Midwest

Amazon to Open Two 700,000 SF Fulfillment Centers in Ohio

by Taylor Williams July 22, 2019

AKRON AND ROSSFORD, OHIO — Amazon (NASDAQ: AMZN) will open two fulfillment centers in Ohio in a move that will bring more than 2,500 new jobs to the northern part of the state. The properties, each of which will span more than 700,000 square feet, will be located in Akron and Rossford, the latter being a suburb of Toledo. The developments will be the e-commerce giant’s seventh and eighth industrial assets in Ohio, and will be used to sort, pack and ship various items to customers in the region. According to the Akron Beacon Journal, the Akron facility will be developed at the site of the former Rolling Acres mall, which was recently foreclosed upon and demolished. Construction is scheduled to begin in September, the paper reports. Amazon did not disclose additional timelines for the openings of the centers. “Ohio has been a great place to do business, serve customers and create jobs,” says Alicia Boler Davis, Amazon’s vice president of global customer fulfillment. “We’re excited to grow our team in the Buckeye state, which now includes more than 8,500 Amazonians.” “Amazon continues to demonstrate confidence in the great workforce and e-commerce business climate we have in Ohio,” adds Ohio …

July 22, 2019

Development Industrial Midwest Self-Storage Wisconsin

I|C Construction to Break Ground on 800-Unit Self-Storage Facility in Wisconsin

by Kristin Harlow July 19, 2019

PLEASANT PRAIRIE, WIS. — I|C Construction is set to break ground on an 800-unit, 127,156-square-foot self-storage facility in Pleasant Prairie. Bruno and Lori Hanney purchased the 5.4-acre site at 9001 Wilmot Road for the development of the project. Upon completion, Extra Space Storage Inc. will manage the property. The facility will offer drive-in access, climate-controlled units, surveillance cameras, access codes and LED lighting. In.studio Architecture designed the project, which is slated for completion in January 2020.

July 19, 2019

Acquisitions Midwest Minnesota Office

NKF Brokers $12.8M Sale of Office Building in Edina, Minnesota

by Kristin Harlow July 19, 2019

EDINA, MINN. — Newmark Knight Frank (NKF) has brokered the $12.8 million sale of Edina Business Plaza, an 84,380-square-foot office building in Edina. The three-story property is located at 7550 France Ave. South and was built in 1981. It is approximately 97 percent occupied. The anchor tenant is Coldwell Banker Burnet. Peter Tanis and John McCarthy of NKF represented the sellers, Edina Business Plaza LLC and SH Commercial Real Estate Services. Minneapolis-based Ackerberg Group purchased the asset.

July 19, 2019

Development Illinois Industrial Midwest

CHI Purchases 42-Acre Site in Elgin, Plans 638,000 SF Spec Industrial Development

by Kristin Harlow July 19, 2019

ELGIN, ILL. — Crow Holdings Industrial (CHI), in partnership with the California State Teachers’ Retirement System (CalSTRS), has purchased a 42-acre site at 2600 Mason Road in Elgin. The developer plans to break ground this month on Park 90 Elgin, a three-building speculative industrial development spanning 638,000 square feet. Building A will span 155,000 square feet, Building B will total 106,000 square feet and Building C will measure 377,000 square feet. Buildings A and B will include a clear height of 32 feet, while Building C will feature a clear height of 36 feet. Brian Kling and Reed Adler of Colliers International represented CHI in the land sale. The duo has also been retained to complete the lease-up of Park 90 Elgin.

July 19, 2019

Acquisitions Midwest Ohio Retail

Marcus & Millichap Arranges $2M Sale of Property Net Leased to Rite Aid in Marion, Ohio

by Kristin Harlow July 19, 2019

MARION, OHIO — Marcus & Millichap has arranged the $2 million sale of a 10,617-square-foot property net leased to Rite Aid in Marion, approximately 50 miles north of Columbus. The building is located at 1081 Mount Vernon Ave. Rite Aid has operated at the location for more than 21 years. Dan Yozwiak, Joe Sparano and Nathan Coe of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The buyer was not disclosed.

