ST. JOSEPH, MO. — Kansas City, Mo.-based Grubb & Ellis | The Winbury Group has arranged the sale of a 141,286-square-foot industrial property, located at 2315 SW Lower Lake Rd. in St. Joseph. Douglas Hedrick and John Delzer of Grubb & Ellis represented the seller, Smurfit-Stone Container Enterprise. Adam Stein of Prudential Summers represented the buyer, STJOMO Properties. The acquisition price was not disclosed.
BELLEVILLE, ILL. — Fairview Heights, Ill.-based IMPACT Strategies has broken ground for the construction of a 36,650-square-foot office/warehouse facility, located in Belleville. The $2.25 million project will be built within Belle Valley Business Park; it will be situated on the last available land parcel in the park’s third addition. Slated for completion in December, the flex building will be occupied by Power Maintenance & Construction, which will be relocating from its existing Belleville facility. The project architect is Gray Design Group.
KANSAS CITY, MO. — Three of the principals of Block & Company, Inc., Realtors have spun off a new company. Named Block Real Estate Services LLC, the new company will be headed up by brothers Kenneth, Stephen and Michael Block. The full-service firm will continue to provide commercial brokerage, development, asset management, investment and financial services in all sectors of commercial real estate. Its headquarters will remain at the Plaza Steppes Building, located at 700 W. 47th St. in Kansas City. Block & Company, Inc., Realtors will continue to provide brokerage and development services specific to the retail sector.
DANVILLE, ILL. — UGL Equis has completed a lease for 50,000 square feet of warehouse space at 1801 E. Voorhees St. in Danville. Locally based Dawson Logistics will be consolidating its Hoopeston, Ill., operations into the new space. Dawson will share space within the 344,900-square-foot building with one of its clients, Owens Corning. The facility features rail access, 24- to 36-foot clear ceiling heights, overhead cranes and 19 exterior docks. Michael Cook of UGL Equis represented the tenant in lease negotiations. The landlord, Pinnacle Properties, utilized in-house representation.
FISHERS, IND. — Developer J.C. Hart Co. recently acquired 13 acres within Republic Development’s 725-acre Saxony mixed-use community in Hamilton County with plans to develop a 269-unit apartment complex. The District at Saxony luxury apartment project, which is being developed adjacent to a 20-acre lake at 131st Street, just south of Interstate 69, will feature units ranging in price from $675 to $1,425 per month. J.C. Hart Co. expects construction to take approximately 2 years. Saxony is a expansive mixed-use endeavor that will encompass 1 million square feet or retail, 3.5 million square feet of office and light industrial space, and approximately 1,300 residential units upon full build out.
LAKE ZURICH, ILL. — Sue Blumberg of NorthMarq Capital’s Chicago office has arranged approximately $15.3 million in first-mortgage financing for Landings of Lake Zurich, a 206-unit multifamily community located in Lake Zurich. The borrower, Landings Capital Partners, secured the financing with 10-year term and 30-year amortization schedule. Funding was provided through Amerisphere through Fannie Mae.
WICHITA, KAN. — Bradley Tidemann of J.P. Weigand & Sons, on behalf of the unnamed landlord, has secured a lease for 36,000 square feet within a newly constructed, 143,000-square-foot warehouse located at the corner of Custer Avenue and Pawnee Street in Wichita. Siding distributor Alside Supply will be the first tenant within the modern warehouse facility, after signing a 5-year lease.
CHICAGO — Essex Realty Group has brokered the sale of a 28-unit walk-up apartment building located at 1456-1458 W. Thorndale Ave. in Chicago. Matt Welke of Essex negotiated the transaction for both parties, with Mike Tetrick, also of Essex, providing additional services for the undisclosed buyer. The property, which features 21 studios and seven one-bedroom units, traded for approximately $1.36 million.
WESTVILLE, ILL. — Marcus & Millichap has arranged the sale of an 8,540-square-foot CVS/pharmacy situated in western Illinois for $950,000. The single-tenant, net-leased property, which is located at 111 N. State St. in Westville, has strong store sales and approximately 6 years remaining on a 20-year lease. Christopher Thomson, based in Marcus & Millichap’s Columbus, Ohio, office listed the property on behalf of the seller, a private investor. The firm’s John Przybyla assisted in the closing of the transaction.
FORT ATKINSON, WIS., AND COLUMBUS, OHIO — Anheuser-Busch InBev (InBev) has agreed to sell four of its manufacturing plants to Ball Corp. for $577 million. The facilities are controlled by Metal Container Corp., InBev’s U.S. metal packaging subsidiary, and are used to produce cans and lids for soft drink production. The facilities include two can plants located in Fort Atkinson and Columbus, as well as a can plant located in Rome, Ga., and a lid plant located in Gainesville, Fla. As part of the agreement, Ball Corp. will continue to supply InBev with cans and lids from the divested plants. The transaction is expected to close by the end of the year or in the first quarter of 2010. Deutsche Bank AG and Lazard Frères & Co. are serving as financial advisors Sullivan & Cromwell is serving as legal counsel on behalf of InBev.