PLEASANT PRAIRIE, WIS. — CenterPoint Properties will develop a new 200,696-square-foot industrial building within LakeView Corporate Park in Pleasant Prairie, approximately 40 miles south of Milwaukee. The speculative building, LakeView Corporate Center, can accommodate up to three tenants. The facility will feature LED lighting, 32-foot clear heights, 20 exterior docks, two drive-in doors, 18 trailer parking spaces and office space to suit. LakeView Corporate Park is an 11 million-square-foot development that is home to over 80 tenants. The project is currently spread over 2,400 acres and has more than 200 acres remaining for future development.
CHICAGO — Interra Realty has brokered the $2.5 million sale of a multifamily property in Chicago’s Rogers Park neighborhood. The 24-unit property, located at 7526 N. Seeley Ave., features one- and two-bedroom units. Recent renovations include new porches, a new HVAC system, granite countertops, stainless steel appliances, hardwood floors and all new copper plumbing and electric wiring. A group of local investors sold the property to an undisclosed buyer. Interra Realty was the sole broker in the transaction.
TROY, MICH. — Friedman Integrated Real Estate Solutions has arranged a 16,454-square-foot office lease in Troy, approximately 30 miles north of Detroit. Law firm Dinsmore & Shohl LLP will occupy space at Wilshire Plaza North, which is located at 900 Wilshire Drive. Steve Eisenshtadt and Keith Grebinski of Friedman represented the landlord in the transaction.
ROYAL OAK, MICH. — Beaumont Health is set to demolish the Northwood Shopping Center and nearly two dozen row houses in Royal Oak to make way for a new development. Plans call for the demolition of the buildings, situated on the southwest corner of 13 Mile Road and Woodward Avenue, to begin July 1. Beaumont hasn’t disclosed any official plans for the area but says the new development will likely be mixed-use. Demolition costs are $2.6 million, excluding environmental cleanup costs. The 213,000-square-foot shopping center was built in 1954 and is 59 percent occupied by 12 tenants. The remaining tenants are on month-to-month leases. Beaumont has owned the property since 1982.
CHICAGO — CBRE has arranged the sale of three assets in Chicago in separate transactions totaling $8.5 million. New York-based Jenel Management Corp. purchased the mixed-use buildings and has plans to demolish all three properties and build a new retail and residential development. Joe and Annie Doppes sold a 9,885-square-foot property and a 4,800-square-foot lot at 1437-36 N. Wells St. The building was comprised of 5,660 square feet of commercial space and three residential units. Jenel also purchased a 5,000-square-foot retail property and 2,400-square-foot lot, located at 1435 N. Wells St., from Metro Park. The last property, situated at 1443 N. Wells St., is a 4,927-square-foot property with a 2,400-square-foot lot that was acquired from an undisclosed seller. Keely Polczynski, James Otto and Michael Gendell of CBRE brokered the transactions.
PRINCETON, IND. — Capital One has provided a $5.9 million fixed-rate loan to refinance a skilled nursing facility in Princeton, approximately 150 miles southwest of Indianapolis. Joshua Rosen of Capital One originated the 35-year HUD 232/223(f) financing. The Waters of Princeton consists of 45 semi-private and five private rooms. The facility was built in 1968 with an addition completed in 1974. The borrower in the transaction was undisclosed.
WESTLAKE, OHIO — Newmark Grubb Knight Frank (NGKF) has brokered the purchase of an industrial property in Westlake, approximately 15 miles southwest of Cleveland, for $4.5 million. The property, located at 1006-1008 Crocker Road, features 23,000 square feet of office space and 147,000 square feet of warehouse and manufacturing space. The facility, situated on 18.7 acres, also includes a retention pond and running trails. Chris Haas, president and CEO of All Pro Trucking/All Pro Freight Systems, purchased the facility under 1006-1008 Crocker Road LLC. Bonne Bell, which was formerly headquartered in the building, was the seller. Mike Petrigan of NGKF represented the buyer in the transaction, and Kevin Kelly of Cushman & Wakefield/CRESCO represented the seller.
GLENVIEW, ILL. — The Missner Group has completed a medical office build-out for Illinois Bone & Joint Institute (IBJI) OrthoAccess. The property, located at 2401 Ravine Way in Glenview approximately 20 miles northwest of Chicago, is a walk-in clinic designed to treat sports injuries and minor auto accident injuries. The build-out included the addition of an entire floor of exam rooms, nursing stations and three waiting areas. The new space for IBJI also features an on-site X-ray suite and renovated reception area. Stephen Rankin Associates provided the architectural services for the project.
For the Dayton office market, it’s all about timing. In one of Miami Valley’s largest office leases in recent memory, CareSource early this year signed a five-year lease to occupy 50,000 square feet on two floors at the 486,000-square-foot Kettering Tower downtown. The nonprofit managed healthcare plan is the largest Medicaid plan in Ohio and the second largest in the United States. CareSource said it will assess current and future business needs and redistribute business units from corporate headquarters and offices at 40 W. Second St. to Kettering Tower. In addition, some staff hired during the first quarter of this year also will be placed at the new location. The CareSource location at Kettering Tower increases the company’s footprint to nearly 600,000 square feet in downtown Dayton. The four downtown Dayton locations — including CareSource’s corporate headquarters at 230 N. Main St., Ballpark Village at 220 E. Monument Ave., offices at 40 W. Second St. and Kettering Tower will support 2,200 staff. The $6 million build-out of the multi-tenant Kettering Tower is specifically designed to accommodate CareSource. Tower Partners LLC, an entity whose investors include New York businessman Albert Macanian, owns the building. But the deal bringing 300 new jobs …
ROCHESTER HILLS, MICH. — Bernard Financial Group has closed a $12.4 million refinancing loan for Hampton Plaza Shopping Center, a 122,484-square-foot retail property in Rochester Hills, approximately 27 miles north of Detroit. Hampton Plaza LLC was the borrower. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan through OneAmerica. Bernard Financial will service the loan and is a mortgage banking firm representing life insurance companies, CMBS lenders and Strategic Alliance Mortgage.