MINNEAPOLIS — Colliers Turley Martin Tucker’s multifamily investment team has brokered the sale of Uptown City Apartments located at 714 and 1220 West Lake St. in the Uptown neighborhood of Minneapolis. The two-building mixed-use community includes 163 apartments, 222 enclosed parking spaces, a 59-car public parking garage and a 4,000-square-foot retail component. Invesco Real Estate has acquired the Class A urban infill property from Cornerstone Real Estate Advisors LLC and Village Green Cos. Gina Dingman, James McCaffrey and Julie Lux of Colliers Turley Martin Tucker represented the seller in the transaction. The acquisition price was not disclosed.
Midwest
NORTHBROOK, ILL. — Grubb & Ellis has brokered the sale of 56,700 square feet of office space located at 1135 Skokie Blvd. in Northbrook. Stepan Chemical Co. has acquired the Class B office property from ACCO Brands Corp. for an undisclosed amount. Louis Hall, Dirk Riekse and Chad Galayda of Grubb & Ellis represented the seller in the transaction; Cushman & Wakefield represented the buyer in the transaction.
WARRENSBURG, MO. — Irving, Texas-based Collegiate Development Services, in a joint venture with Harrison Street Real Estate Capital, has completed Collegiate Station at Warrensburg, an apartment community located at 502 S. Main St. in Warrensburg. The 120-unit complex, which is situated on an 8-acre site, will serve the students of the University of Central Missouri. The project includes five three-story buildings that house 60 two-bedroom and 60 four-bedroom apartments. Property amenities include individually locked bedrooms, a swimming pool and a 5,700-square-foot clubhouse, which features two plasma screen televisions, a computer lab, a fitness center and a pool table. Collegiate Contracting Services provided construction services; Collegiate Management Group is managing the property. Construction financing was provided by KeyBank.
ST. LOUIS — The St. Louis office of Minneapolis-based NorthMarq Capital has arranged $34.2 million in first mortgage financing for the Waterford Apartment portfolio. The four-property portfolio houses 746 units located in St. Louis. Financing was based on a 10-year term, with a 30-year amortization schedule and the first 2 years interest-only. The loan was arranged by David Garfinkel of NorthMarq through the company’s affiliation with AmeriSphere Multifamily Finance.
O’FALLON, BETHALTO AND GODFREY, ILL. — St. Louis-based Schnuck Markets Inc. has acquired two Illinois grocery stores located in O’Fallon and Bethalto. Additionally, Schnuck has acquired a lease on a third store in Godfrey. The three stores were sold by the Sher family of St. Louis, which owns the management company, The Homer Group. O’Fallon Hart Food & Drug and the Bethalto Park N Shop will close on October 20, and reopen on October 23 as Schnuck stores. The Godfrey Park N Shop store will be closed. Craig Schnuck of Schnuck Markets Inc. helped to broker the agreement. The acquisition cost was not disclosed.
GERMANTOWN, WIS. — Coldwell Banker Commercial McGuire Mears & Associates has arranged the sale of a 7,500-square-foot retail strip center located on Mequon Road in Germantown. The sales price was $1.1 million. The buyer and seller were not disclosed. Barry Badertscher of Coldwell Banker Commercial McGuire Mears & Associates represented the seller in the transaction.
CANTON, MICH. — LaKritz-Weber & Co. has brokered the sale of a mixed-use building within Cherry Hill Village, which is located at 50409 Independence St. in Canton. M & M International Enterprises LLC has acquired the 13,500-square-foot property from Cherry Hill Investors LLC. Adam Goodman and Tony Schmitt of LaKritz-Weber represented the seller in the transaction. The acquisition cost was not disclosed.
TROY, MICH. — Skanska USA Building Inc., in a joint venture with Barton Malow, has been named construction manager and design/builder for the William Beaumont Hospital project located in Troy. The 558,000-square-foot, multi-phased project broke ground in June 2007, with completion slated for October 2010. Harley Ellis Devereaux is providing design services for the hospital. Skanska’s share of the project is 51 percent of the $213 million total cost of construction. The project includes a 223,000-square-foot emergency center and critical care tower. Additionally, the hospital will include a three-story ambulatory care center, a vertical expansion of the West Tower, a loading dock and powerhouse expansion, a 5,400-square-foot MRI addition, and a connector bridge linking the existing main campus to the new ambulatory center on the hospital’s east campus.
HARRISBURG, ILL. — Walton Construction St. Louis has completed a 180,954-square-foot Wal-Mart Supercenter store in Harrisburg. The retail facility was completed in less than a year, with the grand opening planned for October 29. LawKingdon Architecture of Wichita, Kan., served as architect for the project. Local Harrisburg companies involved in the project included Burke Electric, Jerry White Excavating, Litton Enterprises, Asphalt Maintenance Inc. and Southern Illinois Asphalt. Since beginning its work with Wal-Mart Co., Walton has constructed the Wal-Mart Supercenter in Marion, Ill., and recently completed another Supercenter location in Chesterfield, Mo.
CHICAGO — Schiller Park, Ill.-based Englewood Construction has completed the 52,000-square-foot American Girl Place flagship store located within Water Tower Place at 835 N. Michigan Ave. in Chicago. American Girl Place occupies the first and second floors of the building, which formerly housed Lord & Taylor. The new American Girl retail experience, which is a relocation of its Chicago Avenue store, features a full-service restaurant, equipped with a private dining/party room, a photo studio and a doll hair salon. Englewood is also currently building the 22,000-square-foot, two-story American Girl Boutique within the amusement park of the Mall of America in Minnesota. The Mall of America location will open in November.