RICHFIELD, OHIO — Cuyahoga Falls, Ohio-based Carrara Cos. has acquired a 15,134-square-foot office and warehouse property in Richfield. Situated on 10.44 acres at 3774 Congress Parkway, the property sold for $735,000. William Nice and John Chaluda of Cleveland-based The Chartwell Group represented the buyer; Jennifer Fernandez of NAI Cummins Real Estate represented the seller, Akron, Ohio-based The Macomb Group, in the transaction.
CHICAGO — Meridian Capital Group has secured $3.5 million in financing to refinance three properties in Chicago. The properties include a nine-unit multifamily building located on North Clark Street in Chicago’s Lakeview neighborhood and two properties featuring a total of 11 apartments and two retail spaces on Division Street in the Wicker Park neighborhood. Provided by Northern Trust, the three 5-year loans feature rates of 5.75 percent and amortize on a 25-year schedule. Gershon Friedman of Meridian Capital originated the loans.
MADISON, WIS. — US Oil Co. has leased 121,000 square feet of warehouse/distribution space in Madison. Located at 4722 Helgesen Drive, the upgraded and renovated high-bay warehouse offers easy access to the Beltline Highway and 90 and 94 interstates. Chase Brieman of CB Richard Ellis represented the lessor, True North Investments, in the transaction. Terms of the lease were not released.
CREST HILL, ILL. — Gershon Friedman of Meridian Capital Group secured a $1.3 million loan to refinance Cedar Green Apartments in Crest Hill. The multifamily property features 36 units. The 10-year loan has a 30-year amortization schedule and carries a 6.06 percent rate. Centerline Capital Group financed the loan.
NORTHFIELD, MINN. — Dominium Development and Acquisition has acquired Jefferson Square Townhomes in Northfield. The 50-unit affordable housing complex sold for an undisclosed price. Dominium has a $3.2 million renovation planned for the project, including new roofing, siding, apartment upgrades, parking lot improvements, site landscaping and the construction of a new community building. Jefferson Square is the 94th property acquired in Minnesota by Dominium since its founding in 1972. Additional terms of transaction were not released.
ST. LOUIS — Gary Parker, Dan Merlo and Dan Dokovic have formed Principal Commercial Real Estate. The client-focused, full service real estate company is located in St. Louis. The firm will offer customizable comprehensive real estate consulting. Parker is responsible for overseeing all leasing, sales, investment and brokerage activities. Dokovic is responsible for daily operations of marketing, information technology, communications and research. Merlo oversees the company’s business units and supports the corporation’s service and principal activities.
SCHAUMBURG, ILL. — An undisclosed buyer has purchased Willow Lake Tech Center, a multi-unit flex office/industrial property located in Schaumburg. Situated on 6.75 acres at 400 E. State Parkway, the 104,191-square-foot property sold for $6.6 million. John Abuja and Nicholas Kinney of Marcus & Millichap secured and represented the buyer; Abuja also represented the seller, a limited liability company. The buyer obtained 5-year financing on the asset.
LANCASTER, OHIO — Dallas-based Realty Capital Partners (RCP), on behalf of its RCP River View MOB Ltd. entity, has acquired River View Medical Center, a medical office building located at 2405 N. Columbus St. in Lancaster. The 75,000-square-foot property is currently 100 percent occupied. RCP partnered with affiliates of Equity Inc. to acquire the property in a $2.2 million off-market transaction. Additional terms of the transaction were not released.
GREENWOOD, IND. — Tikijian Associates has completed the sale of Friendly Village, a more than 500 lot mobile home community in Greenwood. Illinois-based Indy Mobile acquired the property for an undisclosed price. The buyer has numerous capital improvement projects planned for the property, which is its first acquisition in the Indianapolis market. Tikijian represented the court-appointed receiver, McKinley, and special servicer, LNR Partners, in the transaction.
CHICAGO — Law firm Olgetree, Deakins, Nash, Smoak & Stewart P.C. has selected McShane Construction Co. to complete its 15,300-square-foot, tenant improvement project in Chicago. The Chicago-based law firm is relocating to 155 North Wacker Drive from 20 South Clark Street. The project includes the construction of 36 private offices, 12 soft offices, three conference rooms, an extensive law library and a kitchen/breakroom. McShane is using high-end finishes, including millwork, fabric paneling and motorized sunshades, for the project. ASD Architects is providing architectural services for the project, which is scheduled for completion in September.