NILES, ILL. — Cohen Financial has secured a $5.8 million loan to refinance a 227,000-square-foot industrial facility in Niles. The property consists of nine units and is fully leased. The property, built in 1968, includes 19-foot clear ceiling heights and sits on nine-acres of land. Don Trossman of Cohen Financial’s Chicago office arranged the 10-year loan which features a 63 percent loan-to-value provided by a CMBS lender and a 20-year amortization schedule. The borrower is JEA Howard–Caldwell LLC, a wholly owned subsidiary of a major Chicago-based industrial property owner.
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KANSAS CITY — NorthMarq Capital has secured $4.5 million in acquisition/rehab financing for University Villa Apartments, a 108-unit multifamily property in Kansas City. The property is located at 3044 Francis St. Brent Blake of NorthMarq Capital’s Kansas City-based regional office structured financing on a “callable” 25-year term with a 25-year amortization schedule. In other words, the lender has the right to call the loan, or demand repayment of the loan, anytime after the call date. In this case, the call could occur anytime after the third anniversary of the loan. NorthMarq arranged financing for the borrower through its correspondent relationship with a life company.
ROSEMONT, ILL. — Transwestern has arranged the office lease renewal/expansion for Wynnchurch Capital, a leading private equity firm. Wynnchurch renewed its existing 8,060-square-foot lease and expanded into an additional 5,530 square feet. The company’s 13,590-square-foot headquarters is at One O’Hare Centre, located at 6250 N. River Road. The property is LEED Gold-certified. Tony Karmin of Transwestern’s tenant advisory group represented Wynnchurch in the 11-year lease. Francis Prock and Jonathon Connor of Colliers International represented the building owner, CBRE Global Investors.
MONROE, MICH. — Reichle Klein Group has brokered the $1.3 million sale of an 18,568-square-foot property in Monroe to an undisclosed buyer. The former Lincoln Mercury auto dealership is situated on a nearly five-acre site located at 15354 S. Dixie Highway. Duke Wheeler and Kurt Pollex of Reichle Klein Group represented the seller, Sarah Property LLC of Redford, Mich.
WAUWATOSA, WIS. — Colliers International has arranged the lease of a 13,440-square-foot retail building in Wauwatosa, a suburb of Milwaukee. La Z Boy will occupy space located at 10830 W. Burleigh St. The location will serve as a retail store for the furniture company. Brent Beshears of Colliers International represented the tenant La Z Boy Inc. in the transaction.
DENVER – The 49-unit Athenia Apartments in Denver has sold to a private local investment group for $7.8 million. The community is located at 1412 Steele Street. It is situated near City Park, Congress Park and Chessman Park. The buyer plans to carry out a major improvement project at the property. This will include improvements to all common areas and complete rehabs of the unit interiors. The investment group was represented by Adam Riddle and Kevin Higgins of Unique Properties’ Unique Apartment Group. The seller was not named.
LOS ANGELES – A 55,381-square-foot, mixed-use redevelopment property in East Los Angeles has sold to Primestor for $5.5 million. The three-building property is located at 4571-4591 Whittier Blvd., 760 S. McBride Ave. and 755 S. McDonnell. Primestor represented itself in this transaction, while the sellers, JB Realty LLC and Barsky, Barsky, & Rickey LLC, were represented by Scott Burns, Jason Gribin, Shauna Mattis and Geoff Tranchina of Wilson Commercial Real Estate.
SAN DIEGO – A 26,000-square-foot office building in the San Diego submarket of Governor Park has sold to Locale Advisors Inc. for $3.9 million. The vacant building is located at 5015 Shoreham Place. The buyer plans to transform the space into a creative office building. Patrick Rohan of Cushman & Wakefield represented both the buyer and the seller, Cliffwood California LLC, in this transaction. Wells Fargo provided financing for the acquisition and subsequent project redevelopment.
ESCONDIDO, CALIF. – A 4,000-square-foot retail building in Escondido that is currently occupied by 7-Eleven has sold to Marc Fanticola for $2.1 million. The building is located at 620 N. Ash Street. Fanticola was represented by Shaun Riley of Faris Lee Investments. The seller, 620 Ash Street LLC c/o Torrey Realty Holdings Inc., was represented by Chuck Klein, Kevin Held and Andrew Peterson of Cassidy Turley.
PARK CITY, UTAH – An 8,775-square-foot retail condo at the Park City Mountain Resort has received a $2-million refinance. The condo is situated at the base of the resort, which is located at 1345 Lowell Ave. in Park City. The condo features commercial units on its ground floor and seasonal residential units on its upper level. It is occupied by four long-term tenants. The loan features a 10-year fixed term, 25-year amortization schedule and 4.85 percent interest rate. It was arranged by Jeff Meierhofer of the Madison Group.