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.
LINCOLN, NEB. — Bob Chalupa of Q10|Daisley Ruff Financial has arranged a $20 million loan. The loan is for a group of apartment complexes located in Lincoln. The 10-year non-recourse, fixed rate loan carries a 4.94 percent interest rate. Fannie Mae financed the loan. The borrower was not disclosed.
NEW LENOX, ILL. — Morgan/Harbour Construction has completed an 11,868-square-foot build-out for Hinsdale Orthopedic Group within the Silver Cross Medical Office Building. The project is located on the Silver Cross Replacement Hospital Campus at 1870 Silver Cross Blvd. in New Lenox. The project included the construction of X-ray, physical therapy and treatment rooms, a state-of-the-art MRI suite, nursing stations, waiting areas, an office area and a laboratory. The developer of the facility is HSA Commercial Real Estate’s Primecare Division. Design Organization provided architectural services for the project.
Chicago, the nation’s third-largest metropolitan area, is known as a legendary shopping destination. Occupying a glamorous stretch along Chicago’s Michigan Avenue, the Magnificent Mile is lined with fabulous shops, exciting sightseeing activities, restaurants, luxury hotels and even flagship boutiques for some of the world’s most luxurious brands. But the Windy City, like most of the nation, remains mired in a depressed real estate market and faces the worst slump in retailing growth in at least a decade. Vacancies across the Chicagoland market have increased and are currently hovering between 10 and 12 percent. But because the city is so large, there are varying degrees to which areas are affected. The outlying suburbs, where clusters of homes sprouted from farm fields just as the recession began, seem to be faring worse than the downtown area and the more densely populated suburbs. Retailers are taking advantage of the current conditions and many are leaving the “green,” suburban areas and repositioning within the city or upgrading their locations if they already have an urban presence. In the city proper, a massive new Barneys New York emporium opened its doors earlier this year. The 90,000-square-foot store occupies a new six-story building on the corner …
FORT WAYNE, IND. — Keystone Realty has acquired a 40,500-square-foot industrial complex, which is located at 6931 and 6935 Lincoln Parkway in Fort Wayne. Skinner Properties sold the asset for an undisclosed price. Brad Sturges and Bill Cupp of CB Richard Ellis/Sturges represented the seller in the transaction.
OMAHA, NEB. — NorthMarq Capital’s Omaha office has arranged an approximately $25 million loan for Broadmoor Hills Apartments, a 299-unit multifamily property located in Omaha. The financing was based on a 10-year term with a 30-year amortization schedule. John Bendon of NorthMarq Capital arranged the financing for the borrower, Dodge Street Apartments, through NorthMarq’s seller-servicer relationship with Freddie Mac.
CINCINNATI — The Cooper Commercial Investment Group of Cleveland has brokered the ownership interest sale of a Dollar Tree/Deal$ ($5 and Less), which is located at 4224 Glenway Ave. in Cincinnati. The 15,925-square-foot property is situated within a retail corridor and receives additional rent for a parking lot lease with U-Haul. The asset sold for $2.08 million with an 8.94 percent CAP rate. Dan Cooper and Floyd Trillis III represented the owners, Cincinnati-based BDTR Properties, in the transaction.
WICHITA, KAN. — David Farrell of NorthMarq Capital’s Kansas City office has arranged $8 million in first mortgage financing for Berkshire Apartments, a 252-unit multifamily property in Wichita. The 10-year loan, which includes a 30-year amortization schedule, was secured for the borrower, Berkshire Renovations LLC/Maxus Realty Trust, through NorthMarq’s seller-servicer relationship with Freddie Mac.
LATHRUP VILLAGE, MICH. — Z-Comm has completed the disposition of 5,000 square feet of office space at 26400 Southfield Rd. in Lathrup Village. Brine’s Refrigeration Heating and Cooling purchased the property for an undisclosed price. Bob Moon of Friedman Real Estate Group represented the seller in the transaction.
ROMEOVILLE, ILL. — Kylie Capital has purchased a 162,895-square-foot industrial facility, located within Windham Lakes Business Park in Romeoville, from Panattoni Development Co. for an undisclosed price. Panattoni recently purchased the property, which is located at 1186-98 Arbor Dr., as part of a larger portfolio from Prudential Real Estate Investors. Brett Kroner of CB Richard Ellis represented the buyer; Stephen Connolly and Mark Moran of NAI Hiffman represented the seller, Panattoni, in the transaction.
