Midwest

534-UNIT MULTIFAMILY PROPERTY SELLS IN MINNESOTA

by admin March 9, 2011

BLOOMINGTON, MINN. — Westdale Investment Partners has acquired Hampshire Hill Apartments in Bloomington for an undisclosed price. Located at 10660 Hampshire Avenue South, the 584-unit property offers studio, one- and two-bedroom units averaging 980 square feet. Community amenities include a clubhouse, a pool, a business center, a fitness center, a dry cleaning service, a car wash facility, a dog park and walking/biking trails. Additionally, each building offers heated underground parking. Matthew Lawton, Sean Fogarty and Marty O'Connell of Holliday Fenoglio Fowler represented the undisclosed seller in the transaction.

March 9, 2011

144-UNIT MULTIFAMILY PROPERTY SELLS FOR $13.29 MILLION IN OHIO

by admin March 9, 2011

BEREA, OHIO — Pennsylvania-based Stone Ridge Apartments LLC has acquired Stone Ridge Apartments, which is located at 1000 Stone Ridge Circle in Berea. The 144-unit property consists of six three-story buildings constructed in 2007. The property has 36 one-bedroom and 108 two-bedroom units. Community amenities include a clubhouse, a 24-hour fitness center, a gourmet coffee bar, a business center and a resort-style heated swimming pool. Daniel Burkons, Michael Barron and Joshua Wintermute of Marcus & Millichap represented the buyer. David Davenport and Barbara Sullivan of Cleveland-based Bellwether Real Estate Capital arranged financing for the acquisition. The seller was not released.

March 9, 2011

Industrial Midwest

173,315-SQUARE-FOOT INDUSTRIAL PROPERTY FETCHES $5.22 MILLION IN OHIO

by admin March 9, 2011

STREETSBORO, OHIO — Automated Packaging Systems Inc. has purchased the former Playtex facility at 600 Mondial Parkway in Streetsboro. Playtex Manufacturing sold the industrial facility for $5.22 million or $30.15 per square foot. Built in 1995, the 173,315-square-foot property features 6,000 amps of power, pipe distribution for chillers/condensers and is rail served. George Pofok and Joseph Barna of CRESCO Real Estate, along with Tim Luli of PlayhouseSquare Real Estate Services of Cleveland represented the buyer; Terry Coyne of Grubb & Ellis represented the seller in the transaction.

March 9, 2011

Industrial Midwest

21,756-SQUARE-FOOT PROPERTY LEASED IN CHICAGO

by admin March 9, 2011

CHICAGO — Red Frog Events has signed a lease for a 21,756-square-foot facility in Chicago. 14th Place LLC leased the space, which is located at 555 W. 14th Place, to Red Frog for an undisclosed price. Matt Rogatz of Chicago Industrial Real Estate represented the landlord, 14th Place; Jason Schulz and Rich Schulz of The J Rich Company represented the tenant, Red Frog Events, in the transaction.

March 9, 2011

Industrial Midwest

241,896-SQUARE-FOOT INDUSTRIAL FACILITY SELLS IN INDIANAPOLIS

by admin March 8, 2011

INDIANAPOLIS — Victory JV3 LLC has acquired a 241,986-square-foot manufacturing and distribution facility in Indianapolis. Situated on 18.62 acres at 3011 N. Franklin Road, the property offers 30,000 square feet of office space. The facility will be occupied by Genesis Casket Co., which will open operations this summer. Jeff Castell of Cassidy Turley/Indianapolis represented the seller, SMC Corp., in the transaction. The acquisition price was not released.

March 8, 2011

Industrial Midwest

181,000-SQUARE-FOOT FACILITY SELLS IN ELK GROVE VILLAGE, ILL.

by admin March 8, 2011

ELK GROVE VILLAGE, ILL. — CenterPoint Properties has purchased the RR Donnelly building in Elk Grove Village. Located at 2075 Busse Road, the property features 181,000 square feet of industrial warehouse space. Mark Baumhart of Arthur J. Rogers & Co. represented the buyer and seller, National Terminsal LLC, in the transaction. The acquisition was valued at $6.56 million.

March 8, 2011

Midwest Office

$80 MILLION LOAN SECURED FOR OFFICE TOWER IN MO.

by admin March 8, 2011

CLAYTON, MO. — Cassidy Turley has secured $80 million in long-term, fixed-rate financing for Centene Plaza, an office tower in Clayton. Located at 7700 Forsyth Blvd., the 17-story, 486,000-square-foot office tower was developed by a related entity of Centene Corp. Christian Miles and Philip Mudd of Cassidu Turley arranged the financing on behalf of the borrower, Centene Corp.

March 8, 2011

Midwest Office

15,734-SQUARE-FOOT WILLIAMSON CENTER SELLS IN INDIANAPOLIS

by admin March 8, 2011

INDIANAPOLIS — Indiana Landmarks has completed the disposition of the Wiliamson Center in Indianapolis. The Indiana University Foundation purchased the 15,734-square-foot office property, located at 340 W. Michigan St., for an undisclosed price. The buyer plans to relocate its Indianapolis-based staff to the building from its current location on North Meridian.

March 8, 2011

Industrial Midwest

330,000-SQUARE-FOOT INDUSTRIAL FACILITY TRADES HANDS IN MICHIGAN

by admin March 7, 2011

GRAND BLANC, MICH. — Grand Blanc Machinery Center has acquired a 330,000-square-foot industrial plant in Grand Blanc. Cadence Innovation sold the property, which is located at 10230 N. Holly Road, for an undisclosed price, although the asking price was $1.97 million. Joe DePonio and Jason Capitani of L. Mason Capitani brokered the transaction.

March 7, 2011

Industrial Midwest

30,040-SQUARE-FOOT PROPERTY SELLS IN WISCONSIN

by admin March 7, 2011

MARQUETTE, WIS. — Cole Real Estate Investments has purchased a 30,040-square-foot facility in Marquette. The property, which is located at 3725 U.S. Highway 41 West, was sold by Club House Michigan LLC for an undisclosed price. Peter Nisbet of Marcus & Millichap represented the seller; Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The acquisition price was not released.

March 7, 2011

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