Midwest

UPLAND REAL ESTATE GROUP BROKERS SALE OF TWO NET LEASE PROPERTIES

by admin February 5, 2009

ELK RIVER, MINN., AND SPRINGFIELD, MO. — Upland Real Estate Group has brokered the sale of an 8,500-square-foot net lease property located in Elk River. A local 1031 Exchange investor has purchased the Dollar Tree for approximately $1.47 million at a 6.93 percent cap rate. The store is situated on a 1.6-acre site adjacent to a Home Depot and a Wal-Mart Supercenter. Keith Sturm and Deborah Vannelli of Upland Real estate Group represented the seller in the transaction. Additionally, Sturm and Vannelli have brokered the sale of a 5,754-square-foot net lease property located in Springfield. A 1031 Exchange investor has purchased the Lone Star Steakhouse for approximately $1.94 million at an 8 percent cap rate. Lone Star has a new 15-year triple-net lease with 2 percent annual rent increases at the property, which is situated on a 59,826-square-foot site. The guarantor operates 180 restaurants nationwide.

February 5, 2009

R.A. SMITH NATIONAL PROVIDES SERVICES FOR PROPOSED WOODMAN’S FOOD MARKET

by admin February 5, 2009

MENOMONEE FALLS, WIS. — Brookfield, Wis.-based R.A. Smith National is providing sitework engineering, landscape architecture and surveying services for a proposed Woodman’s Food Market in Menomonee Falls. The 238,000-square-foot market, which is subject to approval by the Village of Menomonee Falls, will be located on a portion of a 33.4-acre site at the northwest corner of N. 124th Street and Leon Road. On behalf of Building Systems General Corp., R.A. Smith’s services will include civil site design, stormwater management, off-site roadway improvements, landscape architecture, topographic survey and ALTA/ACSM Land Title Survey preparation.

February 5, 2009

Industrial Midwest

YRC WORLDWIDE COMPLETES FIRST PHASE OF $151 MILLION FINANCING TRANSACTION

by admin February 4, 2009

OVERLAND PARK, KAN. — Overland Park-based YRC Worldwide Inc. has secured approximately $101 million after closing the first part of the sale and financing leaseback for an undisclosed number of its facilities. The company, which is one of the largest transportation service providers in the world, expects to receive approximately $50 million more from NATMI Truck Terminals LLC in a second closing. YRC Worldwide plans to use the proceeds from the transaction for operating purposes. The company will account for the proceeds as a financing transaction, which allows the assets to remain on the books, and a lease obligation will be recorded as long-term debt.

February 4, 2009

Midwest Mixed-Use

NATIONWIDE REALTY INVESTORS BECOMES PARTNER IN NORTHSTAR COMMUNITIES

by admin February 4, 2009

COLUMBUS, OHIO — Locally based companies Nationwide Realty Investors and The Robert Weiler Company have become equal partners in Northstar Communities located near Interstate 71 and US 36-37 in Columbus. The 1,727-acre mixed-use project already includes a 400-acre, 18-hole resort golf course, which was not included in the deal. Future plans for the development call for 832 single-family homes, two condo projects, 1.5 million square feet of commercial space (retail and office), and 810 acres of green space, including walking paths, ponds, water features and parks. The Robert Weiler Company will continue to manage the day-to-day operations of Northstar Communities. Nationwide Realty Investors will work with the company with regards to all strategic planning decisions. Additionally Nationwide Realty Investors will lead the development efforts for the retail and office components of the project.

February 4, 2009

Industrial Midwest

NAI CUMMINS BROKERS 39,665-SQUARE-FOOT INDUSTRIAL TRANSACTION

by admin February 4, 2009

CANTON, OHIO — Willoughby Supply of Cleveland has purchased a 39,665-square-foot industrial facility located at 4900 Southway SW in Canton. The building, which is situated on a 4-acre site, was acquired from an undisclosed seller for $862,500. Willoughby Supply’s new location will be used as a warehousing and distribution center with a retail showroom for contractors and customers. Bob Raskow and Harry Stewart of NAI Cummins represented the sellers; Tom Fox, also of NAI Cummins, represented the buyer in the transaction.

