ST. PETERS, MO. — Pappy’s Smokehouse is the latest business to join the tenant roster at The Shoppes at Mid Rivers in the suburban St. Louis community of St. Peters. The 2,800-square-foot restaurant is expected to open by the end of this month. This is the second location for Pappy’s, which serves signature dry-rubbed baby back ribs. GBT Realty Corp. owns The Shoppes at Mid Rivers, which opened in 2018 and is home to a mix of retailers such as Academy Sports, HomeGoods, Ulta, Marshalls and Outback Steakhouse.
DETROIT — The Detroit City Council has approved the sale of the former Michigan State Fairgrounds, providing the green light for a $400 million redevelopment of the site. Detroit-based Sterling Group and Dallas-based Hillwood Investment Properties have agreed to pay $9 million for the land, with plans to build a 3.8 million-square-foot distribution center for Amazon at the property. The e-commerce giant will occupy half of the 142-acre site, located at the corner of Woodward Avenue and 8 Mile Road. Its facility is projected to bring more than 1,200 new full-time jobs to the area. The remaining acreage will be dedicated to auto part suppliers or other employers, according to the developers. The Michigan State Fair took place annually in Detroit from 1849 to 2009 when the publicly funded event was removed from the budget. In 2011, the fair went private and moved to nearby Novi. The redevelopment plans call for the demolition of several buildings at the old fairgrounds, including the 5,600-seat arena built in 1922, according to local news outlets. The project also includes the development of a new indoor transit center to replace the current one on Woodward Avenue near the fairgrounds. As part of the agreement, …
KANSAS CITY AND PARK CITY, KAN. — Amazon.com Inc. has unveiled plans to open two new fulfillment centers in the state of Kansas. The centers, which are expected to open in 2021, will together create more than 1,000 new, full-time jobs. Each facility will span roughly 1 million square feet. One will be located at 9700 Leavenworth Road in Kansas City while the other will be located at 7130 N. Broadway Ave. in Park City. Amazon associates will pick, pack and ship bulky or large items such as patio furniture, outdoor equipment and rugs. Amazon also says it plans to open a new delivery station in Wichita. Since 2010, Amazon has created more than 4,500 jobs in Kansas and invested nearly $3 billion across the state.
VERNON HILLS, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 30,356-square-foot industrial building in Vernon Hills, a northern suburb of Chicago. The purchase price was undisclosed. The transaction was structured as a sale-leaseback with H&H Graphics. Located at 450 Corporate Drive and constructed in 1991, the building features two docks, one drive-in door and parking for 40 cars. Brian Bocci of Entre Commercial Realty represented Venture One. VK Industrial V is a partnership between Venture One and Kovitz Investment Group.
STREETSBORO, OHIO — Slim Chickens, a fast-casual restaurant, has opened its newest location in Streetsboro, about 30 miles southeast of Cleveland. David Giesen is the franchisee behind the Streetsboro restaurant. He has opened 16 restaurant franchises with the Arby’s and Freddy’s brands. The Streetsboro Slim Chickens is expected to create 75 new jobs in the community. Since its founding in 2003, Slim Chickens has grown to more than 100 restaurants in 17 states with a goal of opening 600 restaurants by 2025. This is the brand’s second location in Ohio. Fayetteville, Ark.-based Slim Chickens is known for its fried chicken and Southern-inspired sides.
MIDLAND, MICH. — The Boulder Group has brokered the $1.4 million sale of a 9,002-square-foot property occupied by Dollar General in Midland, about 28 miles east of Mount Pleasant. The single-tenant building is located at 3401 James Savage Road. Dollar General has a 15-year lease at the newly built property. A Midwest-based developer sold the asset to a Midwest-based real estate investor. Randy Blankstein and Jimmy Goodman of Boulder represented both parties in the transaction.
NOVI, MICH. — Motor City Floors and Coatings has purchased a new 8,180-square-foot building on Grand River Avenue in Novi that will serve as the company’s headquarters. The company, which specializes in concrete coatings for residential, commercial and industrial uses, is relocating from Commerce Township. Michael Murphy of Gerdom Realty & Investments represented Motor City. Jim Montgomery of Signature Associates represented the seller. The sales price and seller were undisclosed.
ROMEOVILLE, ILL. — Colliers International has arranged the sale of a 648,960-square-foot distribution center occupied by Samsung in Romeoville. The Class A facility is located within Pinnacle Business Center, just south of the full interchange at I-55 and Weber Road. Samsung has occupied the building since 2012 and uses the facility as its primary Chicago-area distribution center for all appliance lines. Samsung recently renewed its lease. Jeff Devine and Steve Disse of Colliers represented the seller, LaSalle Investment Management. Exeter Property Group purchased the asset for an undisclosed price.
FORSYTH, ILL. — A New York-based partnership between Mason Asset Management, Namdar Realty Group and CH Capital Group has acquired Hickory Point Mall in Forsyth, about 45 miles east of Springfield. The 826,347-square-foot mall opened in 1978. Anchor tenants include Kohl’s, Von Maur, TJ Maxx, Hobby Lobby, Ulta Beauty and Ross Dress for Less. Eastdil brokered the transaction. CBL & Associates was the seller, according to local media reports. Elliot Nassim, president of Mason Asset Management, says the new owners are exploring all options to redevelop some of the vacant spaces at the property.
BARTLETT, ILL. AND PHOENIX, ARIZ. — NAI Hiffman has negotiated the sale of a three-building industrial portfolio in Bartlett, a western suburb of Chicago, and Phoenix. The GSI Family Office, along with Greco/DeRosa Investment Group, sold the portfolio to a discretionary fund managed by CBRE Global Investors. The properties include: 1323 Brewster Creek Blvd. and 1550 Hecht Drive in Bartlett; and 4450 N. 45th Ave. in Phoenix. They are home to seven tenants. Pat Sullivan, Ryan Chambers and Jeff Fischer of NAI Hiffman represented the seller. Tony Lydon and John Lydon of JLL assisted in the sale of the Phoenix property. Built in 2017, 1323 Brewster Creek Blvd. spans 421,354 square feet and features 48 docks, 800 car parking spaces and a clear height of 32 feet. It was the first building in Brewster Creek Business Park, which is now home to more than 1 million square feet of food-related tenants. Built in 2006, 1550 Hecht Drive serves as the headquarters for Greco Foods. The 209,628-square-foot warehouse offers an office and cold storage component. The Phoenix asset, built in 2017, spans 368,478 square feet.