrial building, located in the Interstate Commerce Center Industrial Park in Streetsboro, for $19.6 million. The property is net-leased through August 2021 to Best Buy Warehousing Logistics.
CLEVELAND — Grubb & Ellis has negotiated the $1.7 million sale of a 198,000-square-foot industrial property Unit No. 2, located at 777 Lena Dr. in Cleveland. The property is part of the former Lucas Aerospace Building. Terry Coyne of Grubb & Ellis' Cleveland office represented the seller, PB IL OREO, in the transaction. The buyer was Lena Commerce.
CHICAGO — HSA — Primecare has selected Premier Design + Build Group of the 22,500-square-foot Silver Cross Hospital & University of Chicago Medical Center Cancer Center tenant improvements. In addition to medial exam rooms and physician offices, construction includes a variety of cancer treatment procedure area including chemotherapy infusion bays, computed tomography imaging and radiation oncology via linear accelerator radiotherapy equipment. Completion is slated for spring 2012.
GRAND BLANC, MICH. — Ciena Healthcare has broken ground on the $8.5 million, 74-room Grand Blanc Care Center, a skilled nursing community located at 1330 Grand Pointe Ct. in Grand Blanc. The 68,000-square-foot facility will include short-term rehabilitation and long-term care suites, six bariatric rooms, a rehabilitative therapy room and a spa. Completion is slated for the summer of 2012.
MILWAUKEE — Micro Center has purchased a 5.7-acre former car dealership, located at 11221 and 11333 W. Burleigh St. in Milwaukee, from Michael S. Polsky, the court-approved receiver of the property, for $1.35 million. Don Zien of CBRE's Milwaukee office along with Joel Schneider of Atlas Partners' Chicago office represented the seller in the transaction.
ALTON, ILL. — NorthMarq Capital has arranged a $1.15 million, 2-year construction loan for a 2,714-square-foot Burger King, located at Homer Adams Parkway and Gold Road in Alton. Jeff Chaney, David Garfinkel and Mike Afentoullis of NorthMarq's St. Louis office secured the loan on behalf of the borrower, KS Real Estate. The property is fully leased to Burger King for 20 years.
CHICAGO — The 105,000-square-foot Village Market, located at 333 Benton Pl. in Chicago, has opened its two anchor tenants — a 55,000-square-foot Mariano’s Fresh Market, and a 13,000-square-foot III Forks Prime Steakhouse. Additional tenants to open in 2012 include Maison A Brasserie, Eggy’s and Cuticle Nail Salon. Magellan Development Group and Hanwha Engineering & Construction were the joint venture developers on the project. Loewenberg Architects designed the property for LEED Silver certification and McHugh Construction built it.
CALEDONIA, WIS. — The 40-unit Maplewood Apartments, located at 3017 Six Mile Rd. & 6900 Middle Rd. in Caledonia, has sold for $2.25 million. Gordon Steimle and Susan Sardina of Milwaukee-based Ogden & Co. represented Maplewood Associates, the buyer, in the transaction.
OVERLAND PARK, KAN. — NorthMarq Capital has arranged $5.28 million in first mortgage financing for the 136-unit Bremerton Park, located at 6313 W. 75th St. in Overland Park. Greg Duvall of NorthMarq's Kansas City, Kan., office closed the 10-year loan with a 30-year amortization schedule through Freddie Mac.
