OMAHA, NEB. — Investors Realty has brokered the sale of the Candlewood Hills retail center in Omaha for $4.7 million. Located at 12424 W. Dodge Road, the property totals 11,700 square feet and is situated near a Costco store. Ember Grummons of Investors Realty represented the seller, Royce Candlewood WR LLC. Tim Kerrigan and Grant Kobes of Investors Realty represented the local buyer.
CAROL STREAM, ILL. — SVN Chicago Commercial has arranged the $1.4 million sale of a 34,536-square-foot office building in the Chicago suburb of Carol Stream. The Class C, multi-tenant property is located at 455 Kehoe Blvd. Jennifer Hopkins, Olivia Czyzynski and Caitlin Crawford of SVN represented the buyer, an out-of-state investment group that plans to lease the suites out as office and flex spaces.
BIRMINGHAM, MICH. — Mid-States Advisors Inc. has signed a five-year lease to open an office at 260 E. Brown St. in downtown Birmingham. Detroit-based Broder Sachse Real Estate owns the property. The tenant is a family-owned boutique financial and business advisory firm specializing in assisting middle-market businesses with mergers and acquisitions, debt placement and fractional CFO services.
FISHERS, IND. — Developer Bradford Allen and Clark Construction Group have topped out the new headquarters for Andretti Global in the Indianapolis suburb of Fishers. The nearly 400,000-square-foot facility, part of a larger 90-acre campus, more than quadruples the size of Andretti’s current headquarters. In addition to housing day-to-day operations for the auto racing team, the building will be home to the advanced research and development of Andretti Technologies. The facility is slated to include a fitness center, walking trails, amphitheaters, employee gathering areas and dining options. The development will continue through a phased approach. The design team included U.K-based motorsport design consultants Ridge and Partners and Indianapolis-based international design firm RATIO. Michael Andretti, son of racing legend Mario Andretti, launched Andretti Global in the early 2000s.
LOWELL, IND. — John Deere has purchased 234 acres of land in Lowell, a city in northwest Indiana, for $7 million. The company plans to build a 1.2 million-square-foot warehouse and distribution facility. Nancy Frigo and Nicholas Smith of Coldwell Banker Commercial Realty represented the seller, Hallmark Construction Co. Venture One will serve as the developer for the project, which is expected to create approximately 1,200 union construction jobs and 400 to 500 permanent positions upon completion. The project site, located at the southwest corner of I-65 South and Route 2, has gas, sewer and water availability.
PONTIAC, MICH. — The Jonna Group of Colliers Detroit has arranged the sale of a 92,509-square-foot retail property located at 600 N. Telegraph Road in Pontiac for an undisclosed price. Simon Jonna and Raymond Jonna of the brokerage firm represented the seller, a property management company from New York. The new owner, CNS Healthcare, is currently leasing the retail space to Value World Inc. and Harbor Freight Tools USA Inc.
JEFFERSON CITY, MO. — Marcus & Millichap has negotiated the $4.2 million sale of a 14,820-square-foot retail property occupied by Walgreens in Jefferson City. The net-leased building, constructed in 2010, is located at 900 Eastland Drive. Nicholas Kanich and Mitch Grant of Marcus & Millichap represented the seller, an investor from Kansas City. A local broker procured the buyer, a local group completing a 1031 exchange. Walgreens has operated at the property for more than 14 years and has over 10 years remaining on its lease. Neighboring retailers include Gerbes Supermarket, Dollar General, McDonald’s and Taco Bell.
FARMINGTON AND CANTON, ILL. — Newmark has brokered the $1.6 million sale of a self-storage portfolio in Farmington and Canton, about 25 miles west of Peoria. The four-building portfolio totals 35,650 square feet and includes a primary facility as well as three satellite buildings. Kris Parker of Newmark represented the seller, Simple Self Storage LLC, and the buyer, Prime Space Storage LLC.
CHICAGO — Lamar Johnson Collaborative (LJC) has revealed the first renderings of The LaSalle Residences, an office-to-multifamily adaptive reuse project at 208 S. LaSalle St. in Chicago’s Loop. The project is part of the city’s LaSalle Corridor Revitalization initiative. Led by Chicago-based developer The Prime Group Inc., the project calls for the repurposing of 222,500 square feet of office space on floors 13 to 16 into 226 apartment units in studio, one- and two-bedroom floor plans. The development will feature a new ground-floor lobby as well as amenities such as a fitness facility; tenant lounge spaces for coworking, meetings and social events; and penthouse-level community terraces with an outdoor pool and gathering areas overlooking the central atrium. The project will also upgrade all older mechanical systems with energy-efficient equipment and replace the existing single-pane windows with high-performance insulated glass. Of the 226 units, 30 percent will be set aside for residents earning an average of 60 percent of the area median income. Completed in 1914, the 1.2 million-square-foot, 22-story building was initially designed by Chicago architect D.H. Burnham & Co. in the classical revival style for the Continental and Commercial National Bank. The property was listed on the National Register …
PLEASANT PRAIRIE, WIS. — Dermody Properties has broken ground on LogistiCenter at Pleasant Prairie, a rail-served logistics park in southeast Wisconsin. WestRock, a sustainable packaging company, has signed a build-to-suit lease to occupy more than 580,000 square feet within the park. The project site was previously home to a power plant and sits adjacent to substations that can deliver power capacity and provide freshwater service from Lake Michigan. LogistiCenter at Pleasant Prairie is expected to include three buildings totaling 2.4 million square feet with the flexibility to accommodate build-to-suits ranging from 250,000 to 1.8 million square feet.
