COLUMBUS, OHIO — Pace Financial Group has arranged $8.6 million in financing for Waterloo Crossing, a 91,254-square-foot retail center in Columbus. PNC Bank provided the loan to the borrower, the Casto Group.
AURORA, ILL. — Magnetrol has purchased a 220,000-square-foot industrial building within the Meridian Business Campus at 705 Enterprises St. in Aurora. Situated on 10 acres, the facility includes 300,000 square feet of Class A office space, 20 interior docks and contains a 22-foot clear ceiling height. Eric Tresslar of NAI Hiffman represented the seller, GCR Corp., in the transaction. David Friedland of Newmark Grubb Knight Frank represented the buyer.
AURORA, ILL. — ROC Inc. has acquired a 69,630-square-foot flex building at 3600 Thayer Court in Aurora. The single-story building is located five miles from Interstate 88 and is 7 percent leased. The building features two exterior docks, three drive-in doors and 18-foot clear ceilings heights. Adam Tarantur and Randy Podolsky of Podolsky Northstar CORFAC International represented the seller, Jefferson-Pilot Investments, in the transaction. Dave Prioletti of CBRE Group represented the buyer.
KANSAS CITY, MO. — Opus Design Build is constructing a new 200,000-square-foot headquarters building for Freightquote.com in Kansas City. The nation's largest online shipping broker, Freightquote is relocating to Kansas City from its current location in Lenexa. The property will be located on a 30-acre site south of St. Joseph Hospital and offer access to Interstate 435. Construction is slated for completion in June 2013. Opus AE Group is the project architect and VanTrust Real Estate is providing development services.
EAST PEORIA, ILL. — Target is opening a 135,000-square-foot store in East Peoria in March 2013. The store, located at Clock Tower Drive and West Washington Street, will be part of the 86-acre East Peoria Downtown development. The store will feature a fresh produce section, a Starbucks and a Target Pharmacy. The company plans to hire 150 to 200 employees.
AURORA, ILL. — St. Paul Lutheran Church and School has acquired a 64,064-square-foot building at 85 Constitution Drive in Aurora. The single-story facility is situated on 9.3 acres. Michael Meksto and Jim Tsevis of NAI Hiffman represented C-III in the transaction. Mary Bargielski of Prime 1 Realty represented the buyer.
LAKE FOREST, ILL. — Balfour Beatty Campus Solutions has entered into a development agreement with Lake Forest College for a new 233-bed student housing facility. The approximately $15 million project on the college's south campus in Lake Forest also includes demolition of the college's existing Moore Hall student dorm, which was built in 1893. Balfour Beatty has partnered with Solomon Cordwell Buenz as the architect on the project and Walsh Construction as the construction contractor performing demolition and construction work for the new building. Both companies are based in Chicago. The new student housing facility will open in August 2013. The 62,000-square-foot building will feature updated living arrangements that provide expanded social spaces and other enhanced residential options for students living on campus.
MILWAUKEE — RockBridge has arranged a $7.5 million acquisition loan for the 103-room Best Western Inn Towne Hotel in downtown Milwaukee. The new owner, Magna Hospitality Group, is planning a $6.8 million renovation of the property, which will be rebranded as a Fairfield Inn & Suites by Marriott. Construction is slated to begin this fall. The hotel is located near the Frontier Airlines Convention Center and US Cellular Arena.
CHICAGO — Staffing firm Creative Circle has signed a lease for 7,128 square feet of office space on the 14th floor of 330 N. Wabash in Chicago. The initial term of the lease spans more than five years and begins March 1, 2013. With the Creative Circle lease, 330 North Wabash is 89 percent leased. The building, which is owned by a joint venture between subsidiaries of Prime Group Realty Trust, is currently undergoing a renovation that include a new fire safety system, restrooms and elevator cab upgrades. Allen Rogoway of Cresa Partners Chicago and Carlo Brignardello of Cresa Partners Los Angeles represented the tenant in the transaction. PGRT was self-represented by Seven Baron.
MINNEAPOLIS — AFL-CIO Building Investment Trust is breaking ground today on Dock Street Apartments, a new multifamily complex in the North Loop neighborhood of Minneapolis. The six-story complex will be located at 333 North Washington Ave. N. The project will include 185 market-priced rental units, 3,000 square feet of retail space and a two-level parking garage with 190 spaces. The Dock Street Apartments are part of a larger development plan for the area called North Green Loop, and will include future phases of residential, retail and office space.