WICHITA, KAN. — The Hampshire Companies has completed the disposition of Marina Lakes Shopping Center in Wichita. Situated on 13.5 acres at 2021 N. Amidon, the 172,041-square-foot retail center is occupied by Radio Shack, Dollar General and Payless Shoes. The buyer, Hobb Partners, plans to redevelop the vacant anchor site into a Walmart Neighborhood grocery store. Hobb Partners, an entity formed by Overland Park, Kan.-based Henzlik-Oliver Real Estate Cos., bought the retail center for an undisclosed price. Tyler Oliver of Henzlik-Oliver Real Estate Cos. represented the buyer in the transaction.
CAHOKIA, ILL. — Cambridge has provided a $3.9 million HUD first mortgage loan for the refinancing of Cahokia Nursing and Rehabilitation Center in Cahokia. The skilled-care nursing facility offers 150 beds. The fully amortized, 35-year term loan was arranged for the undisclosed property owners using HUD's Section 232 pursuant to Section 223(a)(7) funding program. The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois.
CANTON AND FLINT, MICH. — NAI Farbman has brokered two retail sales totaling 79,000 square feet in Michigan. In the first transaction, Paul DeBono of NAI Farbman represented as receiver for CSS-Ann Arbor Canton LLC in the sale of a 31,000-square-foot property, located at 40150 Ford Road in Canton, to Robert Jacobs. In the second transaction, DeBono represented Comerica in the sale of 48,000 square feet at 3477 Beecher Road in Flint to MGR Inc., which was represented by NAI Farbman's David Lautenbach. Additional details of the transactions were not released.
RIVERDALE, ILL. — Turnstone Development Corp. has completed reconstruction and renovation of Riverdale Senior Apartments, which is located at 335 West 138th Street in Riversdale. The five-story, 52-unit building offers 43 one-bedroom apartments and nine two-bedroom units, in a combination of public and affordable housing. Additionally, the building features three ADA accessible units and eight ADA adaptable units. Reconstruction of the 45-year-old building included the addition of a community room, an on-site laundry facility, two new elevators and a general social services offices. McShane Construction, which served as general contractor for the project, completed tuckpointing, balcony refurbishing, replacement of all windows and roofing materials and provided new entryway canopies. McShane also installed a new fire sprinkler system, electrical and plumping updates and a modernized HVAC system. The project received funding from the American Reinvestment and Recovery Act through the U.S. Department of Housing and Urban Development, the Housing Authority of the County of Cook, Ill., and the County of Cook's Department of Planning and Development. Piekarz Associates PC provided architectural services for the project.
WARREN, MICH. — Detroit Spectrum Painters has purchased a 16,974-square-foot office building in Warren for an undisclosed price. The company plans to relocate its commercial, industrial and residential painting business to the new facility, which is located at 27560 College Park Dr. Michael Grammatico of L. Mason Capitani CORFAC International represented the buyer in the transaction. The seller was not released.
WARRENVILLE, ILL. — J.C. Anderson has completed a 72,000-square-foot office renovation for BP in Warrenville. The energy company is relocating its offices to 28100 Torch parkway within Cantera II from 150 Warrenville Road. The renovation project included the complete demolition of the existing furniture and the construction of new offices, work stations and training rooms, including new carpeting and paint, as well as mechanical, electrical and plumbing modifications. Design Organization provided architectural services for the project.
CINCINNATI — Union Township Clermont County CIC Inc. of Ohio has acquired bigg's Place Mall in Cincinnati for $7.5 million. Situated on 40.62 acres, the 402,786-square-foot retail center is occupied by Hobby Lobby, Regency Beauty, Original Mattress Factory, Danberry Cinemas and Rincon Mexican Restaurant. At the time of acquisition, the property was 43 percent occupied. Steve Timmel, Jeff Johnston and Chris Prosser of Colliers International represented the seller, JPMCC 2006-LDP6 EASTGATE BOULEVARD LLC, in the transaction.
LINCOLNSHIRE, ILL. — Interior Investments has purchased a 75,703-square-foot industrial warehouse building, which is located at 550 Bond St. in Lincolnshire. Bond Street LLC sold the property for an undisclosed price, although the asking price was $4.4 million. Situated on 4.3 acres, the property offers 10,183 square feet of office space, three interior loading docks and heavy parking. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis (CBRE) brokered the transaction.
SHREWSBURY, MO. — NorthMarq Capital has arranged an $8.5 million loan for Mackenzie Pointe Shopping Center, a grocery-anchored retail center in Shrewsbury. Situated on 23.23 acres at 7241 Watson Road, the property offers 167,916 square feet of rentable retail space. The major tenant is Dierbergs. Financing was based on a 10-year term and a 25-year amortization schedule. Jeff Chaney of NorthMarq Capital's St. Louis Regional office arranged the financing.
STERLING HEIGHTS, MICH. — Bernard Financial Group has arranged a $5.4 million loan for the Sterling Town Center in Sterling Heights. The property offers 125,723 square feet of office space. The borrower was Sterling Limited Partnership. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan, which was financed by Symetra Life Insurance Co.