CHICAGO — Sperry Van Ness Chicago Commercial has completed the $3.5 million off-market sale of a 16-unit multifamily building located at 3505-07 N. Pine Grove in the Lakeview neighborhood of Chicago. Dawn Overstreet and Reid Bennett of Sperry Van Ness LLC represented the buyer as well as the seller, the landlord of nearly 50 years, in the transaction. The 18,150-square-foot apartment complex is located less than one block from Lake Michigan.
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GROVEPORT, OHIO — Seattle-based SK Food Group has signed a lease for the remaining 180,000 square feet of space at Opus Business Center, located at Rickenbacker 7 in Groveport, a southern suburb of Columbus, Ohio. Planned improvements to the facility include building out 16,000 square feet of office space, as well as adding multiple freezers, coolers and ancillary space to support the assembly area. The modifications to the space will allow 250 employees to work in the facility during each shift. Building features include a clear ceiling height of 36 feet and an ESFR sprinkler system. Jeff Lyons of CBRE represented SK Food Group, and Michael Linder from Colliers International was the listing broker. Founders Properties LLC owns Opus Business Center at Rickenbacker 7. Opus Development Co. LLC assisted with the lease agreement. Opus Design Build is the general contractor and Opus AE Group LLC provided design services for the facility improvements. Construction is slated for a June completion.
DEERFIELD, ILL. — The Boulder Group has completed the $7.3 million sale of a single-tenant, net-leased Northwestern Memorial Hospital property located at 350 South Waukegan Road in Deerfield, a northern suburb of Chicago. Northwestern Memorial Hospital is the sole occupant of the 16,737-square-foot medical office building, which was developed in 2013. The hospital has 14 years remaining on its lease with 2.5 percent annual rental escalations. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago-based real estate firm, in the transaction. The buyer was a high net-worth individual located in California.
MINNEAPOLIS — Ackerberg has entered into an agreement to purchase Calhoun Square, a 170,521-square-foot shopping center located at 3001 Hennepin Ave. in Minneapolis. The center was built in 1984 and renovated in 2008. Major tenants include LA Fitness, Kitchen Window, H & M, Famous Dave’s, BayStreet Shoes, Timberland and CB2. Ackerberg plans to overhaul the interiors of Calhoun Square and has engaged the services of David Shea of Shea Architects. The expected closing date is early April.
NEW YORK CITY — Meridian Capital Group LLC has arranged $16 million in permanent financing for an office and retail property located on West 30th Street in New York City. A local savings bank provided the 12-year loan, which features a fixed interest rate of 3.88 percent. Josh Rhine of Meridian Capital Group arranged the loan. The 17-story property, located at 259 West 30th St., includes 90,000 square feet of office space and 10,000 square feet of ground-floor retail space.
PROVIDENCE, R.I. — Washington Trust’s commercial real estate group has provided $8.8 million in financing to University Medical Center LLC and Collyer Rehabilitation Center for the refinancing of two medical buildings. The properties are located at 195 and 208 Collyer St. in Providence. Both locations are in close proximity to Miriam Hospital and Interstate 95.
DANVERS, MASS. — CBRE/New England has arranged the $4.3 million sale of 18 Electronics Avenue in Danvers, a northern suburb of Boston. The 128,000-square-foot, former High Liner Foods facility was sold to 18 Electronics Ave LLC. The building is a frozen food plant that includes four spiral freezers, wash-down production rooms, refrigerated storage, waste pre-treatment and emission scrubbing. Mark Reardon and Jake Borden of CBRE represented the seller and procured the buyer.
WEST MILFORD, N.J. — Marcus & Millichap has arranged the $4 million sale of Bearfort Shopping Village, a 34,438-square-foot retail shopping village located in West Milford. Michael Lombardi in Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor.
SOUTH PLAINFIELD, N.J. — Cushman & Wakefield has arranged a 17,000-square-foot headquarters lease for Petra Systems at 1 Cragwood Road in South Plainfield. The global provider of distributed-power electronic technologies is relocating to the Class A office property this winter from a nearby flex property. Slava Vaynberg, Marc Trevisan and David Sherman of Cushman & Wakefield arranged the lease on behalf of Petra Systems. Tanzanite Realty LLC owns the 160,000-square-foot 1 Cragwood Road building and was represented by Adam Englander from CBRE.
HOUSTON — Marcus & Millichap has brokered the sale of Mediterra at Westchase Apartments, a 312-unit multifamily property in Houston’s Westchase submarket. Located at 3131 Hayes Place, the complex is in proximity to the Sam Houston Tollway, U.S. Highway 6, Loop 610 and I-10, among other major thoroughfares. Constructed in 1980, the garden-style community offers efficiency and one- to three-bedroom residences averaging 803 square feet, as well as shared amenities such as a swimming pool, fitness center, business center and two laundry facilities. Jeffrey Fript and Kyle Bruchmiller of Marcus & Millichap represented the seller, a Texas-based investment firm, in the transaction. Fript also advised the buyer, an institutional investor from California.