NAPERVILLE, ILL. — Inland Private Capital Corp., through its subsidiary that serves as asset manager, has facilitated the sale of Freedom Commons, located at 1703-1847 Freedom Drive in Naperville, for an undisclosed sum. The 81,760-square-foot retail center is occupied by a variety of tenants, including AthletiCo Physical Therapy, Maggiano’s Little Italy, Morton’s the Steakhouse and Old Town Pour House. The name of the buyer was not released.
LEXINGTON, OHIO — Marcus & Millichap has arranged the sale of Turn Key Storage, a self-storage facility located at 1435 Orchard Park Road in Lexington. An individual/personal trust sold the property to a limited liability company for $1.8 million. Brett Hatcher and Joseph Holloway of Marcus & Millichap represented the seller and the buyer in the transaction. Situated on 5.7 acres, the 48,900-square-foot property features 352 units with 54 expansion-ready units. Facility amenities include steel roll-up doors, paved drives throughout, 24-hour video surveillance and digital gate access.
LIMA, OHIO — Reichle Klein Group has arranged the lease of a former Walmart retail building located at 975 N. Cable Road in Lima. Big R Stores signed a 10-year lease for the 110,580-square-foot property. The site will be the store’s first location in Ohio. Big R sells a variety of goods, including apparel, sporting goods, home basics, toys, and pet, livestock, auto and lawn and garden products. Duke Wheeler of Reichle Klein Group represented the lessee in the deal. The landlord was not disclosed.
GAINESVILLE, VA. — Calkain Cos. has brokered the $16.5 million sale of a triple-net leased gym in Gainesville, about 35 miles west of Washington, D.C. The asset is leased to Sport&Health, a fitness chain that operates 22 locations in the metro Washington, D.C. area. Jeff Bogart of Calkain represented the seller in the transaction. Hasan Ibrahim of HMI Properties LLC represented the private buyer.
CHICAGO — Summit Design + Build, serving as general contractor, has broken ground on XS Tennis and Education Foundation’s XS Tennis Village, a state-of-the-art athletic and academic facility in Chicago’s Washington Park neighborhood. Situated on 14 acres at 510 S. State St., the 316,650-square-foot project will feature 110,000 square feet of indoor space, including 12 full-size tennis courts, four mini tennis courts, locker rooms, offices, players’ lounge and an 8,100-square-foot fitness center with a basketball court and sprinting lane. The complex’s 206,650 square feet of outdoor space will feature 15 full-size tennis courts (four clay and 11 hard surface), three stadium courts, two basketball courts and a 150-meter running track. Williams Architects is providing architectural services for the project.
WEST DUNDEE, ILL. — Realty Metrix Commercial has arranged the sale of 1 Great Care Wash, located at 555 Willow Lane in West Dundee. LMK LLC sold the asset to Abraham Property Management LLC for an undisclosed price. The 4,167-square-foot, six-bay touchless car wash features two automatic and four service bays. The buyer plans to self manage the family-owned business. Dave Schmidt and Linda Kost of Realty Metrix Commercial represented the seller and buyer in the deal. Wells Fargo Bank provided financing for the acquisition.
NEW YORK CITY — Madison Realty Capital has provided a $52 million first mortgage loan for the acquisition of a development site in the East Village and the construction of an approved mixed-use development on the site. Located at 644 E. 14th St., the 76,259-square-foot development will feature 50 residential units, 8,064 square feet of retail space with 200 feet of frontage on 14th Street and Avenue C, and 21,575 square feet of community facility space. The loan proceeds helped the undisclosed borrower close on the site acquisition and will fund further predevelopment activities and construction of the building. The residential units will feature contemporary finishes and large balconies with views of the East River. Additionally, the borrower is finalizing a lease with a major New York hospital to occupy the entire community facility portion of the new building.
MARLTON, N.J. — RD Management LLC is developing Sunbird Plaza, a shopping center located at the intersection of Route 73 and Sunbird Drive in Marlton. The shopping center will feature 26,016 square feet of retail space. Additionally, RD Management has signed its first tenant to the to-be-built property. Royal Farms will occupy 5,166 square feet of space at the center, which is slated to open in spring 2017. The Maryland-based chain offers gasoline and diesel fuel, breakfast, lunch, dinner and snacks for customers’ sit-down or take-out convenience. The chain currently operates 167 stores and is expanding to the South Jersey market. The property also offers 19,200- and 1,650-square-foot retail spaces and a potential pad site is available for lease.
HIGH POINT, N.C. — BC Wood Properties, owner of Southwood Square Shopping Center in High Point, plans to remerchandise the center’s former Kmart store with retailers including Planet Fitness, Roses and dd’s Discounts. The new tenants will open their stores by spring 2017. BC Wood purchased Southwood Square in 2013 with the intent to renovate the center when Kmart vacated its 104,000-square-foot space. Southwood Square is located on the corner of South Main Street and West Fairfield Road and is leased to tenants including Dollar Tree, Save-A-Lot, Jackson Hewitt, Nationwide Insurance and Shoe Show.
LOUISVILLE, KY. — NorthMarq Capital has arranged a $2.8 million loan for Richlawn Centre, a 16,680-square-foot retail property located at 4133-4149 Shelbyville Road in Louisville. Randall Waddell of NorthMarq’s Louisville office arranged the seven-year loan with one year of interest-only payments through an undisclosed regional bank.