MOUNT PLEASANT, MICH. — Potomac Realty Capital has secured a $9.4 million bridge loan for the acquisition of a student housing community located in Mount Pleasant. The property is located near the campus of Central Michigan University. The undisclosed borrower plans to implement a $2.5 million capital improvements program for the community. The terms of the loan were undisclosed.
MOUNT PLEASANT, MICH. — Potomac Realty Capital has secured a $9.4 million bridge loan for the acquisition of a student housing community located in Mount Pleasant. The property is located near the campus of Central Michigan University. The undisclosed borrower plans to implement a $2.5 million capital improvements program for the community. The terms of the loan were undisclosed.
ST. PAUL, MINN. — Grubb & Ellis Healthcare REIT has acquired Fort Road Medical Building, a 50,000-square-foot medical office building located in St. Paul. The four-story structure is fully integrated into the 2,000-bed United Hospital and Children’s Hospital and Clinics of Minnesota – St. Paul campus, and is connected to the hospitals and medical office buildings via underground tunnels. The medical office building is also attached to Irvine Park Towers and Condominiums, an apartment and condo complex. Grubb & Ellis acquired the property from Fort Road Associates, which was represented by Mark Davis of Davis Real Estate Services. The acquisition price was undisclosed.
ST. PAUL, MINN. — Grubb & Ellis Healthcare REIT has acquired Fort Road Medical Building, a 50,000-square-foot medical office building located in St. Paul. The four-story structure is fully integrated into the 2,000-bed United Hospital and Children’s Hospital and Clinics of Minnesota Ð St. Paul campus, and is connected to the hospitals and medical office buildings via underground tunnels. The medical office building is also attached to Irvine Park Towers and Condominiums, an apartment and condo complex. Grubb & Ellis acquired the property from Fort Road Associates, which was represented by Mark Davis of Davis Real Estate Services. The acquisition price was undisclosed.
AURORA, ILL. — Chicago-based HSA Commercial Real Estate has negotiated a lease for 231,880 square feet of an industrial building located at 1203 Bilter Rd. in Aurora. The HSA-developed and owned building, which is located within Aurora Distribution Center Phase II, totals 295,000 square feet, and features 30-foot clear ceiling heights, multiple docks and drive-in doors. The 5-year lease was signed by Minneapolis-based Reviva Logistics, which plans to use the facility to provide third-party warehouse and distribution services for Hankook Tire. Charles Canale and Carter Andrus of Colliers Bennett & Kahnweiler represented HSA in the lease transaction; Reviva was represented by CresaPartners.
AURORA, ILL. — Chicago-based HSA Commercial Real Estate has negotiated a lease for 231,880 square feet of an industrial building located at 1203 Bilter Rd. in Aurora. The HSA-developed and owned building, which is located within Aurora Distribution Center Phase II, totals 295,000 square feet, and features 30-foot clear ceiling heights, multiple docks and drive-in doors. The 5-year lease was signed by Minneapolis-based Reviva Logistics, which plans to use the facility to provide third-party warehouse and distribution services for Hankook Tire. Charles Canale and Carter Andrus of Colliers Bennett & Kahnweiler represented HSA in the lease transaction; Reviva was represented by CresaPartners.
ST. PAUL, MINN. — Minneapolis-based Kraus-Anderson Construction Co. will soon break ground for the construction of a Cub Foods grocery store located at the corner of Clarence Street and Maryland Avenue in the Phalen neighborhood of St. Paul. The 6.6-acre site will include the 60,000-square-foot Cub Foods, as well as three retail buildings totaling 14,175 square feet. The project is applying for LEED certification from the U.S. Green Building Council. It is being developed by Minnetonka, Minn.-based Oppidan.
ST. PAUL, MINN. — Minneapolis-based Kraus-Anderson Construction Co. will soon break ground for the construction of a Cub Foods grocery store located at the corner of Clarence Street and Maryland Avenue in the Phalen neighborhood of St. Paul. The 6.6-acre site will include the 60,000-square-foot Cub Foods, as well as three retail buildings totaling 14,175 square feet. The project is applying for LEED certification from the U.S. Green Building Council. It is being developed by Minnetonka, Minn.-based Oppidan.
ST. LOUIS — Hendricks & Partners (H&P) has brokered the sale of Place de la Concorde, a 50-unit apartment community located at 11542 Concord Village Ave. in St. Louis. Ken Aston of the St. Louis office of H&P represented the seller, Creve Coeur, Mo.-based Concorde Associates, as well as the buyer, St. Louis-based Lorenzo Development. The acquisition price was not disclosed.
ST. LOUIS — Hendricks & Partners (H&P) has brokered the sale of Place de la Concorde, a 50-unit apartment community located at 11542 Concord Village Ave. in St. Louis. Ken Aston of the St. Louis office of H&P represented the seller, Creve Coeur, Mo.-based Concorde Associates, as well as the buyer, St. Louis-based Lorenzo Development. The acquisition price was not disclosed.