OMAHA, NEB. — Gary Rifkin of NorthMarq Capital’s Omaha Regional office has arranged $2.15 million in first mortgage financing for a Walgreens pharmacy location. The 14,904-square-foot retail property is located at 2323 L Street in Omaha. The loan has a 10-year, fixed-rate term with a 20-year amortization schedule. NorthMarq arranged the loan for the borrower, BDRE – L Street LLC, through its relationship with American National Bank.
SOUTHFIELD, MICH. — An undisclosed information technology company has leased 28,000 square feet of office space in Southfield. Located at 300 Galleria Officentre, the property is owned by Nemer Property Group. John Khami of Lee & Associates Michigan represented the tenant. Terms of the lease were not released.
BARRINGTON, ILL. — Walgreens Barrington 1 LLC has acquired a 14,490-square-foot Walgreens location in Barrington. Located at 189 Northwest Highway, the property sold for $9.27 million. The retail property is 100 percent leased to Walgreens on a long-term basis. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private Chicago-based developer, in the transaction.
LAWRENCE, KAN. — NorthMarq Capital’s Kansas City Regional office has arranged $19.8 million in first mortgage financing for Hutton Farms, multifamily property in Lawrence. Located at 3401 Hutton Dr., the property offers 212 apartment units. The 7-year loan has a 30-year amortization schedule. Brent Blake of NorthMarq arranged the financing for Hutton Farms LC through NorthMarq’s seller-servicer relationship with Freddie Mac.
LAKE IN THE HILLS, ILL. — Agree Realty has purchased a CVS/pharmacy retail property, which is located at the intersection of West Algonquin and Lakewood roads in Lake in the Hills. The property was acquired for approximately $5.8 million. The building is currently net leased to CVS/Caremark Corp., which has 24 years remaining on the base term of the lease.
BELLEVILLE, ILL. — Swansea, Ill.-based Holland Construction Services has completed the first phase of renovations at an Eckert’s Country and Farm location in Belleville. The $5 million renovation included a 22,000-square-foot expansion, which will provide more space for local produce and meat, specialty food and a bakery, and a 1,200-square-foot cooking and workshop classroom. The second phase of construction is currently under way. The second phase includes the renovation and expansion of Eckert’s Country Restaurant, doubling its capacity and adding curbside meal pick-up, the additional parking and a new outdoor plaza space. The Lawrence Group provided architectural services for the project.
KANSAS CITY, MO. — The Weitz Company, serving as general contractor, has completed the first phase of a multi-phase renovation for Two Rivers Behavioral Health Systems, a 105-bed treatment facility in Kansas City. The 49,000-square-foot renovation includes new flooring, millwork, lighting, painting and refinishing. The final phases are scheduled for completion in November. Boca Raton, Fla.-based In-Design provided architectural and design services for the project.
PLEASANT PRAIRIE, WIS. — Rolfs Baking Co. has acquired a 56,642-square-foot industrial manufacturing building, which is located at 10100 88th Ave. within LakeView Corporate Park East in Pleasant Prairie. Built in 1995, the property features men’s and women’s locker rooms, buss ducts and air-lines throughout, and 12,730 square feet of office space. The acquisition was not released, but the property’s asking price was $3.7 million. Theresa Gleason of Paine/Wetzel represented the buyer; Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented the seller, IFA III 88th Avenue LLC, in the transaction.
DUBLIN, OHIO — Cleveland-based Cooper Commercial Investment Group has completed the disposition of Tuttle Crossing, a retail plaza located at 6079 Park Center Circle in Dublin. The 6,145-square-foot property is anchored by Chipotle Mexican Grill, Sprint PCS and GameStop. The fully occupied plaza sold for $2.52 million or $411 per square foot. Additionally, assumable, non-recourse, fully amortizing financing was in place on the property with approximately 9 years remaining at a 5.69 percent interest rate. Dan Cooper of Cooper Commercial represented the Kentucky-based sellers. The property was purchase by a private Ohio-based buyer.
INDIANAPOLIS — Kandu Capital, along with its operating company Bloomfield Senior Living, has purchased two senior-living communities in Indianapolis. The assets include the 56-unit Autumn Glen Assisted Living Community and the 55-unit Autumn Park Assisted Living Community. At the time of acquisition, the 34,000-square-foot Autumn Glen was 99 percent occupied and the 35,000-square-foot Autumn Park was 90 percent occupied. Sunwest Management previously owned the properties. Kandu acquired the properties through a complex bankruptcy 363-sale. Terms of the transaction were not released.