FENTON, MICH. — Birmingham-based Dietz Property Group has purchased Fairfield Condominiums, a 124-unit broken condominium project located off Silver Parkway in Fenton, Mich. for approximately $3 million. The seller was Flagstar Bank, which took control of the property in 2010. The property was 100 percent occupied upon acquisition. Dietz plans to convert four of the seven buildings into apartments.
TERRE HAUTE, IND. — Marcus & Millichap has brokered the sale of a 2,364-square-foot Taco Bell in Terre Haute, Ind. for approximately $2 million. Nathan Whalen with the Indianapolis office of Marcus & Millichap represented the buyer, Taco Properties Inc. The buyer, Amelia Chan Yee, an individual trust, was represented by Adam Levin of Marcus & Millichap's Palo Alto, Calif. office.
INDIANAPOLIS —Marcus & Millichap Real Estate Investment Services has closed the sale of a three-property senior housing portfolio for $52 million. The properties include the 122-unit Forest Creek Commons in Indianapolis, the 114-unit North Woods Commons in Kokomo, Ind. and the 154-unit Covington Commons in Fort Wayne, Ind. Mark Myers of Marcus & Millichap's Chicago office and Chris Hyldahl of the firm's Los Angeles office represented the seller, BAI of Indiana. They also represented the buyer, Newton, Mass.-based Five Star Quality Inc.
ROME CITY, IND. — Fort Wayne, Ind.-based Momentum Properties LLC has acquired a 32,000 square foot Pent. Inc. building, located at 103 Warrener Dr. in Rome City, Ind. for an undisclosed amount. Alex Genova of CBRE represented the seller, Garrett-Ind.-based Group Dekko, Inc. Genova also represented the buyer. Future use of the building will be for a new medical manufacturer.
CHICAGO — Phillips Electronics, a health and well-being company, has signed a long-term lease renewal for 73,753-square-feet in O'Hare International Center I, a Class A office complex, located at 10275 W. Higgins Rd. in Chicago, Ill. Greg Raus, Molly Carroll, Jen Wrinkle and Rick Fahey of Chicago, Ill.-based Jones Lang LaSalle represented Philips Electronics in the transaction. Josh Robbins represented the building manager, Indianapolis-based Duke Realty.
MILWAUKEE, WIS. — Milwaukee-based Athea purchased a 245,000-square-foot industrial facility, located at 1900 W. Cornell St. in Milwaukee, for an undisclosed amount. Milwaukee-based Cassidy Turley Barry represented both sides of the transaction. David Barry and Kurt Van Dyke represented the seller, Norcross, Ga.-based Rock Tenn, and James Young represented Athea.
STREETSBORO, OHIO — Wendy's Co. will open a new restaurant at 4931 N. Oak Traffic Way in the North Oak Village Shopping Center in Kansas City, Mo. Located at the intersection of North Oak and Vivion roads, the 3,000-square-foot restaurant will open to the public Oct. 15.
COLUMBUS, OHIO — Boston-based Stag Industrial Inc. has acquired a 380,000-square-foot warehouse and distribution facility located near Columbus, Ohio for $7.8 million. The facility is fully leased to Ridgeland, Mo.-based Arrow-Intechra LLC with more than six years remaining on the lease.
EAST LANSING, MICH. — Walker & Dunlop LLC has arranged the financing for a 220-unit student housing development in East Lansing, Mich. An additional student housing development will be located in Louisiana. Will Baker of Walker & Dunlop arranged the financing, while Kayne Anderson Real Estate Advisers originated the loan. The loan has a 10-year term with one-year interest and a 30-year amortization schedule.
WITCHITA, KAN. — Sarasota-Fla.-based LUX Building, LLC has purchased Protection One, a seven-story office building, located in downtown Witchita, Kan., for an undisclosed amount. LUX Building plans to maintain the building's original character, and architectural features will be maintained and repurposed through a modern design.