ITSACA, ILL. — Lemko Corp., a global software maker for the mobile wireless network, has moved its corporate headquarters to Itsaca. The company signed a long-term lease for 22,347 square feet at One Pierce Place after outgrowing its previous space at 1700 E. Golf Road in Schaumburg. The new lease also provides the company an opportunity to expand into contiguous space within the same building over the next several years. Jim Rose, Gregg Raus and Mark Kolar of Jones Lang LaSalle represented the tenant in the transaction.
ATLANTA — AdCare Health Systems has agreed to sell six assisted living facilities in Ohio for $22.3 million to a long-term Ohio operator of assisted living facilities. The transaction is expected to close before the end of the year. The six communities include a total of 196 units and generate an estimated $8.9 million in gross annualized revenue. The care provider will use the proceeds from the sale to finance its ongoing mergers and acquisitions program, which is focused on skilled nursing acquisitions.
CANTON, OHIO — Michigan Best Land has acquired a 176,731-square-foot industrial facility in Canton. The property is located at 40500 Van Born Road. Steve Gordon, Brad Viergever and Mark Hamway of Signature Associates represented the seller, American Equity.
OAK BROOK, ILL. — SWC Technology Partners has expanded its office lease by 3,235 square feet at 1420 Kensington Road in Oak Brook. SWC, an information technology company, occupies 22,036 square feet within The Crossings of Oak Brook, a complex made up of two Class A buildings. SWC has grown by 8,412 square feet since its first lease at The Crossings. Dan O'Neill and Garrett Schultz of NAI Hiffman represented the landlord, The Davis Cos., in the transaction. Dave Stefancic and Lexis Livingwood of UGL Equis represented the tenant.
CHICAGO — Summit Design + Build has been selected as the general contractor for the redevelopment of parcels at 70-104 E. Oak St., immediately east of the firm's ongoing renovation of the old Esquire Theater site in Chicago's Gold Coast neighborhood. The existing building will be demolished to make way for a new 14,200-square-foot retail building, designed for high-end retail and entertainment use. Upon completion of the Esquire renovation and the 70-104 W. Oak St. building, the projects will provide more than 17,000 square feet of ground-level retail space. Booth Hansen is providing architectural services for the project. Completion is scheduled for the first quarter of 2013.
MENDOTA HEIGHTS, MINN. — Opus Design Build is designing and constructing a new 4,000-square-foot Science, Technology, Engineering and Math (STEM) building at the Convent of Visitation School in Mendota Heights. In addition to the STEM center, Opus will also construct a new main entrance along with the additional classrooms and study and gathering areas. The new building will serve as a workshop and assembly space for the school's robotics program and engineering classes. Concurrent with the work, an 1,800-square-foot expansion to the school's dining area will also be constructed. The project is slated for completion in January 2013.
BROOKFIELD, ILL. — Commercial real estate services firm Jones Lang LaSalle plans to open a new corporate office in suburban Brookfield. Dan Jessup, a longtime Milwaukee-area commercial real estate executive, has been tapped to lead the new office and will be joined by fellow broker Michael Streit. Jessup and Streit are joining the firm from APEX Commercial Realty and will specialize in representing office and industrial real estate tenants and owners, as well as local corporations. Among the team's first assignments is overseeing leasing for four office buildings totaling 350,000 square feet in Waukesha and Brookfield owned by a private Midwest-based real estate investment company.
DEARBORN, MICH. — Severstal Dearborn, a Michigan-based steel maker, has renewed its lease for 62,203 square feet of industrial space in Dearborn. The facility is located at 14661 Rotunda Drive. John Boyd and Grant Bruce of Signature Associates represented the tenant in the transaction.
Activity is picking up in the Indianapolis retail market, buoyed by a strengthening economy that has intensified retail expansion. Positive job growth, escalating new home construction and rising retail sales are attracting new stores and have instigated other retailers to consider additional locations in selective pockets around the metro area. The northern submarkets within Hamilton County are particularly active, especially around Exit 10 of I-69 in Noblesville, where new housing construction has fostered retail growth. In Carmel, the renovation and re-tenanting of The Centre and The Corner are moving forward. The 82nd Street corridor is also lively as the nearly completed expansion of The Fashion Mall has attracted new retailers to the state such as West Elm and Free People. Nearby, last year’s repositioning of Rivers Edge is initiating smaller new developments with Dairy Queen, Wendy’s and Famous Dave’s among the recent openings. The 127,000-square foot project will include an Earth Fare grocery, Walgreens and Panera Bread. Large spaces are being filled across the metro area. Jo-Ann Fabrics is taking 28,000 square feet along Highway 36 and Brickhouse Fitness has penned a lease for 15,000 square feet along Lafayette Road. Although retail construction is at near historic lows, smaller buildings …
CHICAGO — Chicago-based ShopperTrak is moving its corporate headquarters to Willis Tower with a new lease of 52,450 square feet. ShopperTrak anonymously counts people, analyzes data and identifies opportunities to increase revenue for retailers, mall developers and entertainment venues. Derek Rolison and Miek Kazmierczak of U.S. Equities Asset Management represented Willis Tower in the transaction. Bill Sheehy and Dan McCarthy of Jones Lang LaSalle represented the tenant. Willis Tower has completed more than one million square feet of leasing activity in 2012, including the addition of United Airlines' corporate headquarters.