Midwest

KDC Tops Out Headquarters for Sammons Financial Group in West Des Moines

by Kristin Harlow January 20, 2020

WEST DES MOINES, IOWA — Developer KDC has topped out the new corporate headquarters for Sammons Financial Group in West Des Moines. The six-story, 217,000-square-foot Class A office building will house 600 employees. Completion of the property is slated for this fall. The building will include a two-story amenity area. Sammons is a privately held company that provides life insurance, annuity and retirement planning products. The Weitz Co. is the general contractor. SVPA and HKS are project architects.

January 20, 2020

Development Healthcare Indiana Midwest

WB Development, New Era Purchase Land for Development of Hospital Project in Carmel, Indiana

by Kristin Harlow January 20, 2020

CARMEL, IND. — WB Development Partners and New Era Cos. have purchased five acres at 1260 City Center Drive in Carmel and plan to develop a 46,395-square-foot inpatient rehabilitation hospital. Bruce Gordon of JLL brokered the land sale on behalf of the buyers. Known as the Indianapolis Rehabilitation Hospital, the property is expected to open in the fourth quarter of this year. Nobis Rehabilitation Partners will manage the hospital, which will offer services for patients with complex medical, nursing and rehabilitative needs.

January 20, 2020

Acquisitions Industrial Midwest Missouri Self-Storage

Block & Co. Arranges $10M Sale of Self-Storage Facility in Independence, Missouri

by Kristin Harlow January 20, 2020

INDEPENDENCE, MO. — Block & Co. Inc. Realtors has arranged the sale of a 28.6-acre self-storage property in Independence for $10 million. The facility features 741 enclosed units and 450 parking stalls. William Glasgow of Block & Co. represented the seller, Lake City U-Store. The buyer, State Storage Group Kansas City LLC, plans to modernize the entire facility with computer-automated climate control and other technological systems.

January 20, 2020

Acquisitions Industrial Midwest Wisconsin

Barry Co. Brokers Sale of 54,417 SF Industrial Building in Waukesha, Wisconsin

by Kristin Harlow January 20, 2020

WAUKESHA, WIS. — The Barry Co. has brokered the sale of a 54,417-square-foot industrial building in Waukesha for an undisclosed price. The seller, Grace Elizabeth LLC, purchased the facility in 2016. The tenant, W.M. Sprinkman Corp., is a division of Krones AG and specializes in manufacturing food and beverage processing equipment. Pilot Court Industrial Property Group LLC purchased the building, which is located at 404 Pilot Court. David Barry of The Barry Co. brokered the sale.

January 20, 2020

Loans Midwest Multifamily South Dakota

NorthMarq Arranges $35.4M in Acquisition Financing for Multifamily Portfolio in Sioux Falls, South Dakota

by Kristin Harlow January 17, 2020

SIOUX FALLS, S.D. — NorthMarq has arranged $35.4 million in acquisition financing for seven multifamily properties in Sioux Falls. The affordable communities comprise 525 units. The seven Freddie Mac loans range from $1.9 million to $9.3 million. Brett Hood of NorthMarq arranged each of the 15-year loans, which feature 30-year amortization schedules.

January 17, 2020

Acquisitions Industrial Midwest Ohio

Reichle Klein Group Brokers $2.7M Sale of Industrial Facility Near Toledo

by Kristin Harlow January 17, 2020

PERRYSBURG, OHIO — Reichle Klein Group has brokered the $2.7 million sale of a 45,630-square-foot industrial facility in Perrysburg, just south of Toledo. The four-building property sits on 32 acres at 26933 Eckel Road. Jerry Malek of Reichle Klein represented the seller, Welded Construction LP. Malek also assisted the buyer, Perrysburg LLC.

January 17, 2020

Leasing Activity Michigan Midwest Office

Law Firm Leases 13,285 SF at Office Park in Troy, Michigan

by Kristin Harlow January 17, 2020

TROY, MICH. — Full-service law firm Garan Lucow Miller PC has leased 13,285 square feet at Timberlands IV, one of the three Class A office buildings within Timberlands Office Park in Troy. The building is situated at 1450 W. Long Lake Road. The law firm is relocating its Troy office after 25 years in its previous space at 1111 W. Long Lake Road. Bill Harvey, Chuck Howard and Neil Leising of Transwestern Commercial Services represented the landlord, FD Stonewater. Timberlands Office Park is undergoing renovations, including upgraded food service, conference centers, tenant lounges and lobbies, as well as the addition of outdoor seating areas with Wi-Fi.

January 17, 2020

Acquisitions Midwest Ohio Retail

Cooper Group Negotiates $2.1M Sale of CVS-Occupied Property in Akron, Ohio

by Kristin Harlow January 17, 2020

AKRON, OHIO — The Cooper Commercial Investment Group has negotiated the sale of a 10,125-square-foot retail property occupied by CVS Pharmacy in Akron for $2.1 million. CVS has more than 18.5 years remaining on its lease term. Bob Havasi and Dan Cooper of Cooper Group represented the seller, an Ohio-based private investor. A private Texas-based investor purchased the asset at a cap rate of 6 percent.

January 17, 2020

Acquisitions Illinois Midwest Retail

Mid-America Brokers $1.1M Sale of Retail Building in Evergreen Park, Illinois

by Kristin Harlow January 17, 2020

EVERGREEN PARK, ILL. — Mid-America Real Estate Corp. has brokered the $1.1 million sale of an outlot at Evergreen Marketplace in Evergreen Park, about 15 miles south of Chicago. The 5,851-square-foot retail building is home to Cousins Subs, Hair Cuttery and The Crazy Crab. Ben Wineman and Emily Gadomski of Mid-America represented the seller, Sterling Bay. A private buyer purchased the asset.

January 17, 2020

Loans Midwest Minnesota Multifamily

Dougherty Mortgage Provides $53.5M Construction Loan for Townhome Project in Woodbury, Minnesota

by Kristin Harlow January 16, 2020

WOODBURY, MINN. — Dougherty Mortgage LLC has provided a $53.5 million HUD 221(d)(4) loan for the construction of Sundance at Settler’s Ridge, a 218-unit rental townhome project in Woodbury. Situated on a 23.2-acre site, the project will encompass 23 two-story buildings. Plans also call for a 4,300-square-foot clubhouse with a kitchen, coffee bar and fitness center. Additional amenities will include a pool, fire pit, dog park, dog spa and community garden. Dougherty originated the 40-year loan on behalf of the borrower, SD Woodbury Property LLC. A timeline for completion was not disclosed.

January 16, 2020

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