INDIANAPOLIS — Anytime Fitness has signed a lease to open a new location in downtown Indianapolis. Located within the Majestic Building at the corner of Maryland and Pennsylvania streets, the 2,000-square-foot exercise facility is slated to open in mid-February. Anytime Fitness is collaborating with Keystone Group to develop the property.
ST. CHARLES, ILL. — Shars Tool Co. has purchased a 23,000-square-foot industrial facility at 840 Equity Drive within Legacy Business Center in St. Charles. The property was developed and built by Paul Hemmer Cos. The facility features 24-foot clear ceiling heights, two exterior docks, one grade-level door and 2,378 square feet of office space. The buyer plans to use the facility for the distribution and warehousing of wholesale industrial equipment and tools. Noel Liston and Cory Ramey of Darwin Realty & Development Corp. represented the buyer; Brian Kling of Colliers, Bennett & Kahnweiler represented the property. The acquisition price was not disclosed.
MINNEAPOLIS — Minneapolis-based NorthMarq’s Advisory Services Group has completed a lease in Minneapolis. W.I.S.E. Charter School has signed a lease for Franklin School, a 125,794-square-foot facility located at 1501 Aldrich Ave. in Minneapolis. NorthMarq’s Paul Donovan, Kevin Peck and Jaclyn May represented the landlord, Minneapolis Public Schools, in the transaction. Details of the lease were not released.
CLEVELAND — Cleveland-based Bellwether Real Estate Capital has received approval to join the Freddie Mac Multifamily Program Plus Seller/Servicer roster. The company now has the ability to sell and service loans secured by multifamily properties in Ohio, Kentucky and Western Pennsylvania.
AURORA, ILL. — Phillips Edison & Co.’s Fund IV has acquired Prairie Point, a 93,000-square-foot shopping center located in Aurora. The purchase price of the all-cash transaction was not disclosed. Located at the corner of Eola Road and East New York Street, the property is anchored by Dominick’s Finer Foods, a Chicago-based supermarket chain that is part of Safeway Inc. Prairie Point is the company’s first acquisition in the Greater Chicago area and the seventh property in the $300 million Phillips Edison Opportunity Fund IV portfolio. Additional terms of the transaction were not released.
SPRINGFIELD, ILL. — McCormick Mortgage Co. has arranged development financing for the first phase of Legacy Pointe Town Center, a 277-acre mixed-use development in Springfield. The $34 million loan includes loans for the infrastructure of the first phase and construction loans for Scheels Superstore. The center will be anchored by a 203,000-square-foot Scheels Superstore, which is slated to open in July 2011. The two-story store will feature a 16,000-gallon aquarium, a 65-foot Eli Bridge Ferris Wheel, a three-car NASCAR simulator, a shooting gallery, four larger than life-size bronze sculptures, four life-size bronze statues, a Walk of Presidents with life-size statues of former Presidents. Additional details of the loans, which were provided by a consortium of banks, were not disclosed.
ST. CHARLES AND SOUTH ELGIN, ILL. — An Arizona-based institutional investor has purchased two retail properties in St. Charles and South Elgin for $8.5 million. Both properties offer 14,490 square feet and are fully occupied by Walgreens. Gill Warner of Stan Johnson Co. represented the buyer and the seller, an Illinois-based retail developer, in the transaction.
OXFORD, MICH. — Mandy LLC has acquired 20,000 square feet on 3.5 acres of commercial space located at 43 E. Burdick in Oxford. Hi-Hill Lawn Service will occupy the space. James Lumber Co. sold the property for an undisclosed price. Larry Schultz of Friedman Real Estate Group represented the buyer in the transaction.
EARTH CITY, MO. — Exclusive Events has signed a lease for 21,535 square feet of office/warehouse space at 13609-13633 Lakefront Drive in Earth City. The tenant will use the space as an office, storage and assembly facility for its event design and production company. John Sheahan of NAI DESCO represented the tenant in the transaction. Terms of the lease were not disclosed.
CHICAGO — Cohen Financial has secured $4.5 million in combined small business administration (SBA) 504 and conventional bank acquisition financing for an office/retail location in Chicago. Located at 821 W. Eastman, the 23,000-square-foot property is occupied by Pump It Up, Tomato Head Pizza and the Chalk Preschool. Michael Grant of Cohen Financial secured the 20-year, SBA 504 loan and the 10-year bank loan. The borrower is the owner of Pump It Up.