WEST DES MOINES, IOWA — West Des Moines-based CB Richard Ellis | Hubbell Commercial has brokered the $4.7 million sale of the 53,500-square-foot Bridgewood Plaza, a three-building retail center located at 165 S. Jordan Creek Pkwy. in West Des Moines. Linda Gibbs and Timothy Sharpe of CBRE | Hubbell represented the seller and procured the buyer, NDF III Bridgewood Plaza.
MANITOWOC, WIS. — Milwaukee-based Ogden & Co. has arranged the $1.97 million sale of the 44-unit Forest Creek Apartments, located at 2210-2230 S. 42nd St. in Manitowoc. Gordon Steimle and Susan Sardina of Ogden & Co. represented the seller in the transaction.
YOUNGSTOWN, OHIO — Bottom Dollar Food, which has 47 stores nationwide, has planned to open three new stores in Youngstown in early 2012. The stores will be located at 2504 Glenwood Ave., 903 E. Midlothian Blvd., and 3377 Mahoning Ave. Additionally, the retailer will open 11 stores in Pennsylvania.
SAUK VILLAGE, ILL. — Grubb & Ellis' Chicago-based Sale-Leaseback/Net Lease Properties Group has arranged two industrial sale-leasebacks in Sauk Village on behalf of Cream Ridge, N.J.-based SIGMA International Group. The buildings, which total 73,025 square feet, are located at 21699 Torrence Ave. and 2701 Kalvelage Dr. SIGMA will continue to occupy the buildings under a long-term lease. Jonathan Wolfe and Jordan Shtulman of Grubb & Ellis represented SIGMA in the negotiations.
KANSAS CITY, KAN. — An undisclosed buyer has acquired the 2,200-square-foot Jaywalkers Sports Bar & Grill, located at 39th Street and Rainbow Boulevard across from the Kansas University Medical Center in Kansas City, which it plans to redevelop into a mixed-use project. David Block of Kansas City, Mo.-based Block & Co. represented Rainbow Texas Tom, the seller, in the transaction.
It’s no secret that Cincinnati has a beautiful landscape, a world-class arts and culture scene, and a rich history, but it is little known for its vibrant business community. Cincinnati is truly located in the “heart of it all” and many people are indeed surprised by the economic influence that exudes from this market. Cincinnati is the 24th largest U.S. metro area with a population of just over 2 million. Cincinnati is home to ten Fortune 500 company headquarters, and, per capita, that places the city higher than New York, Boston, Chicago, or Los Angeles. Kroger Company, Procter & Gamble and Macy's Inc. are all headquartered in the city and it has recently been chosen as the North American headquarters for First Group and dunnhumby, both of which have tapped into the local labor pool. With the strength of the city’s business community, Cincinnati’s office market has been relatively stable over the last 15 years, with overall vacancy rates hovering around 15 percent. Unfortunately, it has not been immune to the economic woes of the last several years and many companies have made cuts or downsized. The Cincinnati office market is approximately 37 million square feet and around 13 million …
WEBSTER GROVES, MO. — ARCO Construction Co. has been selected to build the $18 million, 80-unit Provision Living at Webster Groves, a senior housing project located at 45 E. Lockwood in Webster Groves. On-site amenities will include medical, rehabilitation, wellness and retail space. Completion is slated for summer 2012.
LAKEVILLE AND CHAMPLIN, MINN. — NorthMarq Capital's Minneapolis office has represented landowners in Lakeville and Champlin in transactions with Goodwill Industries. In Lakeville, Jen Helm and Ronn Thomas represented Stonehenge USA in a build-to-suit lease with Goodwill. Stonehenge will build a 20,600-square-foot store for Goodwill at the intersection of Kendrick Avenue and Kenwood Trail. Laura Moore of Adam Commercial Real Estate represented Goodwill. In Champlin, Tricia Pitchford represented CMK Champlin Holdings in the sale of 2.5 acres just north of the intersection of Highway 169 and 117th Avenue North, where Goodwill plans to start construction later this year on its first Champlin store. George Bestrom represented Goodwill in the sale.
CHICAGO — Chicago-based Essex Realty Group has arranged the $2.15 million sale of the 38-unit Columbia Gardens, a condominium conversion project located at 1615-25 W. Columbia in Chicago. Seven of the units had been sold and the remaining 31 units were sold in bulk in this deal. Jim Darrow and Jordan Gottlieb of Essex were the sole brokers in the transaction.
HUBER HEIGHTS, OHIO — EnTrust Realty Advisors has negotiated the sale of the 49,453-square-foot Good Samaritan Health Center, a medical office building in Huber Heights. The two-story building is 80 percent leased and is anchored by Good Samaritan Hospital, which leases half of the space. EnTrust represented the seller, The Alter Group. The buyer is a joint venture established by Columbus, Ohio-based Equity, Inc.
