FOX RIVER GROVE, ILL. — Baceline Investments has acquired Foxmoor Crossing in Fox River Grove, about 50 miles northwest of Chicago. The purchase price was undisclosed. The 22,408-square-foot shopping center is 84 percent leased to tenants such as Panera Bread, T-Mobile, Merle Norman Cosmetics and the UPS Store. Foxmoor Crossing marks the 72nd property in Baceline’s core income fund. The Denver-based company owns neighborhood shopping centers in 27 different metro areas across the country.
WESTMONT, ILL. — Whiskey Hill Brewery & Kitchen has leased 3,740 square feet at Quincy Station in Westmont, about 18 miles west of Chicago. The company will operate a restaurant and bar at the new space. Whiskey Hill currently operates a production facility and tap room in Westmont. Restaurant industry veterans Matt Weil and Rob Salerno founded the company in 2018. Michael O’Connor of Holladay Properties negotiated the new lease at Quincy Station, which is a residential and retail project slated for completion in December 2021.
ALBERT LEA, MINN. — Upland Real Estate Group Inc. has brokered the $1.1 million sale of a two-tenant retail property in Albert Lea in southern Minnesota. Located on Bridge Avenue, the 7,000-square-foot, newly remodeled building is home to Verizon and Qdoba. It serves as an outparcel to Northbridge Mall. Keith Sturm, Deborah Vannelli and Amanda Leathers of Upland represented the seller. Pete Guidera and Tina Swanson of Coldwell Banker Realty represented the buyer. Neither the buyer nor the seller was disclosed.
ANN ARBOR, MICH. — Domino’s Pizza Inc. (NYSE: DPZ) reported that its U.S. same-store sales grew 17.5 percent in the third quarter compared with the same period last year. The Ann Arbor-based pizza chain says it was positively impacted by customers ordering more takeout during the COVID-19 pandemic. Global retail sales increased 14.4 percent in the third quarter to more than $3.7 billion. Revenues increased $146.9 million or 17.9 percent, while net income increased $12.8 million or 14.8 percent. As of Oct. 5, Domino’s estimates that fewer than 300 international stores are temporarily shuttered. There are more than 17,200 Domino’s stores in over 90 markets.
BETHALTO, ILL. — Berkadia has provided an $18.3 million Fannie Mae loan for the refinancing of Metro Apartments at Bethalto, a 351-unit multifamily complex in Bethalto, northeast of St. Louis. The garden-style asset is located at 190 Rue Sans Souci. It features one-, two- and three-bedroom floor plans along with a basketball court, playground, baseball field and outdoor grilling areas. John Schorgl of Berkadia originated the loan on behalf of the borrower, Missouri-based KH Properties. The 12-year loan features a fixed interest rate at low-3 percent with two years of interest-only payments, a 75 percent loan-to-value ratio and a 30-year amortization schedule.
COLUMBUS, OHIO — True Food Kitchen has opened its first Ohio restaurant at Easton Town Center in Columbus. The restaurant brand was founded in 2008 by Sam Fox and Dr. Andrew Weil, creator of the anti-inflammatory diet, which involves selecting foods that help fight chronic inflammation. True Food Kitchen serves a variety of vegetarian, vegan and gluten-free options. As a result of COVID-19, the restaurant is currently offering family to-go meals and carryout cocktails. The dining room includes 27 tables that are spaced six feet apart. The restaurant also includes an outdoor patio. There are 34 True Food Kitchen locations in 15 states.
KENOSHA, WIS. — Marcus & Millichap has arranged the $2.8 million sale of a Value Inn hotel in Kenosha, about 35 miles south of Milwaukee. The 112-room property, built in 1988, will be converted into a Rodway Inn by Choice Hotels. Ebrahim Valliani, Michael Klar, Allan Miller and Chris Gomes of Marcus & Millichap secured and represented the buyer, a private investor. Seller information was not disclosed.
DEFOREST, WIS. — Lee & Associates has brokered the $1.1 million sale of a 16,000-square-foot industrial building in DeForest, just north of Madison. The property is located at 4159 Reardon Road. Blake George of Lee & Associates represented the seller, CHEEE Holdings LLC. The buyer, CAH CO DeForest LLC, will use the property as a vehicle maintenance facility for Hooper Corp.
CHICAGO — Optima Inc. has begun development of Optima Lakeview, a 198-unit luxury apartment project in Chicago’s Lakeview neighborhood. The seven-story, transit-oriented development will replace a shuttered Treasure Island grocery store and parking lot. Designed by Hovey, the project also includes 14,000 square feet of street-level commercial space. Residents will have access to 40,000 square feet of amenities, including a rooftop sky deck, pool, indoor basketball court, golf simulator, fitness center, yoga room, sports lounge, pet spa, game room, business center and two conference rooms. The building will offer 94 fully enclosed parking spaces and storage for 208 bicycles. Optima says it designed larger floor plans to accommodate dedicated space for a home office in today’s work-from-home environment. Completion is slated for March 2022.
CHICAGO — McDonald’s reported that its U.S. same-store sales rose 4.6 percent in its third quarter, which ended Sept. 30. President and CEO Chris Kempczinski cites the fast food chain’s drive-thru presence, delivery and digital capabilities as furthering its competitive advantage. The Chicago-based company says that more Americans turned to McDonald’s for dinner and promotional activity such as the Travis Scott meal drove sales. McDonald’s plans to release full third-quarter earnings before the market opens Nov. 9 and will also broadcast its investor earnings conference call that day.