KANSAS CITY, KAN. — An undisclosed buyer has acquired the 2,200-square-foot Jaywalkers Sports Bar & Grill, located at 39th Street and Rainbow Boulevard across from the Kansas University Medical Center in Kansas City, which it plans to redevelop into a mixed-use project. David Block of Kansas City, Mo.-based Block & Co. represented Rainbow Texas Tom, the seller, in the transaction.
It’s no secret that Cincinnati has a beautiful landscape, a world-class arts and culture scene, and a rich history, but it is little known for its vibrant business community. Cincinnati is truly located in the “heart of it all” and many people are indeed surprised by the economic influence that exudes from this market. Cincinnati is the 24th largest U.S. metro area with a population of just over 2 million. Cincinnati is home to ten Fortune 500 company headquarters, and, per capita, that places the city higher than New York, Boston, Chicago, or Los Angeles. Kroger Company, Procter & Gamble and Macy's Inc. are all headquartered in the city and it has recently been chosen as the North American headquarters for First Group and dunnhumby, both of which have tapped into the local labor pool. With the strength of the city’s business community, Cincinnati’s office market has been relatively stable over the last 15 years, with overall vacancy rates hovering around 15 percent. Unfortunately, it has not been immune to the economic woes of the last several years and many companies have made cuts or downsized. The Cincinnati office market is approximately 37 million square feet and around 13 million …
WEBSTER GROVES, MO. — ARCO Construction Co. has been selected to build the $18 million, 80-unit Provision Living at Webster Groves, a senior housing project located at 45 E. Lockwood in Webster Groves. On-site amenities will include medical, rehabilitation, wellness and retail space. Completion is slated for summer 2012.
LAKEVILLE AND CHAMPLIN, MINN. — NorthMarq Capital's Minneapolis office has represented landowners in Lakeville and Champlin in transactions with Goodwill Industries. In Lakeville, Jen Helm and Ronn Thomas represented Stonehenge USA in a build-to-suit lease with Goodwill. Stonehenge will build a 20,600-square-foot store for Goodwill at the intersection of Kendrick Avenue and Kenwood Trail. Laura Moore of Adam Commercial Real Estate represented Goodwill. In Champlin, Tricia Pitchford represented CMK Champlin Holdings in the sale of 2.5 acres just north of the intersection of Highway 169 and 117th Avenue North, where Goodwill plans to start construction later this year on its first Champlin store. George Bestrom represented Goodwill in the sale.
CHICAGO — Chicago-based Essex Realty Group has arranged the $2.15 million sale of the 38-unit Columbia Gardens, a condominium conversion project located at 1615-25 W. Columbia in Chicago. Seven of the units had been sold and the remaining 31 units were sold in bulk in this deal. Jim Darrow and Jordan Gottlieb of Essex were the sole brokers in the transaction.
HUBER HEIGHTS, OHIO — EnTrust Realty Advisors has negotiated the sale of the 49,453-square-foot Good Samaritan Health Center, a medical office building in Huber Heights. The two-story building is 80 percent leased and is anchored by Good Samaritan Hospital, which leases half of the space. EnTrust represented the seller, The Alter Group. The buyer is a joint venture established by Columbus, Ohio-based Equity, Inc.
MILWAUKEE — Brennan Investment Group has completed the sale-leaseback of a 95,500-square-foot industrial property located at 11225 Heather Ave. in Milwaukee to Integrated Filing Solutions for an undisclosed price. Sam Dickman, Jr., of Milwaukee, Wis.-based The Dickman Co. represented the tenant in the transactions.
CHICAGO — Chicago-based general contractors Safeway Construction and Weis Builders have completed construction on the 45-unit King Legacy Apartments, an affordable apartment complex in Chicago. The three-story complex contains six retail units on the first floor. The Martin Luther King Fair Housing Exhibit Center is the main retail tenant.
CHICAGO — Jeff Cherner with NorthMarq Capital's Chicago office has arranged $8 million in financing for a 67,690-square-foot office building located at 114 S. Racine in Chicago. Major tenants include Intercultural Montessori School, CCMSI and C.H. Robinson Worldwide. Financing was based on a 7-year term with a 25-year amortization schedule and was secured on behalf of the borrower, The Sterling Bay Cos., through a regional bank.
SALINA, KAN. — The 6,533-square-foot Logan's Roadhouse restaurant, located at 3050 Riffel Dr. in Salina, has been sold for $1.44 million. Randy Blakstein and Jimmy Goodman of Northbrook, Ill.-based The Boulder Group represented the buyer, a Chicago-based investor. The seller was a Kansas-based developer.