JOLIET, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a two-tenant retail building in Joliet for $2.7 million. Located at 2900 Colorado Ave., the property is fully leased to Dollar Tree and Osaka Hibachi Grill & Sushi. Chad Firsel of Quantum brokered the transaction. A New York City-based private real estate investor purchased the asset from a Chicago-based acquisition and development company.
OVERLAND PARK, KAN. — The Boulder Group has arranged the sale of a single-tenant property net leased to Skechers in Overland Park for $1.5 million. The 6,415-square-foot building is located next to a Walmart Supercenter. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate company. A West Coast-based real estate investment company purchased the asset.
KANSAS CITY, MO. — Tutera Senior Living & Health Care is nearing completion of the $55 million Tiffany Springs senior living community in Kansas City. Tutera expects the 172 independent living units to be available in June, followed by 89 memory care and assisted living units in July. Community amenities at the 289,000-square-foot property include a spa, pool, outdoor courtyard, yoga studio, art studio, theater room, chapel, dog wash, concierge services and multiple dining venues. The new community will be connected via a breezeway to a rehabilitation and healthcare center that will offer short-term rehabilitation services and extended stays. Nearing Staats Prelogar & Jones Architects, BHC Rhodes and Luke Draily Construction Co. make up the project team.
SHILOH, ILL. — Contegra Construction Co. has completed the first three apartment buildings at the $26 million development known as Thirteen01 at Hartman Lakes in Shiloh. To date, nearly 100 leases have been signed at the 216-unit, nine-building complex, according to developer Greenmount Retail Center LLC. Contegra has also completed the clubhouse and expects to finish the remaining apartments by this summer. Monthly rents start at $950 for one-bedroom units and $1,250 for two-bedroom units. St. Louis-based 2B Residential is leasing and managing the property.
DAYTON, OHIO — Marcus & Millichap has brokered the sale of the Holiday Inn Express & Suites Dayton-Huber Heights for $5.9 million. The 65-room hotel is located at 5610 Merily Way in Dayton. Andrew Bankhurst and Alexandre Duong of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, a limited liability company.
KENOSHA, WIS. — The Barry Company has arranged the sale of a lot that spans about three-quarters of an acre in Kenosha. The buyer, S&L Properties Kenosha 142 LLC, plans to construct a Culver’s restaurant on the site. The lot is located at the intersection of Highway 142 and I-94 and is adjacent to Amazon’s 1.5 million-square-foot distribution campus. Kevin Barry of Barry Co. represented the undisclosed seller. Tom Treder of Founders 3 Real Estate Services represented the buyer. Culver’s is known for its burgers and frozen custards.
OREGON, OHIO — Reichle Klein Group has negotiated the $1.4 million sale of a Dollar General-occupied property in Oregon, a suburb of Toledo. Completed in October 2018, the 9,100-square-foot building is located at 2450 Woodville Road. Christian Zaciewski of Reichle Klein represented the seller, Linden Avenue LLC. Net Realty Advisors represented the buyer, California-based Frank Living Trust.
MUSKEGON, MICH. — RD Management LLC has unveiled plans to redevelop Muskegon Shopping Center located at 3530 Henry St. in western Michigan. The project will include removal of the 134,874-square-foot building formerly occupied by Kmart, renovation of the 32,338 square feet of adjacent retail space and the construction of five residential buildings totaling 126 units. Demolition of the Kmart building will begin in late spring. In addition, Mercy Health has agreed to purchase a 6.2-acre parcel of the shopping center in order to construct a new 40,900-square-foot medical office building that will include urgent care, physical therapy, research laboratories, doctor’s offices and a pharmacy.
COLUMBUS, OHIO — Reich Brothers has acquired a 142,223-square-foot industrial facility in Columbus for an undisclosed price. The property previously served as the main production and warehousing location in the Columbus market for printing company Quad Graphics. The building is located at 4051 Fondorf Drive and is directly adjacent to Walmart’s distribution and logistics hub. The property features clear heights ranging from 21 to 24 feet and can be subdivided to accommodate multiple tenants. Reich Brothers intends to repurpose the facility for light manufacturing and distribution. Site work has commenced and is expected to be completed in the coming months.
FERGUS FALLS, MINN. — Marcus & Millichap has brokered the $7 million sale of Red River Village in Fergus Falls in western Minnesota. Built in 2011, the apartment property includes 66 units that are designated for residents age 55 and older. Floor plans range from one to three bedrooms. Chris Collins and Evan Miller of Marcus & Millichap brokered the transaction.
