EARTH CITY, MO. — NorthMarq Capital has arranged a $5.11 million loan for 13400 Lakefront, a 232,000-square-foot industrial building in Earth City. The financing was based on a 15-year term with a 15-year amortization schedule. Northmarq's David Garfinkel arranged the loan through the company's correspondent relationship with Aetna.
BROOKLYN PARK, MINN. — Hotel Asset Value Enhancement and an institutional investment fund, which is managed by Fidelity Real Estate Group, have purchased The Northland Inn Brooklyn Park, a 231-room hotel in Brooklyn Park. The all-suite hotel features an eight-story atrium and 33,000 square feet of dedicated conference space. Jones Lang LaSalle Hotels was retained by a special servicer, Helios AMC, as the exclusive and sole agent in the disposition of the property.
NEW BALTIMORE, MICH. — Titanium Processing Center has acquired a 22,920-square-foot industrial property in New Baltimore. The buyer plans to expand its operations to the facility, which is located at 51513 Industrial. Titanium Processing Center specializes in domestic titanium alloy that complies with the Department of Defense, military, medical, racing and aerospace industries. Joe DePonio and Jason Capitani of L. Mason Capitani CORFAC International represented the buyer in the transaction. The seller and acquisition price were not released.
BLOOMFIELD HILLS, MICH. — Southfield, Mich.-based Bernard Financial Group has arranged a $13 million CMBS loan for Bloomfield Centre in Bloomfield Hills. The three-story building offers 137,879 square feet of office space. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Bloomfield Centre LLC. The lender was Citigroup Global Markets Realty Corp., a correspondent of Bernard Financial Group.
SOUTHFIELD, TROY, DETROIT AND FARMINGTON HILLS, MICH. — Tjader Gerdom of Wixom, Mich.-based Gerdom Realty & Investment has secured locations for four new Advance Auto Parts retail stores in metro Detroit. The lease transactions include a freestanding, 6,200-square-foot build-to-suit at Eight Mile Road and Evergreen Avenue in Southfield; a 6,600-square-foot lease of a former Hollywood Video at 16th Mile and Dequindre roads in Troy; a 6,200-square-foot location, developed by A.F. Jonna, at Eight Mile Road and Schaefer Highway in Detroit; and a 7,600-square-foot location, which was redeveloped by Ari-E Enterprises, on Orchard Lane Road in Farmington Hills. In the Southfield transaction, B. Richardson of Armada Real Estate represented the landlord, and in the Troy transaction, A. Arcori and V. Gjonaj of Signature Associates represented the landlord.
MT. PLEASANT, ILL. — Naples, Italy-based SEDA International Packaging Group S.p.A. has selected to open its North American manufacturing operations at Park 94 at Mt. Pleasant, an 84-acre business park developed by HSA Commercial. SEDA plans to occupy Building 1, a 323,610-square-foot LEED Silver-certified warehouse and manufacturing facility located at 12501 Globe Dr. The facility, which is expandable to 664,610 square feet, offers 30-foot clear-height ceilings, 40 docks, four drive-in doors and a 151-car and 80-trailer expandable parking area. The company is expected to make a $76 million investment in local operations and create approximately 200 jobs. James Babiasz and Patrick Dedering of The Boerke Company represented SEDA; David Bercu, David Liebman and Brendan Green of Colliers International represented the developer/owner, HSA Commercial Real Estate, in the transaction.
DEERFIELD, ILL. — CBRE Realty Trust has acquired Ten Parkway North, a Class A office building located in Deerfield. The 99,566-square-foot property is fully leased to Markel Midwest Inc. Paul Lundstedt, Jeff Shell and John Gavin of Grubb & Ellis represented the seller, The John Buck Company, in the transaction. Terms of the sale were not released.
MELROSE PARK, ILL. — Meridian Design Build has completed a facility expansion for Kerry Ingredients & Flavours. The new 84,000-square-foot facility is located at 3141 W. North Ave. in Melrose Park. The design redevelopment project included the demolition of an outdated two-story, 100,000-square-foot facility. The facility includes five truck docks, silo pads, and a material unloading area with security initiatives, including card readers, security cameras, fencing and motor-operated sliding gates. Harris Architects provided architectural services for the project, while Jacob & Hefner Associates served as civil engineer.
INDIANAPOLIS — North Carolina-based Greystone Bank has completed the disposition of Presidential Estates Apartments, a 255-unit multifamily property located in Indianapolis. Greenwood, Ind.-based EMK Property Investors acquired the property, which was listed for $6.75 million, for an undisclosed price. Tikijian Associates represented the buyer and the seller in the transaction.
ROCHESTER, MINN. — Daniel Trebil of NorthMarq Capital's Minneapolis Regional office has arranged a $17.2 million first mortgage loan for Bouquet Apartment Portfolio. The 392-unit portfolio is comprised of four multifamily properties located in Rochester. Financing was provided by PPM Finance.