ST. LOUIS — McCarthy Building Cos. has started construction of a $10 million renovation for ELANTAS PDG, a specialty polymer supplier. The 32,000-square-foot ELANTAS complex is located on Second Street in St. Louis. The building was constructed in the 1930s and the project includes a full gut and remodel of the space. Crews will also add 4,000 square feet to house mechanical systems. St. Louis-based Burns & McDonnell designed the project, which is expected to be complete by August 2013.
CHICAGO — Wells Core Office Income REIT has purchased Four Parkway North, a five-story office property in Chicago, for a reported $40.9 million. John Buck Co.'s JBC Fund III was the seller. Built in 1999, the 172,000-square-foot building is located just off of Interstate 94 and the Tri-State Tollway. The property is fully leased to four tenants: CF Industries Holdings, Lundbeck, Randstad Pharma and Amgen USA. Wells Core was self-represented by Peter Mitchell in the transaction.
ELGIN, ILL. — Inland Real Estate Acquisitions has paid $25 million to buy South Elgin Commons, a 128,000-square-foot shopping center in Elgin. The property is fully leased and anchor tenants include Ross Dress For Less and Toys “R” Us. The purchase also includes an undeveloped lot next to Ross Dress For Less that could add an additional 11,000 square feet to the retail center. Inland Real Estate was was self-represented in the transaction by Lou Quilici. Inland reports the average income within a three-mile radius of the center is $123,000 per year.
MACHESNEY PARK, ILL. — A new Army Reserves Training Facility is joining the Willow Creek Business Center in Machesney Park. The facility will consist of more than 15 acres of office and industrial ground and will be located north of Highway 173. The campus will include administrative offices, a library, learning center, weapons vault, weapons simulator and physical fitness area. Orput Cos. sold the land for $1.1 million. The Reserves' objective is to consolidate two of its training facilities to one central campus for better efficiency.
CHICAGO — Summit Design + Build has completed construction of Emmi Solution's new corporate headquarters in the historic 300 W. Adams building in Chicago. Emmi Solutions, a healthcare communications consultant, was previously located in the same building but required additional space. The company signed a lease for 20,455 square feet on the top floor of the 12-story building. The office features a loft-style space with two large rooftop skylights and private offices with glass partition walls. Eastlake Studios served as the project architect.
MERRIAM, KAN. — Construction is under way on three new car dealership locations in Merriam. Each dealership will be located within a 24-acre site off Interstate 35 and 67th Street, known as Merriam Pointe. A Lexus dealership has purchased seven acres and Merriam Auto Mall Developers acquired a five-acre tract for a dealership that will be announced later. A Toyota dealership is under construction on a 12-acre site. David Block of Block & Co. represented the land owner, Merriam Investors, in the sale of all three sites. Jeff Clayton of JMC Realty represented Merriam Auto Mall Developers.
PORTLAND, IND. — Portland Development has purchased a 14,770-square-foot retail shopping center in Portland. The center is located at 1061 W. Votaw St. Stan Phillips of NAI Harding Dahm represented the seller, Rosefield Properties, in the transaction. Phillips also represented the buyer.
HAMILTON, OHIO — Duke Realty has broken ground on a 10,500-square-foot emergency department in Hamilton, which is north of Cincinnati. The department will be located near an existing inpatient facility on TriHealth's 5-acre campus. Duke Realty and Butler County Surgical Properties, a partnership of physicians employed by TriHealth, will jointly own the property. Bethesda North Hospital has fully leased the building for 15 years. PFB Architects is the architect for the project and Duke Realty is the general contractor. The building is expected to open in 2013.
COLUMBUS — Gladstone Commercial Corp. has purchased a 31,293-square-foot office building in Columbus for $4 million. The building is fully leased to Nationwide Children's Hospital (NCH), one of the largest children's hospital systems in the U.S. The property houses administrative personnel that support NCH's 50 medical locations across Ohio.
OMAHA, NEB. — Northern Tool + Equipment has signed a lease for 15,142 square feet of retail space at 7202 Pacific St. in Omaha. Clay Mote of Venture Commercial represented Northern Tool in the transaction. The landlord, MarVon LLC, was self-represented.