CHICAGO — Marcus & Millichap has arranged the $4 million sale of three apartment buildings in Chicago. The assets were located at 4709 W. Belmont Ave., 4844 West Henderson St. and 4539 W. Wellington Ave. The buildings feature 62 units and four street-level retail spaces. Joe Smazal and James Clough of Marcus & Millichap represented the seller, a local private investor. James Ziegler of Marcus & Millichap represented the buyer, a limited liability company.
CHICAGO — Retailers Salvatore Ferragamo and Ermenegildo Zegna have expanded and renewed leases at 645 N. Michigan Ave. in Chicago. Salvatore Ferragamo, which sells luxury handbags, shoes and small leather goods, renewed its ground-level lease for 2,700 square feet and expanded to the second floor, taking 3,300 square feet. Italian men's wear giant Ermenegildo Zegna renewed its ground-level lease for 2,400 square feet and also expanded to the second floor, taking 2,900 square feet. 645 North Michigan LLC and Nakash 645 North Michigan LLC own the property, which is managed by The Feil Organization. Robert Gibson of Cushman & Wakefield represented Salvatore Ferragamo in the transaction. Joan Siegel of Siegel Consultants represented Ermenegildo Zegna. The Feil Organization was represented in-house by Brian Feil and Ken Hanson.
ST. LOUIS, MO. — A $5.8 million renovation for the eighth floor of the Shoenberg Pavilion on the Barnes-Jewish Hospital north campus is under way. The 23,000-square-foot project will be be completed in four phases. The project will create a new 25-bed patient division while relocating an Intensive Care Unit to a different location on the eighth floor. McGrath & Associates is the general contractor and construction manager on the project, which is slated for completion in May 2013. OWH Inc. is the architect.
ST. ANTHONY, MINN. — Oak Grove Capital has arranged a $6.2 million 232/223(a)(7) HUD Lean loan for the refinancing of Chandler Place in St. Anthony. The seniors housing community contains 119 units.
DES MOINES, IOWA — DoubleTree by Hilton has opened the newly renovated, 100-room DoubleTree by Hilton Des Moines Airport. Formerly a Radisson, the hotel is owned and operated by Heart of America Group under a franchise agreement with a subsidiary of Hilton Worldwide. Guest rooms at the full-service hotel feature new carpeting, window treatments, furniture and bedding. The property also features a new lobby lounge. The hotel is adjacent to the Des Moines International Airport.
AURORA, OHIO — Marcus & Millichap has arranged the sale of Aurora Inn & Conference Center, a 69-room hotel in Aurora. The full-service hotel was built in 1962 and is located at 30 East Garfield Road. Amenities include an indoor and outdoor pool, hot tubs, courtyards, tennis courts and a restaurant. Jonathan Ruprai of Marcus & Millichap represented the seller, a financial institution, in the transaction. He also represented the buyer, a limited liability company.
COLUMBUS, OHIO — Alliance Data Systems has signed a lease for 69,981 square feet at 4400 Easton Commons in the Easton Office Park in Columbus. Randy Stephens and Brian Douglas of Cassidy Turley represented the building owner, Equity Office Properties, in the transaction. Equity acquired the property in 2011 as part of a 19-building office portfolio purchase from Duke Realty.
JOLIET, ILL. — Acer America Corp. has renewed its lease for 275,860 square feet of industrial space at Laraway Crossings Business Park in Joliet. The space is part of a 374,460-square-foot facility, located at 251 Laraway Road. The building includes 4,900 square feet of office space, 40 exterior docks and 30-foot clear ceiling heights. Steve Connolly and Eric Tresslar of NAI Hiffman represented the landlord, Ryan Cos., in the transaction. Jim Hebst of Interstate Tenant represented Acer.
WAUKEE AND PELLA, IOWA —Watermark, a subsidiary of The Freshwater Group, has acquired two continuing care retirement communities in Iowa for $40 million. The properties include the Village at Legacy Pointe at 1650 S.E. Holiday Crest Circle in Waukee, Iowa and Vriendschap Village at 2602 Fifield Road in Pella, Iowa. The 185-bed Village of Legacy Pointe is a newly constructed community that is 80 percent occupied. Vriendschap Village features 91 units and is 88 percent occupied. Mark Myers and Joshua Jandris represented the seller, Ewing Land Development, in the transaction.
LEXINGTON, NEB. — BD Construction has broken ground on a 115,000-square-foot manufacturing facility for Orthman Manufacturing in Lexington. Orthman, a firm that produces heavy duty agricultural equipment, plans to hire an additional 100 employees. The new building will operate alongside the company's existing facility in northeast Lexington. Once the facility is completed in 2013, the company will move some of its operations to the new site. Orthman is receiving funding assistance on the project through the Nebraska Advantage Act, which offers tax incentives for companies willing to expand and create new jobs.
