Midwest

Kraus-Anderson Completes $70M Renovation, Expansion of Science Facilities at Minnesota’s Gustavus Adolphus College

by Kristin Harlow July 7, 2020

ST. PETER, MINN. — Kraus-Anderson Construction Co. has completed a $70 million renovation and expansion of Nobel Hall of Science at Gustavus Adolphus College in St. Peter, about 70 miles southwest of Minneapolis. Nobel Hall houses the departments of biology, chemistry, geography and geology, along with interdisciplinary programs in biochemistry, molecular biology and environmental studies. Designed by Hastings+Chivetta, the 182,828-square-foot project nearly doubled the building’s footprint. A lobby and laboratory theater connects Nobel Hall to the Schafer Fine Arts building. The project also added new research and teaching laboratories, offices, classrooms and meeting rooms as well as a museum, greenhouse and auditorium.

July 7, 2020

Development Industrial Kansas Midwest Office

GO Topeka Unveils Plans for Animal Health Innovation Campus in Kansas

by Kristin Harlow July 7, 2020

TOPEKA, KAN. — GO Topeka has unveiled plans to build a large-scale animal health innovation campus in Topeka. The economic development group has selected Clark Enersen Partners and BioRealty Inc. to begin identifying and evaluating prospective locations. The developers, which both have expertise building scientific research parks, will present initial findings this winter. The development will be home to Plug and Play’s animal health program as well as research and development labs and offices for startups and partners. Topeka is centrally located within the KC Animal Health Corridor, which is home to more than 300 animal health companies.

July 7, 2020

Illinois Industrial Leasing Activity Lee & Associates Midwest

SignCo Leases 19,800 SF of Industrial Space in Melrose Park, Illinois

by Kristin Harlow July 7, 2020

MELROSE PARK, ILL. — SignCo, a local print, design and sign manufacturing company, has leased 19,800 square feet of industrial space at 1975 Cornell Ave. in Melrose Park, a western suburb of Chicago. The multi-tenant building spans 45,000 square feet. Michael Plumb and Brad Simousek of Lee & Associates represented the undisclosed landlord in the lease transaction. Ryan Kehoe of Lee & Associates represented the tenant. In May, Kehoe also represented SignCo when it sold its 6,900-square-foot building at 1327 N. 31st St. in Melrose Park. Keller Williams represented the buyer, Midwest AutoBody, in the sales transaction that occurred in May.

July 7, 2020

Acquisitions Hospitality Midwest Wisconsin

Marcus & Millichap Brokers $2.5M Sale of Super 8 Hotel in Wisconsin

by Kristin Harlow July 7, 2020

PLEASANT PRAIRIE, WIS. — Marcus & Millichap has brokered the $2.5 million sale of a Super 8 hotel in Pleasant Prairie, about 35 miles south of Milwaukee. Built in 1984, the 60-room hotel is located at 7601 118th Ave. at the intersection of Highway 50 and I-94. Ebrahim Valliani, John Yurich, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel on behalf of the seller, a private investor. the team also secured and represented the buyer, a private investor.

July 7, 2020

Acquisitions Indiana Midwest Office

Partners in Autism Buys 18,492 SF Office Building in Fort Wayne, Indiana

by Kristin Harlow July 7, 2020

FORT WAYNE, IND. — Partners in Autism has purchased an 18,492-square-foot office building located at 601 Noble Drive in Fort Wayne for an undisclosed price. Brady Gardner and John Caffray of Sturges Property Group represented the buyer in the transaction. Fort Wayne-based Partners in Autism provides several autism-related services, including therapy, social groups and employment services. The seller was undisclosed.

July 7, 2020

Acquisitions Midwest Office Wisconsin

Founders 3 Brokers Sale of Two Wisconsin Office Buildings for $10.1M

by Kristin Harlow July 6, 2020

WEST ALLIS, WIS. — Founders 3 Real Estate Services has brokered the sale of Lincoln Center II and III in West Allis for a combined $10.1 million. The multi-tenant office buildings total 120,997 square feet. They are located at 2514 S. 102nd St. and 10150 W. National Ave. in suburban Milwaukee. The properties are home to 24 tenants, including Cognex, Verizon Wireless and Eye Care Specialists. Andy Hess, Ned Purtell and Patti Stevens of Founders 3 represented the seller, Lincoln Center Office Property Group LLC, which is an affiliate of SARA Investment Real Estate. J. Ross & Associates represented the buyer and is part of the ownership group.

July 6, 2020

Loans Midwest Multifamily Office Ohio

Grandbridge Arranges $4.7M in Refinancing for Two-Property Portfolio in Lorain, Ohio

by Kristin Harlow July 6, 2020

LORAIN, OHIO — Grandbridge Real Estate Capital has arranged two loans totaling $4.7 million for the refinancing of a two-property portfolio in Lorain, about 30 miles west of Cleveland. The first property is Fairway East Apartments, a recently renovated apartment community totaling 80 units across five buildings. The second asset is City Center, a 56,384-square-foot office building housing tenants such as Spectrum Consulting Services, Lorain County Community College and United Property Management. Craig Kegg of Grandbridge arranged the 15-year, fixed-rate loans with insurance company correspondents. United Property Management was the borrower.

July 6, 2020

Acquisitions Midwest Retail Wisconsin

Boulder Group Negotiates $3.2M Sale of Property Net Leased to Firestone in Kenosha, Wisconsin

by Kristin Harlow July 6, 2020

KENOSHA, WIS. — The Boulder Group has negotiated the $3.2 million sale of an 8,010-square-foot property net leased to Firestone in Kenosha in Southeast Wisconsin. The single-tenant building is located at 3190 Market Lane. There are 18 years remaining on Firestone’s lease. Randy Blankstein and Jimmy Goodman of Boulder represented the Midwest-based buyer, which completed a 1031 exchange. A Southwest-based real estate investor was the seller. Firestone handles all aspects of auto care.

July 6, 2020

Development Midwest Ohio

Ohio’s Central State University Receives $500,000 Grant for Conversion of Power Plant into Student Center

by Kristin Harlow July 6, 2020

WILBERFORCE, OHIO — Central State University has received a $500,000 grant from the U.S. Department of the Interior for the conversion of the university’s historic campus power plant into a student career services facility. The grant agreement will fund a portion of the planned $3 million project. The new center will be named the Frank Murphy Student Success Center. The project will provide classrooms, meeting spaces and technology to support academic programs and events. The federal grant is part of $7.7 million in grants given to 18 projects in 12 states for the preservation of historic structures on campuses of historically black colleges and universities. It is administered by the National Park Service. Central State University is located in Wilberforce, which is between Columbus and Cincinnati.

July 6, 2020

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 23,108 SF Industrial Building in South Elgin, Illinois

by Kristin Harlow July 6, 2020

SOUTH ELGIN, ILL. — Entre Commercial Realty has brokered the sale of a 23,108-square-foot industrial building in South Elgin, about 40 miles west of Chicago. The sales price was undisclosed. The property is located at 320-350 Industrial Drive. It is fully leased to an undisclosed tenant and features six drive-in doors, two docks, recently renovated office space and a new parking lot. Cory Kay and Mike DeSerto of Entre represented the buyer, a private investment group. Bruce Granger of NAI Hiffman represented undisclosed seller.

July 6, 2020

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