REBusinessOnline

Despite Third-Quarter Losses, Walgreens to Invest $1B to Open Doctors’ Offices at US Stores

DEERFIELD, ILL. — In its fiscal 2020 third-quarter results, Walgreens Boots Alliance Inc. said its performance was “significantly impacted by the COVID-19 pandemic,” causing sales to be roughly $700 million to $750 million lower. The decline is largely attributed to its international stores. In April, sales at Walgreens stores in the United Kingdom were down 85 percent. Deerfield, Ill.-based Walgreens says that pharmacy volume was impacted globally by a drop in doctor visits and hospital …

Healthcare, Illinois, Midwest, Retail

Principle Construction Completes 879,040 SF Spec Warehouse in Monee, Illinois

MONEE, ILL. — Principle Construction Corp. has completed an 879,040-square-foot speculative warehouse in Monee, about 35 miles south of Chicago. Principle completed the project in a joint venture with Location Finders International and DeBartolo Development. The building sits on 61 acres within the larger Bailly Ridge development. The facility features a clear height of 36 feet, 100 dock positions, 191 trailer stalls, 161 auto parking stalls and four drive-in doors. Harris Architects designed …

Development, Illinois, Industrial, Midwest

Ambrose Property Group to Develop 205,000 SF Build-to-Suit for Love’s Travel Stops in Indianapolis

INDIANAPOLIS — Ambrose Property Group is developing a 205,000-square-foot build-to-suit for Love’s Travel Stops in Westpoint Business Park, which is situated in the Monrovia/Mooresville submarket of Indianapolis. Love’s will own the facility. Fritz Kauffman, Kevin Archer, Greg Dickerson and John Wilkinson of Cushman & Wakefield represented Love’s in the negotiations. Love’s plans to relocate a tire retread and distribution center from Plainfield, Ind. Construction is slated to …

Development, Indiana, Industrial, Midwest

Hydrite Chemical to Relocate Headquarters to Golf Parkway Corporate Center Near Milwaukee

BROOKFIELD, WIS. — Hydrite Chemical Co., a manufacturer and supplier of chemicals, has unveiled plans to move its headquarters to Golf Parkway Corporate Center in Brookfield near Milwaukee. Brookfield-based Hydrite will fully occupy a two-story office building spanning approximately 45,000 square feet. Irgens is the developer and owner. Kahler Slater is the project architect and CG Schmidt is the general contractor. A timeline for occupancy was not disclosed. Hydrite currently occupies a …

Development, Midwest, Office, Wisconsin

Superior Felt & Filtration Signs 75,000 SF Industrial Lease in McHenry, Illinois

MCHENRY, ILL. — Superior Felt & Filtration (SFF) has signed a 75,000-square-foot industrial lease at 1359 Ridgeview Drive in McHenry, about 50 miles northwest of Chicago. McHenry-based SFF has experienced rapid growth due to the production of personal protection equipment for coronavirus. Owned by Midwest Industrial Funds (MIF), the 218,064-square-foot building is a former Motorola production site. It features a clear height of 28 feet. MIF plans to renovate the office space and add more …

Illinois, Industrial, Leasing Activity, Midwest

Parent Company of Blue Cross & Blue Shield Illinois Signs 103,533 SF Office Lease in Chicago

CHICAGO — Health Care Service Corp. (HCSC), the parent company of Blue Cross & Blue Shield of Illinois, has signed a 103,533-square-foot office lease at Mural Park in Chicago. Located at 920 W. Cullerton St., the two-building office project is now 63 percent leased. Mural Park is a redevelopment of two historic 100,000-square-foot industrial loft buildings in Chicago’s Pilsen neighborhood. It was completed in January 2019. HCSC will fully occupy one of the buildings and join existing …

Illinois, Leasing Activity, Midwest, Office

McShane Underway on 166-Unit Senior Living Development in Algonquin, Illinois

ALGONQUIN, ILL. — McShane Construction Co. is underway on the construction of a new senior living development in suburban Chicago known as The Oaks at Algonquin. The 166-unit project will incorporate independent living, assisted living and memory care units. Spectrum Retirement Communities is the developer and Vessel Architecture is the architect. The three-story community will feature amenities such as three restaurants, a salon, media lounge, theater, health club, community center and …

Development, Illinois, Midwest, Multifamily, Seniors Housing

JVM Realty Acquires 121-Unit Luxury Apartment Community in Suburban St. Louis

CLAYTON, MO. — JVM Realty Corp. has acquired Ceylon Apartments, a 121-unit luxury apartment community in Clayton, a suburb of St. Louis. The purchase price was undisclosed. Built in 2017, the transit-oriented property features 13,421 square feet of ground-floor retail space. This is the first acquisition for JVM in the St. Louis area. JVM Management Inc. will manage the

Acquisitions, Midwest, Missouri, Multifamily

StorageMart Opens 784-Unit Self-Storage Facility in Metro Kansas City

OLATHE, KAN. — StorageMart has opened a 784-unit self-storage facility in East Olathe within metro Kansas City. The Class A, climate-controlled facility features several elevators. All access is controlled with individual codes and cameras. Customers also have access to an online tenant portal. StorageMart now operates approximately 225 locations in three

Development, Industrial, Kansas, Midwest, Self-Storage

H. Betti Industries Signs 41,168 SF Industrial Lease in Bensenville, Illinois

BENSENVILLE, ILL. — H. Betti Industries Inc. (HBI) has signed a 41,168-square-foot industrial lease at 350 N. York Road in Bensenville near O’Hare International Airport. HBI distributes amusement, vending and audio-visual equipment, including parts and services for video games, pinball machines, jukeboxes, pool tables and currency changers. Beginning in August, the company will consolidate two of its existing operations — a 25,000-square-foot distribution center in Bensenville and a …

Illinois, Industrial, Leasing Activity, Midwest
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