Midwest

Primient Signs 23,725 SF Lease at Woodfield Preserve Office Center in Schaumburg, Illinois

by Kristin Harlow June 30, 2023

SCHAUMBURG, ILL. — Primient, a producer of food and industrial products from plant-based, renewable sources, has signed a 23,725-square-foot lease at Woodfield Preserve Office Center in the Chicago suburb of Schaumburg. Zeller owns the 29-acre office campus, which totals 325,000 square feet across two buildings. Each building features a full set of amenities such as a café, fitness center, conference center, game room, mother’s room, bike storage area and tenant lounges. There is also a new courtyard with shaded pergolas and seating. William Elwood, Rob Graham and Adam Lawler of CBRE represented Zeller, while Paul Diederich of CBRE represented the tenant. JC Anderson is completing the interior build-out for Primient.

June 30, 2023

Kansas Leasing Activity Midwest Retail

Flying Cow Gelato, Made in KC to Open at Edison District in Overland Park, Kansas

by Kristin Harlow June 30, 2023

OVERLAND PARK, KAN. — Flying Cow Gelato and Made in KC have inked retail leases to open at the Edison District in Overland Park. The tenants will occupy 1,400 and 1,575 square feet, respectively. The transactions mark Flying Cow Gelato’s third location and Made in KC’s 12th location in the area. Made in KC is scheduled to open in July, with Flying Cow Gelato opening in the fall. The Edison District, owned by Overland Park Real Estate, features a mix of office, retail, restaurant and outdoor space. JLL negotiated the leases on behalf of ownership. The retail space at the Edison District is now fully leased. Made in KC sells local goods, gifts and apparel. Flying Cow Gelato makes fresh gelato every day and is the sister store to Annedore’s Fine Chocolates.

June 30, 2023

Development Healthcare Midwest Wisconsin

Kraus-Anderson to Break Ground on $64.8M Hospital in Darlington, Wisconsin

by Kristin Harlow June 29, 2023

DARLINGTON, WIS. — Kraus-Anderson will soon break ground on Memorial Hospital of Lafayette County, a $64.8 million replacement hospital and clinic building in Darlington, a city in Southwest Wisconsin. The current facility has provided a full range of acute care inpatient and outpatient services since 1952. Designed by Eppstein Uhen Architects, the 80,000-square-foot hospital will feature a new emergency department, diagnostic imaging, surgical services with two operating rooms, a procedure room, medical and surgical unit, pharmacy, rehabilitation and a vision clinic with a retail eye shop. The project will also include space for behavioral health and mindfulness sessions as well as a 3,600-square-foot standalone building that will house two residency units and a garage for maintenance storage. The project received various loans, all of which will be paid for by the proceeds of the hospital. The project was also awarded $14 million in additional grant funds. Completion is slated for fall 2024. The current facility will remain in operation during construction.

June 29, 2023

Acquisitions Kansas Midwest Multifamily

Berkadia Arranges Sale of 395-Unit Apartment Community in Merriam, Kansas

by Kristin Harlow June 29, 2023

MERRIAM, KAN. — Berkadia has arranged the sale of Georgetown Apartments in Merriam, a southwest suburb of Kansas City. The sales price was undisclosed. The 395-unit apartment community is situated on 33 acres at 7200 Eby Drive. The property was built in 1965, according to Apartments.com. Amenities include a pub room, billiards room, fitness center, indoor and outdoor swimming pools, a clubhouse, event space and laundry facilities. Pete Evans, Michael Spero and Kevin Jury of Berkadia represented the seller, New York-based Malkin Properties, and the buyer, Illinois-based Artisan Capital Group. John Schorgl of Berkadia structured a five-year acquisition loan through Freddie Mac.

June 29, 2023

Acquisitions Industrial Michigan Midwest Ohio

Marcus & Millichap Brokers $10M Sale-Leaseback of Industrial Portfolio in Ohio, Michigan

by Kristin Harlow June 29, 2023

OHIO AND MICHIGAN — Marcus & Millichap has brokered the $10 million sale-leaseback of a three-property industrial portfolio in Ohio and Michigan. The tenant is WW Williams, a truck and diesel engine maintenance and repair company. The properties are located in Cleveland and Brunswick, Ohio, as well as Dearborn, Mich. Alex Frankel, Chris Lind and Mark Ruble of Marcus & Millichap represented the seller and procured the buyer, a limited liability company.

