CHICAGO — Chicago-based Paine/Wetzel • ONCOR International has completed three Chicago industrial sales. Matt Rogatz and Michael Nelson of the firm represented John Clarkson in the sale of a 30,000-square-foot industrial building located at 2229 S. Michigan Ave. within the Motor Row District of Chicago’s South Side. The undisclosed buyer plans to redevelop the property into first-floor restaurant space, with loft offices on the second and third floors. Also in the Motor Row District, Albert Shulman of Paine/Wetzel represented Costello Glass in the sale of a 21,500-square-foot building located at 2232 S. Wabash Ave. The property was acquired by Snappy Auto Co. Finally, Nelson represented Maxi Windows in the sale of an 18,755-square-foot building located at 7437 S. Vincennes Ave. The property was acquired by CCC Brands. The acquisition prices in all three transactions were undisclosed.
Midwest
DAYTON, OHIO — Grubb & Ellis Healthcare REIT has acquired Park Place Office Park, a three-building medical office park located near Kettering Medical Center in Dayton. The three buildings, Park Place I, II and III, are situated on 8.5 acres and total approximately 133,000 square feet. The property includes a landscaped common area with a pond, water features, benches and walking paths. The office park is 87 percent leased to tenants including Premier Integrated Medical Association, Lincoln Park Surgery Center and Kettering Breast Evaluation. The property was acquired by Grubb & Ellis from Fraze Enterprises, which was represented by Mike Wenzler. The acquisition price was not disclosed.
DES PLAINES, ILL. — A joint venture between the Skokie, Ill.-based Missner Group and AMB Property Corp. has completed a 253,400-square-foot build-to-suit industrial facility for Coaster Company of America. The building, which is located at 255 Wille Rd., features an 18,000 square foot office and showroom, 30-foot clear ceiling heights and 55 dock positions. Coaster is relocating from its previous facility at 560 Supreme Dr. in Bensenville, Ill.
SEVILLE, OHIO — Boston-based STAG Capital Partners has acquired two warehouse facilities, located at 5160 and 5180 Greenwich Rd. in Seville, as part of a 15-year sale/leaseback transaction with Ohio Wholesale. The adjacent buildings, which are located on 27 acres and total 345,000 square feet, are fully occupied by Ohio Wholesale. Martin Rizzo of Cohen Capital Advisors represented the seller, an affiliate of Ohio Wholesale. The acquisition price was not disclosed.
CHICAGO — Chicago-based Paine/Wetzel • ONCOR International has brokered the sale of a 41,640-square-foot industrial facility located at 3388 North Avondale in Chicago. The property was subsequently leased to AAA Bag and Tag. Curt Stanton, Ryan Bertin and Kevin Riley of Paine/Wetzel represented the seller, Ken Way Associates. The buyer, Novak Construction, was represented by Christopher Neavolls of Crescendo Realty. The sale price was undisclosed.
ELK RIVER, MINN. — River Industrial is developing Elk River Orono Commons, a 60,000-square-foot industrial condominium project in Elk River. The property is located at 12671 Meadowvale Rd. near Highway 10 and Upland, and is slated for completion in February. River Industrial is comprised of Dave Schulte and Gordie Berger. Equity Transwestern, a Minneapolis-based commercial real estate company, is marketing the project.
CLEVELAND — Amin, Turocy & Calvin has signed a 14,000-square-foot lease at Key Tower in Cleveland. The intellectual property law firm will call the 57th floor home in early summer. The floor is the highest office space between New York City and Chicago. Scott Halloran of CB Richard Ellis represented the tenant in the transaction.
BELLEVUE, NEB. — Timbercrest Properties has sold Timbercrest Apartments in Bellevue to a local investor for $2.1 million. The 76-unit property, located at 1320 Bluff St., features one- and two-bedroom units and 19 garages. Jim Vokal of Omaha, Neb.-based Coldwell Banker Commercial World Group represented the seller in the transaction.
CHESTERFIELD, MO. — The joint venture of Grubb & Ellis Healthcare REIT and BD St. Louis Development, a subsidiary of Duke Realty Corp., has acquired Chesterfield Rehabilitation Center in Chesterfield. The 50-bed, three-story inpatient rehabilitation facility is located 22 miles west of St. Louis, and offers physical, brain and spinal cord rehabilitative services. Philip Mahler and Jeffrey Cooper with New York-based Savills Granite brokered the transaction. The acquisition price was not disclosed.
KALAMAZOO, MI. — Bill Bailey and John Bailey of Marcus & Millichap’s Chicago office have brokered the sale of Western Pines, a student housing complex in Kalamazoo. The 88-unit property is situated on 8.7 acres approximately 1 mile from Western Michigan University and features two- and three-bedroom units. The property is 100 percent occupied.