CLEVELAND– Cleveland-based Luttner Real Estate Investment Services has arranged the sale of two freestanding Sherwin-Williams stores, located in the Midwest, for approximately $1.5 million and $1.4 million. Mark Luttner of Luttner Real Estate Investment Services represented the seller, WXZ Development Group. Luttner also procured the buyer, a private investment group.
STREETSBORO, OHIO — Luttner Real Estate Investment Services has arranged the $19.6 million sale of a 368,060-square-foot distribution center, located in Streetsboro. The property is fully leased to Best Buy. Mark Luttner of Luttner Real Estate represented the seller, Ohio-based GEIS Cos., in the transaction. The buyer was a New Jersey based public REIT.
NAPERVILLE, ILL. — JBS Logistics has signed a 303,800-square-foot lease at Building 3 of Prairie Pointe Corporate Center, located at 2043 Corporate Ln. in Naperville. Jeff Fischer of NAI Hiffman represented the tenant in the lease transaction. Rick Daly and Cory Ramey of Darwin Realty represented the landlord, IDI and TIAA.
WEST ALLIS, WIS. — Winter Services has purchased a 33,400-square-foot industrial building, located at West Allis, from Rose Investments. Maximilian Yokosh and Kenneth Braden of Milwaukee-based Cassidy Turley Barry represented the seller in the transaction. Adam Matson of NAI — MLG Commercial represented the buyer.
CONNERSVILLE, IND. — Carbon Motors Corp. has commenced refurbishing the Carbon Campus facility in Connersville. Shook Construction has been selected to lead construction efforts, and Moody Nolan has designed the renovation.
CHICAGO — NorthMarq Capital has arranged $8.3 million in first mortgage financing for an eight-story office building, located at 626 W. Jackson in Chicago. Jeff Cherner and Rup Patel of NorthMarq's Chicago office arranged the financing with a 5-year term and a 25-year amortization schedule through First Merit Bank on behalf of the borrower, an affiliate of Chicago-based Sterling Bay Cos. The property is currently 100 percent leased.
AVON, OHIO — The Richard E. Jacobs Group has sold a retail location leased to AutoZone in Avon for $1.02 million. Mark Luttner of Luttner Real Estate Investment Services represented the seller in the transaction.
TRAVERSE CITY, MICH. — San Diego, Calif.-based Trigild has been selected as the asset manager for the 590,000-square-foot The Grand Traverse Mall, an enclosed mall in Traverse City. The firm's responsibilities include leasing space to tenants and planning a disposition strategy for a profitable sale. Trigild has selected Dallas-based Trademark Properties as the mall's property management firm. The enclosed mall is occupied by national tenants such as Macy's, JC Penney, Target and TJ Maxx.
STREETSBORO, OHIO — Monmouth Real Estate Investment Corp. has acquired a 368,060-square-foot industrial building, located in the Interstate Commerce Center Industrial Park in Streetsboro, for $19.6 million. The property is net-leased through August 2021 to Best Buy Warehousing Logistics.
CLEVELAND — Grubb & Ellis has negotiated the $1.7 million sale of a 198,000-square-foot industrial property Unit No. 2, located at 777 Lena Dr. in Cleveland. The property is part of the former Lucas Aerospace Building. Terry Coyne of Grubb & Ellis' Cleveland office represented the seller, PB IL OREO, in the transaction. The buyer was Lena Commerce.