Midwest

CHAMPION REALTY ADVISORS BROKERS 41,913-SQUARE-FOOT INDUSTRIAL SALE

by admin February 18, 2009

MUNDELEIN, ILL. — Downers Grove, Ill.-based Champion Realty Advisors has brokered the acquisition of a 41,913-square-foot multi-tenant industrial facility located at 408 Washington Blvd. in Mundelein. Collins Estate LLC has purchased the facility for an undisclosed amount, and will be relocating its business to the new location. The building, which is situated on a 4.23-acre site, includes 6,000 square feet of office space, three exterior docks, one interior dock and three drive-in doors. Rich Antczak of Champion Realty Advisors represented the buyer; Steve Sullivan of NAI Hiffman represented the seller, Journeys End Real Estate Partnership, in the transaction.

February 18, 2009

UNITED BAPTIST CHURCH PURCHASES 11-ACRE COMMERCIAL SITE

by admin February 18, 2009

MEDINA, OHIO — The United Baptist Church of Parma has purchased a two-building commercial site located at 2920-2934 Pearl Rd. in Medina. The 11-acre property includes an 8,300-square-foot commercial building, as well as a 3,000-square-foot residential building. Debra Kaplan in the Akron, Ohio, office of NAI Cummins represented the undisclosed seller in the transaction. The acquisition price was not disclosed.

February 18, 2009

Midwest Mixed-Use

MCKINLEY COMMERCIAL COMPLETES 150,000-SQUARE-FOOT WORK-OUT

by admin February 17, 2009

DAYTON, OHIO — McKinley’s Commercial Client Services Group has completed the work-out of a 150,000-square-foot distressed asset located in Dayton. The company took over Northtown Center, which includes an office and retail component, as a court-appointed receiver in June 2008. Within 6 months, McKinley improved the physical appearance of the property, renewed the leases of key tenants and successfully transitioned the asset to a purchaser of the property.

February 17, 2009

Civic Midwest

HOLLAND CONSTRUCTION COMPLETES FIREHOUSE FACILITY

by admin February 17, 2009

BELLEVILLE, ILL. — Holland Construction Services has completed renovations for the former Illinois American Water Maintenance Facility, which is now Firehouse #4. The $1.8 million, 13,611-square-foot warehouse remodel consists of a fully functioning firehouse with drive-through garage space for fire trucks, a generator system, office space, restrooms, a kitchen, lockers and sleeping quarters for four. EWR Architects provided architectural services for the project, which is located at 1125 S. Illinois St. in Belleville.

February 17, 2009

Midwest Office

NAI OLYMPIA PARTNERS ARRANGES 75,490-SQUARE-FOOT OFFICE LEASE

by admin February 17, 2009

INDIANAPOLIS — Christian Church Services has signed a lease for 75,490 square feet of office space located at 130-132 East Washington St. in Indianapolis. The property was leased by Perennial Washington Street LLC. Drew Augustin or NAI Olympia Partners represented the tenant; Matt Langfeldt and Gus Miller, also of NAI Olympia Partners, represented the landlord in negotiations. Additional terms of the lease were not disclosed.

February 17, 2009

Midwest Retail

ROBERT B. AIKENS SIGNS AEROPOSTALE TO VILLAGE OF ROCHESTER HILLS

by admin February 17, 2009

ROCHESTER HILLS, MICH. — Birmingham, Mich.-based Robert B. Aikens & Associates has signed Aeropostale as the newest tenant in the development firm’s Village of Rochester Hills. The 3,600-square-foot store is expected to open in the summer, within the 357,000-square-foot lifestyle center located in Rochester Hills. The Village is Michigan’s first lifestyle center, and features additional tenants such as Parisian, Abercrombie & Fitch, Jos. A. Bank, J. Crew and Banana Republic.

February 17, 2009

Industrial Midwest

STRATEGIC STORAGE TRUST ACQUIRES THREE SELF-STORAGE PROPERTIES

by admin February 16, 2009

CINCINNATI — Strategic Storage Trust Inc. has acquired three Best Self-Storage properties located in northern Kentucky within the greater metro area of Cincinnati. The 211,000-square-foot portfolio, which was purchased for $9.9 million, houses 1,295 storage units. The three properties include: • A 72,000-square-foot, 434-unit property, which is situated on an approximately 7.5-acre site in Walton, Ky. Occupancy is currently at 81 percent. • A 57,200-square-foot, 344-unit property, which is situated on a 2.6-acre site in Crescent Springs, Ky. Occupancy is at 87 percent. • An 81,800-square-foot, 517-unit property, which is situated on approximately 7 acres in Florence, Ky. Occupancy is at 93 percent. The portfolio purchase was funded in part by two seller-financed promissory notes. The notes bear a fixed interest rate of 5 percent per annum during the initial 3 years of their 5-year terms, and 6 percent per annum during the final 2 years.

February 16, 2009

Midwest Office

LOCKWOOD DEVELOPMENT COMPLETES 30,000-SQUARE-FOOT HEADQUARTERS BUILDING

by admin February 16, 2009

OMAHA, NEB. — Locally based Lockwood Development has completed Lindsay Corp.’s 30,000-square-foot headquarters building located at 110th and Blondo streets within the Blondo Office Park in Omaha. Lockwood Construction, a subsidiary of Lockwood Development, led the building effort for the three-story facility. Lindsay Corp. plans to take occupancy at its new building on February 22nd. The cost of completing the build-to-suit facility was not disclosed.

February 16, 2009

Midwest Multifamily

147-UNIT MULTIFAMILY COMMUNITY SECURES $2.59 MILLION LOAN

by admin February 16, 2009

DAYTON, OHIO — Minneapolis-based NorthMarq Capital has arranged $2.59 million in first mortgage financing for Chamberlain I & II, a rehabbed 147-unit multifamily property located in Dayton. Greg Duvall in the Kansas City office of NorthMarq arranged the loan for the borrower, Cornerstone Regency Properties of Chamberlain LLC. The transaction was financed through Freddie Mac’s Embedded Cap Variable Rate Loan program. Additional terms of the loan were not disclosed.

February 16, 2009

Midwest Retail

METRO COMMERCIAL REAL ESTATE ARRANGES THREE RETAIL LEASES

by admin February 16, 2009

LOCKPORT, ILL. — On behalf of TCB Development, METRO Commercial Real Estate has secured three tenants within Lockport Square at Farrell Road, which is located between a new Interstate 355 extension and downtown Lockport. Sonic has recently opened its fourth Chicago-area location in a freestanding drive thru building at the site. The new Sonic, which is located at 16031 S. Farrell Rd., is directly south of a Jewel-Osco and across the street from Aldi. Additionally, Vibe has opened within another freestanding drive thru building at the site. The smoothie and coffee shop is located directly south of Sonic at 16105 S. Farrell Rd. Finally, Play It Again Sports has signed a lease for 3,500 square feet of space within the center. Brent Wayburn and Nathan Tonnies of METRO Commercial Real Estate represented TCB Development in all three transactions. Existing tenants at Lockport Square include Chase Bank, GameStop, CiCi’s Pizza, Sherwin Williams and U.S. Cellular.

February 16, 2009

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