Midwest Briefs
Oct 1, 2007 12:00 PM
Cabot Investment Properties appointed Jones Lang LaSalle as the leasing and managing agent for three malls in Ohio and Indiana totaling 1.8 million sq. ft. The portfolio includes Ashtabula Mall in Ashtabula, Ohio, Southland Mall in Marion, Ohio, and North Park Mall in Marion, Ind.
Cushman & Wakefield purchased Northstar Partners, a Midwest commercial real estate firm headquartered in Minneapolis. The firm was previously a member of the Cushman & Wakefield Alliance and will begin operating as part of Cushman & Wakefield immediately.
Transwestern will partner with Equity Commercial Services to create a fully diversified real estate firm serving the Twin Cities area. Founded in 1996, Equity specializes in commercial brokerage and management services, while Transwestern oversees leasing and management for more than 60 properties across the Midwest.
SCI Real Estate Investments acquired River Place Shopping Center, a 155,153-sq.-ft. retail property in Sevierville, Tenn., from Tennessee River Edge, LLC. Scott Derrick and Phillip Duke, of National Retail Acquisitions, represented SCI in the transaction.
NewMark Merrill Cos., in partnership with GMX Real Estate Group, LLC, acquired Winston Plaza Shopping Center, a 375,000-sq.-ft. property in Melrose Park. Ill.
Ramco-Gershenson Properties Trust, in a joint venture with Heitman LLC, purchased Nora Plaza, a 304,000-sq.-ft. community shopping center in Indianapolis. Ramco-Gershenson holds a 7% interest in the joint venture and will manage the property in exchange for service fees.
Phillips Edison & Co. acquired 12 West Marketplace, an 82,111-sq.-ft. shopping center in Litchfield, Minn. The property will be Phillips Edison's first location in the state.
The Jaffe Cos. appointed Raymond Elvey as general manager of the Arboretum of South Barrington. Previously, Elvey served as general manager for the Deer Park Town Center in Deer Park, Ill. He has more than 20 years of experience.
