GAYLORD, MICH. — The 189,000-square-foot Pine Ridge Square in Gaylord has been purchased by Birmingham, Mich.-based Robert B. Aikens & Associates. Major tenants include Big Lot's, Dunham's, Bath & Body Works, GNC, Maurice's, Hobby Lobby and Payless Shoe Source.
LAFAYETTE, IND. — Marcus & Millichap has arranged the $2.35 million sale of the 32-unit Armory Loft Student Housing Apartments and the 3-unit Griffith Triplex, both located in Lafayette. Scott Harris of the firm's Oak Brook, Ill., office and Colin Atkinson of the firm's Indianapolis office represented the seller, a private investor. Harris procured the buyer, a limited liability company.
ELKHART, IND. — Feed the Children has purchased a 65,072-square-foot distribution building, located at 22365 Elkhart East Blvd. in Elkhart. The building is the former Burnstine distribution center. FM Stone Commercial represented the seller.
KANSAS CITY, MISSOURI — Key Construction has started construction on three new hotels in Kansas City. The hotels include the 43-room Ambassador Hotel KC, the 123-room Courtyard at Briarcliff and the 109-room Holiday Inn Express & Suites. All projects are slated for completion in July 2012.
CHICAGO — Ed Graf and Ted Sannella of White Plains, N.Y.-based Houlihan-Parnes Realtors have brokered the $5.41 million sale of a portfolio of non-performing loans secured by 21 properties in Chicago. The sale price represented 52.5 percent of the loans' face value. The buyer and seller were undisclosed.
WESTMONT, ILL. — Marcus & Millichap has arranged the $1.77 million sale of a 23-unit apartment complex, located at 110 North Cass Avenue Apartments in Westmont. Ryan Engle and Andrean Angelov of the firm's Oak Brook, Ill., office represented the seller, a private investor, and procured the buyer.
WEST DES MOINES, IOWA — West Des Moines-based CB Richard Ellis | Hubbell Commercial has brokered the $4.7 million sale of the 53,500-square-foot Bridgewood Plaza, a three-building retail center located at 165 S. Jordan Creek Pkwy. in West Des Moines. Linda Gibbs and Timothy Sharpe of CBRE | Hubbell represented the seller and procured the buyer, NDF III Bridgewood Plaza.
MANITOWOC, WIS. — Milwaukee-based Ogden & Co. has arranged the $1.97 million sale of the 44-unit Forest Creek Apartments, located at 2210-2230 S. 42nd St. in Manitowoc. Gordon Steimle and Susan Sardina of Ogden & Co. represented the seller in the transaction.
YOUNGSTOWN, OHIO — Bottom Dollar Food, which has 47 stores nationwide, has planned to open three new stores in Youngstown in early 2012. The stores will be located at 2504 Glenwood Ave., 903 E. Midlothian Blvd., and 3377 Mahoning Ave. Additionally, the retailer will open 11 stores in Pennsylvania.
SAUK VILLAGE, ILL. — Grubb & Ellis' Chicago-based Sale-Leaseback/Net Lease Properties Group has arranged two industrial sale-leasebacks in Sauk Village on behalf of Cream Ridge, N.J.-based SIGMA International Group. The buildings, which total 73,025 square feet, are located at 21699 Torrence Ave. and 2701 Kalvelage Dr. SIGMA will continue to occupy the buildings under a long-term lease. Jonathan Wolfe and Jordan Shtulman of Grubb & Ellis represented SIGMA in the negotiations.