GRAND RAPIDS, MICH. — Marcus & Millichap has brokered the $1.4 million sale of a 2,450-square-foot restaurant property net leased to Domino’s in Grand Rapids. The freestanding building, located at 6539 28th St., recently underwent a major remodel. John Nuzman of Marcus & Millichap represented the seller, a west Michigan-based development company. An all-cash buyer based in Virginia purchased the asset.
INDIANAPOLIS — NexCore Group has unveiled plans to develop Waterway Labs at 16 Tech in Indianapolis. Cushman & Wakefield will provide leasing services for the $60 million development. NexCore expects to break ground in 2024 on the 100,000-square-foot life sciences building. The project will be situated within the 16 Tech Innovation District, which is a 50-acre destination for entrepreneurship and innovation that is located adjacent to the future campuses of Indiana University Indianapolis and Purdue University in Indianapolis. The five-story development will include two types of space as part of NexCore’s HATCHspaces operating platform: HATCHlabs and HATCHx. HATCHlabs will include four levels with 22,000-square-foot floorplates. The HATCHx floor will offer eight turnkey lab suites of 2,000 square feet as well as 10 offices in a coworking environment. Jon Owens and Joshua Graham of Cushman & Wakefield will handle leasing for Waterway Labs.
LIBERTY, MO., AND STRONGSVILLE, OHIO — Trident Capital Group has acquired two Class A warehouses in Missouri and Ohio for an undisclosed price. In Liberty, Mo., Trident acquired Heartland Meadows Commerce Center, which totals 181,321 square feet. The asset was fully occupied by two tenants at the time of sale and marks Trident’s first investment in the Kansas City market. Separately, Trident expanded its presence in Ohio with the acquisition of a 185,210-square-foot building located within the Mills Business Park in Strongsville, a suburb of Cleveland. The facility was fully leased to three tenants at the time of sale. Trident worked with CBRE on the acquisitions. Sellers were not provided.
ELK GROVE VILLAGE, ILL. — Logisteed America Inc., a provider of transportation and logistics services, has renewed its 106,100-square-foot industrial lease at 2551-2561 Allan Drive in the Chicago suburb of Elk Grove Village. Kenneth Franzese and John Cassidy of Lee & Associates represented the tenant. Jonathan Kohn and Chris Volkert of Colliers represented the landlord, LaSalle Investment Management.
CHICAGO — MonoSol has signed a 35,021-square-foot lease for a new innovation and technical center located within Fulton Labs in Chicago’s Fulton Market. Headquartered in Northwest Indiana, MonoSol is a sustainable material science company that is a division of Tokyo-based Kuraray Group. The company is best known for its water-soluble, biodegradable films that are used to make laundry and dishwashing detergent packets for many household brands. When open in mid-2024, MonoSol’s innovation center will occupy the last full floor at 1375 West Fulton. The deal brings the 300,000-square-foot life sciences building to about 98 percent leased. Dan Lyne and Kelsey Scheive of CBRE represented ownership, Trammell Crow Co. Andrew Urban and David Burden of Colliers represented the tenant.
SHOREWOOD, ILL. — Quantum Real Estate Advisors Inc. has brokered the $1.8 million sale of a 15,507-square-foot retail center in Shorewood, about 45 miles southwest of Chicago. Built in the mid-2000s and located on Brook Forest Avenue, the property was 85 percent leased at the time of sale and is shadow anchored by Jewel-Osco. Chad Firsel and Dan Waszak of Quantum represented the seller, an investor based in California. An Indiana-based private investor was the buyer.
ST. LOUIS — Passco Cos. has acquired Cortona at Forest Park, a 278-unit apartment complex in St. Louis. The purchase price was undisclosed. Built in 2014, the Class A community is situated near Forest Park and the Central West End neighborhood. The five-story property is 93 percent leased. Amenities include a pool, fitness center, dog park and pet spa. Kevin Girard, Mark Stern and Zach Kaufman of JLL represented the seller, Invesco Real Estate. Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing on behalf of Passco. With this transaction, Passco has surpassed $4 billion in assets under management, with $250 million designated in the Midwest region.
LOMBARD AND LISLE, ILL., AND PEWAUKEE, WIS. — Newmark has brokered four sales across three office assets in Illinois and Wisconsin. Newmark represented Brennan Investment Group in the $25.9 million sale of Woodlake Corporate Park in Lombard, Ill., in two transactions. Five buildings sold to Avalair Group, while two buildings sold to Woodside Capital Partners. Newmark also represented the sellers in the $19.2 million sale of 2300 Cabot Drive in Lisle, Ill., and One & Two Riverwood Place in Pewaukee, Wis. Bridge Investment Group sold 2300 Cabot Drive to Urban Commercial Property Group. The Broe Group sold One & Two Riverwood Place to Woodside Capital Partners. Jim Postweiler, Peter Harwood, Derek Fohl and Jack Trager of Newmark were the brokers involved in the transactions.
KENOSHA, WIS. — Brinkmann Constructors has completed two speculative industrial buildings totaling 1.2 million square feet at Flint 94 Commerce Center, a 128-acre industrial park in Kenosha. Flint Development is the developer. One of the buildings totals 735,000 square feet, while the other spans 510,000 square feet. Both facilities feature a shipping office build-out and amenities such as ample heavy trailer parking, ESFR sprinklers and LED lighting.
ROSELLE, ILL. — DMG Capital, the multifamily investment affiliate of Chicago-based Daniel Management Group (DMG), has acquired Roselle Luxury Apartments in the Chicago suburb of Roselle for an undisclosed price. DMG Capital partnered with JDI Realty and The Wolcott Group, two Chicago-based real estate investment firms, to acquire the 72-unit apartment community. DMG has managed Roselle Luxury Apartments since September 2022. All of the property’s units are two-bedroom layouts. The seller was undisclosed.