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Midwest

DevelopmentMidwestMissouriMultifamily

Brinkmann Constructors Completes 152-Unit Apartment Complex in Suburban St. Louis

by Kristin Harlow

KIRKWOOD, MO. — Brinkmann Constructors has completed The James, a 152-unit apartment complex in the western St. Louis suburb of Kirkwood. High Street Residential, a subsidiary of Trammell Crow Co., was the developer. The five-story development includes 285 parking spaces and 7,000 square feet of retail space. Amenities include a pool, courtyard, entertainment lounge, fitness center, pet spa, work-from-home space and coffee bar. ESG Architecture & Design served as the project architect. Monthly rents start at $1,603, according to the property’s website.

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DevelopmentIndustrialIowaMidwest

Houghton Properties Delivers 15,000 SF Flex Warehouse in Des Moines

by Kristin Harlow

DES MOINES, IOWA — Houghton Properties LLC has completed development of a new 15,000-square-foot flex warehouse in Des Moines. Located at 4410 E. 50th St., the property features a clear height of 20 feet, two drive-in doors and 2.5 acres of outdoor storage. Mick Grossman of KW Commercial is the leasing agent for the building.

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AcquisitionsMidwestMinnesotaMultifamily

CBRE Negotiates Sale of 168-Unit Multifamily Property in Eagan, Minnesota

by Kristin Harlow

EAGAN, MINN. — CBRE has negotiated the sale of Lexington Hills, a 168-unit multifamily property in the Minneapolis suburb of Eagan. The sales price was undisclosed. Built in 1988, the community is located at 4116 Lexington Ave. South and comprises seven buildings. Floor plans average 723 square feet. Amenities include a fitness center, clubhouse, grilling area, playground, pool and laundry facilities. Ted Abramson, Keith Collins and Abe Appert of CBRE represented the seller, Monument Frozen Tundra LLC. Reacor Ltd. was the buyer.

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AcquisitionsIllinoisIndustrialMidwest

Seefried Properties Sells 144,414 SF Industrial Building in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — Seefried Properties has sold a 144,414-square-foot industrial building in Elgin for an undisclosed price. Jason West and Doug Pilcher of Cushman & Wakefield represented Seefried in the sale. Noel Liston of Core Industrial Realty represented the buyer, a custom plastic molded parts manufacturer. Located at 1705 Madeline Lane, the property features a clear height of 32 feet, 19 dock doors, two drive-in doors and 205 car parking stalls. The facility is part of a two-building campus totaling 465,360 square feet. The second building is under construction, and Seefried is actively seeking users to lease or purchase the property.

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AcquisitionsIndustrialMichiganMidwest

Coldwell Banker Commercial Arranges $6.1M Sale of Manufacturing Facility in Jenison, Michigan

by Kristin Harlow

JENISON, MICH. — Coldwell Banker Commercial has arranged the $6.1 million sale of a 64,035-square-foot manufacturing facility in Jenison near Grand Rapids. The property is located at 2206 Pine Ridge Drive within Georgetown Industrial Center. The building features a clear height of 25 feet, cranes, four docks and four overhead doors. Jim Edewaard of Coldwell Banker Commercial Woodland-Schmidt represented the seller, Altron Automation. The company manufactures automated tooling and equipment and continues to operate two facilities in Hudsonville, Mich. Pleotint, a glass fabrication company, was the buyer.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $3.2M Sale of Apartment Building in Chicago’s Buena Park

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $3.2 million sale of a 12-unit apartment building in Chicago’s Buena Park neighborhood. Located on North Kenmore Avenue, the property was originally built in 1896 and last renovated in 2014. Situated three blocks from Wrigley Field, the asset was fully occupied at the time of sale. Joe Smazal, Patrick Kennelly and Paul Waterloo of Interra represented the buyer, Drexel Properties, and the seller, a private investor.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Negotiates $2.7M Sale of Two-Tenant Retail Property in Waukegan, Illinois

by Kristin Harlow

WAUKEGAN, ILL. — Marcus & Millichap has negotiated the $2.7 million sale of a two-tenant retail property in the Chicago suburb of Waukegan. The 7,100-square-foot asset is home to Tropical Smoothie Café and Ivy Hall dispensary. The property at 992 S. Waukegan Road serves as an outlot to a casino and hotel that are currently under construction and slated to open in 2025. Both tenants’ leases feature 10 percent rental increases every five years. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not released.

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DevelopmentIndustrialKansasMidwest

Honeywell to Invest $84M in Kansas Manufacturing Facility

by Kristin Harlow

OLATHE, KAN. — Honeywell has unveiled plans to invest $84 million to expand its aerospace manufacturing facility in Olathe, a southern suburb of Kansas City, according to Gov. Laura Kelly. The investment is expected to create 156 new jobs, generate nearly $47 million in total gross domestic product and contribute $18.3 million in state and local taxes in its first six years. The expansion will create one of Honeywell’s most technologically advanced aerospace manufacturing facilities. The 560,000-square-foot property currently manufactures components for Honeywell’s avionics, safety and flight control systems, complex radio frequency systems for traffic collision avoidance, radar altimeters and weather radar.

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AcquisitionsMichiganMidwest

Colliers Arranges Sale of 79-Acre Land Site in Auburn Hills, Michigan

by Kristin Harlow

AUBURN HILLS, MICH. — Colliers has arranged the sale of 79 acres of land at 4250 Interpark Drive in Auburn Hills for an undisclosed price. In the early 1960s, the site was developed as the Silver Bell Ski Lodge using fill materials with potential contaminants. Environmental controls for the site were minimal due to the remote location. The original developers went bankrupt in the late 1960s, and a new company took over. For about a decade, the new company operated a substandard landfill, lacking modern standards, proper liners and systems for leachate and methane gas treatment. Operations ceased in 1979, leaving an environmental mess. The buyer, Crown Enterprises LLC, is a metro Detroit-based firm that specializes in building and leasing turnkey properties for large companies. Paul Gyarmati and Chris Pochas of Colliers represented the buyer and seller in the transaction. The land sits within a key supply corridor for General Motors, according to Crain’s Detroit Business.

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AcquisitionsIllinoisIndustrialMidwest

Marcus & Millichap Negotiates $9.9M Sale of Industrial Property in Lake Bluff, Illinois

by Kristin Harlow

LAKE BLUFF, ILL. — Marcus & Millichap has negotiated the $9.9 million sale of a 67,879-square-foot industrial property in Lake Bluff, a northern suburb of Chicago. The property consists of two multi-tenant buildings located on North Skokie Highway. Adam Abushagur, Nicholas Kanich and Tyler Sharp of Marcus & Millichap represented the seller, a private investor. Buyer information was not provided.

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