CANTON, OHIO — NAI Cummins has arranged a lease for 47,260 square feet of industrial space, located at Prospect Business Center in Canton. NAI’s Bob Raskow, Harry Stewart and Tom Franjesh represented the landlord, Canton Ashcroft. The tenant, Profile Plastics, was represented by Don Bester of Tom Jackson Realty. The tenant is expanding from its previous location in Hartville, Ohio, and should be moved in by the end of the summer.
ST. LOUIS – Paric Corp. is advancing renovations for a $6.9 million multi-use project located at 1818 Washington Ave. in St. Louis. The two-story, 59,000-square-foot building will include 39 loft-style apartments and 9,000 square feet of ground-floor retail space. Paric is also repairing and replacing the façade, windows and storefronts, as well as adding new sidewalks, landscaping and pedestrian lighting. The owner is 1818 Washington Development LP, a partnership of local developers.
CHICAGO – Essex Realty Group has brokered the sale of two 25-unit courtyard apartment buildings for approximately $6.24 million in Chicago. Located at 622 West Stratford and 629 West Cornelia in the city’s Lakeview neighborhood, the properties contain a total of 38 one-bedroom units and 12 two-bedroom units. Doug Imber and Mike Tetrick of Essex represented the seller; Imber also represented the buyer in the transaction.
MILWAUKEE — Milwaukee-based NAI MLG Commercial has completed four Wisconsin industrial sales. In the first transaction, David Stock sold a 12,000-square-foot property, located at 3206 Menasha Ave. in Manitowoc, to Factory Ride Off Road. NAI’s Brett Garceau and Curt Pitzen represented both parties. In Delafield, Creekside Builders sold a 11,490-square-foot property, located at 350 Austin Circle, to 5 Alarm Fire & Safety Equipment. NAI’s Stephen Provancher represented both parties. In Fond du Lac, K&S Acquisitions sold a 9,216-square-foot property, located at 62 N. Meadows Dr., to FQ Wholesale. NAI’s Ross Fuller represented the seller. Finally, Claudia and David Gehl sold a 6,400-square-foot property, located at 8634 W. Kaul Ave. in Milwaukee, to Four-Way LLC. Pitzen and Collin Schaible, also of NAI, represented both parties. The acquisition prices were not disclosed.
MILWAUKEE — The dedication has been held for a new urban park at The Brewery, local developer Joseph Zilber’s redevelopment of Milwaukee’s historic Pabst Brewery. The park is the first park designed specifically for an industrial neighborhood in the city. It will feature a 7-foot tall bronze statue of Joseph and Vera Zilber. Other features include a Gabion wall made of recycled steel; fractured granite boulders and crushed granite walking surfaces; and water and lighting fixtures that create a waterfall in the summer and an ice sculpture in the winter. A stormwater retention basin is located underneath the park, which was designed by landscape architecture firm D.I.R.T. studio.
BUTLER, WIS. — Milwaukee-based Colliers Barry has completed a 12,800-square-foot industrial lease at Lafayette Business Center on behalf of Wisconsin Compressed Air Corp. (WCAC). The tenant will be relocating its existing Milwaukee location to the building, which is located at 12855 W. Silver Springs Dr. in Butler. WCAC also maintains locations in Madison and Green Bay, Wis. Kevin Barry of Colliers Barry arranged the transaction between WCAC and the landlord, Lafayette Building LLC. This most recent lease brings the 94,000-square-foot building to full occupancy.
INDIANAPOLIS — Locally based Tikijian Associates has arranged the sale of the 360-unit Somerset Lakes Apartments on behalf of the seller, Aimco. Gene B. Glick Co. acquired the waterfront apartment community, which is located along an 80-acre lake across from the Keystone Crossing mixed-use complex in Indianapolis, for an undisclosed sum. The average unit size with Somerset Lakes is approximately 1,400 square feet.
KANSAS CITY, MO. — Hunt Midwest Enterprises has sold land within its Hunt Midwest Commerce Center in Kansas City to two area companies for the development of build-to-suit industrial space. Inland Truck Parts recently completed and opened a 65,000-square-foot service center on 8.23 acres at 8801 Parvin Rd. The truck part manufacturer has relocated from an older facility in Kansas City’s urban core. Zipco Contracting, a general contractor, has opened a new 13,000-square-foot facility on 2 acres at 4110 N. Corrington within Hunt Midwest Commerce Center.
COPLEY TOWNSHIP, OHIO — Stamford, Conn.-based Alliant Capital has secured $8.5 million in refinancing for Hunt Club Apartments, a 260-unit market-rate apartment community in Copley Township. The garden-style complex features one and two-bedroom units, and is 91 percent occupied. The borrower was a group of area commercial real estate professionals. John Marr of Alliant Capital originated the transaction.
MINNEAPOLIS — NorthMarq has completed a retail sale and industrial lease in the Twin Cities. Ronn Thomas and Jen Help of NorthMarq represented The Avalon Group in the sale of a 34,000-square-foot retail outlot at the TimberCrest shopping center in Lakeville. The land parcel was acquired by Lakeville Orthodontic Associates, which was represented by Brandon Megal of CB Richard Ellis The NorthMarq industrial leasing team of Dan Lofgren and Chris Garcia has represented CarTika Medical in leasing 26,073 square feet of industrial space within Wedgewood Commerce Center II in Maple Grove. The building owner, Wedgewood PT Associates, was represented by Barry Birnberg of Grubb & Ellis/Northco Real Estate Services.