CENTRALIA, ILL. — Marcus & Millichap has arranged the sale of a 13,650-square-foot property occupied by Walgreens in Centralia, about 60 miles east of St. Louis. The sales price was undisclosed. The building is located at 225 N. Elm St. and features a pharmacy drive-thru window. Walgreens has operated at the property since 2003. Brian Parmacek and Victor Cornelio of Marcus & Millichap marketed the building on behalf of the seller and procured the buyer, One Family Property.
CADILLAC, MICH. — Woda Cooper Cos. Inc. has completed a $3.2 million rehabilitation of the 24-unit Maple Hill Apartments in Cadillac in northwest Michigan. The project scope included new kitchens, baths, flooring, windows, doors, plumbing, insulation, roofs, energy-efficient HVAC systems and landscaping. Woda Cooper received federal low-income housing tax credits allocated by the Michigan State Housing Development Authority as well as loans from Bellwether Enterprise to finance the rehabilitation. InSite Capital invested in the tax credits and Chemical Bank provided a construction loan.
OMAHA — Lanoha Real Estate Co. Inc. has been selected to develop The Row at Heartwood Preserve in Omaha. Applied Underwriters Inc. owns Heartwood Preserve, a 500-acre development largely dedicated to green space and trails, and is selling blocks of land to Lanoha for the new project. The Row will serve as a town center, encompassing residential, office, hospitality, retail and entertainment offerings. Upon completion, The Row will represent a $500 million investment. CBRE has been retained for brokerage and management services. Lanoha expects construction of the first eight-acre phase to begin next year, according to the Omaha World-Herald.
CHICAGO — Sterling Bay has unveiled plans to develop a 320,000-square-foot life sciences building within its Lincoln Yards mixed-use project in Chicago. Designed by Gensler, the facility will be situated along the North Branch of the Chicago River. The plans come on the heels of successful leasing activity at 2430 N. Halsted St., a redevelopment project that Sterling Bay undertook to create state-of-the-art lab space. The building is now more than 50 percent leased to Evozyne, Exicure Inc. and Vanqua Bio. Evozyne, a Chicago-based molecular engineering technology company, recently signed a 30,000-square-foot lease at the property. Evozyne’s space is scheduled for completion in early 2021. David Saad of CBRE represented Sterling Bay in the lease transaction with Evozyne.
CHICAGO — Skender has completed interior construction of the 75,000-square-foot Chicago office of Equity Residential (NYSE: EQR), an owner, developer and manager of apartments. Equity occupies two floors at Two North Riverside and has private access to the building’s roof terrace, which Skender built out as part of the project. The renovated office space features a new atrium with connecting staircase; a mix of open workstations and private offices, conference rooms and board rooms; and new bathrooms. Skender collaborated with architect Partners by Design, owner’s representative JLL and engineering consultant ESD.
EDINA, MINN. — Nerdery has signed a 65,000-square-foot office lease at 7700 France Ave. in Edina, just south of Minneapolis. Nerdery is a digital business consulting firm focused on product and service development. Jim Damiani, Ryan Bohrer, Andrew Commers and Maura Carland of Newmark Knight Frank (NKF) represented the tenant in the lease transaction. Bloomington, Minn.-based Frauenshuh owns the property. Nerdery is slated to relocate from Bloomington to its built-out space in Edina in September. Minneapolis-based Studio KKChong designed the new office, which features an internal staircase, reception area with coffee bar and a rooftop patio. Nerdery’s lease is the largest office lease year to date in the Minneapolis market, according to NKF.
SPRINGFIELD, ILL. — Cleeman Realty Group has arranged the sale of Kent Plaza in Springfield for an undisclosed price. County Market anchors the 94,260-square-foot retail center, which sits on 9.4 acres. The property was more than 90 percent occupied at the time of sale. Michael Cleeman and Sam Seelenfreund of Cleeman brokered the transaction. A Maryland-based private investment firm purchased the asset from the property’s original owner.
OMAHA, NEB. — Berkadia has arranged the sale of Steeplechase on Maple, a 314-unit multifamily property in Omaha. The sales price was undisclosed. Located at 14949 Manderson Plaza, the community features one-, two- and three-bedroom floor plans. Amenities include a fitness center, pool, outdoor area, sundeck, clubhouse and playground. Alex Blagojevich, Michael Sullivan, Ralph DePasquale and Parker Stewart of Berkadia represented the seller, Illinois-based Redwood Capital Group. Colorado-based Centennial Capital Partners purchased the asset.
CHANNAHON, ILL. — Camso USA Inc., a subsidiary of Michelin, has signed a 252,208-square-foot industrial lease at 24601 S. Bradley St. in Channahon. The company is relocating from a warehouse in nearby Joliet and expects to move into the new facility in September following the completion of tenant improvements. Camso is one of North America’s largest manufacturers and distributors of rubber tires and tracks for off-road vehicles and construction equipment. David Liebman of Merit Partners Inc. represented the tenant in the lease transaction. Sean Henrick and Jason West of Cushman & Wakefield represented the landlord, Crow Holdings Industrial.
EARTH CITY, MO. — The Opus Group has broken ground on a 13.5-acre industrial development in Earth City, about 20 miles northwest of St. Louis. Johnstone Supply, a wholesale distributor of HVAC equipment, will occupy four acres with a new 45,000-square-foot headquarters and distribution center. Opus will also construct an 111,000-square-foot speculative industrial building on the remaining 9.5 acres. Johnstone’s space will include a training room and product showroom. The spec building will feature 139 car parking stalls, 27 dock positions and a clear height of 32 feet. Construction on both buildings is slated to begin this month with completion scheduled for spring 2021. Opus is the developer, design-builder, architect and engineer. Jake Corrigan and Vince Bajardi of Sansone Group will market the project for lease.