CHICAGO — 40th Place LLC has acquired a 268,200-square-foot industrial facility in Chicago. The property, which is located on 12.08 acres at 328 W. 40th Place, sold for an undisclosed price. The building is currently leased to a single tenant. Matt Rogatz of Chicago Industrial Real Estate represented the seller, JII Real Estate, in the transaction.
CASCADE TOWNSHIP, MICH. — The Hinman Company has acquired 3040 Charlevoix Drive SE, an office building in Cascade Township, for an undisclosed price. The buyer plans to renovated the two-story, 38,919-square-foot building and modernize the commons areas. Once renovated the building will accommodate any office tenant from 9,000 square feet to the entire building. Terms of the transaction were not released.
ELDRIDGE, IOWA — Joseph T. Ryerson has leased a 171,951-square-foot industrial property in Eldridge. The rail-served facility features 38- to 42-foot ceilings, 12-inch reinforced floor, and a 50-ton and two 30-ton bridge cranes. Ryerson will use the facility as a plate processing center. Charlie Armstrong of NAI Ruhl & Ruhl Commercial Company represented the landlord, Blue Dog LC, and Kathy Bellinger of Daum Commercial Real Estate Services represented the tenant.
BELLEVUE, NEB. — Bob Chalupa of Q10|Daisley Ruff Financial has arranged a $3.36 million loan for an office property in Bellevue. The non-recourse financing carries a 5.25 percent rate and a 10-year term on a 25-year amortization schedule.
KANSAS CITY, MO. — A partnership between Jasper Stone Partners and Agman Partners has purchased Stateline Station Shopping Center in Kansas City. Located at the intersection of 135th Street and State Line Road, the 163,000-square-foot property sold for $10.75 million. The property was 78 percent occupied at the time of acquisition. Ember Grummons of Investors Realty represented Jasper Stone Partners, and Jon Pesce and Kevin Rhodes of Seldin Co. represented Agman Partners in the transaction. The seller, M&I Bank, was represented by Paul Mulligan of Cormac Co. and Rob Luellen of Quantum Development.
WEST DUNDEE, ILL. — JLM Financial Investments has acquired a $7.9 million commercial real estate loan, which is secured by Springhill Fashion Corner Shopping center in West Dundee. JLM purchased the non-performing note through a sealed-bid purchase. Built in the mid-1980s and renovated in 2008, the 123,217-square-foot retail center was 44 percent occupied at the time of closing.
CHICAGO — NorthMarq Capital has arranged a non-recourse first mortgage of $25 million for 300 West Adams, an office building in Chicago. The 12-story building offers 253,000 square feet of office space. Major tenants at the property include Teach for America, Illinois Criminal Justice, Vibes Media and PNC. Financing terms for the loan were not released. Jeff Cherner of NorthMarq's Chicago Regional office arranged the financing.
CHICAGO — Englewood, N.J.-based Bon Aviv Investments, a joint venture between Israel-based Aviv Arion and Bon Investments, has acquired The Century Shopping Centre in Chicago. Located in Chicago's Lakeview neighborhood, the six-level, 186,349-square-foot shopper center sold for $18.5 million. Current tenants include Bally Total Fitness, The Aveda Institute, Landmark Theatres and Victoria's Secret. Ben Wineman and Stan Nitzberg of Mid-America Real Estate Corp.'s Investment Sales Group represented the seller, Century Mall LLC, in the transaction.
CHICAGO — Summit Design + Build has completed a 4,900-square-foot build-out of medical office space for Primary Care Medical Associates. Located at 1460 N. Halsted St. in Chicago, the new space features 11 exam rooms, private doctor offices, a reception area and a break rom. Fitzgerald Earles Architects and Associates provided design services for the project. Structured Development owns the building.
WOODBURY, MINN. — Brian Hennen of NorthMarq Capital's Minneapolis Regional office has arranged $3.6 million in financing for Woodbury Medical in Woodbury. The 22,963-square-foot medical office building is located at 2101 Woodwinds Dr. Financing was arranged for the borrower by NorthMarq through its correspondent relationship with Thrivent Financial.