DOVER, OHIO — New York-based Cedar Shopping Centers has completed the disposition of Discount Drug Mart Plaza in Dover. Located at 3015 N. Wooster Ave., the 38,409-square-foot property sold for $3.23 million. The fully leased center is anchored by Medina, Ohio-based Discount Drug Mart. Dan Cooper of The Cooper Commercial Investment Group represented the seller and undisclosed buyer in the transaction.
WILLOWBROOK, ILL. — Pirrello Digital Imaging has purchased a 49,122-square-foot industrial property, which is located within Madison Business Park at 7350 S. Madison in Willowbrook. The buyer is relocating its corporate headquarters and studio to the new facility. Bill Waliewski of Morgan Realty Partners represented the buyer; Brett Kroner and Traci Buckingham of CB Richard Ellis represented the seller, Lab Source. The acquisition price was not disclosed.
CHICAGO — The Chicago office of NorthMarq Capital has arranged $27.44 million in first mortgage financing for Midwest Orthopaedics at Rush, an 117,000-square-foot medical office center located in Chicago. The 10-year loan carries an 80 percent loan-to-cost and a fixed rate. Michael Sieman of NorthMarq arranged the financing on behalf of the undisclosed borrower.
SOUTHFIELD, MICH. — Friedman Real Estate Group has negotiated the sale of 20,973 square feet of industrial space at 21500 W. 8 Mile Road in Southfield. CCPZ Investments acquired the property for an undisclosed price. The buyer plans to use the property for its granite business. Friedman’s Todd Hawley and Paul Feldman represented the seller, LR Properties, in the transaction.
BROOKLYN PARK, MINN. — Ryan Companies US has completed the sale of an industrial property, which is located at 9303 W. Broadway within 610 Business Center in Brooklyn Park. Bio Test acquired the 75,000-square-foot facility for $3.67 million. Mark Sims of Colliers Turley Martin Tucker – Minneapolis/St. Paul represented the seller in the transaction.
CHICAGO — NorthMarq Capital’s Chicago Regional office has completed the sale of ten well-performing seasoned commercial mortgage loans. The transaction was between two undisclosed institutional entities. The properties are located in Illinois, Minnesota, Wisconsin, Missouri, Ohio, California and Washington. The assets include an apartment community, a medial office property, an office property, two industrial properties and five retail properties. The size of the loans range from $2.27 to $7.96 million with 7 to 16 years of seasoning and remaining loan terms of 3 to 16 years. Jeff Frankel, Erik Kunz and Mike Sieman of NorthMarq arranged the transaction.
STRONGSVILLE, OHIO — Euro Fresh Market has leased 15,336 square feet of retail space at Strongsville Towne Center in Strongsville. The grocer specializes in fresh fruits, vegetables, meats, cheeses, baked goods, pasta and prepared meals. Bobby Benjamin of Goodman Real Estate Services Group represented Euro Fresh Market in the transaction.
WARREN, MICH. — Yangfeng Visteon Jinqiao Automotive Trim has leased approximately 80,768 square feet of industrial space in Warren. Ashley Warren LLC leased the space, which is located at 14275 Frazho, for an undisclosed price. The tenant, an automotive interiors supplier, plans to use the space for warehousing parts. Gene Agnone, Matt Osiecki, Mark Collins and Jamie Dingeman of CB Richard Ellis Detroit represented the tenant in the transaction.
WICHITA, KAN. — Robert Ranieri and David Farrell of NorthMarq Capital have arranged a total of $35.11 million in first mortgage financings for a multifamily portfolio in Wichita. The six-property portfolio features a total of 1,277 units. The 10-year term loans range from $4.1 to $9.1 million and carry 30-year amortization schedules. The borrowers are Dermot Wichita East LLC and Dermot Wichita West LLC. Freddie Mac provided the loans.
CHICAGO — Northbrook, Ill.-based River West Plaza-Chicago has filed for Chapter 11 bankruptcy protection from creditors and a reorganization plan in U.S. Bankruptcy Court on behalf of its 95,000-square-foot Joffco Square retail center in Chicago. Located at 555 W. Roosevelt Road, Joffco Square is currently 83 percent occupied. The reorganization plans provides for the company’s trade creditors to be paid in full with interest and the terms of the company’s $26.15 million acquisition and construction loan, which matured in November, to be renegotiated with Bank of America N.A. Illinois-based Meltzer, Purtill & Stelle LLC is representing River West Plaza-Chicago in the bankruptcy petition.