KALAMAZOO, MICH. — InterContinental Hotels Group (IHG) has opened its 250th Candlewood Suites hotel. Located in Kalamazoo, the 95-suite hotel features an expanded lobby area with multiple seating areas and a 42-inch flat-screen television; complimentary high-speed Internet access; free local phone calls; free on-site guest laundry; and a 24-hour fitness center. Comstock Hospitality owns and manages the hotel, which is located at 3443 Retail Place Dr., under a license agreement with a company in IHG.
PLATTEVILLE, WIS. — Lee & Associates has brokered the sale of 1.04 acres of land in Platteville. Located at 1520 U.S. Highway 151, the property sold to an undisclosed buyer. Lee & Associates’ Steve Doran represented the buyer; Randy Whitson and John Walsh, also of Lee & Associates, represented the seller in the transaction. The seller and acquisition price were not released.
ADDISON, ILL. — Ferguson Enterprises has leased 149,522 square feet of flex space at 880 S. Rohlwing Rd. in Addison. The wholesale plumbing supplier plans to take occupancy in January and utilize the property for a sales counter, warehousing and administrative offices. The company will share the 453,100-square-foot building with Brook Electric, a division of Sonopar. Justin Lerner and David Friedland of Newmark Knight Frank Epic, along with John Cash, David Haigh and Irv Malik of NAI Hiffman, represented Ferguson; Jeff Lanaghan provided in-house representation for the ownership, IDI. Terms of the lease were not disclosed.
ELYRIA, OHIO — Centro Properties Group has leased 9,900 square feet of space to No. 1 Buffet Chinese Restaurant. The property is located at the corner of West River Road North and Midway Boulevard within Midway Crossing in Elyria. Avi Abroms provided in-house representation for Centro Properties Group, which owns the property. Terms of the lease were not released.
FLINT, MICH. — Farmington Hills, Mich.-based Agree Realty Corp. has received $11.4 million in financing. The financing consists of three non-recourse, self-amortizing notes, which each carry a fixed rate of 6.27 percent, that mature in July 2026. The loans were secured by mortgages on three of the company’s retail properties located in Flint. Agree Realty owns, manages and develops retail properties. The company currently owns and operates a portfolio of 72 properties, which offer a total of 3.5 million square feet of gross leasable space.
DAYTON, OHIO — Logan’s Roadhouse Restaurant has signed a lease for 6,500 square feet of space at South Towne Centre, which is located on Miamisburg-Centerville Road in Dayton. David Kozar of Indus Cos. represented the tenant; Elizabeth Houser provided in-house representation for the landlord, Centro Properties Group, in the transaction. Additional terms of the lease were not disclosed.
MADISON, WIS. — American Academy of Cosmetic Dentistry has acquired a 17,700-square-foot office property in Madison. Located at 402 W. Wilson St., the property sold for $2.2 million. Todd Waller of Lee & Associates represented the buyer. The seller was not released.
CHICAGO — Michael Brennan, former president and CEO of First Industrial Realty Trust, has formed Brennan Investment Group, a privately held industrial real estate investment firm in Chicago. The firm will acquire, develop and operate industrial properties in select major metropolitan markets throughout the United States. The co-founders and managing principals are Peter Murphy, who is responsible for transactions in the Eastern United States; Kareem Fikri, who focuses on the Midwestern United States; Robert Krueger, who is responsible for Central Florida; Britten Shuford, who will focus on the Western United States; and Kevin Smith, who focuses on Indianapolis; Cleveland, Cincinnati and Columbus, Ohio; and Nashville and Memphis, Tenn.
KANSAS CITY, MO. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has arranged a $4.9 million loan for the 217-unit Sterling Court Apartments in Kansas City. The 10-year loan, which carries a note rate of 5.9 percent, has a 26-year amortization schedule. The loan was provided under the Fannie Mae DUS Loan product line. Ronen Abergel of Arbor originated the financing.
TROY, MICH. — Echo Global Logistics has leased 10,000 square feet of office space at 3331 W. Big Beaver Rd. in Troy for an undisclosed price. The company is a provider of technology enabled business process outsourcing. Steve Eisenshtadt of Friedman Real Estate Group represented the tenant. The landlord was Troy Place II Associates.