OAK BROOK, ILL. — J.C. Anderson Inc. has been selected to complete a 20,000 square-foot office build-out for Millennium Trust Co. within Commerce Plaza, an office building in Oak Brook. Commerce Plaza, located at 2001 Spring Road, will undergo an interior build-out to add additional space on the third floor of the building. The full-floor remodel will include construction on open workspaces, private offices, training areas and a large multi-purpose room. This is the second project for J.C. Anderson with Millennium Trust. Dan Burnette is the project manager for the build-out. Ryan Kingsmill is the project superintendent for J.C. Anderson. Cannon Design will provide architectural services. CBRE is the project manager.
Midwest
BOLINGBROOK, ILL. — NAI Hiffman has arranged an office lease extension with Wi-Tronix at The Promenade Bolingbrook, a 715,000-square-foot mixed-use center with more than 1 million square feet of shopping, dining and office space. Wi-Tronix, a supplier of remote monitoring systems for the locomotive industry, occupied approximately 13,470 square feet when it first moved into the complex in 2010. The company will now occupy 21,662 square feet of space at the center. The Promenade Bolingbrook, located at 631 E. Boughton Road, is fully leased and contains tenants such as Barnes & Noble, Macy’s, Ted’s Montana Grill and a list of other stores and restaurants. Jim Alder represented Forest City, owner of The Promenade Bolingbrook, in the transaction. Bill Main and James Soljacich of CBIZ represented Wi-Tronix.
BATAVIA, ILL. — Marcus & Millichap has arranged the sale of a State Farm-anchored retail center for approximately $1.3 million. The 5,994-square-foot retail property is located at 1906-1928 W. Wilson St. in Batavia, a western suburb of Chicago. The center is fully occupied by three tenants that operate under long-term net leases. Hanson Family Chiropractic and Elliff Dental occupy 74 percent of the center. The remainder of the space is leased to State Farm, which recently executed a new 10-year lease. Austin Weisenbeck, Adrian Mendoza and Sean Sharko of Marcus and Millichap listed the property for the seller, a local developer. Marcus & Millichap’s team also represented the buyer, an undisclosed partnership.
HUDSON, OHIO — Ellsworth Partners LLC has sold Turner’s Mill Complex, an office and retail complex located at 36 E. Streetsboro Road in Hudson, to Streak Investments-Hudson I LLC for approximately $2.2 million. Turner’s Mill, which is located just southeast of Hudson Square, is anchored by Redwood Grill, Dollar Bank and Morgan Stanley Smith Barney Financial Advisors, all in long-term leases. Jerry Fiume of NAI Cummins Real Estate represented the seller in the transaction. Ellsworth Partners redeveloped the property in 2010. Hudson is approximately 15 miles north of Akron.
COON RAPIDS, MINN. — Minneapolis-based NorthMarq Capital has arranged a $5.5 million acquisition loan for Cameron Medical Center in Coon Rapids, which is approximately 15 miles north of Minneapolis. Cameron Medical Center is a 31,843-square-foot medical office building located at 3789 Coon Rapids Blvd. Patrick Minea of NorthMarq arranged the financing for the borrower.
DALLAS — HFF has arranged a $65 million refinance loan for a portfolio of 99 Burger King properties in six states. Dallas-based HFF, which represented affiliates of Jaylor Services, secured a 10-year, fixed-rate, non-recourse loan through Ladder Capital. Burger King locations in the portfolio include four in Missouri, three in Kansas, 57 in Louisiana, 22 in Alabama, four in Florida and nine in Mississippi. All properties are leased on a long-term, absolute triple-net-lease basis to an affiliate of Strategic Restaurants, a subsidiary of Ceberus Capital Management. The HFF team included Mark West and Brandon Chavoya.
INDIANAPOLIS — HSA PrimeCare has sold the North Meridian Medical Center at 10601 North Meridian Street in Indianapolis. The sales prices was undisclosed. Carmel Medical Office Building, an affiliate of tenant Multi-Specialty Surgery Center, purchased the 23,000-square-foot building. Multi-Specialty Surgery Center is expanding its current practice at the North Meridian Medical Corridor. Built in 1981 and remodeled in 1993, North Meridian Medical Center is a two-story, off-campus medical office building located near the Indianapolis central business district, Indiana University Health North Hospital, St. Vincent’s Heart Center of Indiana and St. Vincent Indianapolis Hospital. HSA PrimeCare represented itself in the transaction.
CHICAGO — Johnson Capital has arranged $60 million in fixed-rate senior debt for the refinancing of a retail condo in the One North State Street office building in Chicago. The retail condo includes 150,000 square feet of space on the ground floor and three additional lower floors of the 16-story, 673,400-square-foot building. The remaining 523,000 square feet of the building is office space. One North State is located at the intersection of State and Madison streets. The retail space is 98 percent occupied with a stable mix of anchors, including TJ Maxx and Burlington Coat Factory. Other retailers include Claire’s, Chipotle, Dunkin Donuts, The Body Shop, GNC and Payless Shoe Source. A large foreign bank provided the 10-year loan. Neil Bane and Roger Brandt of Johnson Capital arranged the financing.
CHICAGO — First Hospitality Group Inc., in a joint venture with Skokie, Ill.-based North Capital Group LLC, is redeveloping the former Purple Hotel in Chicago. The new hotel will open as a SpringHill Suites in fall 2015 as part of a larger mixed-use project called The Shoppes at Lincoln Pointe, which will include retail, dining, grocery and office space. The five-story hotel will feature 160 guest rooms, 4,000 square feet of banquet space and 1,000 square feet of meeting space. The hotel is within close proximity to downtown Chicago, O'Hare airport, Loyola University and Northeastern Illinois University.
ROCHESTER HILLS, MICH. — Bernard Financial Group has arranged a $9.2 million loan for a 49,031-square-foot retail property in Rochester Hills, located about 27 miles north of Detroit. Kevin Kovachevich of Bernard arranged the loan for the borrower, CW Owner LLC. A CMBS lender provided the loan.