INDIANAPOLIS — Meritex has acquired the Jefferson Building, a 73,290-square-foot office and warehouse property in Indianapolis. The property is fully leased to four tenants. The acquisition also included a 4.5-acre parcel, capable of supporting an additional 60,000-square-foot industrial building. The acquisition expands Meritex's Indianapolis portfolio to more than 875,000 square feet.
KANSAS CITY, MO. — Opus Design Build has been selected to design and construct a three-story building that will serve as the Kansas Leadership Center's statewide headquarters and conference center for the Kansas Health Foundation (KHF). Launched by the KHF in 2005, the Kansas Leadership Center promotes civic leadership with the goal of creating healthier communities. The 36,000-square-foot facility will be used to host conferences, group meetings, lectures and training. The building will also feature office and classroom space and a 210-person auditorium. Construction will begin later this month and the facility is slated for completion in July 2013. Opus AE Group is the architect and engineer of record for the project.
CHICAGO — Beech Street Capital has arranged $7.7 million in HUD 232/223(a)(7) loans to refinance two skilled nursing facilities in Chicago. The properties include Waterford Nursing & Rehabilitation Center, a 141-bed facility, and the 127-bed Heritage Nursing Home. Joshua Rosen of Beech Street Capital originated the transaction.
MIDDLEBURG HEIGHTS, OHIO — The Soutland South Shopping Center at 13367 Smith Road in Middleburg Heights has sold for $770,000. Anchor tenants at the 56,170-square-foot retail center include Giant Eagle Grocery, Burlington Coat Factory and Petco. The property is situated approximately 16 miles southwest of downtown Cleveland. Bob Havasi of Cooper Commercial Group represented the seller, an institutional entity from New York. He also secured the buyer, a private investor from Cleveland.
KANSAS CITY, MO. — JDA Software Group has opened a new data center in Kansas City. The software company has signed a lease for 15,000 square feet in a data center center owned and operated by Layered Technologies Inc. The center will serve the company's online services and allow JDA to expand its cloud business. The facility will be the company's second data center in the U.S.
OAK PARK, ILL. — Healthcare Trust of America (HTA) has agreed to buy the Rush Medical Office Building in Oak Park for $54 million. The acquisition is part of a purchase option associated with a mortgage investment made by the REIT in December of 2009. The mortgage was secured by Rush MOB and included an option that would allow HTA the ability to buy the 135,000-square-foot property this summer. Rush University Medical Center is fully leasing the medical office building through 2019.
ST. LOUIS — McGrath & Associates has started construction on a $1.7 million outpatient bone marrow transplant center at Saint Louis University Hospital. The 9,900-square-foot facility will be the first comprehensive outpatient center of its kind in the region, and is scheduled to open this fall. It will be located within the St. Louis University Cancer Center. Fox Architects is the project architect.
CINCINNATI — Phillips Edison Strategic Investment Fund II has agreed to buy Kenwood Towne Place, an enclosed mall in Cincinnati, from a bank lending group led by Bank of America. The project consists of 300,000 square feet of retail and 200,000 square feet of office space. The development of Kenwood Towne Place has been on hold since 2008 due to financial trouble. Phillips Edison reportedly plans to spend about $100 million in completing the project. Current tenants at the mall include Crate & Barrel, The Container Store and LA Fitness.
ARLINGTON HEIGHTS, ILL. — A shopping center at 115 Rand Rd. in Arlington Heights has sold to an institutional buyer from New York for $2.2 million. Tenants at the center include Caribou Coffee, Smashburger and Jersey Mike's Subs. Chad Firsel of Quantum Real Estate Advisors represented the seller, a private individual based in Oak Brook, Ill., in the transaction. He also represented the buyer.
ALSIP, ILL. — Meridian Design Build has broken ground on a 171,670-square-foot build-to-suit facility for Polmax Transportation in Alsip. The 38-acre development site includes the demolition of an existing 37,000-square-foot building. When complete, the new warehouse building will include 68 dock positions and 20,000 square feet of office space that will serve as Polmax's corporate headquarters. A vehicle repair facility will also be constructed within the building. Joe Grimes and Bob Malachowski are coordinating the project for Meridian Design Build. arete-Knight is providing architectural services and Hoefferle-Butler is completing the civil engineering work.