June 29, 2023

Industrial Loans Midwest Ohio Self-Storage

Red Oak Capital Provides $5.5M Bridge Loan for Acquisition, Conversion of Former Kmart Store in Ohio

by Kristin Harlow June 29, 2023

ENGLEWOOD, OHIO — Red Oak Capital Holdings LLC has provided a $5.5 million bridge loan for the acquisition and conversion of a former Kmart store in Englewood, a northwest suburb of Dayton. The borrower, United Storage 360 LLC, plans to convert the property into an Extra Space Storage-branded facility. The site includes an 85,000-square-foot building that was constructed in 1975. Redevelopment plans call for a 60,000-square-foot self-storage facility with 546 units. The borrower plans to exit Red Oak’s bridge loan with permanent financing or a sale following completion of renovations, which are scheduled for later this year.

June 29, 2023

Illinois Industrial Leasing Activity Midwest

Eaglestone Manufacturing Signs 85,608 SF Industrial Sublease in Naperville, Illinois

by Kristin Harlow June 29, 2023

NAPERVILLE, ILL. — Eaglestone Manufacturing has signed an 85,608-square-foot industrial sublease at 1560 Fronternac Road in the Chicago suburb of Naperville. Eaglestone is a manufacturer of production line equipment such as conveyor belts and sorting systems. The property was constructed in 1988 and features a newly renovated 4,500-square-foot office space as well as a clear height of 22 feet, six interior docks, two drive-in doors and ample parking. Eaglestone expects to take occupancy in the fourth quarter. Mandy Lewandowski and Luke Ferzacca of DarwinPW Realty/CORFAC International represented the undisclosed sublessor. Nick Eboli and Andrew Block of Lee & Associates represented Eaglestone.

June 29, 2023

Acquisitions Industrial Midwest Minnesota

KCB Real Estate Acquires 740,000 SF Industrial Portfolio in Minnesota, Kentucky

by Kristin Harlow June 28, 2023

EDEN PRAIRIE, MINN. — KCB Real Estate has acquired a 740,000-square-foot industrial portfolio across two states for an undisclosed price. The portfolio includes a flex warehouse facility in Eden Prairie, a suburb of Minneapolis, as well as two distribution facilities in Bowling Green, Ky. The Bowling Green properties were built in 1990 and 2017, while the Eden Prairie facility was constructed in 1982. All the buildings feature multiple loading docks, and the Kentucky properties include automated warehouse management systems. KCB is an investment firm based in Pasadena, Calif.

June 28, 2023

Acquisitions Industrial Iowa Midwest

Dignity Apparel Purchases 77,000 SF Manufacturing Building in Waterloo, Iowa

by Kristin Harlow June 28, 2023

WATERLOO, IOWA — Through real estate holding company JP Management Corp., Dignity Apparel LLC is purchasing a 77,000-square-foot manufacturing building in Waterloo, just south of Cedar Falls. The transaction, including remodeling space and purchasing equipment and software, represents a capital investment of $4.5 million. Dignity Apparel manufactures garments with domestically sourced fabrics for Image Pointe, its wholly owned subsidiary. The Iowa Economic Development Authority board awarded tax benefits for the acquisition through the High Quality Jobs program. Dignity Apparel plans to create 40 to 55 new jobs in Waterloo.

June 28, 2023

Acquisitions Illinois Lee & Associates Midwest Restaurant Retail

Lee & Associates Brokers Sale of Undeveloped Retail Pad Site in Schaumburg, Illinois

by Kristin Harlow June 28, 2023

SCHAUMBURG, ILL. — Lee & Associates has brokered the sale of a 1.7-acre retail pad site located at 40 S. Roselle Road in the Chicago suburb of Schaumburg. The sales price was undisclosed. The transaction marks the final undeveloped site in the Town Square development. Rick Scardino of Lee & Associates represented the seller, the Village of Schaumburg. Simeon Spirrison of Adelphia Properties represented the buyer, SD Construct. The buyer plans to build a two-story, 6,342-square-foot HopScotch pub-themed restaurant.

June 28, 2023

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