KANSAS CITY, MO. — The Weitz Company, serving as general contractor, has completed the first phase of a multi-phase renovation for Two Rivers Behavioral Health Systems, a 105-bed treatment facility in Kansas City. The 49,000-square-foot renovation includes new flooring, millwork, lighting, painting and refinishing. The final phases are scheduled for completion in November. Boca Raton, Fla.-based In-Design provided architectural and design services for the project.
Midwest
PLEASANT PRAIRIE, WIS. — Rolfs Baking Co. has acquired a 56,642-square-foot industrial manufacturing building, which is located at 10100 88th Ave. within LakeView Corporate Park East in Pleasant Prairie. Built in 1995, the property features men’s and women’s locker rooms, buss ducts and air-lines throughout, and 12,730 square feet of office space. The acquisition was not released, but the property’s asking price was $3.7 million. Theresa Gleason of Paine/Wetzel represented the buyer; Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented the seller, IFA III 88th Avenue LLC, in the transaction.
DUBLIN, OHIO — Cleveland-based Cooper Commercial Investment Group has completed the disposition of Tuttle Crossing, a retail plaza located at 6079 Park Center Circle in Dublin. The 6,145-square-foot property is anchored by Chipotle Mexican Grill, Sprint PCS and GameStop. The fully occupied plaza sold for $2.52 million or $411 per square foot. Additionally, assumable, non-recourse, fully amortizing financing was in place on the property with approximately 9 years remaining at a 5.69 percent interest rate. Dan Cooper of Cooper Commercial represented the Kentucky-based sellers. The property was purchase by a private Ohio-based buyer.
INDIANAPOLIS — Kandu Capital, along with its operating company Bloomfield Senior Living, has purchased two senior-living communities in Indianapolis. The assets include the 56-unit Autumn Glen Assisted Living Community and the 55-unit Autumn Park Assisted Living Community. At the time of acquisition, the 34,000-square-foot Autumn Glen was 99 percent occupied and the 35,000-square-foot Autumn Park was 90 percent occupied. Sunwest Management previously owned the properties. Kandu acquired the properties through a complex bankruptcy 363-sale. Terms of the transaction were not released.
MISSION, KAN. — A local private equity group has acquired Lamar Place Apartments in Mission for $3.55 million. Constructed in 1971, the multifamily property offers 108 garden-style units. The asset traded at a 7.5 percent cap rate. Jeff Stingley of CB Richard Ellis’ Multi-Housing Group represented the undisclosed seller in the transaction.
ARLINGTON, MINN. — Plymouth, Minn.-based Dominium Development & Acquisition has completed the disposition of Highland Commons in Arlington. The Project-Based Section 8 multifamily complex consists of eight townhome units and a 33-unit senior-housing facility. A Wisconsin-based private developer purchased the property for an undisclosed price. Julie Lux of Cassidy Turley represented the seller in the transaction.
BANNOCKBURN, ILL. — LOGS, a network of law firms and title agencies that specialize in handling foreclosure litigation for lenders, has leased 50,000 square feet of office space at 2121 Waukegan Road in Bannockburn. LOGS occupies the second and third floors of the 103,500-square-foot Class A property, which was formerly occupied by Kraft. The organization is relocating from 4201 Lake Cook Road in Northbrook, Ill. Kevin McLennan of Studley represented the tenant; Steve King and Chris Cummins of Colliers International represented the landlord, Colony Realty Partners. Terms of the lease were not released.
GRANDVILLE, MICH. — First Hospitality Group has re-opened Residence Inn Grand Rapids West in Grandville. Located at 3451 Rivertown Point Court SW, the three-story, 90-room hotel recently underwent a $3 million renovation. The hotel now features contemporary guest suites with new carpet, beds, vanities, sofas, tables, wall coverings, dining tables, lighting and stainless steel appliances. Hotel amenities include an outdoor swimming pool and sports court that features a fire pit and built-in gas grill, a business center and an expanded complimentary breakfast and dining area.
HARTLAND, WIS. — Dallas-based P. O’B Montgomery & Co. has acquired Cottonwood Plaza Shopping Center in Hartland. Anchored by Piggly Wiggly and Fox Brothers, the 54,693-square-foot retail center is located at 505-517 Cottonwood Avenue. Nick Tortorice of P. O’B Montgomery was the company’s key individual in the acquisition. Financing for the transaction was provided by Protective Life Corp. Additional terms of the transaction were not disclosed.
AURORA, ILL. — Garden Ridge, a décor superstore, is opening a new location at 956 Route 9, the former Expo Design Center, in Aurora. Situated on approximately 3 acres, the 190,000-square-foot store will offer home décor and seasonal décor, including furniture, framed art, mirrors, silk floral, greenery and bedding. Once opened in September, the store is expected to employ approximately 30 full- and part-time workers.