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.
AUBURN HILLS, MICH. — Thomas M. Cooley Law School has completed the development of a 136,000-square-foot complex located on the school’s 67-acre campus in Auburn Hills. The complex will be the first LEED certified law school in Michigan. The project included the renovation of an existing 68,000-square-foot corporate training facility and a 68,000-square-foot new addition. The complex features wireless Internet access, two computer labs, a fully functional courtroom, a law library, a bookstore with Internet café and classrooms equipped with videoconferencing and digital-sound recording systems. Berkley, Mich.-based SHW Group designed the project; Grand Rapids, Mich.-based Rockford Construction served as general contractor.
EAST LANSING, MICH. — Chicago-based Best Food Services Inc. has acquired a 50,486-square-foot industrial building, which is located at 5615 Enterprise Dr. within Midwest Industrial Park in East Lansing. The buyer, an Asian restaurant food and supply distributor, plans to use the warehouse/distribution facility to serve its Michigan clients. Blair Moore of CB Richard Ellis|Martin represented the buyer, Kuang M. Kwok of Best Food Services; Van Martin, also of CBRE|Martin, represented the seller, GTB Properties, in the transaction. The acquisition price was not disclosed.
KANSAS CITY, MO. — Murphy Tractor & Equipment Company Inc. has purchased 9.5 acres of land at the Hunt Midwest Business Center in Kansas City. The Wichita, Kan.-based company plans to build a 43,000-square-foot sales and service center on the site on NE Parvin Road. Hunt Midwest Business Center is located in a 2,500-acre commercial/industrial development, and is adjacent to Hunt Midwest SubTropolis.
DOWNERS GROVE, ILL. — McShane Construction Co. has completed the development of The Residences at the Grove, a 294-unit luxury multifamily community located at the intersection of Interstate 355 and Butterfield Road in Downers Grove. The 433,932-square-foot property was developed by M&R Development. The property consists of three eight-story apartment buildings featuring 270 residential units and 24 townhomes. The community also features a clubhouse with a reception area, a business center, a kitchen, a fitness center and an outdoor swimming pool. Cordogan Clark & Associates provided architectural services for the project.
MASON, OHIO — Rhinestahl Corp., dba Mason Imagination, has acquired a 119,250-square-foot industrial building, which is located at 7687 Innovation Way in Mason. The buyer plans to relocate its operations from Blue Ash, Ohio, to Mason later this year. Chuck Ackerman and Bill Keefer of Grubb & Ellis|West Shell Commercial represented the buyer; Si Pitstick and Josh Young of Cincinnati Commercial Realtors, a member of the Cushman & Wakefield alliance, represented the seller, Werthbaier Properties, in the transaction. The acquisition price was not disclosed.
LIVONIA, MICH. — Livonia Phoenix LLC, an entity consisting of Grand/Sakwa Properties, Lormax Stern Development and Konover South, is developing Livonia Marketplace, a new 40-acre retail center located at the corner of 7 Mile Road and Middlebelt in Livonia. The Wal-Mart Supercenter-anchored center will offer 325,000 square feet of retail space. Groundbreaking is scheduled for late August, with completion expected within 12 to 18 months.
CINCINNATI — Cincinnati-based Al. Neyer Inc. and an entity affiliated with Dayton, Ohio-based Dayton Hydraulic Company have completed the disposition of The Office at 444 West Third Street in downtown Cincinnati. The three-story, 150,000-square-foot property sold to dunnhumbyUSA for $17 million. The buyer currently is the building’s principal lessee. Mike Hartmann of Colliers Turley Martin Tucker represented the buyer in the lease and acquisition.