NAPERVILLE, ILL. — Phillips Edison & Co. Inc. (PECO) has purchased Naperville Crossings, a 146,591-square-foot shopping center in Naperville. The purchase price was $49.9 million, according to Crain’s Chicago Business. A newly constructed, 21,820-square-foot Aldi grocery store anchors the property. Other tenants at the retail center, which is 92 percent leased, include AT&T, Biaggi’s Ristorante Italiano, Massage Envy, Nothing Bundt Cakes, Orangetheory Fitness, Panera Bread and Starbucks. Evan Halkias and Michael Marks of Cushman & Wakefield represented the undisclosed seller in the transaction.
JOLIET, ILL. — Accuride Corp. has fully leased a 291,728-square-foot industrial building at Rock Run Business Park in Joliet. The speculative building was completed in the fourth quarter of 2018. It features a clear height of 36 feet, 38 dock doors, 234 parking spaces and build-to-suit office options. Accuride, a manufacturer of premium automotive parts, will consolidate two of its Chicago-area facilities in Batavia and Naperville. Mike Fonda, Chris Lydon, Chris Tecu and Brian Pomorski of Avison Young represented the developer, IDI Logistics, in the lease transaction. Mark Urbanowicz and Matt Burton of Mohr Partners represented the tenant.
CHICAGO — JLL Capital Markets has arranged an $84 million loan for the refinancing of 210 N. Carpenter, a new 12-story office building in Chicago’s Fulton Market district. Keith Largay, Brian Walsh and Patrick Healy of JLL arranged the financing on behalf of the borrower, Sterling Bay and institutional investors advised by J.P. Morgan Asset Management. Bank of America provided the loan. Sterling Bay developed the 206,000-square-foot property and Solomon Cordwell Buenz led the design. Leopardo, one of the building’s first tenants, completed construction of the building earlier this year. Google will begin moving workers to the property this fall. Amenities at the building include a rooftop lap pool, tenant lounge, gaming area, fitness center, yoga room and conference facilities.
WEST CHICAGO, ILL. — Value Industrial Partners has acquired Bowling Green Center, a 14-building office and industrial property in West Chicago. The purchase price was not disclosed. Located at 245 W. Roosevelt Road, the asset spans 274,000 square feet. The property was 90 percent leased at the time of acquisition. Value Industrial plans to complete significant improvements, including new roofs, paving, landscaping and signage. The center will be renamed Roosevelt Center. Jeff Girling of Paine/Wetzel represented Value Industrial in the transaction. The seller was not disclosed.
DARIEN, ILL. — Premier Design + Build Group has broken ground on a 153,000-square-foot speculative warehouse on behalf of Sterling Bay in Darien, about 25 miles southwest of Chicago. The industrial building will feature a clear height of 30 feet, 31 exterior truck doors and two drive-in doors. The nine-acre site, located near I-55, will also include 161 parking stalls. Completion is slated for November. The project team includes Cornerstone Architects Ltd. and civil engineer Spaceco.
SKOKIE, ILL. — Panattoni has purchased three industrial properties located near each other in Skokie: a 78,101-square-foot building at 7515 Linder Ave., a 35,000-square-foot building at 7555 Linder Ave. and a 44,000-square-foot building at 7520 Long Ave. The developer plans to demolish the buildings in order to construct a 140,000-square-foot speculative distribution facility. The development will feature a clear height of 32 feet, 30 exterior docks, two drive-in doors and parking for 141 cars. Completion is slated for the fourth quarter of this year. Volkert will market the property for lease. Chris Volkert of Colliers International represented the private sellers.
BUFFALO GROVE, ILL. — Marcus & Millichap has brokered the sale of Creekside Commons in Buffalo Grove for $4.1 million. The 23,058-square-foot retail center is located at 1101 Weiland Road. Tenants include 7-Eleven, Re/Max, Creekside Dental, Tokyo Nails, Pizanoz Pizza and State Farm Insurance. Mitchell Kiven of Marcus & Millichap marketed the property on behalf of the seller, a Libertyville, Ill.-based partnership of real estate investors. Kiven also sourced the buyer, Shiner Buffalo Creek LLC, a retail developer and investor.
PLAINFIELD, ILL. — Wight & Co. has completed the Prairie Activity and Recreation Center (PARC) for the Plainfield Park District. The 37,000-square-foot building was designed to be both a Passive House U.S.-certified facility and a net-zero energy building. Passive House certification means that building systems, insulation and windows create an air-tight structure that keeps the indoor temperature consistent every day of the year. A net-zero building is one in which the amount of energy used by the building on an annual basis is roughly equal to the amount of renewable energy created onsite. PARC features 28,600 square feet of solar panels. The two-story building includes a 4,000-square-foot fitness center and studio with a full-size basketball court, walking track and a 1,600-square-foot multipurpose room for classes and special events. A preschool suite features four classrooms.
VERNON HILLS AND AURORA, ILL. — Centennial has unveiled new green space concepts at two malls in Illinois — Hawthorn Mall in Vernon Hills and Fox Valley Mall in Aurora. Centennial will transform the malls’ center courts into a multi-use environment in efforts to enhance consumer experience. Centennial will invest $12 million in the courtyards, which total 31,115 square feet. The new courtyards will be surrounded by dining and entertainment options. The design team includes architect Stantec and general contractor Graycor Construction Co. A timeline for construction was not released.
BENTON, ILL. — Barber Murphy has brokered the sale of a 397,000-square-foot manufacturing plant in Benton for an undisclosed price. The property is situated on 39 acres at 451 E. Illinois Ave. Marine Acquisitions Inc. sold the plant to Mincon Rockdrills USA Inc. Barber Murphy represented both parties in the sale.