MADISON HEIGHTS, MICH. — Meal kit company Hello Fresh has signed a 28,800-square-foot industrial lease at 32701 Edward Ave. in Madison Heights, a northern suburb of Detroit. Sean Jamian of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Colin McCausland of JLL represented the tenant in the five-year lease.
MILWAUKEE — JLL Capital Markets has brokered the sale of Freshwater Apartments in downtown Milwaukee for $17.4 million. The 76-unit apartment building is situated within Freshwater Plaza in the Harbor District. Built in 2017, Freshwater Apartments features studio, one- and two-bedroom units with an average size of 635 square feet. Amenities include a clubroom, rooftop terrace, heated indoor parking garage and bike storage. The community also features 16,645 square feet of retail space that is home to T-Mobile, UPS and Jimmy John’s. Wick Kirby, Amanda Friant and Jaime Fink of JLL represented the seller, Wangard Partners Inc. Bender Cos. was the buyer.
OVERLAND PARK, KAN. — PEBB Enterprises and Contrarian Capital Management have sold the Pinnacle Village shopping center in the Kansas City suburb of Overland Park for $16.8 million. Lawrence, Kan.-based Cherry Hill Properties was the buyer. PEBB and Contrarian purchased Pinnacle Village in May 2018 and enhanced the 108,729-square-foot center through leasing activity and property improvements. DSW and Michaels are anchor tenants at the property, which is 90 percent leased. Additional tenants include Firehouse Subs, Goldfish Swim School and First Watch. Evan Halkias and Jeffrey Benz of Cushman & Wakefield represented the sellers.
BUFFALO GROVE, ILL. — Colliers has arranged the sale of a 226,384-square-foot flex industrial property in the Chicago suburb of Buffalo Grove for an undisclosed price. Constructed in 1985, the building features 90,000 square feet of office space and parking for 600 cars as well as an attached manufacturing facility with a clear height of 21 feet, five interior docks and three exterior docks. Siemens has occupied the property since 1987 and utilizes the space for its U.S. engineering headquarters, which employs more than 800 engineers and manufacturing workers. Jeff Devine and Steve Disse of Colliers represented the seller, a private investor. Lightstone was the buyer.
PERU, ILL. — Associated Bank has provided a $6 million loan for the construction of Diamond Senior Apartments of Peru. The 56-unit seniors housing community will be located at 927 Wenzel Road in Peru, which is situated in North Central Illinois. Developed by 3 Diamond Development, the project will comprise 10 single-story buildings. All units will be restricted to low-income seniors age 55 and older. Twelve of the units will be restricted to residents earning less than 30 percent of the area median income (AMI), while the remaining 44 units will be reserved for those who earn up to 60 percent of AMI. The development will also feature a separate building with an exercise room and community room. Teresa Rubio of Associated Community Development LLC managed the loan and closing.
PLYMOUTH, MINN. — Meritex has completed the redevelopment and lease-up of Building One at Parkers Lake Commerce Center in the Twin Cities suburb of Plymouth. The three-building industrial complex totals 381,349 square feet. Meritex purchased the property in June 2021. Improvements to Building One include new entrances, façade, LED lighting and a new concrete truck court with 24 additional dock-high doors, two drive-in doors and additional parking. Stratasys, a polymer 3D printing solutions company, signed a seven-year lease for the entirety of the building, which spans 168,100 square feet. Jason Meyer and Brent Masica of Cushman & Wakefield represented Meritex in the lease transaction. Jim DePietro of CBRE represented Stratasys.
MILWAUKEE — JLL Capital Markets has brokered the sale of Freshwater Apartments in downtown Milwaukee for $17.4 million. The 76-unit apartment building is situated within Freshwater Plaza in the Harbor District. Built in 2017, Freshwater Apartments features studio, one- and two-bedroom units with an average size of 635 square feet. Amenities include a clubroom, rooftop terrace, heated indoor parking garage and bike storage. The community also features 16,645 square feet of retail space that is home to T-Mobile, UPS and Jimmy John’s. Wick Kirby, Amanda Friant and Jaime Fink of JLL represented the seller, Wangard Partners Inc. Bender Cos. was the buyer.
OVERLAND PARK, KAN. — PEBB Enterprises and Contrarian Capital Management have sold the Pinnacle Village shopping center in the Kansas City suburb of Overland Park for $16.8 million. Lawrence, Kan.-based Cherry Hill Properties was the buyer. PEBB and Contrarian purchased Pinnacle Village in May 2018 and enhanced the 108,729-square-foot center through leasing activity and property improvements. DSW and Michaels are anchor tenants at the property, which is 90 percent leased. Additional tenants include Firehouse Subs, Goldfish Swim School and First Watch. Evan Halkias and Jeffrey Benz of Cushman & Wakefield represented the sellers.
BUFFALO GROVE, ILL. — Colliers has arranged the sale of a 226,384-square-foot flex industrial property in the Chicago suburb of Buffalo Grove for an undisclosed price. Constructed in 1985, the building features 90,000 square feet of office space and parking for 600 cars as well as an attached manufacturing facility with a clear height of 21 feet, five interior docks and three exterior docks. Siemens has occupied the property since 1987 and utilizes the space for its U.S. engineering headquarters, which employs more than 800 engineers and manufacturing workers. Jeff Devine and Steve Disse of Colliers represented the seller, a private investor. Lightstone was the buyer.
PERU, ILL. — Associated Bank has provided a $6 million loan for the construction of Diamond Senior Apartments of Peru. The 56-unit seniors housing community will be located at 927 Wenzel Road in Peru, which is situated in North Central Illinois. Developed by 3 Diamond Development, the project will comprise 10 single-story buildings. All units will be restricted to low-income seniors age 55 and older. Twelve of the units will be restricted to residents earning less than 30 percent of the area median income (AMI), while the remaining 44 units will be reserved for those who earn up to 60 percent of AMI. The development will also feature a separate building with an exercise room and community room. Teresa Rubio of Associated Community Development LLC managed the loan and closing.