ST. LOUIS — Net Lease Holdings has acquired an industrial space in St. Louis in a $2.72 million sale-leaseback transaction. STL Craigshire sold the 36,561-square-foot industrial space, which is located at 1940 Craigshire Road. Vernon Martens and Faith Martens of Grubb & Ellis|Gundaker Commercial, along with Colliers Turley Martin Tucker, represented the seller in the transaction.
Midwest
ST. LOUIS — Net Lease Holdings has acquired an industrial space in St. Louis in a $2.72 million sale-leaseback transaction. STL Craigshire sold the 36,561-square-foot industrial space, which is located at 1940 Craigshire Road. Vernon Martens and Faith Martens of Grubb & Ellis|Gundaker Commercial, along with Colliers Turley Martin Tucker, represented the seller in the transaction.
GRAND RAPIDS, MICH. — Berkadia Commercial Mortgage has originated an $11.65 million loan for the refinancing of Bayberry Pointe Apartments in Grand Rapids. David Sibbold and Ernie Katai of Berkadia’s Detroit office originated the fixed-rate financing, which has a 10-year term and a 30-year amortization. The borrower is Bayberry Apartments LLC. The loan was financed through Freddie Mac.
ST. LOUIS — First National Bank of St. Louis has purchased 15,000 square feet of office space at 12232 and 12224 Tesson Ferry Road in St. Louis. Hoffman Group sold the property for $1.57 million. Andrew Bagy and David Biales of Grubb & Ellis|Gundaker Commercial represented the buyer in the transaction.
MILWAUKEE — Women’s Care Center Inc. has acquired a 3,700-square-foot property that is located on Milwaukee’s east side. The buyer plans to relocate its offices to the building, which is the former Blue Dawg Bagels. David Barry and Max Yokosh of Colliers Barry’s Milwaukee office brokered the transaction. The acquisition price was not disclosed.
LORAIN, OHIO — Lorain-based American Eagle Mortgage Co. (AEMC) has entered into an agreement to acquire the assets of Real Estate Mortgage Corp. (REMC). The acquisition adds three locations to AEMC’s portfolio in the Cleveland market, including Rocky River, Beachwood and Twinsburg. Current president of REMC, Mark Johnston, will continue as vice president at AEMC. Details of the transaction were not disclosed.
ST. LOUIS — Lehman Place LLC and Capstone Development Group has acquired Lehman Place, a condominium and retail property located at 6400 Wise Ave. in St. Louis. The property was built in 2007 and was later foreclosed by the lender, Southern Commercial Bank. Ken Aston of Hendricks & Partners represented the seller, Southern Commercial Bank, in the transaction. The acquisition price was not disclosed.
SOUTHFIELD, MICH. — Gary Grochowski and Garrett Middlekauff of L. Mason Capitani represented the undisclosed seller in the disposition of a 14,890-square-foot property, which is located at 17220 W. Twelve Mile Rd. in Southfield. The undisclosed buyer plans to redevelop the property into an office/medical building. The acquisition price was not disclosed.
TALLMADGE, OHIO — Wave Lighting has leased a 34,000-square-foot industrial space in Tallmadge. The company plans to use the facility, which is located at 235 Northeast Ave., for offices, warehousing and light assembly. Jeff Davis and Tom Fox of NAI Cummins brokered the transaction of behalf of both parties.
SHELBY TOWNSHIP, MICH. — Hi-Tech Furnace, a manufacturer in the aerospace industry, has purchased a 10,464-square-foot building, which is located at 13179 W. Star in Shelby Township. Joe DePonio and Jason Capitani of L. Mason Capitani represented the seller, UPS Capital, in the transaction.