Midwest

BMO Opens New 25-Story Headquarters in Downtown Milwaukee

by Kristin Harlow September 11, 2020

MILWAUKEE — BMO Financial Group has opened its new Wisconsin headquarters building in downtown Milwaukee. Known as BMO Tower, the 25-story building is located at 790 N. Water St., immediately beside the company’s previous headquarters. Approximately 600 BMO employees will be based at the 336-foot-tall tower. The main floor features a new BMO branch for customers. Many aspects of the interior design of the workspaces pay tribute to BMO’s roots in Milwaukee. Many meeting and conference rooms are named after Milwaukee neighborhoods. Much of the artwork is from local artists. BMO Harris Bank is headquartered in Chicago.

September 11, 2020

Development Healthcare Illinois Midwest

MedProperties to Build 78,000 SF Medical Office Building Within $500M Redevelopment of Former McDonald’s Campus

by Kristin Harlow September 11, 2020

OAK BROOK, ILL. — MedProperties has received approval from the Oak Brook Village Board of Trustees to build a 78,000-square-foot medical office building within Oak Brook Commons, the $500 million redevelopment of the former McDonald’s campus in suburban Chicago’s Oak Brook. The seven-story outpatient facility will be known as Oak Brook Commons Medical. Plans call for a lobby area, immediate care clinic, comprehensive imaging suite and 281 covered parking spaces. Medical specialties will be determined at a later date to meet the needs of the community. The larger Oak Brook Commons development will be built in three phases, encompassing retail, restaurants, office, 72 condominium units, 250 apartment units, a 252-room hotel and a park. The medical office building will be part of Phase I with a completion date expected in 2022. Antunovich Associates is the project architect.

September 11, 2020

Midwest Ohio Retail

Kroger’s Digital Sales Surge 127 Percent in Second Quarter

by Kristin Harlow September 11, 2020

CINCINNATI — The Kroger Co. (NYSE: KR) has reported that its digital sales surged 127 percent in the second quarter, which ended Aug. 15. Consumers have been buying more groceries online as a result of the coronavirus. “Investments made to expand the company’s digital ecosystem are resonating well with customers,” says Rodney McMullen, chairman and CEO. In addition, the Cincinnati-based grocer’s operating profit of $820 million was up 43 percent compared with the same period a year ago. Total company sales were $30.5 billion in the second quarter, compared with $28.2 billion the same period last year. Kroger operates roughly 2,750 supermarkets nationally.

September 11, 2020

Acquisitions Illinois Midwest Retail

Cooper Group Arranges $3.3M Sale of Retail Center in North Aurora, Illinois

by Kristin Harlow September 11, 2020

NORTH AURORA, ILL. — Cooper Commercial Investment Group has arranged the sale of Clock Tower Plaza in North Aurora for $3.3 million. The 38,336-square-foot retail center is 60 percent occupied by tenants such as State Farm, Eddie’s Pizza & Pub and H&R Block. Bob Havasi and Dan Cooper of Cooper represented the buyer, an East Coast-based private investor completing a 1031 exchange. The seller was undisclosed.

September 11, 2020

Acquisitions Hospitality Iowa Midwest

Marcus & Millichap Brokers $1.6M Sale of Howard Johnson Hotel in Iowa

by Kristin Harlow September 11, 2020

BURLINGTON, IOWA — Marcus & Millichap has brokered the $1.6 million sale of a Howard Johnson hotel in Southeast Iowa’s Burlington. The 96-room property is located at 2759 Mt. Pleasant St. near the Catfish Bend Casino and Burlington Regional Airport. Ebrahim Valliani, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel on behalf of the seller, a limited liability company. The buyer information was undisclosed.

September 11, 2020

Development Hospitality Midwest Minnesota

Kraus-Anderson Completes Construction of $98M Omni Viking Lakes Hotel in Eagan, Minnesota

by Kristin Harlow September 10, 2020

EAGAN, MINN. — Kraus-Anderson (KA) has completed construction of the $98 million Omni Viking Lakes Hotel in Eagan, just south of Minneapolis. The 320-room hotel, located at 2611 Nordic Way, is scheduled to open Thursday, Oct. 1. The 381,163-square-foot property is part of the larger Viking Lakes mixed-use development that includes the Twin Cities Orthopedic Performance Center for the Minnesota Vikings, which KA completed in 2018. The 14-story hotel features 35,000 square feet of event space, including a ballroom and meeting areas. Amenities include a spa, fitness center, bar terrace and three dining options. MW Ventures owns the hotel. ESG Architects served as designer.

September 10, 2020

Loans Midwest Office Ohio

NorthMarq Arranges $13.5M Acquisition Loan for Office Campus in Beavercreek, Ohio

by Kristin Harlow September 10, 2020

BEAVERCREEK, OHIO — NorthMarq has arranged a $13.5 million loan for the acquisition of The Acropolis at Fairfield Commons in Beavercreek near Dayton. The 211,576-square-foot office property is located at 2611-2689 Commons Blvd. Susan Branscome of NorthMarq arranged the fixed-rate, 10-year loan, which features a 25-year amortization schedule. A life insurance company provided the loan.

September 10, 2020

Acquisitions Midwest Retail Wisconsin

Cleeman Realty Group Negotiates $7M Sale of Pick ’n Save-Occupied Property in Appleton, Wisconsin

by Kristin Harlow September 10, 2020

APPLETON, WIS. — Cleeman Realty Group has negotiated the sale of a freestanding retail property net leased to Pick ’n Save in Appleton for $7 million. The 79,711-square-foot building sits on nine acres at the corner of Wisconsin Avenue and Wilharms Drive. Jeremy Scheer of Cleeman represented the buyer, a California-based private investor. Rollie Winter & Associates represented the seller, a Wisconsin-based private investor.

September 10, 2020

Illinois Leasing Activity Midwest Retail

Three New Tenants to Open at Fox Valley Mall This Fall

by Kristin Harlow September 10, 2020

AURORA, ILL. — Three new tenants are set to open at Fox Valley Mall in Aurora this fall. Comedy Shrine, Mish Mash Adventures and Virtual Bites will occupy a combined 30,000 square feet. The 14,000-square-foot Comedy Shrine will be located on the second level between Macy’s and JC Penney. Three theaters will focus on stand-up acts, improv events and experimental theater. At the 11,454-square-foot Mish Mash Adventures, teams of two to six players will work to complete rooms and challenges as quickly as possible. Mish Mash staff will sanitize rooms once per hour and complete temperature checks on all guests due to COVID-19. The 4,056-square-foot Virtual Bites will serve as a ghost kitchen for professional food preparation. Customers will peruse various menus and order online before either picking up their food curbside or having it delivered. Ty Brown, owner of Pee Bee & Jay’s Café, is the creator of Virtual Bites.

September 10, 2020

Acquisitions Indiana Midwest Retail

Marcus & Millichap Brokers $1.6M Sale of PNC Bank Ground Lease in Indianapolis

by Kristin Harlow September 10, 2020

INDIANAPOLIS — Marcus & Millichap has brokered the sale of a PNC Bank ground lease in Indianapolis for $1.6 million. The 4,935-square-foot building sits on 1.6 acres at 4030 S. East St. Jordan Klink and Ben Sullivan of Marcus & Millichap’s The Klink Group marketed the property on behalf of the seller, a Michigan-based limited liability company. Agents from Marcus & Millichap’s Phoenix office represented the out-of-state, 1031 exchange buyer.

September 10, 2020

Newer Posts

Older Posts