sales_and_leases

Molto Properties Acquires Infill Site in Metro Chicago for Future Development of 136,650 SF Industrial Property

by Christina Cannon May 16, 2016

NILES, ILL. — Molto Properties has acquired an industrial property in Niles, approximately 15 miles northwest of Chicago, for an undisclosed price. The facility, located at 7720 Lehigh Ave., is situated on eight acres and was built in 1954. MFRI Inc. was the seller. Molto plans to redevelop the existing site into a 136,650-square-foot, Class A distribution center. The property will feature 32-foot clear heights, 150 car parking spaces and 20 dock doors. The redevelopment is slated for completion by the end of the year.

May 16, 2016

Illinois Industrial Midwest

Batory Foods to Buy 678,000 SF Build-to-Suit Industrial Building in Illinois

by Christina Cannon May 13, 2016

WILMINGTON, ILL. — Batory Foods will purchase a 678,000-square-foot industrial property at RidgePort Logistics Center in Wilmington, approximately 60 miles southwest of Chicago, for an undisclosed price. The building is a build-to-suit for Batory Foods and will be situated on 36 acres with the ability to expand an additional 22 acres. Construction on the distribution facility will begin this month, and Batory Foods is expected to begin occupying the space this October. The facility will feature an automatic gate system, an employee walking track and other outdoor amenities. Harris Architects Inc. is providing the architectural services, and Alston Construction is the general contractor. Ridge Development is the project developer. Newmark Grubb Knight Frank (NGKF) represented Batory Foods in the transaction.

May 13, 2016

Illinois Midwest Office

U.S. Cellular Signs 119,369 SF Lease for Additional Space at Chicago Office Complex

by Christina Cannon May 13, 2016

CHICAGO — U.S. Cellular Corp. has extended and expanded its headquarters lease at the U.S. Cellular Plaza and now occupies 331,797 square feet of space. U.S. Cellular Corp. is the building’s largest tenant. FCA Partners LLC owns the building, which is located at 8410-8420 Bryn Mawr Ave. Constructed in 1981, U.S. Cellular Plaza is a three-building, 637,484-square-foot Class A office complex. U.S. Cellular signed its original lease in 1988 for just under 10,000 square feet. U.S. Cellular continues to occupy the entire 212,428-square-foot 8410 building and will now be expanding into an additional 119,369 square feet in the 8420 building on a long-term basis. Francis Prock and Jason Simon of Colliers International represented the landlord in the transaction.

May 13, 2016

Illinois Midwest Office

Turtle Wax Leases 25,115 SF in Metro Chicago Office Building for World Headquarters

by Christina Cannon May 13, 2016

ADDISON, ILL. — Turtle Wax Inc. will relocate its world headquarters from Willowbrook, Ill. to a 25,115-square-foot space in Addison, approximately 23 miles west of Chicago. Turtle Wax, a manufacturer of car care products, will occupy space at Meadows Office Center II, a two-story, 101,000-square-foot office building. The lease brings the facility, located at 2250 Pinehurst Blvd., to 70 percent occupancy. The asset is owned by a joint venture comprised of ACG Equities, Toft Asset Management and an undisclosed private investment fund. Daniel Nack of Cushman & Wakefield represented Turtle Wax in the transaction. Mark Smith and Bill Saviski of CBRE represented the landlord.

May 13, 2016

Hospitality Maine Northeast

GL Rogers & Co. Acquires Hotels Totaling 158 Rooms in Maine for $16.9M

by Amy Works May 13, 2016

FREEPORT AND WATERVILLE, MAINE — GL Rogers & Co., through Pendleton Point LLC, has purchased the Hampton Inn Freeport and the Hampton Waterville, two hotels totaling 158 rooms in Freeport and Waterville. The Vickery Company sold the assets for $16.9 million. Located at 194 Lower Main St. in Freeport, Hampton Inn Freeport features 77 guest rooms, 312 square feet of function space, a business center, fitness room and indoor pool. Located at 425 Kennedy Memorial Drive in Waterville, Hampton Inn Waterville features 81 guest rooms, a fitness room, indoor pool and business center, as well as 1,850 square feet of function space. The buyer has retained Maine Course Hospitality Group to manage both hotel properties. Denny Meikleham and Alan Suzuki of HFF represented the seller in the transaction.

May 13, 2016

California Industrial Western

Noble House Home Furnishings Leases 741,458 SF Distribution Center in Ontario

by Nellie Day May 13, 2016

ONTARIO, CALIF. — Noble House Home Furnishings has leased Prologis Mission Distribution Center, a 741,458-square-foot industrial distribution center in Ontario. The Class A center is located at 3655 S. Philadelphia St. It was built in 2001 and acquired by Prologis in 2007. The center was completely vacant prior to this lease. Peter Castleton of Voit represented the national residential furniture manufacturer in the transaction.

May 13, 2016

Georgia Retail Southeast

Southeastern Brokers $49M Sale of Market Walk Shopping Center in Savannah

by John Nelson May 13, 2016

SAVANNAH, GA. — The Southeastern Investment Sales Team has brokered the $49 million sale of Market Walk, a 255,000-square-foot shopping center in Savannah. Built in 2015, the center was 94 percent leased at the time of sale to tenants including Kroger Marketplace, Dick’s Sporting Goods, Buffalo Wild Wing, Jason’s Deli, Chipotle Mexican Grill, Edwin Watts and West Marine. Ryan McArdle, Steve Collins and David Rivers of Southeastern represented the undisclosed seller in the transaction.

May 13, 2016

Arizona Industrial Western

Exeter Property Group Buys Phoenix Industrial Portfolio for $66M

by Nellie Day May 12, 2016

PHOENIX — Exeter Property Group has purchased a three-property industrial portfolio in metro Phoenix for $66 million. The portfolio contains a total of 937,655 square feet. The acquisition includes the 603,909-square-foot Riverside Business Center; the 250,157-square-foot Estrella Buckeye distribution center; and the 83,589-square-foot 2021 S. 51st Ave. truck terminal facility. The portfolio is leased to six tenants. JLL’s Bo Mills and Mark Detmer represented the seller, Duke Realty Corp., in this transaction.

May 12, 2016

California Retail Western

Donahue Schriber Acquires San Francisco Bay Area Shopping Center

by Nellie Day May 12, 2016

LOS GATOS, CALIF. — Donahue Schriber has acquired Los Gatos Village Square, a 46,235-square-foot grocery-anchored shopping center located in the San Francisco Bay area community of Los Gatos. Trader Joe’s anchors the fully occupied center. Nicholas Bicardo, Danny Reddin and Brandon Rogoff of HFF represented the undisclosed institutional seller in the transaction.

May 12, 2016

California Retail Western

Vestar Purchases Retail Center in Granite Bay for $28.1M

by Nellie Day May 12, 2016

GRANITE BAY, CALIF. — Vestar has acquired Sierra Oaks Plaza, a neighborhood shopping center located in Granite Bay in the Sacramento metropolitan area. The asset, which is situated at the intersection of Douglas and Sierra College boulevards, sold for $28.1 million. Walmart Neighborhood Market, Chick-Fil-A, Crunch Fitness, Tri Counties Bank and Habit Burger occupy the 105,555-square-foot property. Over the past 12 months, Vestar has acquired six retail centers valued at $700 million throughout the Western states.

May 12, 2016

Newer Posts

Older Posts