METROPOLIS, ILL. — HREC Investment Advisors has arranged the sale of the 102-room Baymont Inn & Suites hotel in Metropolis, a city in southern Illinois. The Baymont Inn & Suites is located on Front Street, which runs parallel with the Ohio River. Ted Anka, vice president in HREC Investment Advisors' Chicago office, represented the seller in the transaction. An Illinois-based group purchased the hotel.
Midwest
CAROL STREAM, ILL. — COM2 Computer Recycling Solutions has signed a 207,758-square-foot industrial lease at 500 Kehoe Blvd. in Carol Stream, located about 45 miles west of Chicago. The four-year lease expands COM2’s Carol Stream footprint and provides the company with space for continued growth.COM2, headquartered in Carol Stream, is a provider of comprehensive electronics recycling solutions that partners with customers and communities to reduce electronics waste. John Whitehead of NAI Hiffman represented COM2 in the transaction. John Cash, executive vice president, and David Haigh, vice president also with NAI Hiffman, represented the owner, 500 Kehoe LLC.
HUNTINGTON, IND. — Block & Co. Inc. Relators has sold a 12,841-square-foot retail strip center in Huntington, located about 36 miles southwest of Fort Wayne, Ind. BND Commercial represented the buyers, locally-based group. The Walmart Supercenter shadow-anchored center is located at 234 Havenstein Road and is centered in the area's primary retail corridor. Block & Co. Realtors investment group, which includes two partnerships, Bloomfield 2005 LLC and Metcalf Arlington SPE LLC, sold the property. David Block and Max DiCarlo of Block & Co. Realtors represented the seller in the transaction, along with Al Stovall of NAI Harding Dahm.
NEW LENOX, ILL. — DaVita Inc. has signed a second lease for 2,631 square feet in Pavilion A at the Silver Cross Hospital campus in southwest Chicago. NexCore Group developed, leases and manages the 182,000-square-foot Pavilion A, an outpatient facility that connects to the $270 million replacement hospital. DaVita Inc. will occupy space on the fourth level of the building for one of its home dialysis training centers, which will open in July 2014. DaVita also provides outpatient dialysis services at Pavilion A in the 7,000-square-foot infusion center on the first level
STOW, OHIO —The Cooper Commercial Investment Group has arranged the sale of a Burger King property in Stow, located about 35 miles south of Cleveland. Dan Cooper, president and broker at Cooper Commercial Investment Group, represented the seller, a private investment group based in Canton, Ohio. Carrols Corp., which operates more than 570 restaurants under the Burger King brand in 13 states, purchased the property for $704,000.
CHICAGO — Weis Builders has completed the $44 million second phase of Lake Park Crescent, a multifamily redevelopment in Chicago. Phase II, called Sullivan Station, encompasses more than two city blocks in the North Kenwood-Oakland neighborhood.The project will replace the 1960s-era public housing and provide mixed-income housing within both low and midrise buildings. The Davis Group contracted Weis Builders to add a total of 132 units to the community. Weis will also build a midrise building and three-story parking ramp, as well as site preparation for future buildings.
INDIANAPOLIS — CBRE has arranged a $14.5 million loan for the acquisition of Waterside at Castleton Apartments, a Class B multifamily property located on the northeast side of Indianapolis. CBRE worked on behalf of Yakima, Wash.-based Wilkinson Corp. to secure the CMBS financing.The 400-unit apartment community features a mix of one- and two-bedroom layout. Jason Brown, vice president of CBRE’s debt and structured finance office in Indianapolis, originated the loan.
CHICAGO— Pembrook Capital Management LLC has closed $7.3 million in preferred equity financing for a recently renovated mixed-use building in Chicago. Proceeds from the funding will be used to recapitalize the property, which includes 192 apartment units and 20,833 square feet of retail space. The 11-story building recently received a $28 million renovation, which included façade work, improvements to the retail spaces and storefront upgrades. The 148,877-square-foot property is located at 5307 S. Hyde Park Blvd. Constructed in 1918, the building was previously occupied by the Del Prado Hotel until the early 1970s, when it was converted into apartments. The current owner acquired the property in January 2008. The building was 90 percent occupied at the time of the transaction.
CHICAGO — J.C. Anderson Inc. has completed the first phase of the 22,000-square-foot renovation for TransUnion at 555 W. Adams in downtown Chicago. TransUnion, a provider of credit information and information management services, selected J.C. Anderson Inc. to renovate its offices on the fifth floor. Phase I of the construction focused on the capital improvements to the property, which included the addition of a fitness center and a café, as well as extensive lobby renovations. Phase II of the renovation is now underway, which includes the demolition of offices to accommodate a renovated and open floor plan. The new office space will feature angled walls, millwork and glass throughout the space, as well as an upgraded kitchen. Michael Yazbec, president of the J.C. Anderson Inc. is the project executive, Joe Maguire is the project manager and Bob Hickey is the project superintendent for J.C. Anderson. SAS Architects is providing the architectural services for the renovation project, and Adriana Calderon of Jones Lang LaSalle is the project manager.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 37,663-square-foot industrial building located at 6500 W. Calumet Road in Milwaukee. Enterprise Realty Group LLC purchased the building from Anchor Bank fsb. Samuel M. Dickman, Jr. and Samuel D. Dickman of the Dickman Co. Inc. represented the buyer in the transaction. Andy Hess of Colliers International represented the seller.