AURORA, ILL. — Engineering and consulting firm Crawford, Murphy, Tilly Inc. has renewed its 18,000-square-foot industrial lease at 550-600 N. Commons Drive in Aurora. Jon Springer and Gary Fazzio of CBRE represented the tenant. Clear Height Properties owns the building.
BATAVIA, ILL. — Marcus & Millichap has arranged the sale of a 2,225-square-foot retail building occupied by Starbucks in Batavia for $2 million. Constructed in 2022, the net-leased, build-to-suit property is located at the intersection of Randall Road and McKee Street. The building features a drive-thru and outdoor seating. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a Chicagoland limited liability company. The duo also secured and represented the buyer, a Wisconsin-based private investor.
SCHAUMBURG, ILL. — Lee & Associates has negotiated the sale of a 12,500-square-foot property formerly occupied by Frankly Yours restaurant in Schaumburg for an undisclosed price. Rick Scardino and Michael Petrik of Lee & Associates represented the buyer, the Village of Schaumburg. Attorney Steven Dobrofsky represented the seller, Chicago Title Land Trust Co.
KENT, OHIO — The Cooper Commercial Investment Group has brokered the $1.9 million sale of a single-tenant, ground-leased property occupied by Taco Bell in Kent. Constructed in 2019, the net-leased building serves as an outparcel to Maplecrest, a shopping center anchored by Meijer and Menard’s. Dan Cooper of Cooper Group represented the seller, a private investment group based in Northeast Ohio. The undisclosed buyer purchased the asset at 99 percent of the list price, which represented a cap rate of 4.52 percent and $897 per square foot.
WIXOM, MICH. — Torch Tobacco has signed a 1,250-square-foot retail lease at Wixom Charms Plaza in Wixom, a northwest suburb of Detroit. CVS anchors the shopping center, which still has spaces available for lease. Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented the undisclosed landlord. Jonathan Semma of 365 Realty represented the tenant.
CINCINNATI — Nicol Investment Co. has sold the Riverfront Portfolio at The Banks, a mixed-use development in downtown Cincinnati, to Crawford Hoying. The sales price was not disclosed, but the Cincinnati Business Courier reports the assets traded for approximately $177 million. The project consists of two multifamily properties totaling 592 units, Current at the Banks and Radius at the Banks, in addition to approximately 100,000 square feet of ground-floor retail space. The properties are located in the city’s Central Business District, nestled between Great American Ballpark (home of the MLB’s Cincinnati Reds), Paycor Stadium (home of the NFL’s Cincinnati Bengals) and the Ohio River, which separates Ohio from Kentucky. The 300-unit Current at the Banks includes more than 77,000 square feet of ground-floor retail space leased to The Holy Grail, Jefferson Social, Fishbowl and Ruth’s Chris. Radius at the Banks features 292 units as well as 19,000 square feet of ground-floor retail, which includes E+O Kitchen and Taste of Belgium. “Crawford Hoying brings tremendous value to the high-profile project as a manager and operator of various commercial real estate projects throughout Ohio,” says Ron Johnson, chief financial officer at Nicol. “We’d like to thank the CBRE Riverfront Team, led by …
ST. LOUIS — Aptitude Development is set to break ground on The Marshall St. Louis, a 508-bed student housing community located near St. Louis University. Construction is scheduled to begin this spring, with completion anticipated for fall 2025. Amenities will include an expansive hot tub, fitness facility, gaming lounge, collaborative and individual study spaces, café areas and fire pits. Aptitude is a student housing developer based in Elmwood Park, N.J.
BLOOMINGTON, MINN. — SFM Mutual Insurance Co. has renewed its 49,490-square-foot office lease at Northland Center in the Minneapolis suburb of Bloomington. KBS owns the two-building, 492,514-square-foot property. Amenities include a 40,000-square-foot concourse level offering public areas, 5,000-square-foot fitness center, full-service café, training and conference facilities, atrium lounge, onsite car wash and sundry shop. Bill Rothstein of Cushman & Wakefield represented KBS in the lease. KBS recently completed a $1 million renovation of Northland Center.
OMAHA, NEB. — Green Courte Partners LLC, a private equity firm currently investing through its Green Courte Real Estate Partners V investment fund, has acquired Bloomfield, a 95-unit active adult community in Omaha. The purchase price was undisclosed. True Connection Communities, the buyer’s wholly owned operating platform, will manage the community. The company’s operating portfolio now totals 18 communities with roughly 2,700 units. Green Courte plans to renovate units and upgrade the outdoor amenities.
FRANKLIN, OHIO — Marcus & Millichap has brokered the sale of a two-property self-storage portfolio in Franklin, which is located about midway between Dayton and Cincinnati. The sales price was undisclosed. The facilities, which are located within a mile of each other, feature a combined 273 non-climate-controlled units, 61 rentable parking spaces and two rentable office spaces. The portfolio is 78 percent occupied. Gabriel Coe, Brett Hatcher and Nathan Coe of Marcus & Millichap represented the seller, a limited liability company. The portfolio sold to an out-of-state buyer as part of a multi-state portfolio sale.