Schwarz Leases Three Sites for Walmart Storage
CHICAGO-Schwarz Supply Source, based here, has leased three warehouse facilities in the Midwest on behalf of Walmart Inc. to provide locations to store material for store retrofits in the region. The leases in Grand Rapids, MI; Burnsville, MN and Sauk Village, IL total about 877,011 square feet.
Voit Real Estate Services handled the leasing on behalf of Schwarz. The properties are leased for one year each, and are located at 1120 36 St. SE in Grand Rapids (landlord: Ashley Capital), 2300 W. Highway 13 in Burnsville (landlord: First Industrial Realty) and 21399 Torrence Ave. in Sauk Village (landlord: NAI Hiffman).
Peter Castleton, SVP with Voit, tells GlobeSt.com that Walmart needed locations that are near the region’s stores and can handle inventory of up to 350,000 square feet. “When the company goes in to upgrade its stores, they’ll store the shelving and displays and other retrofit materials at these sites,” he says.
Though the leases are only for one year, Castleton says at least the landlords can have an income as the market returns. “Hopefully we’re gaining traction and exiting these low points,” he says.
CHICAGO-Hostway Corp. has signed a new long-term renewal for 52,660 square feet of office at the Boeing Building, 100 N. Riverside Plaza in Chicago. Christopher Cassata with CB Richard Ellis represented ownership, Boeing 100 N Riverside LLC., in this transaction. Matthew Carolan with Jones Lang LaSalle represented the tenant. Built in 1989, 100 North Riverside Plaza is a 770,299-square-foot, 36-floor tower located on the Chicago River.
BUFFALO GROVE, IL-Jeff Cherner, SVP and managing director in NorthMarq Capital’s Chicago Regional office, recently arranged first mortgage financing in the amount of $15 million for 485 Half Day Rd. here. The property is a five-story, Class A suburban office building containing 132,581 square feet of office space with a two-level parking deck. Walgreen’s, Production Services and Ambius are major tenants at the property. Financing was based on a 10-year term and a 25-year amortization schedule and was arranged for the borrower, Millbrook IV LLC, by NorthMarq through its correspondent relationship with Advantus Capital Management.
CHICAGO-Transwestern’s Chicago-based Retail Advisory Services team recently represented Tuesday Morning in five transactions across the Chicago area totaling 95,416 square feet. The retailer, specializing in upscale closeout merchandise, signed leases in Niles, Orland Park, Arlington Heights, Darien and Gurnee. Patrick Owens, SVP with Transwestern, represented the tenant in all five leases. Don Gill of Inland Real Estate negotiated in-house on behalf of the landlord in the Darien lease. Matt Smetana of Edgemark represented the landlord in the Arlington Heights and Gurnee lease transactions. Mary Beth Menlli-Ivelijic of Mid-America Asset Management represented the landlord in the Niles transaction. Kevin Jones of Simon Property Group negotiated in-house on behalf of Simon in the Orland Park lease transaction. The tenant operates 845 stores in 43 states.
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The leases in Grand Rapids, MI; Burnsville, MN and Sauk Village, IL total about 877011 square feet. Voit Real Estate Services handled the leasing on behalf of Schwarz. The properties are leased for one year each, and are located at 1120 36 th St. SE in

This year, Michigan will lose a congressional seat, forcing even more dramatic boundary shifts than in the past. Although the latest map is tentative, Grand Rapids Republican leader Peter Secchia said it's preferable to an earlier version which split

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Ed is also a Fellow with the Center for Independent Media and the host of Declaring Independence, a one hour weekly political talk show on WPRR in Grand Rapids, Michigan.(static) Ed Brayton is a participant in the Center for Independent Media New

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