Midwest

FERGUSON ENTERPRISES LEASES 149,522 SQUARE FEET IN WEST CHICAGO AREA

by admin November 13, 2009

ADDISON, ILL. — Ferguson Enterprises has leased 149,522 square feet of flex space at 880 S. Rohlwing Rd. in Addison. The wholesale plumbing supplier plans to take occupancy in January and utilize the property for a sales counter, warehousing and administrative offices. The company will share the 453,100-square-foot building with Brook Electric, a division of Sonopar. Justin Lerner and David Friedland of Newmark Knight Frank Epic, along with John Cash, David Haigh and Irv Malik of NAI Hiffman, represented Ferguson; Jeff Lanaghan provided in-house representation for the ownership, IDI. Terms of the lease were not disclosed.

November 13, 2009

NO. 1 BUFFET CHINESE RESTAURANT LEASES SPACE IN ELYRIA, OHIO

by admin November 13, 2009

ELYRIA, OHIO — Centro Properties Group has leased 9,900 square feet of space to No. 1 Buffet Chinese Restaurant. The property is located at the corner of West River Road North and Midway Boulevard within Midway Crossing in Elyria. Avi Abroms provided in-house representation for Centro Properties Group, which owns the property. Terms of the lease were not released.

November 13, 2009

Midwest Retail

AGREE REALTY OBTAINS $11.4 MILLION LOAN FOR MICHIGAN PROPERTIES

by admin November 13, 2009

FLINT, MICH. — Farmington Hills, Mich.-based Agree Realty Corp. has received $11.4 million in financing. The financing consists of three non-recourse, self-amortizing notes, which each carry a fixed rate of 6.27 percent, that mature in July 2026. The loans were secured by mortgages on three of the company’s retail properties located in Flint. Agree Realty owns, manages and develops retail properties. The company currently owns and operates a portfolio of 72 properties, which offer a total of 3.5 million square feet of gross leasable space.

November 13, 2009

Midwest Restaurant

LOGAN’S ROADHOUSE TO OPEN IN DAYTON, OHIO

by admin November 13, 2009

DAYTON, OHIO — Logan’s Roadhouse Restaurant has signed a lease for 6,500 square feet of space at South Towne Centre, which is located on Miamisburg-Centerville Road in Dayton. David Kozar of Indus Cos. represented the tenant; Elizabeth Houser provided in-house representation for the landlord, Centro Properties Group, in the transaction. Additional terms of the lease were not disclosed.

November 13, 2009

Midwest Office

17,700-SQUARE-FOOT MADISON OFFICE PROPERTY SELLS

by admin November 12, 2009

MADISON, WIS. — American Academy of Cosmetic Dentistry has acquired a 17,700-square-foot office property in Madison. Located at 402 W. Wilson St., the property sold for $2.2 million. Todd Waller of Lee & Associates represented the buyer. The seller was not released.

November 12, 2009

Midwest

CHICAGO-BASED BRENNAN INVESTMENT GROUP LAUNCHES

by admin November 12, 2009

CHICAGO — Michael Brennan, former president and CEO of First Industrial Realty Trust, has formed Brennan Investment Group, a privately held industrial real estate investment firm in Chicago. The firm will acquire, develop and operate industrial properties in select major metropolitan markets throughout the United States. The co-founders and managing principals are Peter Murphy, who is responsible for transactions in the Eastern United States; Kareem Fikri, who focuses on the Midwestern United States; Robert Krueger, who is responsible for Central Florida; Britten Shuford, who will focus on the Western United States; and Kevin Smith, who focuses on Indianapolis; Cleveland, Cincinnati and Columbus, Ohio; and Nashville and Memphis, Tenn.

November 12, 2009

Midwest Multifamily

ARBOR ARRANGES $4.9 MILLION LOAN IN KANSAS CITY, MO.

by admin November 12, 2009

KANSAS CITY, MO. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has arranged a $4.9 million loan for the 217-unit Sterling Court Apartments in Kansas City. The 10-year loan, which carries a note rate of 5.9 percent, has a 26-year amortization schedule. The loan was provided under the Fannie Mae DUS Loan product line. Ronen Abergel of Arbor originated the financing.

November 12, 2009

Midwest Office

10,000-SQUARE-FOOT OFFICE LEASE SIGNED IN TROY, MICH.

by admin November 12, 2009

TROY, MICH. — Echo Global Logistics has leased 10,000 square feet of office space at 3331 W. Big Beaver Rd. in Troy for an undisclosed price. The company is a provider of technology enabled business process outsourcing. Steve Eisenshtadt of Friedman Real Estate Group represented the tenant. The landlord was Troy Place II Associates.

November 12, 2009

Industrial Midwest

202,000-SQUARE-FOOT INDUSTRIAL FACILITY IN ORRVILLE, OHIO, SELLS

by admin November 11, 2009

ORRVILLE, OHIO — Holtec International has acquired a 202,000-square-foot industrial facility, which is located at 1400 Diary Ln. in Orrville. Situated on a 25.72-acre site, the property offers 186,700 square feet of industrial space and 15,400 square feet of office space. The company will open a nuclear power division, which provides management solutions for the backend of the nuclear power cycle, at the site. Matt Beesley and Fred Christie of CRESCO Real Estate represented the seller, American Weatherseal, in the transaction. The acquisition price was not disclosed.

November 11, 2009

Midwest Office

CATHY’S CONCEPTS LEASES 40,000 SQUARE FEET IN INDIANAPOLIS

by admin November 11, 2009

INDIANAPOLIS — Cathy’s Concepts has leased a 40,000-square-foot office/warehouse facility in Indianapolis. Founded in 1988, Cathy’s Concepts is a wholesale manufacturer and distributor of gifts for all occasions. The privately held company is headquartered at 6900 E. 30th St. in Indianapolis. Mark Writt and Tom Cooler of CB Richard Ellis’ Indianapolis office represented the landlord, 6900 Complex LLC, and the tenant in the transaction. Terms of the lease were not disclosed.

November 11, 2009

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