WOODBURY, MINN. — Montecito Medical has acquired a 32,711-square-foot medical office building in the Twin Cities suburb of Woodbury for an undisclosed price. The property is home to Minnesota Women’s Care, which serves patients throughout the Twin Cities area and western Wisconsin. The group maintains four office locations across this area. The seller was undisclosed.
SUN PRAIRIE, WIS. — McShane Construction Co. has completed The Wildwood at Main in Sun Prairie, a northwest suburb of Madison. Roers Cos. was the developer. The 172-unit affordable housing community is comprised of two buildings at 150 Schneider Road. Units come in one, two- and three-bedroom layouts. Amenities include a clubroom, fitness center, yoga studio, outdoor patio, playground and storage lockers. A heated underground parking garage provides 209 spaces for residents. Korb + Associates provided architectural services. Income restrictions for residents were not disclosed.
ROCKFORD, ILL. — PACE Equity has provided $10.9 million in Commercial Property Assessed Clean Energy (C-PACE) financing for a multifamily conversion project in Rockford. The C-PACE capital will help fund energy-efficient improvements for a 215-unit multifamily development to be built at 150 Loomis St. Specifically, the financing is for HVAC, LED lighting, windows, walls, roof and water conservation improvements. The property previously served as industrial space and consists of two buildings. The Illinois Energy Conservation Authority (IECA), an Illinois tax-exempt 501(c)(3) nonprofit organization, worked to close the financing with PACE Equity.
VERNON HILLS, ILL. — PREMIER Design + Build Group will soon break ground on a new headquarters for Heathrow Scientific, a global manufacturer of laboratory supplies and instruments designed to support scientific research, analysis and experimentation. The new facility will be located at 440 N. Fairway Drive in the Chicago suburb of Vernon Hills and will house the company’s manufacturing, laboratory and office operations. Construction of the two-story, 112,000-square-foot building will commence once demolition of an existing structure on the site is complete. The project will feature a large laboratory, employee fitness center, outdoor dining area, 12 dock positions, two drive-in doors and parking for 63 vehicles. Completion is slated for August 2024. PREMIER is actively exploring green building initiatives, including a solar array and hybrid rooftop units that use electricity instead of natural gas. The project team includes Cornerstone Architects Ltd. and SPACECO Inc. as civil engineer. Brett Kroner of Cushman & Wakefield brokered the sale of the site.
WAUCONDA, ILL. — Cherokee Manufacturing has leased a 50,000-square-foot industrial building located at 1225 Karl Court in Wauconda, a far north suburb of Chicago. The property features a clear height of 30 feet, six exterior docks and one drive-in doors. Brian Bocci of Entre Commercial Realty represented the undisclosed landlord, while Joe Karmin of Transwestern represented the tenant.
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.
