MINNEAPOLIS — The Minneapolis/St. Paul office of Colliers Turley Martin Tucker has arranged the sale of the historic mixed-use Manufacturers Building located at 401 First Avenue North in Minneapolis. Colliers represented Manufacturers Building LLC in the sale of the 52,175-square-foot building to Uppal Enterprises. Terms of the deal were undisclosed. The building’s new owner is renaming the landmark facility, which includes retail and office space, 401 1st Avenue.
GREENFIELD, IND. — Steve Daum of Dublin, Ohio-based NAI Olympia Partners has arranged the purchase of two tracts of land within the Springhurst West development of 0 West 100 North in Greenfield, Ind. Timber Run LLC, an Epcon Community developer, purchased the approximately 18 acres of land from Dick & Martha Fish Farms Inc. and Springhurst Land Company for an undisclosed amount. The Villas At Timber Run will feature single-story residential condominiums that will be constructed in a unique pinwheel design.
WINNETKA, ILL. — Steven Rachman and Kyle Stengle of Marcus & Millichap’s Downtown Chicago office have brokered the $2.2 million sale of a mixed-use property located at 735 Elm St. in downtown Winnetka. The 8,000-square-foot facility, which includes retail, apartments and garages, was sold to an undisclosed local owner.
LINCOLN, NEB. — John Reed of NorthMarq Capital’s Omaha, Neb., office has secured $6.5 million in first mortgage financing for Chantacleer Apartments, a 104-unit multifamily complex located in Lincoln. Financing was based on a 9-year term plus one, with interest-only for 2 years. NorthMarq arranged the loan for the borrower through its affiliation with AmeriSphere Multifamily Finance.
INDIANAPOLIS — Investment Strategies of Indianapolis has sold its 3,834-square-foot industrial facility in Northwest Indianapolis to Gary Theaodis Jr. for $335,000. Situated on 1.23 acres of land, the building is located at 4010 Guion Rd. Jeffery Baumgartner of Coldwell Banker Commercial Realty Services’ Indianapolis office represented the seller; Adam Stephenson of Summit Realty Group represented the buyer.
MINNEAPOLIS — Wrightwood Capital has provided $17 million in acquisition financing for Renaissance Square, an 11-story office building located at 500 Nicollet Mall in Minneapolis. The historic building, which measures approximately 139,000 square feet, features a ten-story interior atrium with a skylight and retail space on the ground level. Wrightwood structured the 36-month loan for the borrower, RPD Catalyst, a real estate investment firm that has plans to renovate the facility. David Aaronson of Live Oak Capital arranged the transaction.
ORLAND PARK, ILL. AND CHICAGO — Austen Alexa of Downers Grove, Ill.-based Champion Realty Advisors has brokered two retail sales on behalf of JD Realty. In Orland Park, JD Realty acquired a $5 million, 49,219-square-foot Dominick’s Finer Foods located at 1508 S. La Grange Rd. The seller, Amalgamated Trust & Savings Bank – Trust No. 4583, negotiated the deal in-house. In Chicago, JD Realty purchased a 10,000-square-foot Walgreens located at 4000 W. 59th St. for $2 million. The seller, 4000 W. 59th Street Chicago LLC, negotiated the deal in-house.
BRIDGEVIEW, ILL. — John Abuja of Marcus & Millichap’s Downtown Chicago office represented both parties in the sale of a 157,593-square-foot industrial building located at 7400 West 110th Place in Bridgeview. After 11 offers, the facility that is located only 13 miles from downtown Chicago, sold for 98 percent of the listing price.
CLEVELAND — Terry O’Brien of Washington-based Molinaro Koger has arranged the sale of the 213-room Holiday Inn Cleveland-East, Ohio, on behalf of Ridgehills Hotel. The hotel, which features an indoor pool, more than 8,000-square-feet of meeting space, and two food and beverage outlets, was acquired by Inn at the Wickliffe for an undisclosed price. The buyer plans to manage the facility and execute an extensive renovation to capture increased market shares.
MILWAUKEE — Indianapolis-based Lauth has unveiled its proposed Bradley Center project, a mixed-use retail/entertainment development located on 12 acres adjacent to Milwaukee’s Bradley Center. In addition to a parking garage, the 500,000-square-foot, multi-level development will include space for major anchor tenants, junior anchors, small shops, and dining and entertainment venues. A more detailed plan of the development’s multiple phases will be presented to the city in the next year. If market demand warrants, future phases could include high-rise office, hotel and residential towers. Expansion of the project north into the Park East area is dependent on the development’s initial success.