SCHERERVILLE, IND. — Ryan Cos. has broken ground on a $40 million, 177-unit senior living development in Schererville. Clarendale of Schererville is slated to open in the spring of 2017. The 206,000-square-foot development will be constructed on a nine-acre site and will consist of 85 independent living units, 38 assisted living units and 54 memory care units. Apartments will range from 720 square feet to 1,300 square feet for the independent living units and 300 square feet to 890 square feet for the assisted living and memory care units. Amenities will include a craft room, movie theater room, bistro, pub and billiards room, library, wellness center, salon, fitness room, multipurpose room and a private patio with courtyard.
PLYMOUTH, MINN. — Duke Realty Corp. has agreed to develop a 134,384-square-foot office and warehouse build-to-suit facility for Intereum Inc. in Plymouth, a western suburb of Minneapolis. Intereum supplies commercial office and healthcare furniture, floor coverings and related products to corporations and government entities. As part of the deal, Intereum has entered into a long-term lease agreement with Duke Realty, which will develop the facility on nearly 14 acres that it owns adjacent to Waterford Ponds, an office and retail complex. The building will include nine dock doors, one drive-in door, 152 automobile parking spaces, a 125-foot truck court and a 30,000-square-foot showroom. Construction on the facility is slated to begin in May 2016 and be completed in March 2017. This development marks the fifth time in the last 18 months that Duke Realty has undertaken an industrial build-to-suit project in Minneapolis. Jon Yanta and Brent Erickson of NorthMarq represented Intereum in the build-to-suit transaction. Matt Oelschlager of CBRE represented Duke Realty.
INDIANAPOLIS — Colliers International has brokered the sale of a 51,974-square-foot retail center in Indianapolis for $6.5 million. Pyramid Place Shops is located at 3450 W. 86th St. at the entrance of College Park Office Park. LNR Property LLC sold the retail center to Ziff Properties Inc. Tenants at the property include Einstein Bros. Bagels, Spherion Staffing, T-Mobile, Qdoba, Firehouse Subs, Skyline Chili and Georgia Reese’s. Alex Cantu of Colliers represented the seller in the transaction.
WHEELING, ILL. — CBRE has brokered the sale of an 83,787-square-foot industrial facility in Wheeling, approximately 30 miles northwest of Chicago. Orange Crush LLC purchased the asset from 571 South Wheeling Road LLC for an undisclosed price. The manufacturing building is situated on 4.3 acres and was formerly occupied by Main Steel LLC. Orange Crush plans to reposition the property, located at 571 Wheeling Road, to accommodate its business as a provider of road construction services and materials in metro Chicago. Ryan Bain, Zach Graham and John Maloney of CBRE were the sole brokers in the transaction.
MILWAUKEE, WIS. — Siegel-Gallagher has arranged a 5,362-square-foot office lease for The Benedict Center, an interfaith, nonprofit criminal justice agency in Milwaukee. The Benedict Center will lease space at The Ring Building, located at 1849 N. Martin Luther King Jr. Drive. The landlord is 1849 MLK LLC. John Dulmes and Dan Walsh of Siegel-Gallagher represented the tenant in the transaction.
CREST HILL, ILL. — Ridgeline Property Group has unveiled plans to develop a 438,150-square-foot distribution center in Crest Hill, approximately 40 miles southwest of Chicago. Along with capital partner Cabot Properties Inc., Ridgeline will build the Class A facility on a 29-acre site that the two companies acquired in September. Site work will begin in January and completion is slated for August 2016. David Bercu and Jim Estus of Colliers International will market the property for lease. The cross-dock facility, located at 16824 Enterprise Blvd., will feature 32-foot clear heights, four drive-in overhead doors, 36 exterior docks, 319 car parking spaces and 163 trailer parking spaces.
EDINA, MINN. — Brookdale Senior Living has completed a $30 million renovation to Brookdale Edina, formerly Edina Park Plaza. The seniors housing community is located in Edinborough Park in the Minneapolis suburb of Edina. Brookdale remodeled the independent living and assisted living apartments and added 36 memory care units. The project also adds a new main lobby, bistro, library, dining room and activity area to the community. The new and renovated units will be available for residents in January. Based in Brentwood, Tenn., Brookdale Senior Living is the largest owner and operator of seniors housing in the United States, managing more than 110,000 units, according to the American Seniors Housing Association’s ASHA 50 rankings.
CHICAGO — Acting on behalf of Riverside Investment & Development Co., CBRE has signed Navigant Consulting Inc. to an 110,000-square-foot lease at a 53-story office tower under construction in Chicago. Navigant will move its global headquarters to the new building to be located at 150 N. Riverside Plaza. As a result of the four-story lease to Navigant Consulting, the office tower is now 75 percent pre-leased. The Class A building, which will span 1.2 million square feet, is slated for completion in January 2017. William Blair & Co. LLC and Hyatt Corp. will also be moving their global headquarters to the building. Goettsch Partners is the building designer and Magnusson Klemencic Associates is serving as the structural engineer. Drew Neiman of CBRE represented Riverside Investment & Development Co. in the transaction.
CLEVELAND — Pillar has originated an $11.8 million Fannie Mae loan for a multifamily property in Cleveland. Mariner’s Watch is a Class A property that was built in 2014. The 62-unit, four-story building includes 33 one-bedroom units and 29 two-bedroom units. The property also features an indoor parking garage and is 100 percent leased. Joe Markech and Brooke Jackson of Pillar originated the fixed-rate, 10-year loan that two-years of interest-only payments to refinance the original construction loan followed by a 30-year amortization schedule. The undisclosed borrower is a local multifamily property owner and operator. The Mariner’s Watch property has obtained a Energy Star certification for energy efficiency.
PONTIAC, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 26,202-square-foot industrial building in Pontiac, approximately 30 miles north of Detroit. TSLLC Liquidation Co. LLC sold the property to Knight Properties Group LLC for an undisclosed price. The building is located at 1450 E. Highwood Blvd. Larry Schultz of Friedman represented the buyer in the transaction and Mike Koenigbauer of Friedman represented the seller.