CHICAGO — Peerless Network, a telecommunications company, has opened a new 12,600-square-foot data center at 840 South Canal St. in Chicago. The $5 million facility will house the company's network operations center and support ongoing network expansion plans. The company has received letters of intent from technology companies and existing customers representing 50 percent of the available space.
BLOOMINGTON, IND. — The Grant Street Inn in Bloomington has opened its new 16-room addition. The new building was designed to match the 1890s-style of the original inn. The addition was also designed to meet LEED certification requirements, and includes energy-saving light fixtures, low-flow showers and solar panel water heaters.
CINCINNATI — Jones Lang LaSalle has been tapped to provide leasing services for Kenwood Towne Place, a 240,000-square-foot office building in Cincinnati. Currently in the redesign phase, the tower is slated for completion in March 2014. A Phillips Edison affiliate purchased the Kenwood property in July. The construction of the project had been interrupted in 2008 due to the project's financial problems. Rusty Myers, David Ottenjohn, Bill Poffenberger and Todd Pease of Jones Lang LaSalle will oversee the leasing assignment.
VALPARAISO, IND. — Construction is complete on a $12 million medical office building on the Community Health Systems' Porter Regional Hospital campus in Valparaiso. The Sanders Trust, in partnership with hospital-based physicians, owns the 60,000-square-foot property. The facility will house Porter Hospital departments and a cancer care center. Robins & Morton constructed the project and Gresham, Smith and Partners provided architectural services.
EAST LANSING, MICH. — EdR has purchased Campus Village, a collegiate housing community serving Michigan State University in East Lansing, for $20.9 million. Campus Village is a 355-bed, 106-unit community adjacent to the university. The property was developed in two phases in 2002 and 2004 and is 97.7 percent leased for the 2012-2013 academic year. The average monthly lease rate is $639 per bed. Amenities include a clubhouse, fitness center, tanning bed, computer lab and volleyball court.
CHICAGO — Chesapeake Lodging Trust has completed its 35-room expansion at the W Chicago — City Center for $5.1 million. The company purchased the property in May 2011. As a result of the project, Chesapeake has expanded the hotel's room count from 368 to 403 keys. The full-service hotel is located at 172 W. Adams St., near Willis Tower and the Civic Opera House. The property also features 12,000 square feet of meeting space, a fitness center and a recently renovated restaurant.
WILLISTON, N.D. — Marcus & Millichap has arranged the $2.1 million sale of 507 Reclamation Drive, an 18-unit apartment property in Williston. The property is fully leased and has recently undergone several large renovations. Mox Gunderson and Joe Cuskey of Marcus & Millichap represented the seller, a partnership, in the transaction.
CHICAGO — MJ Partners Self Storage Group has sold four self-storage properties in Illinois to various investors for a total of $24.3 million. The properties include Metro Self Storage, a 90,890-square-foot property in Chicago that sold for $13.5 million and Boxes To Buses Self Storage, a 131,427-square-foot property in Bourbonnais, Ill. that sold for $5.7 million. Extra Storage Space in Country Club Hills, Ill. sold for $2.7 million and Cardinal Self Storage in Grayslake, Ill. traded for $2.4 million. The buyers included a private equity fund, private operators and public REITs.
NEW LENOX, ILL. — A joint venture between Focus Health Partners and Artemis Real Estate Partners has acquired Paradise Park of New Lenox, an 80-unit assisted living and memory care community in New Lenox, for $9.8 million. The community includes 48 assisted living units and 32 memory care units in five cottages. ARA National Seniors Housing Group represented the buyer in the transaction.
CHICAGO — The Boulder Group has arranged the $1.6 million sale of a net-leased Dollar General property at 5701 Belmont Ave. in Chicago. The 9,500-square-foot property was renovated in 2011 and Dollar General has 10 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a high-net-worth individual from Chicago, in the transaction. The buyer was a private partnership.