DOWNERS GROVE, ILL. — Lifespace Communities has broken ground on an expansion project at Oak Trace, a nonprofit continuing care retirement community in the Chicago suburb of Downers Grove. The expansion is Phase II of a $112 million reinvestment project at the community. The first phase, which converted some units to assisted living to complete the continuum of care, was completed in 2019. Phase II will add 145 independent living apartments, bringing the total from 232 to 377. Completion is scheduled for 2023. In addition to increasing the number of available independent living apartments, new construction will include a clubhouse featuring a fitness center, pool, salon, casual dining venue, café seating, multipurpose room, living room and new lobby. Existing common areas will also be renovated. Once the second phase of construction is completed, the health center will be connected to the existing independent living building via the new clubhouse. In addition to the independent living units, the senior living community currently features 66 assisted living apartments, 28 memory support suites and 104 skilled nursing suites.
MASON, OHIO — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cedar Village, a seniors housing community in Mason, Ohio, approximately 22 miles northeast of downtown Cincinnati. Cedar Village features 105 independent living/assisted living units and 162 skilled nursing beds. The seller was a nonprofit owner based in Indiana divesting of its only community in Ohio. The buyer was a regional owner with other properties nearby. The price was not disclosed. Ryan Saul of SLIB handled the transaction.
BIRMINGHAM, MICH. — Bernard Financial Group (BFG) has arranged $6.5 million in permanent financing for a 23,500-square-foot, Class A office building in Birmingham, a northern suburb of Detroit. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Chester Street Partners LLC. American United Life Insurance Co. provided the loan, the terms of which were undisclosed.
FLINT, MICH. — The Jonna Group of Colliers has brokered the sale of a 6,885-square-foot commercial building in Flint for an undisclosed price. The property, built in 2019, is located at 5009 Miller Road. Tenants at the fully leased building include U.S. Army & Navy Career Center, Jersey Mike’s and Smoothie King. Simon Jonna of Colliers represented the seller, a Michigan-based private developer. The buyer was not disclosed.
HOWELL, MICH. — Metro Infusion Center has leased the remaining 1,458 square feet at Shops at Westbury in Howell, about 30 miles north of Ann Arbor. Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented the undisclosed landlord. Todd Schultz of Schultz Real Estate represented the tenant. Metro Infusion Center, a provider of infusion therapies for complex chronic conditions, now operates 15 locations across the state of Michigan.
MANHATTAN, KAN. — Scorpion Biological Services, a subsidiary of Heat Biologics Inc., is building a new 500,000-square-foot biomanufacturing facility in Manhattan. The $650 million project will create 500 new jobs in the area within the next seven years, according to Gov. Laura Kelly. The facility will support the development of vaccines that enable an accelerated response to global biological threats. The company also intends to provide commercial level development, manufacturing and bioanalytical testing services at every stage for biopharmaceutical products on a fee-for-service basis to the global healthcare industry. The project came together as a result of partnerships between the Kansas Department of Commerce, Kansas State University, Kansas State University Innovation Partners, the City of Manhattan, the Manhattan Chamber of Commerce, Pottawatomie County, Pottawatomie County Economic Development Corp., Manhattan Area Technical College, Evergy, CRB and Realty Trust Group. A timeline for construction was not provided.
BLOOMINGTON, MINN. — Mesa West Capital has provided an $85 million loan for the acquisition of Hampshire Hill, a 534-unit multifamily property in the Minneapolis suburb of Bloomington. Located at 10660 Hampshire Ave., the community was 96 percent occupied at the time of loan closing. The property was built in 1987 and partially renovated in 2019. Murray Kornberg of Colliers arranged the loan on behalf of the borrower, Minneapolis-based multifamily investment firm Bader Diamond Funds.
NORTH RIVERSIDE AND ELMHURST, ILL. — Mid-America Real Estate Corp. has brokered the sale of two shopping centers in suburban Chicago for an undisclosed price. North Riverside Plaza is a 384,707-square-foot regional shopping center in North Riverside. Tenants include Kohl’s, Burlington, Best Buy, Petco, Michaels and a new grocery store that is currently under construction. Elmhurst Crossing is a 347,505-square-foot, grocery-anchored shopping center in Elmhurst. Major tenants include Whole Foods Market, Kohl’s, At Home and Petco. Ben Wineman and Kathryn Sugrue of Mid-America represented the longtime owner and seller, Canada-based Federal Construction. Brixmor Property Group was the buyer.
MENOMONEE FALLS, WIS. — Founders 3 Real Estate Services has arranged the $4.3 million sale of a 70,000-square-foot industrial building in Menomonee Falls, a northwest suburb of Milwaukee. The property is located on Woodale Drive. Bob Flood of Founders 3 represented the seller, Kohl’s Inc. Dynamic Tool Corp., which builds plastic injection molds for the packaging, personal care and healthcare industries, was the buyer.
WARREN, MICH. — Family Dollar has signed a 10,500-square-foot retail lease to open a store at Village Plaza in Warren, about 20 miles north of Detroit. Located at the northwest corner of 13 Mile and Mound roads, Village Plaza spans roughly 100,000 square feet. Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented the landlord, Shango Enterprise Group. Scott Sonenberg of Landmark Commercial Real Estate Services represented Family Dollar.