WEST BEND, WIS. — Lighthouse Acquisitions Group has purchased a 7.68-acre land parcel near the northwest corner of Continental Drive and Corporate Center Drive within the West Bend Corporate Center in West Bend. Beverly West Bend Acquisition LLC sold the property for an undisclosed price. Lighthouse is planning to construct a 150-unit senior-living facility on the site. The $20 million development, which will include a memory care unit as well as independent and assisted living facilities, will be operated by Edina, Minn.-based New Perspective Senior Living. David Buckley of Cassidy Turley Barry brokered the transaction. Terms of the deal were not released.
Midwest
WEST BEND, WIS. — Koness Properties LLC has acquired a 105,024-square-foot industrial property in West Bend. Milliken Enterprises-Wisconsin LLC sold the property, which is located at 529 N. River Rd., for an undisclosed price. Brian Parrish of The Dickman Company Inc./CORFAC International represented the buyer; Kevin Barry and David Buckley of Cassidy Turley Barry represented the seller in the transaction.
BLOOMFIELD HILLS, MICH. — Tel Square LLC has acquired 81,937 square feet of office space at Bloomfield Professional Center and Bloomfield Office Pavilion, which are located at 2520 and 2550 S. Telegraph Road in Bloomfield Hills. LBUBS 2005-C2 Bloomfield Hills LLC sold the property for an undisclosed price. Mitchell Lipton and Barry Swatsenbarg of Friedman Real Estate Group represented the seller in the transaction.
O’FALLON, ILL. — Swansea, Ill.-based Holland Construction Services is constructing a new building for the first phase of an expansion project for New Life in Christ Interdenominational Church in O’Fallon. The $3 million, 8,500-square-foot pre-engineered building will be located at 689 Scott Troy Road. The building will have a standing seam roof, stained concrete floors, an exposed steel ceiling with several skylights and an exterior reflecting pool with two fountains. The second phase of the planned expansion includes a 17,645-square-foot auditorium and sanctuary that will accommodate approximately 1,000 seats.
SCHAUMBURG, ILL. — AJK LLC has purchased a retail property at 680 Mall Drive in Schaumburg for $1.15 million. The buyer plans to open a to-be-named American cuisine restaurant at the 7,200-square-foot property. Dan Steinberg of Titan Commercial represented the buyer; Cushman & Wakefield represented the seller, Darden Restaurants, in the transaction. The property was previously a Smokey Bones Bar and Fire Grill location.
WIXOM, MICH. — Hallite Seals America has signed a lease for a 73,000-square-foot facility in Wixom. Located at 50777 Varsity Court, the property will be used as a manufacturing and distribution facility to support Hallite Seals’ North American market. Hallite Seals is a manufacturer and provider of hydraulic seals and sealing solutions to the global fluid power industry. Garry Rogers of L. Mason Capitani represented the tenant and the undisclosed landlord in the transaction. Terms of the lease were not disclosed.
NAPERVILLE, ILL. — Farbman Acquisitions LLC has purchased The Atrium, an office building located at 280 Sherman Blvd. in Naperville. The two-story building offers 69,077 square feet of office space. A subsidiary of Prime Group Realty Trust sold the property for $3.6 million. Jaime Fink, Jeffrey Bramson and Kenneth Glomb of Holliday Fenoglio Fowler represented the seller in the transaction.
CHICAGO — Martinez Seafood and Produce has acquired a 23,980-square-foot industrial building, which is located at 340 N. Sacramento in Chicago. The buyer has selected Summit Design Build to complete an extensive build-out of the property to convert it into a food-grade, freezer/cooler facility. Construction completion is scheduled for 2011. Frank Fernandez of Chicago Brokers represented the buyer; Michael Nelson and Mark Nelson of Paine/Wetzel•ONCOR International represented the seller, John Cocomise, in the transaction. The building sold for $784,000.
APPLE VALLEY, MINN. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has funded a $1.85 million loan for Grand Manor Apartments in Apple Valley. The property offers 36 multifamily units. The loan, which was under the Fannie Mae DUS Small Loan product line, has a 10-year term and a 30-year amortization schedule. Patrick McNulty of Arbor’s Chicago office originated the financing on behalf of the undisclosed borrower.
ST. LOUIS — Harris-Stowe State University has selected Kwame Building Group as program manager for its $15 million on-campus residence hall. The 70,000-square-foot residence hall will offer housing for 200 students as well as the campus’ new dining hall. The environmentally friendly facility is being funded through the U.S. Department of Education’s Historically Black College University Capital Financing Program. Grice Group Architects and Trivers Associates are providing architectural services for the project.