BLAIR, NEB. — Omaha, Neb.-based The Lund Co. has negotiated the $3.63 million sale of the 72-unit Deerfield Apartments, located at 1274 Deerfield Blvd. in Blair, to AV Legacy Holdings. Rich Secor of The Lund Co. represented the seller, Blair Apartments, LLC, in the transaction.
EVANSTON, ILL. — Chicago-based Essex Realty Group has arranged the $1.12 million sale of a 13-unit, walk-up apartment building, located on the corner of Monroe Street and Sherman Avenue in Evanston. Doug Imber and Kate Varde of Essex represented the undisclosed seller and Jim Darrow, also of Essex, represented the undisclosed buyer.
AVON, OHIO — Luttner Real Estate Investments Services has arranged the $1.07 million sale of an Arby's ground lease in Avon. The property has 17.5 years remaining on the initial 20-year lease. Mark Luttner of Luttner's Chicago office represented the seller, The Richard E. Jacobs Group, and procured the buyer, a California-based private 1031 investor.
BEDFORD PARK, ILL. — Taphandles has signed a lease for a 52,344-square-foot industrial building, located at 742- S. Meade Ave. in Bedford Park. Brian Vanosky of Lee & Associates' Chicago office represented the landlord, Cobalt Capital Partners, and Mike Mangan of CB Richard Ellis' Chicago office represented the tenant in the transaction.
CHICAGO — Chicago-based Essex Realty Group has negotiated the $4.1 million sale of 26 residential units in the 107-unit Eastgate Village, a master-planned community located at 306 E. 25th St. in Chicago. The units contained 10 condominiums and 16 townhomes. Jim Darrow and Jordan Gottlieb of Essex represented the seller, a regional bank, and Matt Welke, also of Essex, represented the buyer, a private investor.
AVON, OHIO — Luttner Real Estate Investments Services has arranged the $3.82 million sale of a J.C. Penney ground lease in Avon. The property has 17.5 years remaining on the initial 20-year lease. Mark Luttner of Luttner's Chicago office represented the seller, The Richard E. Jacobs Group, and procured the buyer, a private investor.
GLENDALE, WIS. — Milwuakee-based The Dickman Co./CORFAC International has brokered the $3.63 million sale of the 104,400-square-foot Glendale Business Center, a three-building industrial center located at 6575-6693 N. Sidney Place in Glendale. Brian Parrish of The Dickman Co./CORFAC International represented both parties in the transaction. Glendale Business Center, LLC, was the seller and Hakadull Properties was the buyer.
KOKOMO, ROCHESTER AND ANDERSON, IND. — St. Paul, Minn.-based Oak Grove Capital has arranged $18.3 million in acquisition financing through its Fannie Mae DUS program on behalf of Capital Senior Living Corp. The 10-year loans have a 30-year amortization schedule and were used to purchase the 78-unit Green Tree of Kokomo in Kokomo and the 50-unit Wynnfield Crossing in Rochester. A loan on the 58-unit Keystone Woods in Anderson is expected to close mid-September.
PORT HURON, MICH. — Ontario, Canada-based GMA Cover Corp. has signed a 66,000-square-foot lease at an industrial property located at 1720 Dove St. in Port Huron. Jason Capitani and Joe DePonio of Troy, Mich.-based L. Mason Capitani represented the landlord, Dove Street Industrial 2, in the lease transaction.
The Cleveland real estate market can be characterized by a variety of ‘good news/bad news’ stories. For example, American Greetings announced earlier this year that it would be building a new $100 million world headquarters in Cleveland’s suburb of Westlake, Ohio. And while retaining this Fortune 500 company in the region is good news to most, it certainly was bad news to Cleveland’s suburb of Brooklyn, the long-time home to the company and its 1,750 workers. But no where is the ‘good news/bad news’ story more compelling than in the central business district or CBD. First, the good news. Cleveland is undergoing a massive construction boom, the largest since the late 1980s/early 1990s. Over $1 billion of new development is currently under way in the CBD alone, spearheaded by three primary projects. The first is the long-anticipated Medical Mart and associated convention center. This $465 million complex will include a four-story permanent showplace for medical equipment and technology, connected to a 230,000-square-foot convention center, which is anticipated to be completed in 2013. The $465 million Medical Mart and adjacent convention center is expected to be complete in 2013. The second is the Horsehoe Casino, initially converting 300,000 square feet in …