AURORA AND WHEATON, ILL. — Pensam has acquired Aspen Place Apartments in Aurora and Lakeside Apartments in Wheaton for an undisclosed price. The two-property multifamily portfolio totals 620 units. Of the 416 units at Aspen Place, 168 are townhomes with attached garages. Amenities include a clubroom, fitness center, conference room, grilling station and pool. The 204-unit Lakeside features amenities such as a clubhouse, fitness center, conference room, pool and grilling stations. Seller information was not provided. Pensam is a multifamily real estate investment firm managing over $3 billion in assets across its equity and lending platforms.
ROSELLE, ILL. — Signode has signed a 360,709-square-foot industrial lease at 1600 Central Ave. in Roselle, a northwest suburb of Chicago. Signode, a global manufacturer of packaging and warehouse automation solutions, will open a global flagship facility for its Automation and Packaging Technologies (APT) platform following the completion of tenant improvements at the new site. Originally constructed as a build-to-suit for Sony Corp. in 1994, the building sits on 19 acres and features a clear height of 28 feet, 40 exterior docks and 46 trailer spots. The property is situated within the Turnberry Lakes Business Park, which offers convenient access to I-390 and O’Hare International Airport. Signode will house its APT platform at the new site, including manufacturing for a broad portfolio of equipment and a new, 100,000-square-foot customer experience center. Ron Behm and Jonathan Kohn of Colliers International Chicago represented the landlord, Prologis. Whit Heitman of CBRE represented Signode, which will occupy the entire building.
WARRENS, WIS. — The Jenkins Organization Inc. (TJO) has purchased The Jellystone Park in the central Wisconsin town of Warrens. The purchase price was undisclosed. With 415 recreational vehicle (RV) sites, 162 park models and 42 tent sites across 130 acres, the park will be the largest within TJO’s portfolio. TJO plans to upgrade the park with enhanced Wi-Fi and cable as well as replace several cabins. Planned additions include gem mining, laser tag and a jumping pad. Over the winter months, TJO will renovate the ranger station, café, activities building and water attractions, and add a Wibit obstacle course. Current amenities at the park include 36 holes of mini golf, a shuffleboard court, wave pool, swimming beach, waterslide, lazy river and racer waterslide. The acquisition marks TJO’s fifth Jellystone Park and ninth RV resort since launching its Great Escapes RV Resorts brand in 2019.
CHICAGO — North Wells Capital LLC has received a $21 million loan for the refinancing of 440 North Wells in Chicago’s River North neighborhood. The office and retail building rises eight stories and spans 95,316 square feet at the intersection of Wells and Hubbard streets. The property is currently 97 percent occupied, with the office space anchored by Curo Technologies and the retail space anchored by Ligne Roset. Urban Innovations provides property management, leasing and construction services for the building. North Wells Capital and Urban Innovations have owned and managed the property since 1996. CIBC Bank USA provided the loan, terms of which were undisclosed.
LEE’S SUMMIT, MO. — Stan Johnson Co. has brokered the sale of Summit Orchards Shopping Center in Lee’s Summit near Kansas City. The sales price was undisclosed. The newly built property, which spans 81,185 square feet, was fully leased at the time of sale to tenants such as Aldi, HomeGoods, Ross Dress for Less and Five Below. Margaret Caldwell, Patrick Kelley, Jason Powell and Max Van Dresser of Stan Johnson represented the seller, Townsend Summit, an affiliate of Townsend Capital, which is a Maryland-based investor and developer. Jenel Real Estate, a private family office based in New York, was the buyer.
FRANKFORT, IND. — JLL Capital Markets has brokered the sale of a 1.5 million-square-foot distribution center in the Indianapolis-area community of Frankfort for $114 million. The facility was completed in 2015 as a build-to-suit for food and beverage maker ConAgra Brands, which fully occupies the property. Building features include a clear height of 34 feet, 125 dock-high doors, four drive-in doors, 853 trailer parking stalls and 10 rail docks serviced by CXS and Norfolk Southern. John Huguenard and Kurt Sarbaugh of JLL represented the seller, Founders Properties LLC. W. P. Carey purchased the 180-acre property.
SCHAUMBURG, ILL. — Ally Financial has signed a 55,000-square-foot office lease at Schaumburg Towers in the Chicago suburb of Schaumburg. Ally, a digital financial services company, will relocate from Itasca, where it currently occupies 44,000 square feet. Ally expects to take occupancy of its new space in the third quarter of 2022. Located on American Lane, Schaumburg Towers is a two-building, 882,000-square-foot office complex. Owner America Landmark Properties has invested more than $20 million to renovate the property in the past few years. Steve Kling and David Florent of Colliers International represented ownership in the lease transaction, which brings the property’s occupancy up to 70 percent. Scott Ohlander of JLL represented Ally.
TRAVERSE CITY, MICH. — Woda Cooper Cos. Inc. has broken ground on Ruth Park, a $14.3 million affordable housing project in downtown Traverse City. The property will provide 58 units for singles, families and seniors who earn 30 to 80 percent of the area median income. Amenities include two community rooms, a fourth-floor outdoor terrace, fitness room, playground and laundry. There are six units with features for those with disabilities. The Michigan State Housing Development Authority provided affordable housing tax credits to support financing for the new development. Affordable housing investor Marble Cliff Capital is providing equity financing and Bellwether Enterprise is providing the first mortgage. Traverse City-based Independent Bank contributed a construction loan. The project team includes architect PCI Design Group, civil engineer Mansfield Land Use Consultants and sustainability consultant Sol Consulting + Design. Woda Cooper’s construction division is the general contractor and the company’s management division will oversee leasing and day-to-day operations. A timeline for completion was not disclosed.
WICHITA, KAN. — NAI Martens has arranged the sale of four airport hangars at Wichita’s Dwight D. Eisenhower National Airport for $8.6 million. The transaction involved 96,536 square feet across the four hangars, which all include private office space. Steven Martens and Grant Glasgow of NAI Martens represented the undisclosed seller and procured two separate buyers.
COLUMBUS, OHIO — Simi Capital has sold a 15-acre industrial property located on Stelzer Road in Columbus for $6.1 million. The institutional buyer plans to continue utilizing the property for industrial parking. Shortly after acquisition of the site, Simi secured the property’s entitlement for industrial use and arranged a long-term lease with CMH Parking and Repair. Simi paid $4.2 million for the site. Ryan Crossley of Kooperman Mentel Ferguson Yaross served as legal representation for Simi. Alex Marsh of The Robert Weiler Co. brokered the sale.