YOUNGSTOWN, OHIO — Marcus & Millichap has brokered the sale of Boardman Center Plaza in Youngstown, a city in Northeast Ohio. The sales price was undisclosed. The 136,500-square-foot shopping center was 52 percent leased at the time of sale. Tenants include Guitar Center, Legends Food + Drink, FastSigns, Factory Boot Outlet and Harbor Pet Center. Included in the sale was a two-tenant building leased to Five Guys and Jimmy John’s. the property is located directly across the street from Southern Park Mall. Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, a Canadian private investor, and procured the buyer, a Texas-based private investor.
EDEN PRAIRIE, MINN. — Three new restaurants are opening at Eden Prairie Center, a 1.4 million-square-foot shopping mall in the Twin Cities suburb of Eden Prairie. A dual concept Japanese cuisine restaurant, Gyu Mai Japanese BBQ and Ichiddo Ramen, will occupy 7,996 square feet. The space will be divided to operate the two separate concepts. At the Japanese barbecue restaurant, guests will cook meats and vegetables on personal grills installed on the tables. The other portion is a noodle restaurant that serves authentic ramen noodle soups as well as other Japanese specialties in a counter-service environment. Completion is slated for December. Where’s the Flour?, a gluten-free fast-food restaurant, is slated to open this summer in the food court. The tenant, which is relocating from Blaine, Minn., offers an extensive selection of gluten-free breaded and fried comfort foods. Café Viola is opening an Italian coffee kiosk this month. The café will offer barista-made specialties and nitro cold brew made exclusively from beans from Lavazza, a brand that has been roasting and grinding espresso beans in Italy for over 120 years. Café Viola will also serve pastries and ready-to-eat prepared foods. Opened in 1976, Eden Prairie Center is home to more than …
Hunter Hotel Advisors Brokers Sale of Four-Property Hotel Portfolio in Suburban Chicago, Minneapolis
CHICAGO AND MINNEAPOLIS — Hunter Hotel Advisors has brokered the sale of a four-property hotel portfolio totaling 467 rooms in suburban Chicago and Minneapolis for an undisclosed price. Marquee Hospitality and Endeavor Hotels Inc. purchased the portfolio from Summit Hotel Properties. Spencer Davidson of Hunter represented the seller. The portfolio includes the Hilton Garden Inn Eden Prairie, Holiday Inn Express & Suites Minneapolis Minnetonka, Hyatt Place Chicago Lombard Oak Brook and Hyatt Place Chicago Hoffman Estates.
PICKERINGTON, OHIO — Marcus & Millichap has arranged the $8.9 million sale of The Shoppes at Stonecreek in Pickerington, an eastern suburb of Columbus. The 44,874-square-foot retail center is located at 1500 Stonecreek Drive. Built in 2008, the property is fully leased to tenants such as LifeTime Fitness, Roosters, Petland and Vitality Bowls. Scott Wiles, Craig Fuller, Erin Patton and Zach Turner of Marcus & Millichap represented the buyer and seller, neither of which were disclosed.
HOFFMAN ESTATES, ILL. — VIPAR Heavy Duty Inc., a truck parts distributor and service provider, has signed a 10,074-square-foot office lease at Bell Works Chicagoland in Hoffman Estates. VIPAR will relocate its team of 35 employees from Crystal Lake. Bell Works Chicagoland is the redevelopment of the former AT&T corporate campus undertaken by Inspired by Somerset Development. VIPAR is working closely with Inspired on the build-out of its space, which is slated for completion in August. Colliers represented VIPAR in the lease, while The Garibaldi Group represented ownership.
TOLEDO, OHIO — Friedman Real Estate has negotiated the sale of a 2,410-square-foot retail property occupied by Minuteman Car Wash in Toledo for an undisclosed price. The car wash, located at 5020 Monroe St., was built in 1971 and renovated in 2022. Marc Hildenbrand and Jordan Friedman of Friedman represented the buyer and seller, neither of which were disclosed.
FLINT, MICH. — Metro Infusion Center has signed a seven-year, 2,435-square-foot medical office lease at 1321 S. Linden Road in Flint. The tenant is an infusion and injection therapy provider with more than 160 locations nationwide. Jim Mitchell of Dominion Real Estate Advisors and Michele Rosenblum of Lee & Associates represented the landlord, LSPV Cornerstone, an affiliate of Versa Development Co.
CLEVELAND — KeyBank Institutional Advisors and KeyBank Community Development Lending and Investment (CDLI) have provided $30 million in financing to The Cleveland Foundation (TCF) for the construction of the 95,000-square-foot Midtown Collaboration Center in Cleveland. The center will be adjacent to TCF headquarters. KeyBank provided a $23.7 million loan, while KeyBank CDLI provided a $6.3 million equity investment in New Market Tax Credits. Partners in the project include Case Western Reserve University (CWRU), University Hospitals (UH), the Cleveland Institute of Art (CIA), Hyland Software and the Economic & Community Development Institute (ECDI). The center will house CRWU’s new Center for Population Health Research, UH’s new Diabetes Research and Wellness Center, CIA’s new interactive media lab, Hyland Software’s training center, ECDI’s small business administration lending center and women’s resource center, as well as a brewery and community-led music venue.
PRINCETON, IND. — Cushman & Wakefield has brokered the sale of Circle Point Villas in Princeton, a city in Southwest Indiana. The sales price was undisclosed. The build-to-rent (BTR) community features 125 homes that average 1,220 square feet. Construction of the 19-acre development concluded this year. George Tikijian, Hannah Ott and Cameron Benz of Cushman & Wakefield represented the seller, Reinbrecht Homes. The asset sold to a joint venture between JMF Capital and Yellowstone Property Group. The deal marks the first investment sale of a purpose-built BTR community in Indiana, according to Cushman & Wakefield.
PROSPECT HEIGHTS, ILL. — Conor Commercial Real Estate, with its partner Globe Corp., has sold Executive Commerce Center in Prospect Heights, a northwest suburb of Chicago. The sales price was undisclosed. The 151,677-square-foot industrial building was developed in 2020 and fully leased in 2021. Syncreon, a third-party logistics provider for Samsung, leased the west half of the building for warehouse and distribution space. Plitek, a local manufacturer of precision die cut components and converted materials, leased the east half for its company headquarters and manufacturing facility. The building features a clear height of 32 feet, 35 truck docks, two drive-in doors and a 60-foot speed bay. Ed Halaburt and John Huguenard of JLL represented Conor, while Mike Sedjo, Jack Brennan and Ben Dickey of CBRE served as Conor’s leasing brokers. McShane Construction Co. and Ware Malcomb made up the design-build team. Wintrust provided construction financing.