CHICAGO — CB Richard Ellis (CBRE) has brokered the sale of three land parcels located at 5345, 5515 and 5555 W. Irving Park Rd. in Chicago. The parcels total 78,931 square feet and also contain a 24,377-square-foot building. Keely Polczynski of CBRE represented the undisclosed owner. Car dealership Perillo BMW acquired the parcels for an undisclosed amount.
Midwest
SCHAUMBURG AND ROCKFORD, ILL. — Grubb & Ellis has represented Financial Management Systems (FMS) in the leasing of two Chicagoland office spaces. The first lease is for approximately 24,000 square feet of space at 1000 E. Woodfield Rd. in Schaumburg. This lease represents a renewal and expansion of the company’s headquarters. The second lease is for 27,000 square feet of space at 4021 Morsay Dr. in Rockford, a new location for the company. Craig Cassell of Grubb & Ellis represented FMS in both transactions.
CINCINNATI AND INDIANAPOLIS — Two Midwest offices of Colliers Turley Martin Tucker (CTMT) have completed an office and a retail sale. First, CTMT’s Cincinnati office brokered the sale of a 105,000-square-foot office building, located at 444 Third St. in Cincinnati, for $17 million. CTMT’s Mike Hartmann and Robert Ryan represented the seller Dunnhumby USA. The buyer was Al. Neyer Inc. In addition, CTMT’s Indianapolis office brokered the sale of Pike Plaza, a 198,558-square-foot community shopping center located on Lafayette Road in Indianapolis. CTMT’s Rebecca Wells and Bill French represented the seller, Capmark. The undisclosed buyer plans to reposition the property to Class A status. The acquisition price was not disclosed.
CENTRALIA, ILL. — Swansea, Ill.-based The BARBERMurphy Group has brokered the sale of a 434,000-square-foot industrial building located at 2400 S. Wabash Ave. in Centralia. The buyer was Compliance Coals dba American Equipment & Machine, which is a division of Murray Energy Corp. The seller was AS & AG Enterprises. BARBERMurphy represented both parties in the transaction. The acquisition price was not disclosed.
CHICAGO — CB Richard Ellis (CBRE) has completed a lease for a 44,000-square-foot warehouse located in Chicago. Constructed in 1991, the facility is located at 5565 N. Lynch Ave. It features 18-foot clear ceiling heights, three interior loading docks, two drive-in doors and 52 car parking spaces. The tenant, Cuyahoga Falls, Ohio-based Alside Windows & Doors, will occupy the building for a 5-year term. Alside was represented by Jeff Heymann of Colliers Bennett & Kahnweiler and Brian Borkan of BKB Commercial. CBRE’s Brad Weiner and Mitch Adams represented the undisclosed landlord.
CHICAGO — Retailers Marshalls and Dollar Tree have opened new locations at Marshfield Plaza, a 454,000-square-foot regional shopping center located on Chicago’s South Side. Marshalls will occupy a 26,000-square-foot space and Dollar Tree will lease 10,400 square feet. The two retailers join a tenant roster that includes Target, Jewel-Osco, LA Fitness, Staples and Petco. Other tenants expected to open through the end of the year include Chili’s Grill & Bar, Simply Fashion and City Sports. Situated at the interchange of Interstate 57 and 119th Street, Marshfield Plaza is owned by Beverly Hills, Calif.-based Primestor Development.
EFFINGHAM, ILL. — NAI Global has arranged a lease renewal on behalf of Sherwin-Williams for its 1.22 million-square-foot regional distribution center in Effingham. The three-building complex is located at 711 W. Wabash Ave. The lease transaction was valued at more than $20 million, and it includes tenant improvement funds and economic incentives. Thomas Lynn of Dallas-based NAI Robert Lynn and David Branding of St. Louis-based NAI DESCO represented Sherwin-Williams in lease negotiations. The landlord is a private, out-of-state investor.
LAKE ELMO, MINN. — Minneapolis-based NorthMarq Investment Services has completed the sale of Eagle Point Office Center II, a Class A office building located in Lake Elmo. Situated within the 120-acre Eagle Point Business Park, Eagle Point Office Center comprises a single-story, 30,000-square-foot office building. It is fully leased to a tenant roster that includes Rasmussen College and Foth Engineering. NorthMarq’s Scott Pollock, Pete Rand and Evan Richardson represented the seller, United Properties. The buyer was Minneapolis-based Blackhawk Investment Group.
BURLINGTON, KY. — The Cincinnati office of Colliers Turley Martin Tucker (CTMT) has brokered the $1.5 million sale of a 131-acre land parcel located at the intersection of Limaburg Road and Lakeland Park Drive in Burlington. The site, which is near Cincinnati/Northern Kentucky International Airport, will be the future home of Lakeland Business Park. Jeff Bender of CTMT represented the seller, Lakeland Real Estate LLC. The buyer was Lakeland Farms LLC.
CHICAGO — Chicago-based Meridian Capital Group has arranged a $1.3 million loan for two Chicago multifamily properties. The properties total 21 units and are located at 4232 N. Kevdale Ave. and 3134 W. Leland Ave. on Chicago’s North Side. The financing includes a 5.51 percent interest rate and a 3-year term. It was arranged by Gershon Friedman of Meridian on behalf of the undisclosed borrower.