LAKEVILLE, MINN. — Allina Health has unveiled plans to build a multi-specialty center and primary care clinic in Lakeville, about 20 miles south of Minneapolis. Together, the two projects total 100,000 square feet. The 75,000-square-foot multi-specialty center will house an ambulatory surgery center and provide residents with services such as orthopedics, oncology and women’s health. The 25,000-square-foot primary care clinic will be situated near Cedar Avenue and Dodd Road. Both projects are slated to open in summer 2023. Brian Bruggeman and Louis Suarez of Colliers represented Allina Health in its site selection.
ST. JOSEPH, MO. — Montecito Medical has acquired the St. Joseph Outpatient Surgery Center building in St. Joseph, about 55 miles north of Kansas City. The purchase price and seller were undisclosed. The nearly 15,000-square-foot property is fully leased to St. Joseph Outpatient Surgery Center. Four physician assistants, 19 surgeons and 12 anesthesia providers practice at the facility. The surgeons perform procedures in a variety of specialties, including orthopedics; gastroenterology; plastic surgery; ears, nose and throat (ENT) and podiatry. The facility includes four operating rooms, two procedure rooms and recovery rooms. Montecito Medical is a privately held company specializing in healthcare-related real estate acquisitions and funding for development.
BRODHEAD, WIS. — NAI Greywolf has negotiated the sale of a 37-unit, vacant senior living facility in Brodhead, about 35 miles south of Madison. The sales price was undisclosed. The property, which closed in summer 2021, features two dining rooms, a beauty shop, therapy room and library. Dawn Davis of NAI Greywolf represented the seller, Brodhead Assisted Living Inc. The buyer, AJ Brodhead LLC, intends to reopen the property as assisted living.
CHAMPAIGN, ILL. — Marcus & Millichap has brokered the $150 million sale of a student housing portfolio comprising over 50 properties near the University of Illinois Urbana-Champaign campus in Champaign. The transaction represents the highest-ever portfolio sales price for Champaign County, according to Marcus & Millichap. The portfolio totals nearly 1,100 units. The newest property was constructed three years ago, while the oldest is more than 50 years old. Scott Harris and Bryan Kunze of Marcus & Millichap represented the seller, Campus Property Management, and procured the buyer, Fairlawn Capital. The buyer plans to reposition a number of the assets through unit upgrades and amenity additions.
ST. LOUIS — Draper and Kramer Inc. has begun pre-leasing Moda at The Hill, a 225-unit apartment development in The Hill neighborhood of St. Louis. Residents can begin moving in this summer. The four-story building offers units that range in size from 600 to 1,200 square feet. Monthly rents start at $1,270. Amenities include a fitness center, game room, coworking spaces, grilling stations, fire pits, pool and hot tub. Moda at The Hill is part of a larger 11-acre master plan led by Draper and Kramer that includes single-family homes by McBride Homes and a community park.
JANESVILLE, WIS. — Northmarq has arranged a $28.1 million loan for the refinancing of Village Green Apartments in Janesville, about 40 miles south of Madison. The 406-unit multifamily property is located at 3121 Village Court. Mark Ebersold of Northmarq arranged the 10-year loan, which features two years of interest-only payments and a 30-year amortization schedule. A CMBS lender provided the fixed-rate loan. The borrower was undisclosed.
MAPLEWOOD, MINN. — Arizona Partners has acquired Birch Run Station in the Minneapolis suburb of Maplewood. The purchase price was undisclosed. The 279,343-square-foot shopping center is home to tenants such as Burlington, Jo-Ann and Dollar Tree. CBRE represented the seller, Voya Investment Management.
CHICAGO — Revolution Brewing, the largest independently owned brewery in Illinois, has purchased a 128,422-square-foot industrial property located on North Kedzie Avenue in Chicago. The purchase price was undisclosed. The building features clear heights ranging from 18 to 24 feet, 14 docks and one drive-in door. Mike Senner and Alex Kritt of Colliers represented the seller, a private investment group.
BOLINGBROOK, ILL. — M&J Wilkow and Bixby Bridge Capital have acquired The Promenade Bolingbrook in the Chicago suburb of Bolingbrook. The seller and sales price were undisclosed. The open-air lifestyle center spans 779,000 square feet. Some of the tenants include Macy’s, Bass Pro Shops, Binny’s Beverage Depot, Ulta and DSW. The shopping center opened in 2007. M&J Wilkow and Bixby also own Outlets of Maui in Hawaii together.
BATTLE CREEK, MICH. — NAI Wisinski of West Michigan has arranged the sale of Minges Creek Plaza in Battle Creek for an undisclosed price. The 72,000-square-foot shopping center was fully leased at the time of sale to tenants such as Jo-Ann, Biggby Coffee, Xfinity, Supercuts, Tropical Smoothie Café, The UPS Store and LA Insurance. Jodi Milks of NAI Wisinski represented the seller, which purchased the center in 2013 following a foreclosure and made property improvements. NAI Wisinski will handle property management and leasing for the new owner.