ROCK HILL, MO. — ARCO Construction Co. is advancing construction for its new $3.9 million headquarters. The new office will be a two-story, 27,300-square-foot building located at 900 N. Rock Hill Road in Rock Hill. The company will relocate to the larger space from its previous headquarters at 1750 South Brentwood in Brentwood, Mo. GMA Design is serving as project architect. In addition to its headquarters, ARCO maintains offices in St. Louis; Kansas City, Kan.; Chicago; Cincinnati; Philadelphia: Atlanta; and Tampa, Fla.
CHICAGO — Essex Realty Group has brokered the sale of a six-property Chicago apartment portfolio for $3.3 million. The buildings contain a total of 249 units. They are located at 6656-58 South Sacramento, 8054 South Ingleside, 8061 South Cottage Grove, 6600-34 South Stewart, 7121 South Harvard and 7922 South Muskegon. Doug Imber of Essex represented the seller, and Matt Welke and Doug Fisher, also of Essex, represented the buyer. Both parties were undisclosed.
CHICAGO — The Boulder Group has completed the sale of a 16,290-square-foot Save-A-Lot located at the intersection of 63rd Street and South Calumet Avenue in Chicago for $2.29 million. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a local developer. The buyer was a New Jersey-based high net-worth investor.
BISMARCK, N.D. — TNP Strategic Retail Trust has acquired Pinehurst Square East, a 114,292-square-foot retail center located in Bismarck. Constructed in 2005, the center is anchored by T.J. Maxx, Old Navy and Shoe Carnival. Occupancy was more than 90 percent at the time of closing, and the tenant leases have staggered expirations through 2017. The seller was a tenant-in-common investor group, which maintains an ownership interest in the property. The acquisition price was not disclosed.
CHICAGO — Marcus & Millichap's Chicago Downtown office has completed the sale of a multifamily building located at 2149 W. Division St. in Chicago. The building contains five apartments and one ground-floor retail space. It traded between two undisclosed limited liability companies for $884,750. The Marcus & Millichap team of Nicholas Kanich and Kyle Stengle represented both parties in the deal.
MINNEAPOLIS — Opus Development Corp. has commenced construction for a new off-campus student housing community in Minneapolis. Stadium Village Flats will be constructed in the Stadium Village area near the University of Minnesota's East Bank campus. The six-story building will feature 235 beds of housing in 120 units. Amenities will include a movie room, a fitness center, study areas, a gaming room and a lounge. The ground floor of the building will contain a CVS/pharmacy as well as 4,400 square feet of service retail space. Completion is expected in fall 2012. ESG Architects will serve as design architect. Asset Campus Housing will lease the community and manage it upon completion.
NEW BERLIN, WIS. — N3 Development has acquired a 45,738-square-foot commercial property located at 4901 S. Moorland Road in New Berlin. Tony Colvin and Dan Cohen of Mid-America Real Estate – Wisconsin represented the buyer in the deal. The sellers were Andrew and Nancy Sciano. The acquisition price was not disclosed.
WEST BEND, WIS. — Dimension Tool & Machining has acquired a 9,000-square-foot industrial property located at 950 Eastern Ave. in West Bend. Dimension plans to relocate to the building, formerly occupied by WenCo, from its existing facility in Grafton, Wis. James Young of Milwaukee-based Cassidy Turley Barry represented Dimension as well as the seller, Robert Wenzlaff. The acquisition price was not disclosed.
FOX LAKE, ILL. — Dollar Tree has opened a new 9,000-square-foot location within Fox Lake Crossing, located at the intersection of State Routes 59 and 134 in Fox Lake. Jeff Wright of Kite Realty Group represented the landlord, KRG Fox Lake Crossing LLC, in lease negotiations. Kyle Mayberry of Zifkin Realty Group represented Dollar Tree.
SOUTH HOLLAND, ILL. — Universal Metal Hose, Inc. has purchased an 84,000-square-foot industrial building located at 1711 S. Wallace Ave. in South Holland. The buyer plans to consolidate operations from three existing Chicago locations into the new building. The property features 21.5-foot clear ceilings, 11 docks and 5,500 square feet of office space. Daniel Fanelli of Darwin Realty & Development Corp. represented the buyer. Grant Glattly and Pete Roberson of CB Richard Ellis represented the seller, Alliance Commercial Partners. The acquisition price was not released.