APPLETON, WIS. — Colliers Wisconsin has brokered the sale of a 70,414-square-foot shopping center in Appleton for $12.9 million. The fully leased property is situated adjacent to the Fox River Mall near Highway 41. Some of the tenants include JoAnn Fabrics, Dollar Tree, Kirkland’s and Chili’s. Adam Connor, Mark Pucci and Heather Dorfler of Colliers represented the seller, an Appleton-based investor group. Prairie Hill Holdings, a Chicago-based private real estate investment firm, was the buyer.
LENEXA, KAN. — CBRE has brokered the sale of Park Edge in Lenexa for an undisclosed price. Located at 8201 Renner Road, the apartment community consists of 260 units across 29 buildings. Units average 1,131 square feet each. Completed in 1999, Park Edge features amenities such as a fitness center, clubhouse and indoor and outdoor pools. Jeff Stingley and Max Helgeson of CBRE represented the seller, Maxus Realty Trust Inc. Kansas City-based Cohen-Esrey was the buyer.
VIRGINIA, MINN. — Kraus-Anderson Duluth has broken ground on a new elementary school for Rock Ridge Public Schools in Virginia, a city in Northeast Minnesota. Named North Star Elementary School, the property will be located at 411 S. 5th Ave. The $33.7 million project will rise three stories and serve students in grades 3-6. Cuningham Group designed the school in collaboration with local design firm ARI. Special features will include a second-floor outdoor learning patio and collaborative learning spaces. An existing gymnasium at the property will be rebranded. Completion is slated for the end of 2024.
ALGONQUIN, ILL. — FunCity Adventure Park has signed a 35,549-square-foot retail lease to open at River Pointe in the northwest Chicago suburb of Algonquin. The location will be FunCity’s 25th nationwide. FunCity is an indoor entertainment concept that offers activities such as trampolines, laser tag, foam pits, bumper cars, arcades and party rooms. River Pointe is a shopping center anchored by Jewel-Osco. KeyPoint Partners represented FunCity, which currently operates in eight states.
MARINETTE, WIS. — Newcap Inc. has completed Trolley Station Terrace in Marinette, about 55 miles north of Green Bay. The mixed-income housing development features 38 units for residents earning up to 60 percent of the area median income and seven market-rate units. The property also offers social services for veterans and persons with disabilities. Nine of the units are designated for veterans and individuals who have permanent developmental, physical, sensory, medical or mental health disabilities. Amenities include a community room, computer lab, reading room, storage units, dog wash and internet. The development team included Crown Court Properties Ltd. as co-developer, McGann Construction Inc. as general contractor, Dimension IV Madison Design Group as project architect and Lutheran Social Services as property manager. The total project cost was $10.2 million. Hunt Capital Partners provided $6.3 million in federal low-income housing tax credit equity through its multi-investor fund, Hunt Capital Partners Tax Credit Fund 37. The fund includes eight investors, including CVS Health. Trolley Station Terrace also benefits from funds from the HOME Investment Partnerships Program, which is a federal block grant to state and local governments designed exclusively to create affordable housing for low-income households. Additionally, Merchants Capital Corp. provided a $1.8 …
CHICAGO — Quantum Real Estate Advisors Inc. has negotiated the sale of a 12-unit multifamily building located at 3137 W. Wellington Ave. in Chicago for $2.8 million. Clay Maxfield of Quantum represented the seller, which purchased the asset in 2018. The property sold to a California-based buyer completing a 1031 exchange.
BROADVIEW AND BUFFALO GROVE, ILL. — Lightstone has purchased two Chicago-area industrial properties totaling 558,000 square feet for an undisclosed price. The first property is a 332,000-square-foot warehouse and office building located at 2600 S. 25th Ave. in Broadview. The facility is 96 percent leased to 19 tenants. In Buffalo Grove, Lightstone purchased 990 and 1000 Deerfield Parkway, a 226,000-square-foot lab and warehouse property. The building is fully leased to Siemens. With these acquisitions, Lightstone’s industrial portfolio has grown to more than 6.5 million square feet across 15 markets. The seller was not provided.
CHICAGO — The Back Room, an entertainment destination and live music venue, has signed a 6,000-square-foot retail lease at 318 N. Carpenter St. in Chicago’s Fulton Market district. The Back Room, which has been a part of Chicago’s music scene for 50 years, is relocating from 1007 N. Rush St. The new property is an eight-story, 95,445-square-foot office building with ground-level retail space that is situated directly across the street from Google’s Chicago headquarters. James Schutter, Larry Kling and Nick Garlick of Newmark represented the building owner, a joint venture between Murphy Real Estate Services and Creek Lane Capital.
OVERLAND PARK, KAN. — Occidental Management has launched a 45,000-square-foot coworking space at its Aspiria office campus in Overland Park. Named Aspiria NOW, the coworking concept provides members with multiple membership options and workspace configurations. Amenities included in the membership packages include onsite Wi-Fi, free covered parking, printing allowances, fully equipped conference rooms, 24/7 security, dining options and free membership to the fitness center. Occidental hired coworking expert Robert Curland to help launch and run Aspiria NOW.
WICHITA, KAN. — Blue West Capital has negotiated the sale of Killarney Center, a 22,800-square-foot retail property in Wichita. Located at 3101 N. Rock Road, the center is home to Golftec, T-Mobile, Oh Yeah China Bistro, Oreck Clean Home and The Health Connection. The sale also included a Scooters Coffee ground lease. Shawn Dickmann and Carly Kelly of Blue West Capital represented the buyer, an out-of-state, private real estate investment company. The seller and sales price were not released.