MENOMONEE FALLS, WIS. — M&M Quality Solutions, a third-party containment organization, has leased 85,000 square feet of industrial space at Menomonee Falls Industrial Park in Menomonee Falls. Located at N90W14700 Commerce Drive, the 100,000-square-foot building is owned by SBM of Wisconsin. Terms of the lease were not released. Kevin Barry and Kurt Van Dyke of Cassidy Turley Barry represented the landlord; Brian Parrish of The Dickman Company represented the tenant in the transaction.
Midwest
GREENFIELD, IND. — Welch & Wilson Properties, a third-party logistics company, has leased a 115,557-square-foot office/warehouse facility in Greenfield. The company will use the facility, which is located at 315 W. New Road, as a new operations base. Mark Writt and Tom Cooler of CB Richard Ellis’ Indianapolis office represented the landlord, California State Teachers’ Retirement System, in the transaction. Additional terms of the lease were not disclosed.
JACKSONVILLE, ILL. — Northbrook, Ill.-based The Boulder Group has brokered the sale of a single-tenant office building in Jacksonville. New York-based SNC Realty purchased the 61,400-square-foot property for $6.2 million. The building is fully occupied by Blue Cross and Blue Shield. Randy Blankstein of The Boulder Group represented the seller, a private Chicago investor. The buyer was self-represented.
COLUMBUS AND CINCINNATI, OHIO — Viking Partners has acquired two non-performing notes with a total face value of $8.6 million for two retail centers in Ohio. The company purchased the $4.5 million note for Galloway Crossing, a 28,000-square-foot center in Columbus, and the $4.1 million note for Deerfield South, a 20,000-square-foot property in Cincinnati. Viking is currently seeking non-performing and maturity default loans with a transaction range of $1 to $25 million in the Midwest and Southeast.
CLIO, MICH. — PNC Bank National Association has sold a 12,000-square-foot industrial space to Webster & Garner, a distributor of commercial fuel, propane and petroleum products. Located at 900 Tacoma Court in Clio, the property sold for an undisclosed price. Paul Feldman of Friedman Real Estate Group represented the seller in the transaction.
CHICAGO — Roosevelt University has broken ground for its new 32-story tower at 425 S. Wabash Ave. in Chicago’s South Loop. Designed by Chicago-based VOA Architects, the tower will be the second tallest educational facility in the country. The facility will feature classrooms, lecture halls, state-of-the-art science labs, conference rooms, a dining center, a student recreation center, residences for more than 600 students, offices and space for the Walter E. Heller College of Business Administration. Seeking LEED certification, the project will feature a green roof, recycled and sustainable building materials, energy and water efficiencies and attention to indoor environmental quality. The $118 million project is being managed by the John Buck Company and constructed by Power Construction.
TOMAH, WIS. — Ryan Companies US recently broke ground for the construction of a 354,192-square-foot distribution center in Tomah for The Toro Company. Scheduled for completion this fall, the facility will serve as the distribution hub for the company’s commercial turf products. Construction is slated to begin in September, with plans for Toro to transition operations to the new facility in early October. Ryan is providing an integrated development, architecture, engineering, construction and capital markets solution for the project.
DES PLAINES, ILL. — Midwest Gaming has been awarded the final Illinois casino license and plans to develop a 200,000-square-foot casino facility at 3000 River Road in Des Plaines. In order to develop the new facility, Midwest Gaming executed its options to purchase and terminate its current lease at Revere Mills, which is owned by Marc Realty. In May, Revere Mills is relocating to a 10,000-square-foot office property at 2840 River Road in Des Plaines and a 182,000-square-foot warehouse in Greenville, S.C. Ben Rosenfield of Titan Commercial arranged the transaction, which involved renegotiating leases, purchase rights and termination agreements. The deal involved Midwest Gaming, Marc Realty and Revere Mills International Group.
SOUTH BARRINGTON AND JOLIET, ILL. — Marcus & Millichap’s Oak Brook, Ill., office has brokered the sale of two CVS/pharmacy locations in South Barrington and Joliet. A limited liability company organized by Chicagoland Trust acquired the properties for $12.6 million. The properties, which both have 25-year triple-net leases in place, are located at 100 W. Higgins Road in South Barrington and 2375 Drauden Road in Joliet. Austin Weisenbeck of Marcus & Millichap represented the buyer; Sean Sharko and Clinton Mitchell, also of Marcus & Millichap, represented the seller, a limited partnership.
ST. LOUIS — Granite City, Ill.-based AB Acres LLC has purchased Jefferson Arms, which is located at 409-415 N. Tucker Blvd. in St. Louis. The 578-unit multifamily property sold for an undisclosed price. The historic property was originally built in 1904, with an addition constructed in 1928. The ground floor of the building features a lobby, a dining room, a coffee shop and storefronts. The seller was Delaware-based Municipal Realty Corp./Thousand Oaks, Calif.-based Citi Community Capital. Ken Aston and Andrea Kendrick of Hendrick & Partners’ St. Louis office represented the seller in the transaction.