ROSSFORD, OHIO — Eidi Properties has completed the lease-up of Crossroads Centre in Rossford, just south of Toledo. Ashley Furniture will occupy the remaining 42,305 square feet. Big Lots opened a 37,716-square-foot store in February. Eidi acquired the 470,225-square-foot shopping center in December 2018 when it was 77 percent occupied. The property is situated next to an Amazon distribution center.
HALES CORNERS, WIS. — Marcus & Millichap has arranged the $6 million sale of a 37,219-square-foot retail center in Hales Corners, about 14 miles southwest of Milwaukee. Dollar Tree and Health Hut anchor the fully leased property, which is located at 5602 S. 108th St. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a developer. The team also procured the buyer, a private investor that completed a 1031 exchange. The property sold at the full asking price.
MILWAUKEE — NAI Greywolf has brokered the sale of a 20,860-square-foot industrial building in Milwaukee for $1.5 million. Located at 8800 Dean Road, the property features a clear height of 19 feet, two docks and two drive-in doors. There is excess land that can be utilized for additional parking or storage. David Hodge of NAI Greywolf represented the undisclosed buyer. The seller was also undisclosed.
DULUTH, MINN. — Colliers Mortgage has provided a $26.4 million HUD 221(d)(4) loan for the acquisition and rehabilitation of the historic Duluth Central High School in Minnesota. The 128-year-old building will be transformed into a 122-unit, mixed-income multifamily development known as Zenith. Amenities will include a gym, community lounge, game den, golf simulator, library, package room, patio and coworking area. The loan features a 40-year term and a 40-year amortization schedule. An entity doing business as Saturday Zenith LLC was the borrower.
ALTOONA, IOWA — Endeavor Development has broken ground on the first phase of its I-80 Distribution Center located at 451 9th St. in Altoona. Completion of the 300,000-square-foot building is slated for the first quarter of 2023. Upon full buildout of the three phases, the speculative project will span 900,000 square feet. JLL is leading the leasing efforts, and JLL’s David Berglund, Colin Ryan and Scott Loving arranged debt and equity. Endeavor is a Minneapolis-based developer, owner and manager.
CHICAGO — Interra Realty has arranged the sale of a pair of adjacent multifamily buildings totaling 42 units in Chicago’s Budlong Woods neighborhood for $6.7 million. All the units feature two bedrooms and one bath. Craig Martin of Interra represented the seller, Chicago-based Realty Resources, and the buyer, Chicago-based The Manderly Group. The new owner plans to upgrade units with new kitchens and baths to bring rents in line with the market.
MADISON, WIS. — Lee & Associates has brokered the sale of a 30,000-square-foot industrial building in Madison for $2.7 million. The property is located at 5601 Manufacturers Drive. Blake George of Lee & Associates represented the seller, an entity doing business as Pony Express LLC. The buyer was IA Manufacturers LLC.
BLOOMFIELD HILLS, MICH. — Monarch Behavioral Health PLLC has signed a 3,707-square-foot lease to open a new office in Bloomfield Hills. James Mitchell of Dominion Real Estate Advisors and Michele Rosenbloom of Lee & Associates represented the undisclosed landlord in the 63-month lease. Angela Thomas of Signature Associates represented the tenant. The property is located at 74 W. Long Lake Road.
CHICAGO — NAI Hiffman has brokered the sale of the Chicago Strategic Logistics Portfolio for an undisclosed price. The seven-building portfolio totals 1.4 million square feet. The assets are located throughout metro Chicago and are fully leased by 12 tenants. Patrick Sullivan and Ryan Chambers of NAI Hiffman represented the undisclosed seller. The buyer was Ascendas Real Estate Investment Trust, a member of CapitaLand Investments, which is headquartered in Singapore.
LAKEVILLE, MINN. — Minneapolis-based developer Davis, along with MNGI Digestive Health and Allina Health, have broken ground on Lakeville Specialty Center in suburban Minneapolis. The 100,500-square-foot clinic and surgery center is slated to open in fall 2023. Allina signed a lease for 60,000 square feet in the specialty center and 18,500 square feet in the surgery center. The clinic will offer 20 Allina specialties, including orthopedics, oncology, women’s health and cardiology. In addition, MNGI Digestive Health has signed a lease for 22,000 square feet to house a new clinic and endoscopy center. Minneapolis-based Synergy Architectural Studio is the project architect and Plymouth, Minn.-based Timco Construction Inc. is the general contractor.
