Midwest

MedProperties Acquires 28,334 SF Surgery Center in Southwest Chicago Suburb

by Christina Cannon March 30, 2016

MOKENA, ILL. — MedProperties Holdings LLC has acquired a 28,334-square-foot surgery center in Mokena, approximately 40 miles southwest of Chicago, for an undisclosed price. The Center for Minimally Invasive Surgery (CMIS) is situated on 3.5 acres at 19110 Darvin Drive. Surgical Care Affiliates Inc. was the seller. The facility consists of a 14,000-square-foot surgery center with four operating rooms, a 5,350-square-foot recovery center with five overnight stay rooms and medical office space. The building was constructed in 2002 and the recovery center and office space was added in 2008. Erik Tellefson of Capital One, arranged debt financing for the acquisition.

March 30, 2016

Illinois Midwest Mixed-Use

M&R Development, Bucksbaum Retail Properties to Develop 148-Unit Luxury Apartment Building in Chicago

by Christina Cannon March 29, 2016

CHICAGO — A joint venture between M&R Development and Bucksbaum Retail Properties LLC has acquired a 2.3-acre site in Chicago’s Lakeview neighborhood for the future development of an apartment building. Addison & Clark, slated for completion in 2018, will contain 148 luxury units and 150,000 square feet of retail space across from Wrigley Field. Demolition of existing structures will take place over the next two months. The retail component, which will be located on the first three floors, will contain a multi-screen theater, health and fitness club and several dining options. The units at Addison & Clark will consist of studio, one- and two-bedroom apartments. The transit-oriented building will be located a block west of the Chicago Transit Authority’s Red Line and will also feature a 405-space parking garage. Solomon Cordwell Buenz will design the LEED-certified building, and Power Construction will serve as the general contractor.

March 29, 2016

Illinois Industrial Midwest

Opus to Build 112,000 SF Speculative Warehouse in Metro Chicago

by Christina Cannon March 29, 2016

BOLINGBROOK, ILL. — The Opus Group has unveiled plans for a 112,000-square-foot speculative warehouse and office building in Bolingbrook, approximately 30 miles southwest of Chicago. The project, known as 1325 Remington, will be located on nine acres within the Carlow Corporate Center along the I-55 corridor. The building will feature 28-foot clear heights, ESFR sprinklers, three drive-in doors, 11 loading docks and parking for 242 cars. The development will be able to accommodate single or multi-tenant occupancy and is slated for completion this October. Opus Development Co. will be the developer, Opus Design Build will be the design-builder and Opus AE Group will be the architect and structural engineer of record. Dominic Derose and Vern Schultz of Colliers International will market the property for lease.

March 29, 2016

Illinois Industrial Midwest

Avison Young Negotiates 190,925 SF Headquarters Lease in Chicago Suburb

by Christina Cannon March 29, 2016

LAKE BLUFF, ILL. — Avison Young has negotiated a long-term, 190,925-square-foot industrial lease in Lake Bluff, approximately 35 miles northwest of Chicago. Homewerks Worldwide, a global supplier of home and commercial plumbing and HVAC products, will move its headquarters into the 256,300-square-foot building at 45-85 Albrecht Drive. Globe Corp. is the landlord. The facility, built in 1995, is situated on 19 acres and features 28-foot clear heights, 20 dock doors and parking for 410 cars. Keith Puritz, Brett Kroner and Eric Fischer of Avison Young represented the landlord in the transaction.

March 29, 2016

Midwest Office Ohio

CDK Global Signs 172,000 SF Lease in Cincinnati Suburb for National Customer Service Center

by Christina Cannon March 29, 2016

NORWOOD, OHIO — CBRE has arranged a 172,000-square-foot, long-term lease for CDK Global, the largest global provider of information technology and digital marketing solutions for the automotive retail industry. CDK Global will operate a national customer service center at Central Parke I & III in Norwood, approximately 10 miles northeast of Cincinnati. CDK Global will bring 1,000 full-time jobs to Norwood. Travis Likes and John Eckert from CBRE’s Cincinnati office, in addition to David Saad from the Chicago office, represented CDK Global in the deal.

March 29, 2016

Midwest Ohio Restaurant Retail

SRS Real Estate Partners Brokers Sale of Net-Lease Retail Property in Columbus

by Christina Cannon March 29, 2016

COLUMBUS — SRS Real Estate Partners has brokered the sale of a retail property net leased to Champps Americana Restaurant in Columbus for an undisclosed price. The 10,582-square-foot restaurant is situated on two acres at 3993 Morse Crossing. Pickerington Square LP purchased the property, which is an outparcel to a power center. Kyle Stonis, Pierce Mayson, John Topping Jr. and Brad Gibbs of SRS Real Estate Partners represented the sellers, a group of tenant-in-common co-owners, in the transaction. The buyer was self represented.

March 29, 2016

Illinois Midwest Multifamily Student Housing

Marcus & Millichap Arranges $11.6M Sale of Student Housing Property in Illinois

by Christina Cannon March 28, 2016

DEKALB, ILL. — Marcus & Millichap has arranged the sale of a 365-bedroom off-campus student housing complex in DeKalb, approximately 70 miles west of Chicago, for $11.6 million, or $64,444 per unit. Ridgebrook Court Apartments is a three-building, 180-unit property that is located at 832 Ridge Drive, 808 Ridge Drive and 835 Edgebrook Drive. The apartments are less than a mile from Northern Illinois University and 7.5 miles from Kishwaukee College. The property has undergone recent renovations including new plumbing, electrical, HVAC, drywall, doors, frames, lighting and security systems. The complex also features updated wood floors, laundry room, kitchens and bathrooms. A private developer sold the asset to a private investor. Eric Bell of Marcus & Millichap represented the seller in the transaction and procured the buyer.

March 28, 2016

Illinois Midwest Mixed-Use

CBRE Brokers Sale of Mixed-Use Building in Chicago for $8.3M

by Christina Cannon March 28, 2016

CHICAGO — CBRE has brokered the sale of a mixed-use building in Chicago for $8.3 million. A foreign investor purchased the building, located at 175 N. Franklin St. in Chicago, from an undisclosed seller. The four-story, 42,552-square-foot property is 100 percent leased to a mix of office and retail tenants. John Slivka of CBRE represented the owner in the transaction.

March 28, 2016

Illinois Loans Midwest Retail

Associated Bank Provides $4.6M Acquisition and Construction Loan for Retail Center in Metro Chicago

by Christina Cannon March 28, 2016

GURNEE, ILL. — Associated Bank has provided a $4.6 million loan to Gurnee Investment Partners LLC to acquire land and construct a 14,800-square-foot retail center in the Chicago suburb of Gurnee. The new center — located across the street from the Gurnee Mills Mall — is already 91 percent pre-leased to Mattress Firm, Vitamin Shoppe, Navy Federal Credit Union and MOD Pizza. Developer Shai Wolkowicki, who specializes in ownership and development of retail and mixed-use properties, owns Gurnee Investment Partners LLC.

March 28, 2016

Industrial Michigan Midwest

L. Mason Capitani Arranges 140,000 SF Industrial Lease in Port Huron

by Christina Cannon March 28, 2016

PORT HURON, MICH. — L. Mason Capitani CORFAC International has arranged a 140,000-square-foot industrial lease in Port Huron, approximately 60 miles northeast of Detroit. Rex Performance Products, a manufacturer of polyethylene foam, has leased the building at 2100 Dove St. Jason Capitani and Joe DePonio of L. Mason Capitani represented both parties in the transaction.

March 28, 2016

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