MANCHESTER, MO-Cole Real Estate Investments, based in Phoenix, recently purchased a major portion of the Manchester Highlands shopping center here. The company paid $48.5 million for its share of the 525,000-square-foot center from Pace Properties.

The Cole purchase includes 29 acres with a 204,000-square-foot Wal-Mart Supercenter and two retail strips of about 135,000 square feet, including a Best Buy, Bed Bath & Beyond and a PetSmart. The rest of the property includes a Costco, which owns its site.

Pace will continue to manage and lease the Cole property. Ben Wineman with Mid-America Real Estate Corp., who represented Pace, tells GlobeSt.com that it was time to sell the 98%-lased portion of the site. “This newly-completed development had reached its first phase,” Wineman says. “The Manchester Road corridor is one of the dominant trade areas in West County, right down the road from West County Center, that just continues to grow.”

BEDFORD PARK, IL-An affiliate of KTR Capital Partners, a real estate private equity fund manager and operating company specializing in the industrial property sector, has closed on the acquisition of 6006 W. 73rd St. for about $7.3 million. The 201,424-square-foot manufacturing facility is on a 13-acre site, just more than a mile southwest of Midway International Airport in the South Side submarket of Chicago. The facility is fully leased long term to Northstar Aerospace. This acquisition brings KTR’s total portfolio in the Chicago market to approximately 5.5 million square feet.

PLAINFIELD, IL-Logoplaste, a rigid plastic packaging manufacturer, has leased 75,000 square feet of industrial space at 14420 Van Dyke Rd. Cushman & Wakefield of Illinois Inc. represented both tenant and landlord in the eight-year term lease. Britt Casey and Josh Young of Cincinnati Commercial (a C&W Alliance Partner) represented the tenant. Chris Porter and Steve Chess of Townsend Commercial represented the landlord, E&E Co. The facility was built in 2004 by Clayco Construction for the building’s owner. The facility has a land site large enough to accommodate a 50,000-square-foot building addition. As part of this transaction, the facility will be divided to accommodate Logoplaste’s space needs. Another 75,000 square feet is available for lease. According to Casey, the Van Dyke Road facility will serve as a manufacturing plant for plastic bottle pre-forms to be used in Logoplaste’s blow molding operations.

ITASCA, IL-Jeff Janda, principal, and Mike Plumb, VP of Lee & Associates of Illinois LLC represented ETI in their lease of 30,150 square feet of industrial space at 1325 Ardmore Ave. Jeff Holmes with Regional Realty Co., Inc. represented building ownership in the transaction.

JOLIET, IL-Castle & Cooke Cold Storage, a third-party cold storage provider, has renewed its lease of a 266,680-square-foot warehouse here. Trevor Ragsdale, Kris Bjorson and Dan McGillicuddy with Jones Lang LaSalle completed the transaction for the tenant. Kirk Armour with CB Richard Ellis represented the building owner, TIAA-CREF. The building is at 1695 Crossroads Dr. within Joliet’s Rock Run Business Park at Houbolt Road and Interstate80. The 287-acre park contains 12 buildings with 3.5 million square feet of industrial space. Other tenants include Mack Trucks, PETCO, Tyco Healthcare and Unisource.

CHICAGO-Clark Street Capital’s Bank Asset Network is marketing the $27 million “Chicagoland SFR and Lots Loan Portfolio.” With a total unpaid principal balance of $26.8 million, the portfolio is comprised of loans originated by a Chicago-area financial institution. The loan relationships range in size from $89,065 to $2.9 million. Performance levels include performing, sub-performing, and non-performing, on sites that include industrial and residential property and land.

BANNOCKBURN, IL-Oakbrook Terrace-based Mid-America Asset Management Inc. recently transacted a lease with Rock River Salon and Spa for 5,860 square feet of space at Bannockburn Green, in this North Shore suburb of Chicago. The independently owned salon plans to open in February 2011. Kitsy Ritter and Liz Krebs represented the landlord in the lease, while Ralph Huszagh with JC Forney Realty Inc. represented the tenant. Bannockburn Green is a 158,001 square-foot shopping center. Anchors include Dominick’s, Walgreens, Panera Bread and Erehwon Mountain Outfitter. In addition to retail space, the center also features a 22,850-square-foot office complex.

NAPERVILLE, IL-The Chicago office of Holliday Fenoglio Fowler has closed the sale of the Atrium, an office building here. Jaime Fink, Jeffrey Bramson and director Kenneth Glomb led the investment sales team on behalf of the seller, a subsidiary of Prime Group Realty Trust. Farbman Acquisitions LLC purchased the property for $3.6 million free and clear of debt. The building is at 280 Shuman Blvd. close to Interstate 88. The two-story property has 69,077 square feet.

