CARBONDALE, KAN. — A Colorado-based investor has purchased a 9,014-square-foot retail property, which is located in Carbondale. The single-tenant property is net-leased to Dollar General. A Kansas-based developer sold the property for $837,500 at a 9.02 percent cap rate. Ben Sgambati, Michael Lombardi and Adam Christofferson represented the seller; Sgambati and Lombardi also represented the buyer in the transaction.
GARY, INDIANA — The Gary Housing Authority (GHA) has selected The Habitat Company to manage construction services for three housing developments operated in Gary. GHA is investing more than $5.8 million in HUD funds to rehabilitate units within the Dorie Marie, East Point and Ivanhoe Garden developments. The project involves renovating 92 units in the Dorie Marie and East Point properties, and demolishing 316 units in the 104-building Ivanhoe Garden property. The HUD funding was received as part of the federal stimulus program.
HARTLAND, WIS. — HM Investment Partners LLC has acquired a 44,860-square-foot industrial property in Hartland. The property, which is located at 581 S. Industrial Dr., sold for an undisclosed price. Stephen Provancher of NAI MLG Commercial represented the seller, DRE Investments LLC, in the transaction.
ST. CHARLES AND CHICAGO, ILL. — Titan Commercial, an affiliate of Magellan Development Group, has completed two lease transactions totaling $2.17 million in Illinois. In the first transaction, CPD Feather Rock purchased a 4,083-square-foot building, located at 2710 E. Main St. in St. Charles, for $1.96 million. T-Mobile and Qdoba currently occupy the two-unit retail property. The sellers were Shiner Group and Hilco Real Estate. Ben Rosenfield of Titan Commercial represented the buyer. In the second transaction, Avenir Publishing signed a lease for 3,941 square feet of space at 180 N. Wabash in Chicago. The landlord is Marc Realty. Rosenfield represented Avenir in the transaction. Additional terms of the transaction were not released.
KANSAS CITY, KAN. — Savant Corp. has acquired a 29,000-square-foot industrial property in Kansas City. Arnold-Newbanks sold the property, which is located at 2820-A Roe Lane, for an undisclosed price. Pat Murfey of Grindstone Industrial Properties negotiated the transaction.
RACINE, WIS. — Leonard Investments LLC has purchased an industrial property, which is located at 2301 S. Memorial Drive in Racine. R&D Terminals sold the 13,000-square-foot property for an undisclosed price. Brian Parrish of The Dickman Company/CORFAC International brokered the transaction.
HASTINGS, NEB. — NorthMarq Capital has arranged a $6.5 million first mortgage loan on behalf of College View Assisted Living LLC for College View in Hastings. The assisted-living facility offers 58 residential units. Financing was based on a 35-year term with a 35-year amortization schedule. Gary Rifkin of NorthMarq arranged the loan through the company’s relationship with Johnson Capital FHA.
CRESTWOOD, ILL. — Burlington, N.J.-based Burlington Coat Factory has signed a lease to occupy 70,000 square feet of space at the corner of Cicero Avenue and Calumet Sag Road in Crestwood. The new store is expected to open in August and will co-anchor Mid-America Asset Management’s 175,427-square-foot retail center at the site. Mary Beth Menelli and Richard Spinell provided in-house representation for Mid-America; Brad Gershman of Gershman, Brown & Crowley represented the tenant in the transaction. Terms of the lease were not released.
LEMAY, MO. — Yates/Paric has completed the construction of River City Casino, a $375 million casino project located in Lemay. Situated along the Mississippi River, the 90,000-square-foot casino offers more than 2,000 slot machines, approximately 55 table games, a restaurant, food service areas and entertainment venues. The project is owned and developed by Pinnacle Entertainment. Yates/Paric is a joint venture between Philadelphia-based W.G. Yates & Sons Construction Co. and St. Louis-based Paric Corp.
CHICAGO — McShane Construction Co. is nearing the completion of Casa Maravilla, a five-story, 70,000-square-foot senior-living project in the Pilsen neighborhood of Chicago. Located at 2021 S. Morgan St., the 73-unit complex will offer studio, one- and two-bedroom affordable rental units, a dining area, a community room, a therapy room, a library and a recreation room. Weese Langley Weese provided architectural services for the project, which is slated for completion in June. The Resurrection Project is developing the property.