Midwest

Conor Commercial to Develop 162,000 SF Industrial Facility in Palatine, Illinois

by Kristin Harlow April 28, 2020

PALATINE, ILL. — Conor Commercial Real Estate will develop a 162,000-square-foot industrial facility on behalf of a major e-commerce retailer in Palatine, a northwest suburb of Chicago. Amazon is the tenant, according to Crain’s Chicago Business. The build-to-suit distribution center will serve as a last-mile logistics facility. The project, initially planned as a speculative facility known as Northwest Commerce Center, has been adjusted to fit the tenant’s needs. It will feature 146,750 square feet of distribution and warehouse space and 15,250 square feet of office space. Other features include a clear height of 36 feet, 20 truck docks, 14 loading doors and a conveyor system. Completion is slated for October. McShane Construction Co. is the general contractor and Ware Malcomb is the architect.

April 28, 2020

Acquisitions Michigan Midwest Multifamily

RHP Properties Acquires Detroit-Area Manufactured Home Community

by Kristin Harlow April 28, 2020

OAKLAND TOWNSHIP, MICH. — RHP Properties has acquired Woodlands Estates, a 375-site manufactured home community in Oakland Township, about 30 miles north of Detroit. The purchase price was undisclosed. The pet-friendly community features a clubhouse, pool, fitness center, resident garden and playground. RHP plans to upgrade the amenities and add a business center. This is RHP’s 18th property in Michigan. The company now owns and operates 260 manufactured home communities nationwide.

April 28, 2020

Midwest Ohio

Kroger Health Expands Free Drive-Thru Testing Sites for COVID-19

by Kristin Harlow April 27, 2020

CINCINNATI — Kroger Health, the healthcare division of The Kroger Co., has expanded free COVID-19 testing sites to Colorado, Michigan, Ohio and Tennessee, joining existing sites in Kentucky and Tennessee. Kroger pharmacists will be able to initiate the lab order and observe self-administered testing where allowable by law. For the testing, patients remain in their cars and use self-administered nasal swabs. Testing services are provided at no cost to all priority groups, including healthcare workers, first responders and symptomatic individuals. Kroger Health testing sites are generally located off-site at closed schools, businesses or public grounds. Additionally, the company will begin piloting site-specific testing for Kroger associates in Michigan and Colorado.

April 27, 2020

Michigan Midwest

Michigan Governor Extends Stay Home, Stay Safe Order Through May 15

by Kristin Harlow April 27, 2020

MICHIGAN — Michigan Gov. Gretchen Whitmer has extended the state’s “Stay Home, Stay Safe” order through May 15. The new order will also require citizens to wear face coverings when they enter enclosed public spaces. Some restrictions on outdoor activities will be lifted. Landscapers, lawn-service companies and nurseries can return to work. Retailers that do not sell necessary supplies may reopen for curbside pickup or delivery. As of Sunday, April 26, there were 37,778 cases of COVID-19 and 3,315 deaths in Michigan, according to the state’s website.

April 27, 2020

Acquisitions Healthcare Illinois Midwest Wisconsin

HSA PrimeCare Sells Four-Building Medical Office Portfolio in Illinois, Wisconsin

by Kristin Harlow April 27, 2020

ILLINOIS AND WISCONSIN — HSA PrimeCare, the national healthcare real estate division of HSA Commercial Real Estate, has sold a four-building medical office portfolio to Irvine, Calif.-based IRA Capital. The buildings, spanning a total of 107,828 square feet, are located in Illinois and Wisconsin. HSA PrimeCare will continue to manage the assets on behalf of IRA. Mike Wilson and Erik Foster of Avison Young represented HSA PrimeCare in the transaction. The properties include: Advocate Good Samaritan South in Downers Grove, Ill.; Hawthorn Surgery Center in Vernon Hills, Ill.; Advocate Aurora Health Beverly Clinic in Chicago; and Advocate Aurora Health Muskego Clinic in Muskego, Wis. IRA Capital is a private equity firm that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, family offices and individuals. IRA primarily invests in commercial real estate assets throughout the United States, with an overweight concentration within the medical/healthcare sector.

April 27, 2020

Acquisitions Michigan Midwest Retail

Mid-America Arranges Sale of Roseville Towne Center in Suburban Detroit

by Kristin Harlow April 27, 2020

ROSEVILLE, MICH. — Mid-America Real Estate Corp. has arranged the sale of Roseville Towne Center in Roseville, about 15 miles north of Detroit. The sales price was undisclosed. The 89,883-square-foot shopping center is home to Marshalls, CVS Pharmacy, Five Below and Dollar Tree. Ben Wineman, Carly Gallagher Kelly and Daniel Stern of Mid-America represented the seller, Cincinnati-based Viking Partners. Ferris Hamama of Keystone Commercial Real Estate represented the buyer, a private investor completing a 1031 exchange.

