Retail

ST. PETERS AND ARNOLD, MO. — Northern Tool + Equipment has signed two, 10-year retail leases in metro St. Louis. One lease was for a 15,061-square-foot building in the Cave Springs Shopping Center, located at 4055 Veterans Memorial Parkway in St. Peters about 30 miles west of St. Louis. Mike Swearngin of Pace Properties represented the landlord in the St. Peters transaction. The second lease was for a 15,631-square-foot building, located at 233 Arnold Crossroads Center in Arnold about 18 miles south of St. Louis. Tom Egan of Wm. Boudoures Co. represented the landlord in the Arnold transaction. Burnsville, Minn.-based Northern Tool + Equipment has more than 70 locations in 14 states and sells a wide variety of products, ranging from consumer goods to industrial and construction equipment. Venture Commercial represented Northern Tool in both transactions.

SCHAUMBURG, ILL. — Inland Private Capital Corp. (IPCC) has sold a 100,773-square-foot retail property, located at 905-915 E. Golf Road in Schaumburg, for $12.4 million. The property is anchored by Bed, Bath & Beyond and Golfsmith and is located near Woodfield Mall. Prior to completion of the sale, an affiliate of IPCC renegotiated and extended the leases of Bed, Bath & Beyond and Golfsmith through Jan. 31, 2023 and Sept. 20, 2017, respectively. Affiliates of Inland offered tenant-in-common interests in the property to a group of investors in a private offering in 2004 and continued managing the property on their behalf.