CHICAGO AND CHESTERFIELD, MO. — Colliers Bennett & Kahnweiler (CBK) has represented Evanston, Ill.-based Davis Street Land Co. in the sale of two Midwest shopping centers for a total of $22.9 million. In Chicago, the company disposed of Clybourn Galleria, a 25,054-square-foot retail center located at 1845 N. Clybourn Ave. The center is fully occupied by tenants including Ann Taylor Loft, Chico’s, Jos. A. Bank, Gymboree, Talbot’s and Nine West. The property was sold to Greenstreet Real Estate Partners for $13.5 million. In Chesterfield, CBK disposed of The Shops at Clarkson Corner, a 20,432-square-foot lifestyle center located at 1540 Clarkson Rd. The center is also fully leased and includes tenants Talbot’s, White House/Black Market, Chico’s and Venetian Nail Spa. The property was acquired for $9.4 million by a private St. Louis-based investor, which was represented by Jane Hollo of Colliers Turley Martin Tucker. Kevin Gazley of CBK represented Davis Street Land Co. in both transactions.
Midwest
INDIANAPOLIS — The Indianapolis office of CB Richard Ellis (CBRE) has arranged the sale of The Bristol, a 211-unit apartment community located in Indianapolis. CBRE’s Multi-Housing Group, led by Steve LaMotte and Amy Burmeister, represented the seller, Flaherty & Collins. The property was acquired by a joint venture involving JCap Management and Alex Brown Realty for an undisclosed amount.
ST. LOUIS AND O’FALLON, MO. — St. Louis-based Gateway Commercial/Cushman & Wakefield has brokered the sale of three warehouse/distribution properties for a total of $9.96 million. In St. Louis, the firm arranged the $4.25 million sale of a 165,000-square-foot building located at 6501 Hall St. In O’Fallon, the firm brokered the $2.92 million sale of a 115,200-square-foot building located at 601 Cannonball Lane. Finally, Gateway completed the sale of a 95,241-square-foot building, located at 2701 Hereford St. in St. Louis, for $2.79 million. Patrick Reilly and Geoffrey Orf of Gateway Commercial represented the undisclosed sellers in each of the transactions.
CHICAGO — Riverwoods, Ill.-based Podolsky Northstar CORFAC International has arranged the purchase of a two-building self-storage property, located at 6714 S. Cottage Grove Ave. and 7001 S. Chicago Ave. in the Hyde Park neighborhood of Chicago, for $2.3 million. Steven Tick of Podolsky Northstar represented the buyer, Columbia, Mo.-based StorageMart Partners. The seller, REO Self-Storage, was represented by Dan Hyman of Millennium Properties.
CARTER LAKE, IOWA — NorthMarq Capital has secured $6.1 million in first-mortgage financing for the Country Inn & Suites – Airport, an 87-room hotel located in Carter Lake. The loan was based on a 5-year term with a 25-year amortization schedule. Gary Rifkin of NorthMarq’s Omaha office arranged the financing on behalf of the borrower, Keystone Properties III, with General Electric Capital Corp. – Franchise Finance.
ELKHART, IND. — Oakbrook Terrace, Ill.-based Mid-America Real Estate Corp. has arranged the sale of North Pointe Plaza, a 179,602-square-foot community shopping center located at the corner of Cassopolis Street and the Indiana Tollway in Elkhart. The center is anchored by Martin’s Super Market and Kmart; other tenants include CVS/pharmacy, Beneficial Finance, GNC and Fashion Bug. The property is currently 93 percent occupied. Ben Wineman and Joe Girardi of Mid-America represented the seller, West Bloomfield, Mich.-based NP Associates, which is an affiliate of First Holding Management Co. The buyer, Fort Wayne, Ind.-based Equity Investment Group, negotiated the transaction in-house. The acquisition price was not disclosed.
HICKORY HILLS, ILL. — Elmhurst, Ill.-based Darwin Realty & Development Corp. has completed the sale of an 83,000-square-foot, multi-tenant industrial property located at 9901-9913 S. 87th Ave. in Hickory Hills. The building comprises six units and features 20-foot clear ceiling heights, as well as truck and grade-level capabilities. Brian Liston of Darwin represented the buyer, Value Industrial Partners. The seller was not disclosed. The acquisition price was also undisclosed, but the property listed for $4.5 million.
CHESTERFIELD, MICH. — L. Mason Capitani/TCN Worldwide (LMC) has brokered the sale of a 41,430-square-foot manufacturing facility located at 50903 E. Russell Schmidt Blvd. in Chesterfield. The property was acquired by Turri’s Italian Food, which plans to use the facility to expand its current operations located in Roseville, Mich. Thomas Jablonski of LMC represented Turri’s, as well as the undisclosed seller. The acquisition price was not disclosed, but the asking price was $1.25 million.
CHICAGO — Construction is advancing for AMLI 900, a 24-story apartment tower located at 900 S. Clark St. in the South Loop of Chicago. The building features 440 rental units comprising studio, one-, two- and three-bedroom units. Amenities include a fitness center with a yoga studio, bike storage, an Internet café, a top-floor party room, a rooftop deck with a fireplace and misting stations, and 274 parking spaces. The project is applying for LEED certification, and chose to implement a Breatheasy program that prohibits smoking inside and outside of the property as part of its certification. The property will be open for leasing in May, with first occupancies expected in June. The project is being developed by AMLI Residential.
SIOUX CITY, IOWA — Sioux City-based NAI LeGrand & Co. has arranged the sale of a 68,000-square-foot retail building located in Sioux City. The building is located in Perry Creek Shopping Center, and was formerly occupied by Cub Foods. Ritch LeGrand of NAI represented the seller, Supervalu. The property was acquired by Sioux City-based retailer Bomgaars for an undisclosed price.