ST. CHARLES, ILL. — Adelphia Properties has brokered the sale of a 4,350-square-foot retail building net leased to Gabby’s Kitchen for an undisclosed price. Geneva State Bank sold the property to a local independent restaurant operator. The second-generation freestanding building was built in 2010 and is located at 1650 W. Main St. in St. Charles, approximately 45 miles west of Chicago. George Spirrison and Simeon Spirrison of Adelphia Properties represented both parties in the transaction.
MILWAUKEE — Healthcare Business Insights (HBI) has signed a 24,016-square-foot office lease to occupy the entire 15th floor of 411 East Wisconsin Center, a 654,000-square-foot Class A office tower owned by Riverview Realty Partners. The lease brings the 30-story building to 89 percent occupancy. Riverview Realty Partners has completed a $15 million renovation that included an updated lobby, conference center, new elevators, a new HVAC systems and an upgraded parking structure. Tenants at the office building include Quarles & Brady LLP, von Briesen & Roper, Northwestern Mutual, Morgan Stanley, Wisconsin Athletic Club, PNC Bank and others.
LAKE FOREST, ILL. — Colliers International has arranged a 7,811-square-foot office lease in Lake Forest, approximately 35 miles northwest of Chicago. LifeWorking Enterprises signed a long-term lease for space at 717 N. Forest Ave. LifeWorking Enterprises will create a network of productivity and collaboration spaces in Chicago and its suburbs. The Lake Forest property is the venture’s first location. The mixed-use building is located in Lake Forest’s historic Market Square and consists of a two-story building with ground-floor retail. Dougal Jeppe of Colliers represented LikeWorking Enterprises in the transaction, and Chris Cummins and Jonathon Connor of Colliers represented the property owner, L3 Capital.
SAN ANTONIO AND CHICAGO — San Antonio-based USAA Real Estate Co. and HSA PrimeCare, a division of Chicago-based HSA Commercial Real Estate, have formed a joint venture to acquire and develop outpatient healthcare real estate assets across the Midwest. Along with the announcement, the joint venture also made its first acquisition, a 97,375-square-foot portfolio, for an undisclosed price. The three-property portfolio consists of the Advocate Christ Outpatient Center in Tinley Park, Ill., the Coffee Creek Medical Office Building in Chesterton, Ind. and the APAC Medical Plaza in Crown Point, Ind. The joint venture will acquire an array of medical buildings such as medical office buildings, cancer centers, ambulatory surgery centers, medical wellness centers and other specialty centers. HSA PrimeCare will provide investment analysis, development, leasing and property management services to the partnership.
CARMEL, IND. — Citimark will develop a 60,000-square-foot, Class A office building in Carmel, approximately 20 miles north of Indianapolis. Wagner Reese LLP, a personal injury law firm, and Blue Horseshoe, a software and technology enterprise service provider, will occupy approximately half of the three-story building that will be located at 11939 N. Meridian St. The building is slated for completion in January 2017, and construction will start this spring. Rich Forslund and Matt Langfeldt of Colliers International will serve as the listing agents for the project.
LOCKPORT, ILL. — RJW Logistics has signed a 512,265-square-foot lease for a distribution facility in Lockport, approximately 35 miles southwest of Chicago. ML Realty Partners LLC owns the building located within the Heritage Crossing Corporate Center, a 228-acre business park. The facility is located at 14908 S. Gougar Road and features 32-foot clear heights. There are a total of 12 buildings planned for the Heritage Crossing Corporate Center. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented ML Realty Partners in the transaction. Dominic Carbonari of JLL represented RJW Logistics.
NORTHBROOK AND BARTLETT, ILL. — Brown Commercial Group has brokered the sale of two industrial buildings. In the first transaction, Bill’s Plumbing acquired a 17,290-square-foot building located at 1855 Holste Road in Northbrook, approximately 25 miles northwest of Chicago. The plumber is expanding from a 2,600-square-foot space in Skokie. Trinity Scurto of Brown Commercial represented the buyer, and Juanita Song of Coldwell Banker represented the seller. In the second deal, Care Investments LLC sold a 2,642-square-foot industrial facility to an undisclosed buyer. The building is located at 1292 Humbracht Circle in Bartlett, approximately 35 miles west of Chicago. Brian Lindgren and Dan Brown of Elk Grove, Ill.-based Brown Commercial represented the seller, and Dan Smolensky of Taurus Modal Group represented the buyer. Financial terms of the transactions were not disclosed.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 109,000-square-foot office building in Livonia, approximately 20 miles northwest of Detroit, for an undisclosed price. CEM Wildcat LLC c/o Miller Investment Co. sold the building, located at 31100 Plymouth Road, to D&E Ventures LLC. Steve Eisenshtadt and Phil Konopitski of Friedman Integrated Real Estate Solutions represented the seller in the transaction.
WICHITA, KAN. — WaterWalk Hotel Apartments has inked a deal with Rockford Development Group to develop eight WaterWalk franchises in San Antonio, Dallas, Austin and Denver. Paul Roberts and hotel industry veteran Rob Mossburg are leading Rockford’s end of the venture. Under the terms of the deal, Rockford will become a WaterWalk franchisee. The cost of building the eight locations was estimated at $150 million. Rockford’s construction arm will also become the preferred builder for WaterWalk-owned locations. Wichita-based WaterWalk’s hybrid hotel and apartment model is a play on the extended-stay model, combining traditional hotel services within a gated, apartment-like community. The complex offers one-, two- and three-bedroom floor plans with the option of being furnished or unfurnished upon rental. Amenities at WaterWalk include all-inclusive pricing, full-sized appliances in a modern kitchen, high-speed Internet, satellite television with premium channels and DVR, housekeeping, fitness club membership, a communal bicycle rental program, local transportation, and free breakfast. Entrepreneur Jack DeBoer, founder of Residence Inn, Summerfield Suites, Candlewood Suites and Value Place, created the new concept, which opened its first site in Wichita in 2014. WaterWalk locations target corporate housing needs, holiday travelers requiring an extended stay and those moving to a new city …
DELAFIELD, WIS. — Associated Bank has provided an $11.4 million acquisition loan for a retail property in Delafield, approximately 30 miles west of Milwaukee. Schermerhorn & Co./Heritage-Hillside LLC was the borrower. The 102,700-square-foot shopping center is located at 2720-2850 Heritage Drive and 2725 Hillside Drive. The retail center is situated on an outparcel to a Walmart. Tenants at the 90 percent occupied center include Office Max, Petco, Dollar Tree, Great Clips, Sears Appliance, Subway and Dairy Queen. Schermerhorn & Co. has managed the property for over 18 years.
