Northbrook, Ill. — Envoy Net Lease Partners has provided a $4.1 million loan for the construction of a single-tenant property located in Ohio. Ralph Cram of Envoy arranged the financing on behalf of the borrower, Caliber Collision.
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Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
Chicago — Walmart has announced that it will close four stores in Chicago. The company cited a lack of profitability as the reason for the closures, reporting that the locations collectively lose tens of millions of dollars a year. Walmart recently invested $70 million to upgrade the stores and built two new Walmart Health facilities and a Walmart Academy training center. “It was hoped that these investments would help improve our stores’ performance,” said the company. “Unfortunately, these efforts have not materially improved the fundamental business challenges our stores are …
Bradley, Ill. — RCG Ventures has acquired Bradley Commons, a 175,369-square-foot retail center located in Bradley. Dick’s Sporting Goods, JOANN Fabric and Crafts, Petco, Shoe Carnival and Ulta Beauty anchor the property. Joe Girardi and Rick Drogosz of Mid-America represented the undisclosed seller. Jeff Miller of RCG represented the company on an in-house basis.
Corona Del Mar, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sales of three single-tenant properties totaling $22.6 million. Each of the properties is leased to Walgreens. Kevin Fryman and Ed Hanley of Hanley, in association with ParaSell Inc., arranged the sale of the first property, located in Minneapolis, on behalf of the seller, a California-based private investor. A New York-based private investor purchased the 14,535-square-foot building for $6.6 million. Located in Sugar Grove, Illinois, the second property comprises 14,739 square feet. Bill Asher, Jeff Lefko and …
Grayslake, Ill. — Hanley Investment Group Real Estate Advisors has brokered the $3.7 million sale of a single-tenant retail property located in Grayslake, roughly 50 miles northwest of Chicago. Kiddie Academy occupies the newly constructed, 9,492-square-foot building on a net-lease basis. Jeff Lefko and Bill Asher of Hanley represented the developer and seller, The Woodmont Co., in association with ParaSell Inc. Gordon Nielsen of Summit Commercial Real Estate represented the buyer, a Virginia-based private investor.
Brookfield, Wis. — Colliers has arranged the $9.2 million sale of the Shoppes at Brookfield Commons in the Milwaukee suburb of Brookfield. The 42,356-square-foot shopping center was 60 percent occupied at the time of sale by tenants including Chipotle Mexican Grill, H&R Block and LasikPlus. Adam Connor led a Colliers team that represented the seller and procured the buyer, a private Illinois-based real estate company.
Chicago — Mid-America Real Estate Corp. has brokered the sale of 1003 N. Rush St., a luxury retail building in Chicago. The property spans 5,443 square feet and was occupied by fashion retailer Vuori at the time of sale. Joe Girardi and Emily Gadomski of Mid-America represented the seller, an institutional investor. A private family was the buyer.
Chicago — L3 Capital has added two new tenants to its mixed-use development in the Fulton Market neighborhood of Chicago. Ever/Body and Brilliant Earth will join the retail lineup, marking six tenant openings since September of last year. L3 completed construction on the 35,000-square-foot project, a redevelopment of a former bank and parking lot which is now fully leased, in January 2022. Other tenants include Mejuri, Brooklinen, Puttery and Lululemon.
Chicago — Ashkenazy Acquisition Corp. (AAC) has purchased Gateway Centre, a 200,000-square-foot shopping center in Chicago. Tenants at the property, which was 93 percent leased at the time of sale, include Jewel-Osco, Marshalls and LA Fitness. George Good of CBRE represented the seller, Stockbridge, in the transaction. AAC was represented in-house.