Midwest

COLUMBUS, OHIO — Affordable housing developer Woda Cooper Cos., along with partners Gertrude Wood Community Foundation and LifeCare Alliance, have completed The Livingston, a 45-unit affordable and age-restricted community in the Near South area of Columbus. The three-story property is reserved for residents age 55 and older who earn up to 60 percent of the area median income. The project pays tribute to The Livingston Theater, a historic theater dating back to the 1940s. The theater’s marquee signage, terrazzo flooring and a portion of its lobby were restored and incorporated into the project. PCI Design Group served as architect. Amenities include an onsite wellness center, interior courtyard, community room, fitness center and free Wi-Fi. Nonprofit partner LifeCare Alliance will provide supportive services and health screenings. Woda Construction Inc. was the general contractor and Woda Cooper’s management division will oversee leasing and day-to-day operations. Financing for The Livingston was made possible through the allocation of low-income housing tax credits allocated by the Ohio Housing Finance Agency (OHFA). KeyBank provided a construction loan while Cedar Rapids Bank & Trust and the City of Columbus provided first and second mortgages. OHFA and Affordable Housing Trust of Columbus and Franklin County provided bridge loans.

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MERRIONETTE PARK, ILL. — Newport Capital Partners has purchased Stonebrook Plaza in Merrionette Park, located about 17 miles southwest of Chicago. The purchase price was undisclosed. Stonebrook Plaza is a 95,825-square-foot shopping center anchored by grocer Jewel-Osco. It is currently 96 percent leased. Other tenants include Blink Fitness and Pet Supplies Plus as well as eateries and personal care tenants. Jewel-Osco has operated at the property since 1985. Jacksonville, Fla.-based Regency Centers was the seller. Chicago-based Newport specializes in the acquisition and management of neighborhood shopping centers throughout major metro areas.

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OSWEGO, ILL. — IRA Capital, a Southern California-based private equity firm, has acquired the Edward-Elmhurst Health Center in Oswego, located about 45 miles southwest of Chicago. It is fully leased to Edward-Elmhurst Healthcare, which was created by the merger of Edward Hospital and Elmhurst Memorial. The 15,500-square-foot outpatient medical facility was constructed as a build-to-suit for the hospital system. Services at the property include imaging, women’s health, urgent care and lab services. The building is situated 14 miles from Edward Hospital in Naperville. The purchase price and seller were undisclosed.

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MENOMONEE FALLS, WIS. — Kohl’s Corp. (NYSE: KSS) has reported that comparable sales decreased 13.3 percent in its third quarter, which ended Oct. 31, compared with the same period a year ago. That said, third-quarter sales and earnings exceeded company expectations, according to a news release. Shoppers are spending less on apparel during the pandemic, but Kohl’s says that its digital sales growth remains strong. The Menomonee Falls-based retailer says it has entered the holiday season with more omnichannel conveniences in place for its customers. Kohl’s stock price closed at $26.18 per share on Monday, Nov. 16, down from $58.40 per share one year ago. The retailer operates roughly 1,150 stores nationwide.

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COLUMBUS, OHIO — Core5 Industrial Partners has received construction financing to move forward with the development of C5 Southgate, a 437,000-square-foot, speculative industrial building in Columbus. The property will be situated on a 30-acre site near I-70. Patterson Real Estate Advisory Group arranged an undisclosed amount of construction financing through ServisFirst Bank in Atlanta. Core5 has developed more than 12 million square feet of industrial space since 2015.

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AVON, IND. — Thompson Thrift Retail Group (TTRG), a wholly owned subsidiary of Indianapolis-based Thompson Thrift, has sold Rockville Pointe in Avon near Indianapolis for $3 million. The 10,500-square-foot retail center is fully leased to Tropical Smoothie Café, The Good Feet Store, Spectrum, Papa Murphy’s and Family Allergy & Asthma. TTRG has owned the property since completing construction in 2009. Dylan Mallory of Hanley Investment Group Real Estate Advisors represented TTRG in the sale. C.F. Rockville LLC, a private investor from Bloomington, purchased the asset.

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STERLING HEIGHTS, MICH. — Brookside Village in Sterling Heights is now fully leased. Hanna’s Market signed a lease for the final 10,220-square-foot space at the Planet Fitness-anchored shopping center located about 25 miles north of Detroit. Hanna’s Market, which offers bakery items and fresh produce, plans to open in early 2021. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed landlord. Earlier this year, Gerdom represented the landlord in leases with Rehab Without Walls and Luma’s Fashion at the property.

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BURNSVILLE, MINN. — KW Commercial has arranged the $1.6 million sale of a 24,000-square-foot industrial building in Burnsville, about 17 miles south of Minneapolis. The property is situated on 1.8 acres along Riverwood Drive. Andy Manthei and Matt Klein of KW Commercial’s Apple Valley office represented the seller, Linvill Riverwood LLC, an affiliate of Minnetonka-based Linvill Properties Inc. Buyer information was undisclosed.

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LANSING, MICH. — The Michigan Department of Health and Human Services (MDHHS) has issued a new emergency order that enacts a three-week pause on indoor social gatherings and other group activities in effort to curb rapidly rising COVID-19 infection rates. Under this order, indoor residential gatherings are limited to two households at any one time. Bars and restaurants will be open for outdoor dining, carryout and delivery only. Gyms will remain open for individual exercise with strict safety measures in place. Casinos, movie theaters and group exercise classes will be closed. Professional and college sports with extreme safety measures in place may continue without spectators but all other organized sports will be prohibited. Colleges and high schools may proceed with remote learning, but in-person classes must end. The order takes effect Wednesday, Nov. 18. MDHHS says the order “is not a blanket stay-home action like in the spring.” As of Tuesday, Nov. 16, there were 251,813 confirmed cases of COVID-19 and 7,994 deaths in Michigan, according to the state’s website.

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MONTICELLO, MINN. — Upland Real Estate Group has brokered the $20 million sale of a 188,000-square-foot retail property occupied by Fleet Farm in Monticello, about 40 miles northwest of Minneapolis. The single-tenant, net-leased building is situated near I-94. Fleet Farm has 19 years remaining on its lease. The retailer operates 45 stores in five states and sells a variety of sports and outdoor equipment, appliances, automotive goods, apparel, hardware, tools and farm supplies. Keith Sturm, Deborah Vannelli, Amanda Leathers and Ed Engler of Upland brokered the sale. Buyer and seller information was not disclosed.

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