February 4, 2009

Midwest Retail

BAUM REALTY GROUP ARRANGES FIVE RETAIL LEASES

by admin February 4, 2009

CHICAGO — Chicago-based Baum Realty Group has arranged five retail leases in Chicago and its suburbs. Most recently, the company has arranged a 4,285-square-foot lease located at 1714 North Damen Ave. in Chicago’s Bucktown retail district. The Dailey Method, a unique fitness-training program, is scheduled to open at the space in the spring. Anthony Campagni of Baum Realty Group represented the landlord in the transaction. The tenant was represented by Danny Jacobson of CB Richard Ellis. Additionally, in the Lincoln Park neighborhood of Chicago, Starfruit has signed a lease for 692 square feet of space within Block 37’s pedway. Campagni and Allen Joffe of Baum Realty Group represented Starfruit in securing its third Chicago location. Joffe has also represented Jimmy John’s Gourmet Sandwiches in its lease of 1,930 square feet of space in Willowbrook, Ill. The new store is scheduled to open in the summer. Additionally, Campagni and Joffe have arranged a 2,145-square-foot lease for The Cellular Connection. The store, which is slated to open in the spring, will be located on Route 50 and St. George Road in Bradley, Ill. Finally, Coldwell Banker Real Estate has signed a lease for 4,820 square feet of space within The Shops at …

February 4, 2009

Midwest Office

G&E|WEST SHELL TO MANAGE DUKE ASSETS TOTALING 872,000 SQUARE FEET

by admin February 3, 2009

CINCINNATI — Cincinnati-based Grubb & Ellis|West Shell Commercial has been selected by Duke Realty Corp. to assume property management and leasing responsibilities for four office buildings and two retail centers in Ohio. The properties, totaling 872,000 square feet, include three downtown Cincinnati office buildings located at 312 Elm, 311 Elm and 312 Plum; Triangle Office Park located in Sharonville, Ohio; and two anchored retail centers located on Mason-Montgomery Road in Deerfield, Ohio. The retail properties are anchored by a Lowe’s Home Improvement Warehouse and a Bigg’s Supercenter. As part of the arrangement, which went into effect February 1st, Duke will continue to own the properties and provide tenants with customer support service. Leasing, maintenance and on-site support will be provided by Grubb & Ellis|West Shell Commercial.

February 3, 2009

Industrial Midwest

LEE & ASSOCIATES BROKERS TWO ADJACENT LAND SALES FOR INDUSTRIAL FACILITY

by admin February 3, 2009

HOWELL, MICH. — Lee & Associates of Michigan has brokered two adjacent land sales totaling 18.5 acres in Howell. Located on Grand Oaks Drive, DeChris Limited Partnership has sold 10 acres of vacant land, and Grand Oaks LLC has sold 8.5 acres of vacant land. Consumers Energy has purchased both sites, which were zoned for industrial use, for an undisclosed amount. The company has plans to construct a service station and call center at the property. Kevin Brady and Mark Schafer of Lee & Associates represented Grand Oaks LLC in the transaction. Brady also represented DeChris Limited Partnership in the disposition.

February 3, 2009

Industrial Midwest

NAI OLYMPIA PARTNERS ARRANGES 173,430-SQUARE-FOOT INDUSTRIAL LEASE

by admin February 3, 2009

PLAINFIELD, IND. — Dallas-based SWS, which specializes in the redistribution of supplies for retail chain restaurants, has signed a lease for 173,430 square feet of space within Building 100 of the Plainfield Distribution Center, which is located at 2150 Stanley Rd. in Plainfield. Chip Barnes and Matt Dickerson of Indianapolis-based NAI Olympia Partners represented the landlord, Republic Property Co., in lease negotiations. This spring, Republic Property Co. is scheduled to begin construction on the 446,500-square-foot Building 200 within the Plainfield Distribution Center.

February 3, 2009

Industrial Midwest

HARBINGER PROPERTY GROUP ARRANGES 151,200-SQUARE-FOOT INDUSTRIAL LEASE

by admin February 3, 2009

KANSAS CITY, MO. — Minneapolis-based Malt-O-Meal Co. has signed a lease for 151,200 square feet of industrial space located at 1508 N. Chouteau in Kansas City’s Northeast industrial submarket. The company has plans to open a distribution facility for dry cereals at the new property. Ozburn-Hessey Logistics will be handling the distribution at the facility. Nathan Anderson of Kansas City-based Harbinger Property Group represented Malt-O-Meal in lease negotiations. Terms of the lease were not disclosed.

February 3, 2009

Newer Posts

Older Posts