MINNEAPOLIS — Kraus-Anderson has completed construction on a 15,314-square-foot office build-out for Grant Thornton LLP at the Steelman Exchange building in Minneapolis. Grant Thornton is an audit, tax and advisory firm. The Steelman Exchange building is located at 241 5th Ave. North in the city’s North Loop. The new office features workspaces and layouts designed for collaboration. LB Design Group was the architect.
SANDUSKY, OHIO AND ARLINGTON, TEXAS — Sandusky-based Cedar Fair Entertainment Co. (NYSE: FUN) and Arlington-based Six Flags Entertainment Corp. (NYSE: SIX) have entered into a definitive merger agreement to combine in a merger of equals transaction. The all-stock deal values the combined company at approximately $8 billion, including debt. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cedar Fair investors will receive one share of common stock for each unit they own, and Six Flags shareholders will receive .58 shares for each share they own. Following the close of the transaction, Cedar Fair unitholders will own approximately 51.2 percent and Six Flags shareholders will own about 48.8 percent of the combined company’s equity. “Our merger with Six Flags will bring together two of North America’s iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance,” says Richard Zimmerman, president and CEO of Cedar Fair. The combined company will operate a portfolio of 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada and Mexico. The companies expect the merger to …
CREST HILL, ILL. — JLL Capital Markets has negotiated the sale of Woodlands of Crest Hill for $95 million. The 730-unit apartment community is located in Crest Hill, a southwest suburb of Chicago. Built in 1972, the property has undergone various renovations since 2018. Woodlands of Crest Hill offers studio, one- and two-bedroom units with an average size of 649 square feet. Amenities include a pool, sundeck, clubroom and fitness center. Kevin Girard, Mark Stern and Zach Kaufman of JLL represented the sellers, a fund managed by DRA Advisors and Marquette Cos. Buyer information was not provided.
GENEVA, ILL. — Mid-America Real Estate Corp. has arranged the sale of Randall Square in Geneva, a western suburb of Chicago. The sales price was undisclosed. The 226,029-square-foot shopping center is home to Marshalls, Michaels, Ulta, Old Navy, PetSmart, Men’s Wearhouse and more. Joe Girardi, Rick Drogosz and Ben Wineman of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Viking Partners was the buyer. Pine Tree served as property manager.
INDIANAPOLIS — Colliers has brokered the sale of Northview Mall, a 48,028-square-foot retail center located at 1700 E. 86th St. in Indianapolis. The sales price was undisclosed. Situated on four acres, the property is fully leased to 20 tenants. Some of the tenants include Fit Flex Fly, Moody’s Butcher Shop, Nutrition Hub, Indy Sports Massage, Parkside Linen, Willow and Star Flowers. Alex Cantu, Alex Davenport and Rachel Patten of Colliers represented the buyer, an affiliate of Podell Partners. The seller was a local private investor.
CHICAGO — Heisler Hospitality has signed a 10,000-square-foot lease to occupy the entire building at 165 N. Morgan St. in Chicago’s Fulton Market. Heisler, led by entrepreneur Matt Eisler and designer Kevin Heisner, plans to open Pizza Lobo in the space in summer 2024. The lease marks Heisler’s fourth establishment in Chicago. The restaurateurs also operate Nights & Weekends and Lone Wolf in the West Loop and Estereo FM in Fulton Market. Fulton Street Cos. (FSC) owns the building at 165 N. Morgan St. along with partner Fred Latsko of Latsko Interests, which brought Guinness Open Gate Brewery to Chicago. FSC purchased the single-tenant property in December 2021 from a private investor. Previously housing the corporate offices of Tenzing Wine & Spirits, the building features a private, 2,500-square-foot outdoor courtyard.
CHICAGO — Onni Group is nearing completion of the renovation of 200 N LaSalle Street in Chicago. The owner expects to finish the project by the end of the year. Onni purchased the 643,323-square-foot office building in 2012. The third floor of the property is being transformed with a new tenant lounge and bar, refreshed conference center with seating for up to 150 people, private lounge for hosting events, café and bar seating, wine and whiskey lockers, an upgraded fitness center, massage and treatment room, and multiple wellness rooms. Additional features include a lobby-level lounge and game room, golf simulator, arcade games, seating areas, a catering kitchen, secure indoor bike parking and changing rooms. Mark Gunderson and Ben Cleveland of Stream Realty Partners handle leasing for the property. Since earlier this year, the duo has leased more than 60,000 square feet of office space at the property to companies such as Wasserman, CoxReps, The Planet Group and Everest Transportation Systems.
MINNEAPOLIS — U.S. Bancorp has renewed its 447,000-square-foot lease for its office headquarters at 800 Nicollet Mall in Minneapolis. Brent Erickson and Callie Ronkowski of Newmark represented the owner, Piedmont Office Realty Trust Inc., while JLL represented the tenant. U.S. Bancorp is the parent company of US Bank, the fifth-largest commercial bank in the country, according to Newmark. US Bank has occupied the property, which is also named U.S. Bancorp Center, since 2000. Piedmont acquired the building in 2003. Amenities include a 12,500-square-foot amenity space on the top floor with a fitness center and conference rooms. The property will soon welcome 801 Fish, a fine dining seafood restaurant, and undergo a two-story lobby renovation to include additional tenant collaboration lounges and an onsite coffee lounge.
ROMEOVILLE, ILL. — Colliers has brokered the sale of two recently constructed industrial facilities totaling 897,840 square feet in the Chicago suburb of Romeoville. The sales price was undisclosed. The buildings are located in the Weber 55 Logistics Park at the corner of Weber and Taylor roads. One of the buildings totals 627,840 square feet and is leased to RJW Logistics, while the other property spans 270,000 square feet and was vacant at the time of sale. Jeff Devine and Steve Disse of Colliers represented the seller, Molto Properties. The buyer was an institutional investor advised by Principal Asset Management.
MILWAUKEE AND BROOKFIELD, WIS. — MLG Capital has acquired three multifamily properties in metro Milwaukee. Trostel Square is a 99-unit property located at 1818 N. Commerce St. in Milwaukee. The mid-rise community features direct access to Milwaukee’s River Walk and is situated in the city’s Brewers Hill neighborhood. Norhardt Crossing and Norhardt Apartments are both located on Norhardt Drive in Brookfield. Together, the two properties total 211 units and share a full amenity set at Norhardt Crossing. The seller and sales price were not provided.
