SHAKOPEE, MINN. — The Opus Group has started construction on an approximately 200,000-square-foot speculative industrial warehouse and distribution facility in suburban Minneapolis. Located near Highway 169 and Highway 101, the development marks the start of Phase I at the future Valley Park Business Center. The building will feature 32-foot clear ceiling heights, 37 dock doors, two drive-in doors and approximately 160 parking spaces. The facility is slated for completion in spring 2014. Opus Development Co. LLC is the developer, Opus Design Build LLC is the design-builder and Opus AE Group LLC is the architect and engineer.
BLUFFTON, IND. — The Boulder Group has arranged the $3.1 million sale of a net-leased CVS/pharmacy property located at 1203 S. Main St. in Bluffton. CVS is the sole occupant of the 10,125-square-foot retail building. The drugstore has approximately seven years of lease term remaining with a rental escalation in 2014. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private partnership, in the transaction. The buyer was a high net-worth individual in a 1031 tax-deferred exchange.
DEERFIELD, ILL. — Walgreen Co. has completed the sale-leaseback of six office buildings in its headquarters complex in Deerfield, a northern suburb of Chicago. Escondido, Calif.-based Realty Income Corp. purchased the property. Jones Lang LaSalle, which marketed the property, previously said the drugstore giant intended to sell the campus for approximately $85 million. The complex spans 574,605 square feet on 38 acres. Guy Ponticiello and Bruce Westwood-Booth, both managing directors, and Brian Shanfeld, senior vice president, led the Jones Lang LaSalle team in the transaction.
MINNEAPOLIS — Hyatt Hotels Corp. has opened Hyatt Place Minneapolis Downtown, which has just completed a rebranding and renovation. Connected to Minneapolis’ climate-controlled skyway, the 213-room hotel is located minutes away from the historic Hennepin Theater District and shopping, restaurants and nightlife. The hotel includes 1,800 square feet of high-tech meeting and function space and a coffee-to-cocktails bar. Each guestroom features a 42-inch HDTV and a sectional sofa sleeper.
CHICAGO — Marcus & Millichap has arranged the sale of DaVita Dialysis Building, a 18,965-square-foot property in Chicago, for $5.9 million. Austin Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Oak Brook office, marketed the property on behalf of the seller, a private investor. David Weinberg, an investment specialist in Marcus & Millichap’s Detroit office, represented the buyer, a Michigan-based investor. The newly constructed building is located at 4253 S. Cottage Grove Ave. at the intersection of South Cottage Grove Avenue and 43rd Street. The property is a build-to-suit, flagship facility for DaVita Dialysis, which occupies 89 percent of the building. At the end of 2012, DaVita operated or provided services at 1,954 outpatient centers in the United States.
CARROLL, IOWA — Phillips Edison–ARC Shopping Center REIT Inc. has acquired its first shopping center in Iowa for $3.8 million. CitiCentre Plaza is a 63,518-square-foot shopping center in Carroll, located approximately 90 miles northwest of Des Moines. Hy-Vee grocery store occupies 45,613 square feet, anchoring the center. CitiCentre Plaza is 87.7 percent leased to six tenants. Davis-HV LLC sold the property to Phillips Edison.
ARLINGTON HEIGHTS, ILL. — Weber Atrium Centre LLC has sold an 115,000-square-foot flex building in Arlington Heights, about 30 miles northwest of Chicago, for $2.7 million. RMS Properties purchased the property, which is located at 715-723 Algonquin Road. The building, which fronts Interstate 90, is approximately 80 percent office. Tenants at the property include the State of Illinois and AVI Systems Inc., which signed a lease for 23,000 square feet earlier this year. Ed Lowenbaum and Jason Talanian with Chicago-based Lowenbaum REP represented Weber Atrium Centre LLC in the transaction. Kelly Joyce and Jason Simon of Colliers International represented RMS Properties.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 55,000-square-foot industrial building in Milwaukee. Theodore F. Dragotta purchased the building from The Robert A. Paneitz Revocable Living Trust. The property is located at 900 N. 46th St. Anthony Huenerbein of Dickman/CORFAC was the broker involved in the transaction.
ROSELLE, ILL. — HREC Investment Advisors has arranged the sale of the 101-guestroom Country Inn & Suites in Roselle, located about 30 miles west of Chicago. Scott Stephens, COO and senior principal, and Scott Kaniewski, senior vice president at HREC Investment Advisors, represented the seller, a private equity firm, in the transaction. The Country Inn & Suites is located two miles from the Schaumburg Regional Airport and roughly 13 miles from O’Hare International Airport. The hotel also includes 22,000 square feet of meeting space.
PAPILLION, NEB. — The Lerner Co. and RED Development have begun construction on a new Sam’s Club in Papillion, a southern suburb of Omaha. Sam’s Club will open at Settler’s Creek Shopping Center, located at 72nd Street and Cornhusker Road. The new location, scheduled to open in the fall of 2014, will feature a pharmacy, optical department, fuel station and photo center to serve members in the community. Sam’s Club will join Walgreens and Hobby Lobby, which have previously opened at Settler’s Creek. When completed, the Settler’s Creek Shopping Center development will total 250,000 square feet.