YOUNGSTOWN, OHIO — Washington Prime Group Inc. has unveiled plans to develop a four-acre athletic and entertainment venue to be named DeBartolo Commons at Southern Park Mall in Youngstown. The venue will be situated at the site of a former Sears department store. Demolition of the store has commenced. Washington Prime also plans to develop an additional entertainment area adjacent to DeBartolo Commons. Plans call for a 37,000-square-foot indoor golf center and new food and beverage offerings. Southern Park Mall was originally built by Edward J. DeBartolo Corp. in 1970.
LAWRENCE, KAN. — NorthMarq has arranged the sale of a 170-unit multifamily portfolio in Lawrence for an undisclosed price. The rental properties include Camson Place, Camson Villas and Camson Townhomes. Jeff Lamott of NorthMarq represented the buyer, Orozco Capital Trust, which completed a 1031 tax-deferred exchange and sold a Topeka portfolio. Kyle Tucker and John Duvall of NorthMarq arranged an undisclosed amount of acquisition financing through Fannie Mae. Wilhm Real Estate represented the seller of the Camson portfolio.
CHICAGO — Marcus & Millichap has brokered the sale of a 21,916-square-foot retail center in Chicago for $3.4 million. The property, occupied by Dollar Tree and One Hope United, is located at 707 E. 47th St. It is shadow anchored by a $46 million mixed-use building that includes a Walmart Neighborhood Market. Adrian Mendoza, Austin Weisenbeck and Sean Sharko marketed the property on behalf of the seller, a fund manager. A California-based family trust purchased the asset.
CLAYTON, MO. — Anvil Analytics + Insights, a branding and digital marketing agency, has signed a multi-year lease to occupy 10,000 square feet at 7730 Carondelet in Clayton. The new space more than doubles the size of the agency’s previous location in Chesterfield. Anvil expects to occupy the new space beginning this month. Blaise Tomazic of JLL represented the tenant in the lease transaction. The landlord was not disclosed.
CINCINNATI — Kroger Co. is set to open a downtown Cincinnati store on Wednesday, Sept. 25. This is the first downtown store in a half-century for the Cincinnati-based grocer, according to the Cincinnati Business Courier. The new store is located at the corner of Court and Walnut streets, across from the company’s headquarters. The 45,000-square-foot, two-story store will include five restaurants within a food hall. It will be known as Kroger on the Rhine, replacing an existing Kroger store in the Over-the-Rhine district. Besides the Kroger store, the 18-story building comprises a 139-unit apartment complex known as 1010 on the Rhine.
OAK BROOK, ILL. — JLL has arranged $29.8 million in renovation financing for 2001 York Road, a 184,525-square-foot office property in Oak Brook. Christopher Carroll of JLL secured the three-year, floating-rate loan on behalf of the borrower, Pembroke IV LLC. The five-story building, located near I-88 and I-294, is fully leased. Comcast occupies the majority of the property, which was built in 1999. Specific renovation plans were not disclosed.
INDIANAPOLIS — Time Equities Inc. (TEI) has acquired Brookside Industrial Park in Indianapolis for $6.9 million. The Class B property spans 303,764 square feet and 10 buildings across 33.9 acres. The asset was 90 percent leased at the time of sale to tenants such as United Rentals, California Closets, Alloyd Supply Co. Inc., Purposeful Design, AH Furnico Inc., Health and Hospital Corp. of Marion County, Agile Engineering & Manufacturing and Siddique Enterprises. Julia Evinger and Damien Yoder of Marcus & Millichap brokered the transaction on behalf of the private seller. Brian Soto, Max Pastor and Raymond Cazis of TEI self-represented the comapny as acquisition and asset managers. TEI also acquired 1.9 acres of undeveloped land on the site, enabling the firm to further develop the complex.
INDIANAPOLIS — Mag Mile Capital has arranged a $5.4 million CMBS loan for the acquisition of an 83-room Courtyard by Marriott hotel in southeast Indianapolis. The property is located at 4650 Southport Crossing Drive near I-65. Rushi Shah and Prabhat Jayara of Mag Mile Capital arranged the fixed-rate loan on behalf of the borrower, Trivedi Hospitality. Rialto Mortgage Finance provided the 10-year, nonrecourse loan, which features a 30-year amortization schedule.
GRAND RAPIDS, MICH. — Engineering consulting firm Hubbell, Roth & Clark Inc. (HRC) is relocating from its 3,500-square-foot office in the American Seating building to a 7,000-square-foot office at 1925 Breton Road SE in Grand Rapids. The 44,000-square-foot Breton Road building, owned by an affiliate of Rockford Construction, was formerly medical office space. Rockford updated the formerly vacant building. HRC expects to move into its new space in mid-October. Colliers International | West Michigan handles leasing for the entire building.
EDEN PRAIRIE, MINN. — Timberland Partners has opened Elevate at Southwest Station Apartments in Eden Prairie. Elevate features 222 apartment units as well as 13,000 square feet of retail space. Brick & Bourbon craft bar and eatery is expected to open at the property by the end of the year. Amenities at Elevate include a rooftop courtyard, pool, community room, coworking space, dog run, pet spa, yoga studio and fitness center. Kaas Wilson Architects and general contractor Frana Cos. made up the project team for the $63.7 million development. Monthly rents start at $1,279 for studios.