BURR RIDGE, IL-Morgan-Harbour Construction has recently been selected to complete a 32,065-square-foot warehouse expansion for Dik Drug Co. here at 160 Tower.The firm warehouses more than 20,000 products over a broad spectrum of categories and specializes in providing service and support to independent pharmacies. Morgan / Harbour was selected to add to the existing 78,082 square foot property. The expansion will include five exterior docks and one drive-in door and the facility will feature 28-foot clear ceiling heights. The project is scheduled for completion in the first quarter of 2011.

CHICAGO-Richard Holtzman, the former president of Preservation Chicago Inc., has formed a new firm called Prairie Shores Management Company LLC. The company will specialize in vintage property, managing Chicago’s vintage condominiums, townhomes and co-operatives.

SIOUX FALLS, SD-Arbor Commercial Funding LLC arranged the recent funding of a $1.6 million loan under a Fannie Mae product line for the 48-unit complex known as Sertoma Hills Apartments here. The 10-year loan amortizes on a 30-year schedule. The loan was originated by Anthony Tarter, director.

HARRODSBURG, KY-The 60,048square-foot Kroger-anchored community shopping center at 844 South College St. sold for an undisclosed sum. Rebecca Wells and Robert W. Taylor Jr., both members of Cassidy Turley’s Institutional Services Group, represented the seller Centro Properties of New York. The buyer was Chen Development LLC from North Carolina. Major tenants in the center include Kroger, Cato, Arby’s and Cellular One.

HOPKINSVILLE, KY-Nassimi Realty has announced the signing of a long-term lease for a new Citi-Trends apparel store in their Park Plaza shopping center. The center is located on Fort Campbell Boulevard, the major commercial thoroughfare here. The new store is expected to open late next month. The new store in the 115,000-square-foot Park Plaza will be the fourth store in the Kentucky market.

BLOOMINGTON, MN-Ohio Farmers Insurance Co. has signed an 18,200-square-foot lease at Normandale Place, a United Properties office building here. The owner was represented by NorthMarq office leasing professionals Dan Gleason, SVP, Dan Nechanicky, VP and Zach Pettus, associate. The 80,000-square-foot office is at 8201 Norman Center Dr. off of Interstate 494 and Highway 100. The tenant was represented in the transaction by Jason Butterfield with Cushman & Wakefield.

WEST FARGO, ND-Patrick Minea, SVP and managing director with NorthMarq Capital, arranged first mortgage financing of $3.2 million for Townhomes at Charleswood, a 60-unit multifamily property located at 1908 Burlington Dr. Financing was arranged for the borrower through NorthMarq’s affiliate AmeriSphere Multifamily Finance LLC, a Fannie Mae lender.

GENEVA, IL-Northern Illinois Food Bank has selected Ryan Companies US Inc. to build its new 147,000-square-foot Community Nutrition Center and Food Distribution warehouse at 273 Dearborn Ct. in the Geneva Business Park. The new refrigerated food warehouse and distribution facility being constructed by Ryan will feature 47,000 square feet of office space, 60,000 square feet of dry storage, 20,000 square feet of freezer/cooler space and 20,000 square feet of volunteer circulation area. The space will include both a commercial and production kitchen where foods are packaged and prepared, as raw ingredients and pre-packaged meals. The new facility will be completed by second quarter 2011. Upon completion, NIFB will relocate and expand its operations. Currently the organization is in a 120,000-square-foot facility in St. Charles, IL. The food bank is a non-profit organization that provides food to people in need through 665 partner agency programs in 13 counties.

ROCHESTER HILLS, MI-Robert B. Aikens & Associates LLC today announced the addition of Soma Intimates to its tenant roster at the Village of Rochester Hills lifestyle center project here. The new store, which is scheduled to open in November and will occupy 4,200 square feet, will be the company’s third in Michigan. Other tenants at the center include Ann Taylor Loft, Talbot's, Banana Republic, Chico's, White House | Black Market, Eddie Bauer, J. Crew and Jos. A. Bank.

ROCHESTER HILLS, MI-Centro Properties Group announced a 47,884-square-foot lease has been executed with Emagine Theatres at Hampton Village Centre on Rochester Road between Auburn Road and Barclay Circle. Emagine Theatres is scheduled to open their doors to the community in November. The 10-screen theater will feature 1,900 seats. The former AMC Star facility will undergo a renovation to include a new lobby, concession stand, and stadium seating in all auditoriums. Additionally, digital projection and sound will be installed along with four 3-D equipment auditoriums. Alex Bieri with the Bieri Co. and Brooke Wolf with LaKritz Weber represented the tenant. Centro, the owner, was represented by Justine O'Brien with Centro Properties Group. The company recently announced another new theater in Royal Oak, MI.

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