KOKOMO, IND. — Northbrook, Ill.-based The Boulder Group has arranged the sale of a 9,684-square-foot, single-tenant GSA property, located at 353 West Alto Rd. in Kokomo, for $2.27 million. The GSA has seven years remaining on its lease. Randy Blankenstein and Jimmy Goodman of The Boulder Group represented the seller, a private partnership. The buyer was a New York-based 1031 exchange investor.
INDIANAPOLIS — RCCM has sold a 66,761-square-foot car dealership, located at 4090 Lafayette Rd. in Indianapolis, to DriveTime Car Sales Co. for $1.16 million. Harvey Levin of Coldwell Banker Commercial Realty Services' Indianapolis office represented the seller and Summit Real Estate represented the buyer.
ELWOOD, ILL. — Malvern, Pa.-based Liberty Property Trust has acquired two industrial buildings at Centerpoint Intermodal Center in Elwood from Mirvac for $60 million. The buildings include an approximately 1.02 million-square-foot warehouse/distribution center located at 212705-07 Mississippi St. and a 213,500-square-foot warehouse/distribution center located at 27413 S. Baseline Rd. The properties are currently 36 percent leased.
CINCINNATI —CB Richard Ellis has arranged the sale of the 231-unit One Lytle Place, a multifamily property located at 621 E. Mehring Way in Cincinnati. The property also contains 32,000 square feet of commercial space. Indianapolis-Cincinnati Multihousing group of CBRE represented the seller in the transaction.
AURORA, ILL.; AND PLEASANT PRAIRIE, WIS. — Chicago-based Paine/Wetzel · ONCOR International has arranged two transactions involving industrial buildings in Illinois and Wisconsin. In Aurora, Trigon International purchased a 75,203-square-foot industrial building in the Meridian Business Campus, located at 4000 Sussex Ave., from Duke Realty. Jerry Sullivan and Brandon Wright of Paine/Wetzel represented the buyer and Elise Couston and William Kerrins of the same firm represented the seller. In Pleasant Prairie, Kirsan Engineering purchased a 32,500-square-foot industrial building in LakeView Corporate Park, located at 8201 100th St., from PPG Industries. Sam Badger and Brad Weiner of Paine/Wetzel represented the buyer and Ryan Kehoe of Grubb & Ellis' Rosemont, Ill., office represented the seller.
KANSAS CITY, MO. — Arby's and Wendy's have both acquired land to construct new restaurants at North Oak Village, located at North Oak and Vivion roads in Kansas City. Arby's purchased 36,000 square feet for a 2,800-square-foot restaurant. Mark McConahay with Kansas City-based Block & Co. represented the Arby's and Chuck Zoog with The R.H. Johnson Company represented the seller, Hunt Midwest/The R.H. Johnson Company, in the transaction. Wendy's purchased 43,365 square feet for a 3,000-square-foot restaurant. Cas Patykiewicz with The R.H. Johnson Company represented Wendy's and Zoog represented Hunt Midwest/R.H. Johnson Company, the seller, in the transaction. Wendy's will open late 2012.
MILWAUKEE — Stadium Business Park, located at 1745 S. 38th St. in Milwaukee, has selected Inland Construction for its 23,200-square-foot tenant improvement project, which is scheduled for completion in December. The project consists of demolition and construction of new interiors, offices, lunchroom, bathroom and training room.
ILLINOIS, INDIANA AND OHIO — Exeter Property Group has acquired a portfolio of 19 industrial buildings from a partnership between Pinchal & Co. and American National Insurance Co. for $240 million. The portfolio comprises 6 million square feet of space that was 98 percent leased at the time of closing. The portfolio is leased to 27 tenants, a majority of which are publicly traded or credit-rated. The average remaining lease term is 5.8 years. The Jones Lang LaSalle team of John Huguenard, Peter Harwood, Garry Weiss and Sean Devaney represented the seller. Eight of the 19 buildings are located in the Midwest. One property is located in the St. Louis suburb of Granite City, Ill.; five properties are located in Indianapolis; and one property each is located in Whitestown, Ind., and Groveport, Ohio.
SOUTH LYON, MICH. — The Michigan office of Mid-America Real Estate has completed the sale of a 55,000-square-foot building within Lyon Town Square Shopping Center, a retail property located at the intersection of 8 Mile Road and Pontiac Trail in South Lyon. The Mid-America team of Richard Kerwin, Bill Wright and Ben Wineman represented the buyer, Topeko Inc., and the seller, Lyon Creek LLC. The acquisition price was not disclosed.
MARYLAND HEIGHTS, MO. — Kaplan Real Estate Co. has brokered the sale of an approximately 33,000-square-foot warehouse/office flex property located at 2282 Grissom Drive in the St. Louis suburb of Maryland Heights. Kaplan represented the seller, a lending institution that had foreclosed on the property. The buyer's name was not released.