ROSEVILLE, MINN. — VANTive Group, a franchise company based in Chicago, has signed a 2,000-square-foot lease at 2425 Rice St. in Roseville for a new Dunkin’ Donuts restaurant. It is the first lease in Minnesota for the VANTive Group, which owns five existing Dunkin’ Donuts restaurants in the Chicago area. Roseville is located eight miles northeast of Minneapolis. The restaurant site, owned by Hempel, is under construction and the restaurant is scheduled to open this fall.
NOVI, MICH. — Children’s clothing retailer Hanna Andersson and American Girl are set to open new locations at Twelve Oaks Mall, a 550,000-square-foot center located in the Detroit suburb of Novi. Both retailers are slated to open in early August on the mall’s upper level near Nordstrom. The American Girl store will be the retailer’s first in Michigan, and will be a temporary boutique, according to reports by Crain’s Detroit Business.
DETROIT — Wayne State University will break ground this Wednesday, July 20 on the Mike Ilitch School of Business, a new academic building on the public university’s Detroit campus. The new school is named for Mike Ilitch, the founder of Little Caesars Pizza and owner of the Detroit Red Wings professional hockey team. The project will be largely funded by a $40 million gift from Ilitch and his wife, the largest donation in Wayne State’s history. The project in total will cost $50 million, according to Crain’s Detroit Business. The Mike Ilitch School of Business will be located on the southwest corner of Woodward Avenue and Temple Street in The District Detroit, a massive redevelopment surrounding the Red Wings’ new arena currently under construction. The school is scheduled for completion in 2018.
ROMEOVILLE, WOODRIDGE AND NEW LENOX, ILL. — Englewood Construction has broken ground on three projects in Chicago’s west and southwest suburbs. The developments include the ground-up construction of the Chicago area’s first Blain’s Farm & Fleet in Romeoville, the renovation of a Sam’s Club in Woodridge and the interior remodeling of an AMC Theatre in New Lenox. In the first project, Englewood is constructing a 120,690-square-foot Blain’s Farm & Fleet at 451 S. Weber Road in Romeoville. Set to open this fall, the project will be the sporting goods retailer’s 37th location. Charlotte, N.C.-based Little Diversified Architectural Consulting is the project architect. In the second project, the renovated AMC Theatre at 1320 Maple St. in New Lenox is scheduled to open late this summer. The installation of recliners is part of Englewood’s interior remodeling of the venue’s 14 auditoriums. The 51,269-square-foot project also includes renovations to the box office, guest services area, lobby, concessions and restrooms. Kansas City, Mo.-based Lickel Architecture is the project architect. In the third project, Englewood is remodeling the interior of the 139,325-square-foot Sam’s Club at 7300 Woodward Ave. in Woodridge for national client Wal-mart Stores Inc. The project is scheduled for completion in late July. …
MADISON HEIGHTS AND HOWELL, MICH. — Signature Associates has arranged three industrial leases totaling just shy of 110,000 square feet in Southeast Michigan. In the first transaction, Signature negotiated the lease of 52,045 square feet at 1044 Durant Drive in Howell. Jim Montgomery of Signature Associates represented the landlord, North Star Ranch, and the tenant, Hatch Stamping. In the second transaction, Signature negotiated the lease of 38,776 square feet at 900 E. Whitcomb Ave. in Madison Heights to Martin Fluid Power Co. Paul Hoge of Signature Associates represented the landlord, Aventura Properties. In the third transaction, Signature negotiated the lease of 18,800 square feet of industrial space located at 31201 Mally Drive in Madison Heights. Paul Hoge of Southfield, Mich.-based Signature Associates represented the landlord, Mallco Co. and the tenant, Superior Cam Inc.
OVERLAND PARK, KAN. — Charles Dunn Co. has arranged the $16.6 million sale of Metcalf 103, a regional retail center in Overland Park. Located at 10303 Metcalf Road and situated on 18.5 acres, Metcalf 103 includes 148,560 square feet of multi-tenant retail space in 12 buildings. Tenants at the center include Walmart Neighborhood Market, Pier 1 Imports, Buffalo Wild Wings and Subway. Barry Rothstein of Charles Dunn Co. represented the seller, a tenant-in-common group, as well as the buyer, a local investment company.
DARIEN, ILL. — Adelphia Properties has brokered the $3.1 million sale of Crossroads of Darien, a 14,300-square-foot retail center located at 2805-2819 W. 83rd St. in Darien, a suburb of Chicago. The asset was fully leased at the time of sale. George Spirrison and Simeon Spirrison of Adelphia Properties represented the undisclosed seller in the transaction. The buyer was a private investor based locally.
LEAWOOD, KAN. — AMC Theatres (NYSE: AMC) has entered into a definitive agreement to acquire the largest theater exhibitor in Europe, London-based Odeon & UCI Cinemas Group, from private equity firm Terra Firma. The transaction is valued at approximately £921 million, or $1.2 billion. The transaction is comprised of roughly £500 million, or roughly $665 million, for the equity, 75 percent of which is in cash; and 25 percent of which is stock consideration. The deal also includes the assumption of £407 million, or roughly $542 million, worth of net debt. The transaction is contingent upon antitrust clearance by the European Commission and is subject to consultation with the European Works. With 242 theaters and 2,236 screens, Odeon & UCI is currently the number one theater operator in Europe. The combination of AMC and Odeon & UCI will result in AMC’s operation of 627 theaters and more than 7,600 screens in eight countries, making AMC the largest movie theater operator in the world. AMC is also currently in a process to acquire Carmike Cinemas (NASDAQ: CKEC). AMC will continue to be headquartered in Leawood, and Odeon & UCI will continue to be headquartered in London, and will operate as a …
INDIANAPOLIS — Colliers International has arranged the sale of the FedEx distribution center located at 7250 E. 90th St. in Indianapolis. The facility is an 89,024-square-foot industrial building located in the city’s northeast submarket. Colliers International marketed the property on behalf of the seller, Citimark. Greenstone Partners, a firm based in Chicago, purchased the asset for $6.3 million at a 6.5 percent cap rate. Built in 1998 for Federal Express, 7250 E. 90th St. is located in the Northeast Business Center, an industrial park near I-69 and I-465. Alex Cantu and Jason Speckman led the Colliers International team representing the seller. The buyer represented itself in the transaction.
CHICAGO — Cushman & Wakefield has brokered a 29,079-square-foot office lease at 200 W. Monroe for Chicago-based Civis Analytics, a provider of data science software and services. Civis has grown from 15 employees in 2013 to 120 today, and plans to add at least 75 jobs in 2016. The company, which is relocating, will begin occupying its new office space at 200 W. Monroe in August. The property is a 23-story office tower located in Chicago’s West Loop submarket. Recent renovations to the building include a modernized lobby and conference center. In addition to the upgrades, the building offers amenities such as a gym and restaurants. Cushman & Wakefield’s Steve Schneider, Bill Starcevich and Jake Hagelow led the transaction.