Midwest

Kraus-Anderson Completes Construction of $100M Apartment Complex in Minneapolis

by Kristin Harlow March 1, 2022

MINNEAPOLIS — Kraus-Anderson has completed construction of The Larking, a $100 million apartment complex located at 615 S. 8th St. in downtown Minneapolis. Designed by ESG Architects, the project rises 16 stories with 341 market-rate units. The development also includes three levels of underground parking, a Wells Fargo bank branch an additional 9,100 square feet of street-level retail space. Amenities include a sky lounge, pool deck, fitness center, sauna, golf simulator, pet spa, work-from-home suites and a conference room. Monthly rents start at $1,315 for studios.

March 1, 2022

Development Industrial Midwest Wisconsin

HSA Commercial to Develop 1.3 MSF Spec Industrial Project in Bristol, Wisconsin

by Kristin Harlow March 1, 2022

BRISTOL, WIS. — HSA Commercial Real Estate has unveiled plans to build a new speculative industrial development totaling 1.3 million square feet near its existing Bristol Highlands Commerce Center East in Bristol, about 40 miles south of Milwaukee. The three-building project will be named Bristol Highlands Commerce Center West. HSA plans to start construction on the first 550,000-square-foot building in April with completion slated for July 2023. The two additional buildings will span 417,000 and 357,000 square feet. The project team consists of Partners in Design Architects, Premier Design + Build Group LLC and Pinnacle Engineering Group. CBRE will serve as leasing agent.

March 1, 2022

Acquisitions Michigan Midwest Retail

Mid-America Arranges Sale of 409,000 SF Shopping Center in Saginaw, Michigan

by Kristin Harlow March 1, 2022

SAGINAW, MICH. — Mid-America Real Estate Corp. has arranged the sale of Valley Center in Saginaw for an undisclosed price. The 409,000-square-foot shopping center is home to tenants such as T.J. Maxx, HomeGoods, Dick’s Sporting Goods, Burlington, Michaels, PetSmart, Barnes & Noble, DSW, Old Navy, Ulta, Five Below and Dollar Tree. The center is 88 percent leased. Ben Wineman and Daniel Stern of Mid-America represented the seller, an institutional investor. A private family office was the buyer.

March 1, 2022

Illinois Industrial Leasing Activity Lee & Associates Midwest

Lee & Associates Negotiates Pair of Industrial Leases Totaling 311,444 SF in Suburban Chicago

by Kristin Harlow March 1, 2022

GLENDALE HEIGHTS, ILL. — Lee & Associates has negotiated a pair of industrial leases totaling 311,444 square feet in the Chicago suburb of Glendale Heights. Jeff Janda and Michael Plumb of Lee represented owner Link Logistics on two leases at neighboring properties. United Business Mail leased the 150,784-square-foot building at 101 Regency Drive, while a hardware company leased the 160,660-square-foot building at 500 Regency Drive. Steve Kohn of Avison Young represented United Business Mail, while Chris Lydon and Fort Richardson of Avison Young represented the hardware tenant.

March 1, 2022

Acquisitions Midwest Retail Wisconsin

Quantum Brokers $4.4M Sale of Strip Center in Wisconsin Dells

by Kristin Harlow March 1, 2022

WISCONSIN DELLS, WIS. — Quantum Real Estate Advisors Inc. has brokered the $4.4 million sale of an 11,982-square-foot retail strip center in the Wisconsin Dells, a city in central Wisconsin. Starbucks and Applebee’s anchor the property, which is located at 320 State Highway 13. Zack Hilgendorf of Quantum represented the seller, a Midwest-based investor. A California-based buyer purchased the asset.

March 1, 2022

Acquisitions Illinois Midwest Office Retail

Marcus & Millichap Brokers $19.7M Sale of Office, Retail Property in Lake Forest, Illinois

by Kristin Harlow February 28, 2022

LAKE FOREST, ILL. — Marcus & Millichap has brokered the $19.7 million sale of Forest Square in Lake Forest, about 30 miles north of Chicago. The 53,122-square-foot office and retail property is located at 840 S. Waukegan Road and was built in 2008. The building was nearly 90 percent occupied at the time of sale. Tenants include Lake Forest Family Dental, Envision Health, Physical Therapy of Lake Forest, The Hearing Lab, Abbott Laboratories, LoMastro Performing Arts Academy, Lou Malnati’s Pizzeria, Jimmy Johns and Starbucks. Stephen Lieberman of Marcus & Millichap represented the seller, GCP Forest Square LLC. Woodard Properties LLC was the buyer.

February 28, 2022

Development Industrial Iowa Midwest

Hydrite Chemical to Expand Manufacturing Facility in Waterloo, Iowa

by Kristin Harlow February 28, 2022

WATERLOO, IOWA — Hydrite Chemical plans to expand its facility in Waterloo that manufactures and distributes chemical products throughout the U.S. The City of Waterloo awarded tax benefits for the expansion project, which represents a $21 million capital investment over the next three years. Hydrite also plans to expand the facility’s transportation fleet and warehouse space. The project is expected to bring the workforce total to 158 employees at the Waterloo facility, which is the company’s only Iowa location and its largest property.

February 28, 2022

Illinois Leasing Activity Midwest Retail

Several Tenants Sign Leases at Glen Town Center in Glenview, Illinois

by Kristin Harlow February 28, 2022

GLENVIEW, ILL. — Several new tenants have signed leases to join the lineup at The Glen Town Center, a shopping center in Glenview, about 20 miles north of Chicago. Offix, a regional coworking and business solutions company, recently signed a 10-year lease for 6,200 square feet for its seventh location. Another recent lease signing was Chuck Lager America’s Tavern, which is owned by Fabio Vivani who appeared on the show “Top Chef.” Also joining the center will be Stretch Zone, a national boutique fitness company with over 40 locations nationwide. Poke Burrito, a local Asian restaurant, will open its sixth location in 1,800 square feet. Last year, Perfect Wedding opened its first location at the center, and in January, Eggspresso breakfast and brunch restaurant opened. SVN Chicago Commercial is the leasing agent for the property.

February 28, 2022

Acquisitions Illinois Midwest Restaurant Retail

Adelphia Properties Arranges Sale of 14,000 SF Former Restaurant Building in Elmhurst, Illinois

by Kristin Harlow February 28, 2022

ELMHURST, ILL. — Adelphia Properties has arranged the sale of a 14,000-square-foot former restaurant building in Elmhurst, about 20 miles west of Chicago. Arena Sports Bar & Grille formerly occupied the property, located at 630 W. Lake St., for more than 35 years. Simeon Spirrison and George Spirrison of Adelphia represented the seller, the proprietor. A local investor purchased the asset for an undisclosed price.

February 28, 2022

Leasing Activity Midwest Missouri Retail

Salon Service Group Opens at Red Bridge Shopping Center in Kansas City

by Kristin Harlow February 28, 2022

KANSAS CITY, MO. — Salon Service Group, a wholesale salon product distributor for licensed cosmetologists, has opened at Red Bridge Shopping Center in Kansas City. The tenant occupies nearly 2,000 square feet. Lane4 Property Group manages the center, which has welcomed 12 new tenants since its redevelopment in 2018. Salon Service Group operates 51 locations in 11 states, four of which are in metro Kansas City.

February 28, 2022

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