LOCKPORT, ILL. — Marcus & Millichap has brokered the sale of a new-construction, 7,749-square-foot retail property in Lockport for $4.2 million. Located on West 159th Street, the property is home to Aspen Dental and Panera Bread. Aspen Dental has a new 10-year lease while Panera Bread has a new 15-year lease. Austin Weisenbeck, Barry Wolfe, Glen Kunofsky and Sean Sharko of Marcus & Millichap marketed the property on behalf of the undisclosed seller. An out-of-state buyer completed a 1031 tax-deferred exchange.
EDEN PRAIRIE, MINN. — Brick & Bourbon, a craft bar and eatery, has signed a lease to occupy space within Elevate at Southwest Station Apartments in Eden Prairie. The apartment project is expected to open in late August, with Brick & Bourbon opening by the end of the year. This will be the fourth location for Brick & Bourbon. Unique offerings include the candied bacon flight, chocolate cigars and Reuben soup in a crock, along with more traditional fare such as sandwiches, ribs and wings. The space will include an outdoor patio. The $63.7 million Elevate includes 13,000 square feet of retail space. Kaas Wilson Architects designed the 222-unit project. Frana Cos. is the general contractor.
ELK GROVE VILLAGE AND FRANKLIN PARK, ILL. — Stream Realty Partners has been retained to manage two new Class A industrial properties in suburban Chicago from Principal Real Estate Investors on behalf of an institutional client. The first is a 133,000-square-foot building in Elk Grove Village. Completed in December, the facility is situated on 6.5 acres. Seko Worldwide and Gran Quartz occupy the property, which features 20 exterior docks and a clear height of 32 feet. The second is a 400,370-square-foot building in Franklin Park. Completed in May, the facility is currently available for lease. Situated on 20 acres, it offers 79 exterior docks and a clear height of 36 feet.
BURNSVILLE, MINN. — KW Commercial has arranged the sale of the Nicollet Plaza Building in Burnsville for $2.6 million. The property, situated at 200 E. Travelers Trail, is a 20,653-square-foot, two-story office and retail building. Anchored by SharePoint Credit Union, the asset includes a mix of retail and office tenants. Matthew Klein, Andy Manthei and David Lund of KW Commercial represented the seller, Nicollet Plaza II LLC. The team also secured the buyer, Nicollet Office Partners LLC.
CLAYTON, MO. — KBS has sold Pierre Laclede Center I & II, a two-building, 580,368-square-foot office campus in Clayton, to Lingerfelt CommonWealth. The sales price was not disclosed. Pierre Laclede Center I & II were constructed in 1964 and 1970, respectively. KBS acquired the office campus in 2010 and implemented a $19 million renovation plan in the intervening years. Amenities include an outdoor veranda/patio area, conference rooms, fitness centers, café, deli, onsite concierge and car washing. The sale included a four-level, 1,304-stall parking garage. HFF marketed the property on behalf of KBS, a California-based private equity firm that owned the asset through its KBS Real Estate Investment Trust II portfolio. The buyer is a national real estate investment management firm based in Richmond, Virginia. Current tenants include Centene, Lathrop Gage, Morgan Stanley and Dana McKitrick P.C. Additionally, The St. Louis Club, a private dining club, occupies the top floor of the property with views of downtown and the Gateway Arch. Clayton is one of the St. Louis region’s most sought-after submarkets for office space and is considered the hub of the St. Louis metropolitan area. Clayton boasts over 1 million square feet of retail space as well, and the Pierre …
OAKBROOK TERRACE, ILL. — Kimco Realty Corp. has sold a 176,164-square-foot retail property in Oakbrook Terrace for $21 million. Known as 22nd Street Plaza, the shopping center is fully leased to retailers such as Home Depot, Party City and Big Lots. Restaurants Twin Peaks and Naf Naf Grill are located on the site as well. The property includes 850 parking spaces. George Good and Christian Williams of CBRE represented Kimco in the sale. A California-based private investor purchased the asset.
MADISON HEIGHTS, MICH. — SkyView Advisors has arranged the sale of a 650-unit self-storage facility in Madison Heights for an undisclosed price. The property, known as Michigan Storage Centers, is situated on 2.6 acres and spans 86,730 square feet. All of the units are climate-controlled. Cameron Vale and Ryan Clark of SkyView represented the undisclosed seller.
RIPON, WIS. — Colliers International has brokered the sale of a 163,000-square-foot industrial building in Ripon in central Wisconsin. The sales price was not disclosed. The property is situated on 13 acres at 100 Creative Way and is served by the Wisconsin Southern Railroad. The buyer, Rogers & Rogers Inc., intends to occupy about one-half of the building and lease the other half to other companies within Ripon.
OVERLAND PARK, KAN. — Tutera Senior Living & Health Care is underway on a $1.5 million renovation of its senior living community in Overland Park known as The Atriums. This month, Tutera expects to complete Phase I of the project, which includes renovation of the first-floor common living areas. Tutera will also begin Phase II, an expected $1 million remodel of the property’s 203 units. Amenities within the 50,000-square-foot common living area include a dining area, pub, billiards room, reading corner and community lounges. The property features 168 independent living units and 35 assisted living units. The residences will be updated with new lighting, flooring, paint and other upscale finishes. Phase II is slated for completion in the next 12 to 18 months.
LEE’S SUMMIT, MO. AND SHAWNEE, KAN. — Hotworx, a high intensity isometric fitness concept, has signed two long-term leases in Lee’s Summit, Mo., and Shawnee, Kan. The Lee’s Summit location will be located at 1309 NE Douglas St. and span 1,900 square feet. The studio is slated to open this summer. In Shawnee, Hotworx will occupy a 2,000-square-foot space in a Bank of America-anchored strip center. The location is also expected to open this summer. Bill Maas and Daniel Brocato of Block & Co. Inc. Realtors represented Hotworx in the lease transactions. The brokers are currently working with Hotworx to open a location in Liberty, Mo., later this year. The fitness company currently operates a studio in Lawrence, Kan.