Midwest

Stahl Completes Construction of $37.9M Army National Guard Readiness Center in Minnesota

by Kristin Harlow September 2, 2020

ARDEN HILLS, MINN. — Stahl has completed construction of the new $37.9 million Army National Guard Readiness Center in Arden Hills, about 10 miles northeast of Minneapolis. Designed by LEO A DALY, the 135,000-square-foot facility will serve as the headquarters for the Red Bull Infantry Division. In the last decade, the Red Bull unit has grown significantly in personnel, equipment and technology, says Stahl. The new facility provides training and secure administrative, work and storage areas. The project is expected to achieve LEED Silver certification.

September 2, 2020

Illinois Industrial Leasing Activity Midwest

NorthPoint Development Selects Cushman & Wakefield to Market Three Remaining Sites at Commerce Park Chicago

by Kristin Harlow September 2, 2020

CHICAGO — NorthPoint Development has selected Cushman & Wakefield to market the three remaining sites at Commerce Park Chicago. The sites offer up to an additional 1.9 million square feet of Class A industrial space. Located at the former Republic Steel site in Chicago’s Hegewisch neighborhood, Commerce Park Chicago is a 2.4 million-square-foot industrial park. Larry Goldwasser, Jason West and Colin Green of Cushman & Wakefield will represent Kansas City-based NorthPoint in both for-lease and build-to-suit opportunities.

September 2, 2020

Illinois Industrial Leasing Activity Midwest

Corteva Agriscience Leases 300,000 SF in Galesburg, Illinois

by Kristin Harlow September 2, 2020

GALESBURG, ILL. — Corteva Agriscience has leased 300,000 square feet at a former Maytag facility located at 1801 Monmouth Blvd. in Galesburg, about 45 miles northwest of Peoria. Corteva is an agricultural chemical and seed company. Phoenix Investors owns the building, which has been vacant since Maytag closed the plant over a decade ago. Phoenix purchased the facility in June 2019. Corteva will take occupancy this fall once renovations are completed.

September 2, 2020

Acquisitions Midwest Ohio Retail

Thompson Thrift Retail Group Sells Bank of America-Leased Property in Suburban Columbus

by Kristin Harlow September 2, 2020

GAHANNA, OHIO — Thompson Thrift Retail Group (TTRG), a wholly owned subsidiary of Indianapolis-based Thompson Thrift, has sold a freestanding retail property in the Columbus suburb of Gahanna for an undisclosed price. Bank of America and Merrill Lynch are scheduled to open at the two-story, 8,830-square-foot property later this year. The one-acre parcel is located at the northeast corner of Hamilton and Blendon Place roads. Dylan Mallory of Hanley Investment Group Real Estate Advisors represented TTRG in the sale. The buyer was undisclosed.

September 2, 2020

Acquisitions Indiana Midwest Office

Sturges Property Group Brokers Sale of 4,296 SF Office Building in Fort Wayne

by Kristin Harlow September 2, 2020

FORT WAYNE, IND. — Sturges Property Group has brokered the sale of a 4,296-square-foot office building located at 608 Union Chapel Road in Fort Wayne. The sales price was undisclosed. Neal Bowman and Phil Hagee of Sturges represented the seller, Nolan Commercial Property, as well as the buyer, Professional Emergency Physicians.

September 2, 2020

Development Illinois Midwest Multifamily Seniors Housing

Capitol Seniors Housing Completes Development of 86-Unit Facility in Suburban Chicago

by Kristin Harlow September 1, 2020

HIGHLAND PARK, ILL. — Developer Capitol Seniors Housing has completed the development of Atria Highland Park, an 86-unit assisted living and memory care community in the Chicago suburb of Highland Park. Atria Senior Living operates the three-story, 72,000-square-foot property. Designed by Mosely Architects and StudioSix5, the community includes amenities such as a library, theater, art studio, multi-purpose room, fitness center, wellness center, restaurant, bistro and private dining room. There are 22 memory care suites. The community sits on 2.6 acres near the Sunset Valley Golf Course. Core Construction was the general contractor.

September 1, 2020

Michigan Midwest Retail

MGM Grand Detroit to Cut 1,100 Workers

by Kristin Harlow September 1, 2020

DETROIT — The MGM Grand Detroit casino plans to cut about 1,100 jobs as part of a national downsizing plan from MGM Resorts International, according to media reports. Nationwide, MGM is laying off 18,000 of its furloughed workers, citing slow business amid the COVID-19 pandemic. MGM Grand Detroit and the city’s two other casinos, MotorCity Casino Hotel and Greektown Casino-Hotel, reopened at 15 percent capacity on Aug. 5.

September 1, 2020

Acquisitions Midwest Missouri

US Carriers Buys 16 Acres Along Mississippi River in North St. Louis

by Kristin Harlow September 1, 2020

ST. LOUIS — US Carriers has purchased 16 acres along the Mississippi River in north St. Louis City for an undisclosed price. The land is located at 9320 and 9350 Riverview Drive within an opportunity zone. Steve Stradal, Brian Kelley and George Convy of Avison Young represented the seller, the estate of the late artist and sculptor Bob Cassily. The land was intended to be a part of Cassily’s public art exhibit, Cementland. Avison Young is currently marketing for sale the other 40 acres of Cementland at 9403 Riverview Drive.

September 1, 2020

Acquisitions Illinois Midwest Multifamily Retail

Interra Realty Brokers $5.6M Sale of Apartment, Retail Building in Chicago

by Kristin Harlow September 1, 2020

CHICAGO — Interra Realty has brokered the $5.8 million sale of an apartment and retail building located at 2020-36 W. Montrose Ave. in Chicago’s Ravenswood neighborhood. Built in 1927, the property includes 22 apartment units situated above nine retail spaces. At the time of sale, the apartments were 94 percent occupied and the retail spaces were fully leased. Joe Smazal of Interra represented both the undisclosed buyer and seller.

September 1, 2020

Acquisitions Kansas Midwest Restaurant Retail

Block & Co. Acquires Sonic-Occupied Property in Overland Park, Kansas

by Kristin Harlow September 1, 2020

OVERLAND PARK, KAN. — Two investment groups headed by Block & Co. Inc. Realtors have acquired a 1,434-square-foot property net leased to Sonic in Overland Park for an undisclosed price. The restaurant sits on .8 acres at 10701 Roe Ave. Block & Co. will manage the property. David Block and Max Kosoglad of Block & Co. represented the buyers. Micah Feingold Commercial Real Estate represented the seller.

September 1, 2020

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