WASECA, MINN. — Phoenix Investors has acquired a 248,291-square-foot industrial flex building in Waseca for an undisclosed price. Phoenix plans to implement a capital improvement plan to reinvigorate the space for new users. There is currently 100,000 square feet available for lease. The facility sits on 19.7 acres at 229 Johnson Ave. SW. Dave Schoof of Coldwell Banker Commercial Fisher Group brokered the sale. The acquisition expands Phoenix’s footprint to 23 states.
SOUTHFIELD, MICH. — Quint Group, a private real estate investment firm headquartered in Quebec, Canada, has purchased Mars Corporate Center in Southfield. The purchase price was undisclosed. The 185,788-square-foot office building is currently 64 percent occupied by eight tenants, including Mars Advertising and IBI Group. Built in 1974, the property features a café and a five-story atrium. Friedman Real Estate represented the undisclosed seller and will represent the new ownership group in the management and leasing of the property. Quint has purchased or developed more than 10 million square feet of retail, industrial and office properties across Canada and the United States.
MAPLEWOOD, MINN. — Marcus & Millichap has arranged the sale of Sibley Cove in Maplewood for $10.9 million. The apartment complex features 81 units. Chris Collins, Evan Miller and Seth Barnett of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a Twin Cities-based limited liability company.
CHICAGO — Draper and Kramer Inc. has topped off a 120-unit multifamily project located at 949 W. Dakin St. in Chicago’s Wrigleyville neighborhood. The developer has named the project Wrigleyville Lofts, as it is situated 2.5 blocks north of Wrigley Field. Draper and Kramer plans to begin pre-leasing this summer for fall 2021 move-ins. The project includes 108 one-bedroom units and 12 two-bedroom units, as well as 14,000 square feet of ground-floor retail space. Lakeview Ace Hardware, which occupied the single-story structure previously on the site, will return to anchor the corner commercial space. Lakeview Ace is also a minority partner in the development. Amenities will include a rooftop deck, meeting areas, a coffee shop, clubroom, fitness center and private parking garage. Rents will start at roughly $1,900 per month. The Chicago regional office of HUD financed the project, with Gershman Mortgage acting as the HUD lender. Leopardo Construction is the general contractor and Sullivan, Goulette & Wilson Architects is the architect.
LAKEFIELD, MINN. — Kraus-Anderson has begun construction of a $26 million project for Jackson County Central Schools in Lakefield, a city in southern Minnesota. The project scope includes the construction of a new middle school and interior remodeling of Pleasantview Elementary School. Designed by JLG Architects, the new 84,000-square-foot Pleasantview Middle School will feature new classrooms, career and tech education learning spaces and science classrooms, as well as a gymnasium, band and choir areas, kitchen and common areas. Renovations to the elementary school include air quality upgrades as well as improvements to meet requirements of the Americans with Disabilities Act.
INDIANA AND TEXAS — Hanley Investment Group Real Estate Advisors has arranged the sale of a four-property Fresenius Medical Care portfolio in Indiana and Texas for $9.8 million. The outpatient dialysis clinics are located in Auburn, Fort Wayne and Marion, Ind. as well as one in Dayton, Texas. Bill Asher, Jeff Lefko and Ed Hanley of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, a Midwest-based private partnership. Brian Appel of Appel & Henick LLP handled legal affairs on behalf of the seller and negotiated lease extensions for the three Indiana properties. The 7,176-square-foot facility in Auburn sold to a St. Louis-based private buyer. Vince Vatterott and Michael Kocur of Westwood Net Lease Advisors represented the buyer. A Marin County, Calif.-based institutional group purchased the 7,580-square-foot property in Fort Wayne. Daniel Barnes of Lee & Associates represented the buyer. Brad Canova of Horvath & Tremblay represented the Denver-based private investor in the purchase of the 9,300-square-foot Marion facility. Lastly, Chris Shoemaker of Shoemaker Commercial Real Estate represented the California-based private investor in the acquisition of the 5,931-square-foot property in Dayton.
HOFFMAN ESTATES, ILL. — Somerset Development has opened coLab at Bell Works Chicagoland in Hoffman Estates. The 15,000-square-foot coworking facility offers flexible lease terms and workspaces, including access to dedicated conference and meeting rooms, lounges and amenities. It was designed as a turnkey solution for enabling companies to flexibly lease ready-to-use office space, according to Somerset. NPZ Style & Décor designed the space. Membership plans range from a $25 day pass to private team suites, which start at $2,000 per month. Bell Works Chicagoland is the transformation of the former AT&T campus. Somerset is developing the project in a similar fashion to its Bell Labs development in Holmdel, N.J.
ELMHURST, ILL. — Newcastle Properties has acquired a 7,763-square-foot retail center in Elmhurst, a western suburb of Chicago. Built in 2016, the property is fully leased to Starbucks, Hand & Stone Massage, T-Mobile and Bentley’s Pet Stuff. The center is shadow-anchored by LA Fitness. Sean Devine of Newcastle sourced and managed the acquisition. Beth Sansiper and Jeff Gurian of Becker & Gurian represented Newcastle in the transaction. The seller and sales price were undisclosed.
MONROE, OHIO — The Kroger Co. (NYSE: KR) has opened its first customer fulfillment center (CFC) in the country. The 375,000-square-foot facility is located in Monroe, a city north of Cincinnati. The CFC can fulfill thousands of orders per day and has the capability to support fulfillment of pickup orders. Powered by Ocado Group, a grocery e-commerce company, the CFC combines vertical integration, machine learning and robotics with affordable and fast delivery service for fresh food, according to Kroger. Onsite associates will support delivery operations and help process, package and load orders. The Monroe CFC will employ nearly 400 associates. After placing an order via Kroger’s website or app, customers in regions where there is a CFC will have their groceries delivered by a Kroger delivery associate in a temperature-controlled van. The Kroger delivery network will also continue to leverage stores and third-party partners to deliver certain orders. In May 2018, Kroger and Ocado formed an exclusive partnership for the rollout of CFCs across the country. The companies also plan to roll out components of the software solutions into Kroger stores in order to support fulfillment of curbside pickup orders. A CFC in Groveland, Fla. near Orlando is scheduled to …
ROCKDALE, ILL. — Industrial Realty Group LLC (IRG) has acquired a 1.5 million-square-foot industrial facility formerly occupied by Caterpillar in Rockdale near Joliet. The purchase price was undisclosed. The 69-acre property includes several buildings along the Des Plaines River. The largest building is 1.3 million square feet and includes 65,384 square feet of office space. Caterpillar used the site for its hydraulic manufacturing operations. IRG’s CEO John Mase says the company intends to convert the single-tenant manufacturing facility into a multi-tenant complex capable of accommodating warehouse, distribution and manufacturing users. IRG plans to immediately begin renovations and marketing the space for lease.