April 27, 2020

Acquisitions Civic Michigan Midwest

Eastern Michigan University Unveils Plan to Relocate College of Business to Central Campus

by Kristin Harlow April 27, 2020

YPSILANTI, MICH. — Eastern Michigan University has unveiled plans to relocate the College of Business to its central campus. The move includes the selling of the Gary Owens Building, present home of the College of Business. The Board of Regents approved the sale of the 122,000-square-foot building to River Caddis Development for $2.7 million. Boone Hall will serve as the new location for the College of Business. The building will undergo a renovation beginning in April 2021, but the building’s size will remain at 45,210 square feet. The relocation will reduce utility, maintenance and transportation costs that the university currently incurs by housing the College of Business away from central campus.

April 27, 2020

Development Midwest Top Stories Wisconsin

Zilber to Redevelop Former Race Track in Wisconsin to 240-Acre Mixed-Use Property

by Taylor Williams April 27, 2020

KENOSHA, WIS. — Locally based developer Zilber Property Group has unveiled plans to redevelop the site of the former Dairyland Greyhound Park into a 240-acre mixed-use property. The property was a dog-racing track and facility in Kenosha, located south of Milwaukee near the Illinois border. The track closed roughly a decade ago. California-based Majestic Property Co. acquired the site in late 2017 with plans to build a 2 million-square-foot industrial park that never materialized. The site was also the proposed location of a Hard Rock casino project that was rejected by the state in 2015, according to Kenosha News, a local newspaper. Zilber is partnering with the Forest County Potawatomi Community, a federally recognized Native American tribe and owner of the land, on the project. “Given our history and tribal ties to the area, the Dairyland property purchase made a lot of sense,” says Jeff Crawford, tribal attorney general for the Potawatomi. “It also meets our goals of economic diversification.” The new redevelopment will be branded Greeneway and will include office, retail, industrial and multifamily uses. Specifically, plans currently call for roughly 2 million square feet of industrial space across several buildings, a multifamily community with up to 360 units …

April 27, 2020

Acquisitions Midwest Office Ohio Top Stories

Zamir Equities Acquires 538,437 SF Columbia Plaza Office Building in Downtown Cincinnati

by Alex Patton April 24, 2020

CINCINNATI — Zamir Equities LLC, a private equity investment firm based in New York City, has acquired Columbia Plaza, a 538,437-square-foot office building in downtown Cincinnati. The 29-story tower is located at 250 E. 5th St. near the entertainment districts of Newport and Covington, as well as The Banks, the home stadium of the Cincinnati Bengals and Reds. The building was constructed in 1984. Columbia Plaza’s amenities include a fitness center with classes, a 3,000-square-foot tenant lounge, conference facilities, outdoor plaza, cafe, dry cleaning, car washing and detailing, art gallery and transportation services. The property also features a 494-space underground parking garage. The location in Cincinnati’s central business district offers convenient access to Interstates 71 and 75. The seller, New York City-based HighBrook Investors, acquired the property in 2015 and invested approximately $10 million in capital improvements during its ownership. Renovations included expansion of the lobby to 10,000 square feet, upgrading the building’s outdoor space and parking garage and renovations to the bathrooms and other common areas. At the time of sale, the property was approximately 76 percent leased. Western & Southern Financial Group anchor the tower with a 540,000-square-foot office lease across the top seven floors. The company moved into …

April 24, 2020

Illinois Midwest

Illinois Governor Extends Stay-at-Home Order Through May

by Kristin Harlow April 24, 2020

ILLINOIS — Illinois Gov. J.B. Pritzker has extended the state’s stay-at-home order through the end of May in effort to fight the spread of the coronavirus. There are also new modifications to the executive order. For example, state parks will begin a phased reopening under guidance from the Department of Natural Resources. Golf will be permitted under strict safety guidelines. Greenhouses, garden centers and nurseries may reopen as essential businesses. Non-essential retail may reopen to fulfill telephone and online orders through pickup or delivery. Beginning May 1, individuals will be required to wear a face covering or a mask when in a public place where they can’t maintain a six-foot distance. The new requirement applies to all citizens over the age of 2. Essential businesses and manufacturers will be required to provide face coverings to employees and follow occupancy limits. Educational institutions may now allow and establish procedures for pickup of necessary supplies or student belongings. Dormitory move-outs must follow public health guidelines. The Illinois Department of Public Health (IDPH) will also be issuing guidance to surgery centers and hospitals to allow for certain elective surgeries for non-life-threatening conditions beginning May 1. As of Thursday, April 23, there were 36,934 …

April 24, 2020

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