July 19, 2019

Loans Midwest Minnesota Multifamily Seniors Housing

Dougherty Mortgage Provides $1.8M Refinancing for Senior Apartments in Duluth, Minnesota

by Kristin Harlow July 19, 2019

DULUTH, MINN. — Dougherty Mortgage LLC has provided a $1.8 million HUD-insured loan for the refinancing of Lakeland Shores Apartments in Duluth, which is located along Lake Superior. The 46-unit community is restricted to disabled persons and residents age 62 and above. The property was originally constructed in 1987 and expanded in 2004. Units will be renovated as part of the refinancing, which features a 35-year term. St. Francis of Assisi Inc. was the borrower. Ecumen manages the property.

July 19, 2019

Leasing Activity Midwest Minnesota Office

RSM to Expand, Renovate Its Office Space in Downtown Minneapolis

by Kristin Harlow July 18, 2019

MINNEAPOLIS — RSM, a provider of audit, tax and consulting services, has unveiled plans to expand and renovate its office space at RSM Plaza in downtown Minneapolis. RSM currently occupies 115,000 square feet across five floors and will increase its footprint to just over 125,000 square feet. The firm will fully renovate its space, with completion of the upgrades slated for late 2020. RSM’s new lease coincides with the recent completion of a $10 million renovation to RSM Plaza, which is located on the corner of 8th Street and Nicollet Mall. The building now offers enhanced skyway connections, a new lobby, common areas, fitness facility and conference center. Upscale steakhouse 801 Chophouse will open in the retail space adjacent to the lobby later this year. A joint venture between Golub & Co. and Oaktree Capital owns RSM Plaza.

July 18, 2019

Development Indiana Industrial Midwest

Core5 Begins Development of 1 MSF Spec Industrial Building Near Indianapolis

by Kristin Harlow July 18, 2019

MONROVIA, IND. — Core5 Industrial Partners has begun development of a 1 million-square-foot industrial building within the Hendricks Gateway Park in Monrovia, about 25 miles southwest of Indianapolis. The building will be the first speculative industrial building in the market with a clear height of 40 feet. It is slated for completion in the second quarter of 2020. The development will offer parking for 663 cars and 251 trailers. Andrew Morris and Jeremy Woods of CBRE represented Core5 in the purchase of 76 acres of land for the project. The duo will also represent Core5’s leasing efforts for the new property. The project team includes GDI Construction, MacGregor Associates Architects and Structurepoint. Hendricks Gateway Park is currently home to DHL, Chewy.com, Johnson & Johnson and Geodis.

July 18, 2019

Development Healthcare Midwest Minnesota

Kraus-Anderson Completes $52M Expansion of Hospital in Mora, Minnesota

by Kristin Harlow July 18, 2019

MORA, MINN. — Kraus-Anderson Construction Co. has completed a $52 million expansion of FirstLight Health System in Mora, about 75 miles north of Minneapolis. Designed by DSGW Architects, the renovation includes a new main entry and common area, eye clinic, lab, chemotherapy and radiology spaces, IT facilities, administration offices and gift shop. A two-story addition features a new rehabilitation area with a therapy pool, food-service kitchen, cafeteria and inpatient pharmacy. It also includes new units for births, medical surgeries and ICU. Another two-story addition features a new emergency department, community pharmacy, ambulance garage and fitness center. A separate one-story addition comprises clinical exam rooms. Exterior upgrades include new parking areas, relocation of the helipad and improved access from the highway. All hospital services were in full operation during the entire duration of the multi-phased, 25-month project. The original hospital was built in 1943, with additions completed in 1960, 1970, 1995, 2002 and 2007.

July 18, 2019

Illinois Industrial Leasing Activity Midwest

NorthShore Care Signs 161,585 SF Industrial Lease in Green Oaks, Illinois

by Kristin Harlow July 18, 2019

GREEN OAKS, ILL. — NorthShore Care has signed a 161,585-square-foot, full-building industrial lease in Green Oaks, about 35 northwest of Chicago. The property, located at the intersection of Rockland Road and I-94, is currently under construction and slated for completion in January 2020. Situated on 7.6 acres, the building will include a clear height of 32 feet, 33 exterior docks, two drive-in doors and parking for up to 188 cars. NorthShore Care, a provider of incontinence products, will move from its existing facility at 1200 Barclay Blvd. in Buffalo Grove upon completion of the new facility. Christopher Volkert of Colliers represented the landlord and developer, Panattoni, in the lease transaction. Whit Heitman of CBRE represented the tenant.

July 18, 2019

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