WOODSTOCK, ILL. — Entre Commercial Realty has arranged the sale of a 17,600-square-foot truck maintenance and trailer parking facility in Woodstock, about 50 miles northwest of Chicago. The sales price was undisclosed. Located at 14400 Washington St., the property features more than seven acres of outdoor storage and trailer parking. Kevin Kaplan of Entre represented the seller, CTS Group of Cos. LLC. Andrei Andronic of Remax represented the buyer, Esquire Logistics.
OKEMOS, MICH. — Bernard Financial Group (BFG) has arranged a $6.7 million loan for the refinancing of a 254-unit multifamily property in Okemos near Lansing. Dennis Bernard and Joshua Bernard of BFG arranged the loan through Minnesota Life Insurance Co. The borrower was an entity doing business as Cedar Creek MS LLC.
BRIDGEVIEW, ILL. — Entre Commercial Realty has brokered the sale of a 43,750-square-foot industrial building in the Chicago suburb of Bridgeview for an undisclosed price. The multi-tenant property is located at 9700 Industrial Drive immediately off the four-way interchange of I-294 and 95th Street. Jeffrey Locascio and Chris Wilbur of Entre brokered the transaction. The buyer was a joint venture between Clear Height Properties and Harbert US Real Estate, an investment strategy sponsored by Harbert Management Corp. Entre has been retained to market the property for lease. The seller was undisclosed.
CHICAGO — Kiser Group has negotiated the $2.1 million sale of a portfolio of multifamily properties in Chicago’s West Garfield Park neighborhood. The newly renovated units were fully occupied at the time of sale. Jack Petrando and Noah Clark of Kiser brokered the transaction. Buyer and seller information was not provided.
CLAWSON, MICH. — Dominion Real Estate Advisors has brokered the sale of a 14,350-square-foot industrial building located at 850 N. Rochester Road in Clawson, a northern suburb of Detroit. The sales price was undisclosed. Barry Landau of Dominion represented the seller, LT Property Holdings LLC. Ernie Dearman of CLG Realty Advisory represented the buyer, OM3 LLC.
EVANSTON, ILL. — Mosaic Construction LLC has completed a renovation of FEW Distillery, a craft distillery located at 918 Chicago Ave. in Evanston — the birthplace of Prohibition. Mosaic conducted a structural renovation to the 3,000-square-foot whiskey production facility. According to Mosaic, FEW became the first maker of whiskey and gin in Evanston since the U.S. Congress ended Prohibition nearly 100 years ago. The company opened at a former automotive shop in 2011 with its entrance hidden in an alley. The renovation included new steel columns, support beams, a concrete floor and electrical work. The project team consisted of Moshe Calamaro and Associates (engineering), Battaglia Electric (electric), Twin Bros. Paving (concrete flooring) and GCS Roman Steel Work (steel).
CHICAGO AND LOS ANGELES — A joint venture between Remedy Medical Properties and Kayne Anderson Real Estate has acquired a portfolio of 37 healthcare properties from Broadstone Net Lease (NYSE: BNL), a diversified real estate investment trust with an industrial focus. The properties traded hands for $252 million. JLL served as the broker for the transaction. The 37 properties were selected from a larger collection of healthcare assets designated for sale by Broadstone Net Lease. The properties are being sold as part of the REIT’s plan to focus on core net lease assets in the industrial, retail and restaurant sectors. As of March 31, industrial properties comprised 54.2 percent of the REIT’s portfolio. The portfolio totals more than 708,000 square feet across 13 states. Each property is fully leased. The assets are situated in prominent markets that include: Chicago; Houston; Charlotte, North Carolina; Indianapolis; Seattle; Milwaukee; Tampa, Florida; and Arlington, Texas. The properties are leased by health systems and physician groups such as Advocate, Emerge Ortho, Froedert Health, IU Health, Tampa General, TGH Imaging and USPI. The largest facility included in the portfolio is Ridgeway Medical Campus in Greece, New York, near Rochester. The multi-specialty outpatient medical center comprises 120,000 …
MINNEAPOLIS — Lupe Development has opened Wirth on the Woods, a $52 million seniors housing campus near Theodore Wirth Park in Minneapolis. The project includes 100 units of affordable seniors housing in a six-story building named The Theodore and 100 units of market-rate seniors housing in a six-story building named The Eloise. The development also includes a new regional storm pond, outdoor classroom and play area for the adjacent Anwatin Middle and Bryn Mawr Elementary schools. The two seniors housing buildings feature shared amenities such as an outdoor courtyard, garden and greenhouse. The affordable housing component was made possible with the Livable Communities Demonstration funds from Metropolitan Council, as well as loans, grants and funding participation from the City of Minneapolis, Hennepin County and the Minnesota Housing Finance Agency. Investors in the project included Great Southern Bank and Raymond James Investments. The Eloise was privately funded, and Great Southern Bank served as the senior lender. Frana Cos. was the general contractor. Wirth on the Woods is the result of master planning between Lupe Development and Swervo Development Corp. The master plan created more than 200 additional market-rate units in a combination of lofted units and townhomes called the Pennhurst Collective. …
CHICAGO — JT Magen has completed construction of a two-story retail space for Cartier in Chicago. The luxury goods and jewelry company relocated to 15 Oak St. JT Magen served as construction manager for the retail build-out, overseeing all aspects of budgeting, procurement of materials, managing subcontractors and conducting the final handover of the completed project. The firm also spearheaded the structural design for the base building requirements and those of the storefront. JT Magen collaborated with the Cartier team as well as Atmosphere Design Group, Henderson Engineering and Turner Townsend. The new Cartier boutique features a white oak staircase and a custom internal elevator cab.
BLAINE, MINN. — Transwestern Real Estate Services has brokered the $4 million sale of a 46,800-square-foot office building in Blaine, a northern suburb of Minneapolis. Located at 3680 Pheasant Ridge Drive NE, the property was vacant at the time of sale but formerly housed the Minnesota School of Business. Eric Rapp of Transwestern represented the seller, M5 Built Holdings-Blaine LLC. The buyer, East Blaine Community Center, plans to fully renovate the building. The owner will utilize the building’s classrooms and large gathering spaces as a religious community center.
