BETTENDORF, IOWA — McShane Construction has completed the new 316-unit Springs at Bettendorf apartment complex on the corner of 53rd Avenue and Devils Glen Road in Bettendorf. Continental Properties Inc. was the project developer. The 15-building, 357,000-square-foot complex includes units ranging in size from studios to three bedrooms. Amenities include a swimming pool, sun deck, clubhouse, Internet cafe and car wash. Charlan, Brock & Associates provided architectural services for the project.
WEST DUNDEE, ILL. — The Opus Group has completed the sale of a new industrial warehouse building for Maxzone Vehicle Lighting Corp. in West Dundee. The 223,488-square-foot facility is located in the Oakview Corporate Park and includes 3,000 square feet of office space, 20 truck docks and two drive-in doors. Noel Liston of Darwin Realty and Development Corp. represented Opus in the transaction. Eric Chang of US Asia Group represented the buyer, Maxzone. Maxzone is scheduled to take occupancy in the building this April.
CHICAGO — The Harper Theater, a 100-year-old theater building at 5238 S. Harper Ave. in Chicago, has opened its doors following an extensive interior and exterior renovation. The property, previously called the Hyde Park Theater in the 1980s and The Meridian through the 1990s, is on The National Register of Historic Places. The University of Chicago bought the closed theater in 2002 and in 2011, selected PREMIER Design + Building to renovate the structure, while keeping the building's original character. Upgrades to the four-screen, 400-seat theater include a new indoor cafe, second floor meeting space, lighting and a new elevator.
MINNEAPOLIS — KBS Legacy Partners Apartment REIT has acquired Watertower Apartments, a 228-unit, Class A property in suburban Minneapolis. Watertown Apartments, located at 12300 Singletree Lane, is 95 percent occupied and units average 959 square feet. Amenities include a fitness center, business center, conference rooms, a sauna and courtyards with grills. The property also includes 100,000 square feet of retail space. HFF arranged a $25 million, five-year acquisition loan for the buyer through Allianz of America. Matthew Lawton, Sean Fogarty and Marty O'Connell led the HFF team that represented the seller in the transaction.
WASHINGTON TOWNSHIP, OHIO — Township Square Associated has sold Township Square, a 49,840-square-foot shopping center in Washington Township, located about 15 miles south of Dayton, for $12.6 million. The property, located at 1045-1165 Miamisburg-Centerville Road, is fully occupied by tenants such as Arhaus Furniture, Chipotle, Fedex Office, Piada and First Financial Bank. The building was constructed in 1989 and renovated in 2012. Jeff Johnston, Chris Prosser and Steve Trimmel of Colliers International represented the seller.
MINNEAPOLIS — EdR has completed agreements with GEM Realty Capital and Schenk Realty Group to jointly develop and own new off-campus collegiate housing at the University of Minnesota in Minneapolis. EdR will be a 50 percent owner and will manage the community on behalf of the joint venture. Construction has begun on an $88 million collegiate housing development in the Dinkytown neighborhood two blocks from the University of Minnesota's main campus in Minneapolis. Scheduled for completion in summer 2014, this community will offer 901 beds in a variety of 308 furnished studios, one-, two-, three- and four-bedroom units each with private bedrooms and baths. Amenities will include an indoor swimming pool and basketball court, fitness center, bicycle storage and wash area, outdoor deck and grilling area, Zen gardens and an outdoor plaza. The building will also contain 25,000 square feet of retail space.
GROVE CITY, OHIO — Team Gemini has selected Colliers International to market Gemini Synergy Center Industrial Park in Grove City. The $250 million project will be constructed on 343 acres, just north of State Route 665. The industrial and research park will serve as a sustainable business cluster powered by a waste stream within a Community Reinvestment Area. Bill Baumgardner of Colliers will market the property to tenants. Team Gemini plans to become the main anchor at the park, and will build process facilities for recycled products.
INDIANAPOLIS — Lancaster Pollard has arranged $39 million in loans for the refinancing of seven nonprofit skilled nursing and skilled pediatric facilities in Indiana and Illinois, owned by Hoosiers Care. The facilities include: Exceptional Living Center of Brazil in Brazil, Ind.; Randolph Nursing Home in Winchester, Ind.; Richland Bean-Blossom Health Care Center in Ellettsville, Ind.; Vernon Manor Children’s Home in Wabash, Ind.; Exceptional Care and Training Center in Sterling, Ill., Swann Special Care Center in Champaign, Ill., and the Walter J. Lawson Children’s Home in Loves Park, Ill. Steve Kennedy and Chris Blanda led the Lancaster Pollard team that arranged the loans through the FHA 232/223(f) program.
SAUK VILLAGE, ILL. — Principle Construction Corp. has completed a new 267,000-square-foot, build-to-suit manufacturing facility for Winpak Portion Packaging in Sauk Village, located about 30 miles south of Chicago. Demody Properties is the building owner. The facility includes a warehouse, production area, offices, maintenance area, chemical storage room and printing area. Winpak manufactures and distributes packaging materials and related packaging machines. Harris Architects provided architectural services and Jacob & Hefner Associates provided civil engineering service. George Cibula of Darwin Realty represented Dermody in the transaction. Justin Fierz of Lee & Associates represented the tenant.
MINNEAPOLIS, INDIANAPOLIS AND MIDLOTHIAN, ILL. — Viking Partners has acquired three shopping centers in the Midwest as part of its Fund II portfolio. Viking acquired a fee simple ownership in the 28,289-square-foot Kensington Park in Minneapolis, and tenants include Starbucks, Chipotle and Sprint. The company also acquired a fee simple interest in Indian Creek Commons, a 59,782-square-foot center in Indianapolis. Tenants include FedEx Kinko's, Deals and GameStop. Additionally, Viking bought a non-performing loan secured by Mid Oak Shopping Plaza, a 77,249-square-foot property in Midlothian, 20 miles south of Chicago.
