ROSEVILLE, MICH. — L. Mason Capitani has brokered the acquisition of a 36,374-square-foot industrial facility located at 15890 Sturgeon in Roseville. Palmer Distributors has purchased the property from an undisclosed seller in order to expand its current operations. The asking price for the facility was approximately $1.3 million. Tom Jablonski of L. Mason Capitani represented the buyer in the transaction.
INDIANAPOLIS — Local brokerage firm NAI Olympia Partners has arranged the sale of the Arlington Professional Building located at 1213 N. Arlington Ave. in Indianapolis. The two-story, 27,130-square-foot office was acquired for an undisclosed amount. Tracey Holtzman and Michael Firsich of NAI Olympia Partners represented the undisclosed seller; Antone Najem Venture Real Estate represented the buyer, Statewide Property LLC, in the transaction.
KANSAS CITY, MO. — Greg Duvall in the Kansas City office of Minneapolis-based NorthMarq Capital has arranged approximately $71.19 million in financing for an eight-property multifamily portfolio located in Ohio, Colorado and South Carolina. The combined properties consist of 1,529 units. Financing was based on a 10-year term with 3 years interest only, and a 30-year amortization schedule thereafter. The loan was financed through Freddie Mac’s Capital Markets Execution Program. Additionally, Duvall has arranged a $7.74 million first mortgage loan for the Villa West Apartments located at 2744 SW Villa West Dr. in Topeka, Kan. Financing for the 308-unit multifamily property was based on a 7-year term with 3 years interest only, and a 30-year amortization schedule thereafter. The loan was arranged for the borrower by NorthMarq through its seller/servicer relationship with Freddie Mac.
MUSKEGON, MICH. — Grubb & Ellis|Paramount Commerce has represented both parties in the sale of a 239,659-square-foot industrial facility located at 1450 E. Laketon in Muskegon. Laketon Ave12 LLC has purchased the building from HRE Muskegon LLC for an undisclosed amount. The facility was part of a five-building portfolio owned by Hilco. Kurt Suidinski of Grubb & Ellis|Paramount Commerce represented the buyer; Randy Bronkema and Steve Wilson, also of Grubb & Ellis|Paramount Commerce represented the seller in the transaction.
SOUTH BEND, IND. — Marcus & Millichap has completed the sale of a multi-tenant office building located in South Bend. The Park View Atrium measures 36,629 square feet in size. Both the buyer and seller of the property were not disclosed. Jon Abuja and Raymond Sansonetti in the Chicago Downtown office of Marcus & Millichap represented both parties in the transaction. The property was sold for 96 percent of the list price.
LA CROSSE, WIS. — Wisconsin-based Eppstein Uhen Architects has been retained by the University of Wisconsin-La Crosse to supply programming and design services for a new student housing community. The new facility will house 500 residence hall beds, as well as associated program and community spaces, and permanent office space for the UW-La Crosse Office of Residence Life. Additionally, the building will include front desk and lobby areas, limited retail spaces, study and television lounges, laundry facilities and light recreation areas. The project is being designed to achieve LEED Silver Certification. The estimated cost of completion of the residence hall was not disclosed.
BENSENVILLE, ILL. — Atlanta-based MailExpress has opened its new Customer Processing Center in Bensenville. The 40,000-square-foot building is more than twice the size of the company’s previous facility, which was also located in suburban Chicago. With a capacity to process more than 1.5 million packages per week, the new facility will serve much of the upper Midwest region. In addition to the Midwest regional facility, MailExpress is preparing to open its 18th distribution center this month in Salt Lake City.
SCHAUMBURG, ILL. — Grubb & Ellis has brokered the sale of a 110,000-square-foot multi-tenant industrial building located at 2401 Palmer Dr. in Schaumburg. American Asset Management Services purchased the facility from Waterton Associates for $6 million. Tenants at the building include Cricket Communications, Sun Cap and DG Printing. Mike Wilson and Erik Foster of Grubb & Ellis’ Capital Markets Group facilitated the transaction.
ORLAND PARK AND WHEELING, ILL. — Marcus & Millichap has represented both parties in the sale of an industrial office/warehouse property located at 11535 West 183rd Place in Orland Park. The 43,910-square-foot Orland Park Business Center, which was 92 percent occupied at the time of the sale, was acquired by an undisclosed limited liability company. The corporate park commanded a sales price of $3.8 million. John Abuja in Marcus & Millichap’s Chicago Downtown office represented both parties in the transaction. In Wheeling, Abuja has also arranged the sale of 60,845 square feet of flex office space located at 5110-6360 Capitol Dr. The transaction includes four buildings situated on an approximately 5.4-acre land parcel. Both the buyer and seller were not disclosed. The office property was acquired for $6.2 million.
MISHAWAKA, IND. — South Bend, Ind.-based CB Richard Ellis|Bradley has brokered the acquisition of an office building located at 4215 Edison Lakes Pkwy. within the Edison Lakes Corporate Park in Mishawaka. The Three Edison Lakes building measures 38,844 square feet in size. GLC Acquisitions has purchased the Class A building from an undisclosed seller for a sales price of $4.75 million. Tenants at the property include St. Joseph Regional Medical Center, Russian-Ferro-Alloys Inc. and Indiana Tech. Brad Toothaker and Regina Emberton of CB Richard Ellis|Bradley represented the buyer in the transaction.