INDIANAPOLIS — ExactTarget has signed a lease for 22,064 square feet of office space at The Century Building, which is located at 36 S. Pennsylvania St. in Indianapolis. Terms of the lease were not released. Jenna Barnett of Halaker Real Estate represented the tenant; Matt Langfeldt and Rich Forslund of NAI Olympia Partners represented the landlord, Blue Real Estate, in the transaction.
MCPHERSON, KAN. — Oklahoma City-based MCPHSN LLC has completed the disposition of Plaza East Shopping Center in McPherson. Located at 2210 E. Kansas Ave., the 72,329-square-foot retail center was purchased by New York-based Cedar Hill Realty LLC for $3.65 million. The property is currently occupied by Hibbett Sports, Orscheln Farm & Home and Hutchinson Community College. Jason Little and Daniel Morris of Canopy Commercial | Auction, along with Gib Kerr of Sperry Van Ness | Gibson Kerr Company, represented the seller; Little also represented the buyer in the transaction. Mary Gardner and Michelle Roberts of Lawyers Title Company's Oklahoma City office provided title and escrow services for the transaction. Acquisition financing was provided by Bryan Geiger of Bank of Oklahoma NA.
WAUKESHA, WIS. — FJF Investments I LLC has acquired a 14,000-square-foot industrial property in Waukesha. The property is situated on 2.65 acres at 1505 Arcadian Ave. Albert Kropp Revocable Trust sold the property for an undisclosed price. Adam Matson of NAI MLG Commercial represented the buyer; Brian Parrish of The Dickman Company/CORFAC International represented the seller in the transaction.
BELLWOOD, ILL. — AGD Limestone and Steel Company has purchased a 40,000-square-foot land parcel in Bellwood. The industrial site is located at 2209 Railroad Ave. The buyer plans to use the site for material storage. Trinity Scurto of Brown Commercial represented the buyer; Daniel Fanelli and Anthony Leeds of Darwin Realty & Development Corp. represented the undisclosed seller in the transaction. The sales price was not released.
ST. LOUIS — St. Louis-based Kwame Building Group has completed the construction of William J. Harrison Northside Education Center for St. Louis Community College in St. Louis. Located in the Jeff-Vander-Lou neighborhood, the $10 million, 31,000-square-foot center opened for classes in August. Designed by KAI, the property is seeking LEED Gold certification as a green building. Green elements include heat pumps in classrooms and offices, controllable lighting, the use of recycled materials, low VOC paint and non-toxic building materials and furnishings.
HOWELL, MICH. — Love Funding has closed on a $3.49 million construction loan for Mallard Pond Apartments II, a luxury multifamily development in Howell. Situated on 3 acres along Highland Road, the project will consist of 48 one-, two- and three-bedroom units featuring hardwood floors, spacious closets, custom woodwork, private entrances, a full-size washer and dryer, a heating/cooling unit and a gourmet kitchen. Additionally, the property share a clubhouse with the 108-unit Mallard Pond Phase I. The clubhouse features a fireplace, a kitchen and a 24-hour fitness center with steam showers and a sauna. The loan was funded through the FHA 221(d)(4) loan program and carries a 5.7 percent interest rate for 40-years with a 40-year amortization schedule. Mickey Rist and Bruce Gerhart of Love Funding originated the transaction. The borrower was not disclosed.
EDWARDSVILLE, MO. — Scott Credit Union has purchased a 15.10-acre land parcel at the southeast corner of Illinois Route 143 and Staunton Road in Edwardsville. Florists’ Mutual Insurance Co. dba Hortica sold the property, which is located within Edwardsville Corporate Centre, for $1.39 million or $2.13 per square foot. BarberMurphy Group represented the buyer; Rudy Stinnett, Paul Nagel and Andrew Bagy of Grubb & Ellis|Gundaker Commercial represented the seller in the transaction.
MINNEAPOLIS — Minnesota-based KleinBank has chosen LFC Group of Companies to auction off its more than 80 REO properties located throughout the Minneapolis and St. Paul metro region. The properties, which range from residential lots in Northfield and Shakopee to large commercial buildings in Minneapolis, have a combined suggested value of more than $10 million. The online auction is believed to be the first of its kind in the Twin Cities area. Assets up for bidding include Washington Place, a large industrial/office warehouse in Minneapolis with a minimum bid of $499,000; a 2,200-square-foot retail/office facility in the Union Park area of St. Paul with a minimum bid of $39,000; 1,536-square-foot office condominiums within North Meadow Office Complex in Chaska; and a historic office building in downtown Shakopee. The online auction is currently under way with a scheduled bid deadline of September 30, 2010.
WEST BEND, WIS. — Lighthouse Acquisitions Group has purchased a 7.68-acre land parcel near the northwest corner of Continental Drive and Corporate Center Drive within the West Bend Corporate Center in West Bend. Beverly West Bend Acquisition LLC sold the property for an undisclosed price. Lighthouse is planning to construct a 150-unit senior-living facility on the site. The $20 million development, which will include a memory care unit as well as independent and assisted living facilities, will be operated by Edina, Minn.-based New Perspective Senior Living. David Buckley of Cassidy Turley Barry brokered the transaction. Terms of the deal were not released.
WEST BEND, WIS. — Koness Properties LLC has acquired a 105,024-square-foot industrial property in West Bend. Milliken Enterprises-Wisconsin LLC sold the property, which is located at 529 N. River Rd., for an undisclosed price. Brian Parrish of The Dickman Company Inc./CORFAC International represented the buyer; Kevin Barry and David Buckley of Cassidy Turley Barry represented the seller in the transaction.