BRIDGETON, MO. — New York-based Lightstone Value Plus Real Estate Investment Trust has purchased The Plaza at DePaul, a 193,543-square-foot retail center in Bridgeton. for $19.8 million. Located at the intersection of St. Charles Rock Road and McKelvey Road, the property is anchored by a recently remodeled Kohl's department store. The seller was DePaul 2002 LLC, an affiliate of St. Louis-based The Love Cos. Lightstone was self-represented in the transaction.
AUSTIN, TEXAS — Austin-based AIC Ventures has acquired two industrial buildings from Northern Stamping Inc. for an undisclosed amount. The buildings include an 85,000-square-foot facility in Valley View, Ohio and a 160,000-square-foot facility in Cuyahoga Heights, Ohio. Concurrent with the purchase, AIC Ventures entered a long-term lease with Northern Stamping, a manufacturer of structural components and welded assemblies for the global automotive market. Greg West of Colliers International represented both parties in the transaction.
PEORIA, ILL. — The Boulder Group has completed the $1.1 million sale of a single-tenant, net leased building occupied by Starbucks, located at 4820 N. University St. in Peoria. The 1,928-square-foot building was developed in 2005 on an outparcel to a Schnuck's grocery store. Randy Blankstein and Jimmy Goodman of The Boulder Group's Northbrook, Ill. office represented the seller, a partnership based in Arizona. The buyer was a private individual investor from Los Angeles.
FAIRFIELD, OHIO — The Connor Group, a Centerville-based real estate investment firm, has sold Timber Hollow Apartments in Fairfield for $23.5 million to Timber Hollow SPE LLC. The deal came five years after The Connor Group purchased the 368-unit community.
ST. CLAIRESVILLE, OHIO —Indianapolis-based appliance and electronics store hhgregg has opened a new store in St. Clairesville, Ohio. The 27,051-square-foot store was newly renovated and is located at 67661 Mall Rd. in St. Clairsville. The store previously housed a TJ Maxx and a Kroger grocery store.
PEWAUKEE, WIS. — Pentair Residential Filtration, which provides water solutions and technical products, has leased 23,750 square feet of flex space in the Pewaukee Commerce Center II, located at N25W23040 Paul Road in Pewaukee. Jim Larkin and Tom Shephard in the Milwaukee office of Inland Cos. represented landlord the transaction.
LAKE ZURICH, ILL. — CB Richard Ellis has arranged the $1.89 million sale of a 57,541-square-foot warehouse, located at 340 E. Route 22 in Lake Zurich. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CBRE's Bannockburn, Ill. office represented the seller, Kavo Dental Technologies, in the transaction. The buyer was Morgan Bronze Products.
LIBERTYVILLE, ILL. — Laser Precision, a company that uses laser technology for fabrication, has leased 30,345 square feet of warehouse space at 1400 Harris Rd. in Libertyville. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented both the landlord, McShane Liberty Point, and the tenant in the transaction.
KANSAS CITY, KAN. — Logan's Roadhouse has broken ground on 1.4 acres of land at Plaza at the Speedway in Kansas City. The new restaurant will be located just west of Chick-fil-A and is scheduled to open in the summer of 2012. David Block and Becky Goodman of Block & Co. Inc.'s Kansas City office, along with Christian Ablah of Classic Real Estate, represented the seller, Plaza Speedway. Jeff Berg of Lane 4 Group represented the buyer, Speedway LR.
MT. HEALTHY, OHIO — Red Capital Markets, the investment banking arm of Red Capital Group, has deployed a $6 million bond for The Reserve on South Martin, a 60-unit affordable housing development being built in Mt. Healthy, Ohio. Related entity Red Capital Partners has a commitment to purchase the entire $6 million bond issue on a draw-down basis as required by the demands of the construction schedule. The project sponsor is Cincinnati Metropolitan Housing Authority, who is serving as the developer, general partner and management for the community. The construction phase is expected to be complete in the fall of 2012.