MINNEAPOLIS — Northmarq has arranged a $9.5 million agency loan for the refinancing of Isles East and West, an 85-unit apartment complex in Minneapolis. Originally built in 1922, the property rises three stories and features laundry facilities, a courtyard and car charging stations. Mike Padilla of Northmarq arranged the five-year, fixed-rate loan, which features three years of interest-only payments and a 30-year amortization schedule. The borrower was undisclosed.
FISHERS, IND. — The Klink Group of Marcus & Millichap has brokered the sale of Pine Creek Shoppes in the Indianapolis suburb of Fishers for $3.3 million. Constructed in 2000, the retail center is located at 8958 E. 96th St. Tenants include H&R Block, Nail Bar, Bailey & Wood Mortgage and Moon Face & Body Studio. Jordan Klink of the brokerage represented the seller, Vamoz LTD, a private investor based in New York. Matthew Ferguson and Pete Alveal of Premier Commercial procured the buyer, NOC Pine Creek LLC, an Indianapolis-based limited liability company.
CHICAGO — Interra Realty has negotiated the sale of a 36-unit, transit-oriented multifamily property in Chicago’s Fulton River district for $11 million. Located at 851 W. Grand Ave., the building features seven studios, 20 one-bedroom units and nine two-bedroom units. Amenities include a bike room, dry-cleaning pickup, tenant storage, a package room and onsite parking. Constructed in 2017, the property was 95 percent leased at the time of sale. The building is situated one block from the Chicago Transit Authority (CTA) Grand Blue Line station and is also in proximity to several CTA bus routes. David Goss, Jon Morgan and Harrison Pinkus of Interra represented the seller, Monroe Residential Partners. Brad Feldman of Interra represented the buyer, a local private investor.
COLUMBUS, OHIO — Becknell Industrial is underway on the development of Winchester 527, a 527,023-square-foot speculative industrial building in Columbus. The property will feature a clear height of 40 feet, roughly 2,000 square feet of office space, 436 auto parking spaces and 150 trailer parking spaces. Lee & Associates is marketing the project for lease. Completion is slated for later this year.
DES MOINES, IOWA — Northmarq has arranged a $2.6 million loan for the acquisition of an 11,990-square-foot retail property occupied by KinderCare in Des Moines. The daycare facility, built in 2021, is located at 865 S. 51st St. Mike Padilla of Northmarq arranged the 10-year loan, which features a 30-year amortization schedule. A local bank provided the loan for the undisclosed borrower. Founded in 1969, KinderCare operates more than 1,500 centers across the country.
FOND DU LAC, WIS. — Marcus & Millichap has negotiated the $2.4 million sale of St. Peter’s Place, a 46-unit apartment building in Fond du Lac, a city in eastern Wisconsin that is about 60 miles northwest of Milwaukee. Built in 1925 and renovated in 2009, the property features 27 one-bedroom units and 19 two-bedroom units averaging between 652 and 871 square feet. Matthew Whiteside of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company, and procured the buyer, an individual trust.
PARMA, OHIO — SRS Real Estate Partners has brokered the $1.8 million sale of Parma Shoppes, an 8,000-square-foot retail center in Parma, a suburb just south of Cleveland. Built in 2005 and located at 7406 Broadview Road, the property is 80 percent leased to Buffalo Wild Wings, Verizon, Domino’s and Bank of America. Patrick Nutt and William Wamble of SRS represented the seller, RPS Capital. A California-based private investor purchased the asset. The sales price represents a cap rate of 6.9 percent.
CHICAGO — Western Specialty Contractors-Chicago Facades Branch will complete a restoration of the curtain wall at Accenture Tower in Chicago. KBS owns the 42-story Class A office building, which totals nearly 1.5 million square feet. The property, completed in 1987 and formerly known as 500 West Madison, features 80,000 square feet of retail space and sits above the Ogilvie Transportation Center. The restoration of the curtain wall, a project expected to continue through 2025, includes the removal and replacement of the original 35-year-old sealants on the entire 588-foot building’s curtain wall and bridge over Canal Street. A curtain wall system on a building’s façade helps prevent leaks and protects against inclement weather. Project costs were not provided.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of Huron & Wells, a 17,343-square-foot retail property in Chicago’s River North neighborhood. The sales price was undisclosed. A newly renovated CVS store anchors the property. Additional tenants include aesthetic dermatology clinic Laser Away, Japanese restaurant Cocoro and fitness concept Vibez Fit. Joe Girardi and Emily Gadomski of Mid-America represented the Chicago-based private seller. Josh York of Syndicated Equities represented the California-based 1031 exchange buyer.
ELGIN, ILL. — MAI Fulfillment has signed a 247,000-square-foot industrial lease at 2500 Galvin Drive in Elgin. MAI provides order processing, warehousing services and fulfillment solutions for its clients. The building features a clear height of 30 feet and 36 truck docks. Mike Berkowitz of Entre Commercial Realty represented the tenant. Steve Bass of NAI Hiffman represented the landlord, High Street Logistics Properties.
