Midwest

DARLINGTON, WIS. — Kraus-Anderson will soon break ground on Memorial Hospital of Lafayette County, a $64.8 million replacement hospital and clinic building in Darlington, a city in Southwest Wisconsin. The current facility has provided a full range of acute care inpatient and outpatient services since 1952. Designed by Eppstein Uhen Architects, the 80,000-square-foot hospital will feature a new emergency department, diagnostic imaging, surgical services with two operating rooms, a procedure room, medical and surgical unit, pharmacy, rehabilitation and a vision clinic with a retail eye shop. The project will also include space for behavioral health and mindfulness sessions as well as a 3,600-square-foot standalone building that will house two residency units and a garage for maintenance storage. The project received various loans, all of which will be paid for by the proceeds of the hospital. The project was also awarded $14 million in additional grant funds. Completion is slated for fall 2024. The current facility will remain in operation during construction.

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MERRIAM, KAN. — Berkadia has arranged the sale of Georgetown Apartments in Merriam, a southwest suburb of Kansas City. The sales price was undisclosed. The 395-unit apartment community is situated on 33 acres at 7200 Eby Drive. The property was built in 1965, according to Apartments.com. Amenities include a pub room, billiards room, fitness center, indoor and outdoor swimming pools, a clubhouse, event space and laundry facilities. Pete Evans, Michael Spero and Kevin Jury of Berkadia represented the seller, New York-based Malkin Properties, and the buyer, Illinois-based Artisan Capital Group. John Schorgl of Berkadia structured a five-year acquisition loan through Freddie Mac.

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OHIO AND MICHIGAN — Marcus & Millichap has brokered the $10 million sale-leaseback of a three-property industrial portfolio in Ohio and Michigan. The tenant is WW Williams, a truck and diesel engine maintenance and repair company. The properties are located in Cleveland and Brunswick, Ohio, as well as Dearborn, Mich. Alex Frankel, Chris Lind and Mark Ruble of Marcus & Millichap represented the seller and procured the buyer, a limited liability company. 

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ENGLEWOOD, OHIO — Red Oak Capital Holdings LLC has provided a $5.5 million bridge loan for the acquisition and conversion of a former Kmart store in Englewood, a northwest suburb of Dayton. The borrower, United Storage 360 LLC, plans to convert the property into an Extra Space Storage-branded facility. The site includes an 85,000-square-foot building that was constructed in 1975. Redevelopment plans call for a 60,000-square-foot self-storage facility with 546 units. The borrower plans to exit Red Oak’s bridge loan with permanent financing or a sale following completion of renovations, which are scheduled for later this year.

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NAPERVILLE, ILL. — Eaglestone Manufacturing has signed an 85,608-square-foot industrial sublease at 1560 Fronternac Road in the Chicago suburb of Naperville. Eaglestone is a manufacturer of production line equipment such as conveyor belts and sorting systems. The property was constructed in 1988 and features a newly renovated 4,500-square-foot office space as well as a clear height of 22 feet, six interior docks, two drive-in doors and ample parking. Eaglestone expects to take occupancy in the fourth quarter. Mandy Lewandowski and Luke Ferzacca of DarwinPW Realty/CORFAC International represented the undisclosed sublessor. Nick Eboli and Andrew Block of Lee & Associates represented Eaglestone.

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EDEN PRAIRIE, MINN. — KCB Real Estate has acquired a 740,000-square-foot industrial portfolio across two states for an undisclosed price. The portfolio includes a flex warehouse facility in Eden Prairie, a suburb of Minneapolis, as well as two distribution facilities in Bowling Green, Ky. The Bowling Green properties were built in 1990 and 2017, while the Eden Prairie facility was constructed in 1982. All the buildings feature multiple loading docks, and the Kentucky properties include automated warehouse management systems. KCB is an investment firm based in Pasadena, Calif.

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WATERLOO, IOWA — Through real estate holding company JP Management Corp., Dignity Apparel LLC is purchasing a 77,000-square-foot manufacturing building in Waterloo, just south of Cedar Falls. The transaction, including remodeling space and purchasing equipment and software, represents a capital investment of $4.5 million. Dignity Apparel manufactures garments with domestically sourced fabrics for Image Pointe, its wholly owned subsidiary. The Iowa Economic Development Authority board awarded tax benefits for the acquisition through the High Quality Jobs program. Dignity Apparel plans to create 40 to 55 new jobs in Waterloo.

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SCHAUMBURG, ILL. — Lee & Associates has brokered the sale of a 1.7-acre retail pad site located at 40 S. Roselle Road in the Chicago suburb of Schaumburg. The sales price was undisclosed. The transaction marks the final undeveloped site in the Town Square development. Rick Scardino of Lee & Associates represented the seller, the Village of Schaumburg. Simeon Spirrison of Adelphia Properties represented the buyer, SD Construct. The buyer plans to build a two-story, 6,342-square-foot HopScotch pub-themed restaurant.

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BROADVIEW, ILL. — Arrow Pneumatics Inc. has signed a renewal for its industrial lease at 2101 W. 21st St. in Broadview, a western suburb of Chicago. The tenant, which manufactures and distributes air preparation products, occupies the entire 43,175-square-foot building. Constructed in 1973, the property features 78 parking spaces and offers convenient access to I-290, I-294 and I-55. Mandy Lewandowski of DarwinPW Realty/CORFAC International represented the owners, Welbic III Broadview 21 LLC and Speedwagon Capital Partners. The tenant was self-represented.

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NORMAL, ILL. — AXIS 360 Commercial Real Estate Specialists has arranged the $1.1 million sale of a 19,840-square-foot office building in Normal, just north of Bloomington. The two-story property at 1606 Hunt Drive formerly served as the home of Marcfirst, a nonprofit organization that serves to improve the lives of individuals with disabilities. Michael O’Neal and Meghan O’Neal-Rogozinski of AXIS 360 represented the seller, Marcfirst, which outgrew the building and vacated it earlier this year. O’Neal-Rogozinski represented the undisclosed buyer, which plans to fully remodel the building.

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