MILLSTADT, ILL. — Barber Murphy has brokered the sale of a 21,000-square-foot industrial building in Millstadt, about 17 miles southeast of St. Louis. The sales price was not disclosed. The property is located at 600 S. Breese St. In-Land Management Group LLC sold the asset to East Washington Street Property LLC. Barber Murphy represented both parties in the sale.
CALEDONIA, MICH. — Taco Bell will open a 2,710-square-foot location at 6445 Cherry Meadow Drive SE in Caledonia, about 20 miles southeast of Grand Rapids. The restaurant is expected to open in November and create 40 jobs. Mike Murray of Colliers International assisted Taco Bell in securing land for the new-construction building. Wolverine Building Group was the general contractor. There are 55 Taco Bell locations across West Michigan, according to Colliers.
CHANNAHON, ILL. — Amazon has unveiled plans to open a fulfillment center in Channahon, southwest of Joliet. The facility will create more than 500 new full-time jobs. Employees at the more than 1 million-square-foot center will pick, pack and ship large items, such as sports equipment, patio furniture, fishing rods, pet food, kayaks, bicycles and household goods. Amazon currently employs more than 11,000 full-time associates throughout the state of Illinois.
DAVENPORT, IOWA — Berkadia has arranged the sale of a 413-unit, four-property multifamily portfolio in Davenport for an undisclosed price. The properties, built in the late 1970s, include The Racquet Club, Candlelight Commons, Candlelight Village and Candlelight Colony. Parker Stewart, Alex Blagojevich and Michael Sullivan of Berkadia represented the seller, Iowa-based Advance Homes Inc. Colorado-based Monarch Investment and Management Group purchased the portfolio. Peter Benedetto of Berkadia secured an undisclosed amount of acquisition financing on behalf of the buyer.
SEVEN HILLS, OHIO — Anchor Cleveland has negotiated the sale of a 120,000-square-foot property formerly occupied by Kmart in suburban Cleveland for $3.5 million. The 14-acre sale also included vacant land and existing adjacent buildings. Matt Wilson of Anchor Cleveland represented the buyer, Meijer Stores. Florida-based Kin Properties was the seller.
COLUMBUS, OHIO — Marcus & Millichap has brokered the sale of a 3,480-square-foot property net leased to Sherwin-Williams in Columbus for $1.9 million. Built in 2016, the property is located at 634 S. High St. Dan Yozwiak of Marcus & Millichap marketed the building for sale on behalf of the seller, a limited liability company. Yozwiak also represented the buyer, a limited liability company.
ST. AUGUSTA, MINN. — KW Commercial has arranged the sale of Delux Retail Center, a 15,310-square-foot retail center in St. Augusta near St. Cloud. Snap Fitness and Delux Liquor anchor the property, which is located at 24086 State Highway 15. Matthew Klein and Anthony Passanante of KW Commercial/AMK Properties represented the buyer, MSK Realty LLC, which purchased the asset for $975,000. Steve Feneis and Maria Berdan of Granite City Real Estate represented the undisclosed seller.
GLENDALE, WIS. — Cypress Equities has acquired the 1.2 million-square-foot Bayshore Town Center in Glendale near Milwaukee. The purchase price was not disclosed. Cypress plans to reposition the property into an entertainment, shopping, dining and mixed-use project. Once complete, the re-envisioned center will include new architecture, landscaping and art by local creatives. Plans call for more retailers, restaurants, a select-service hotel, 300 new residential units, Class A office space and coworking space. The park area will be upgraded and include programmed, year-round entertainment. The project will be completed in phases through late 2020.
KANSAS CITY, KAN. — Newmark Grubb Zimmer has arranged the sale of a 517,391-square-foot industrial building in Kansas City for an undisclosed price. Overstock.com, an online furniture and home goods retailer, and Riverside Transport fully occupy the property, which is located at 5300 Kansas Ave. Mark Long and John Hassler of NGZ brokered the transaction. Sealy & Co. purchased the asset from BH Properties.
ALGONQUIN, ILL. AND EARTH CITY, MO. — NAI Hiffman has negotiated the sale-leaseback of several properties occupied by Young Innovations Inc. for $17.1 million. Young Innovations is a manufacturer and distributor of consumable dental supplies and equipment. The assets include the company’s 95,000-square-foot headquarters at 2260 Wendt St. in Algonquin as well as the firm’s three manufacturing facilities totaling 117,400 square feet in Earth City, a suburb of St. Louis. Young Innovations will maintain operations at all properties under a 20-year lease with the buyer, New York-based New Mountain Net Lease. Pat Sullivan and Ryan Chambers of NAI Hiffman brokered the sale.