Midwest

CIENA OPENS $12M NURSING FACILITY IN WEST BLOOMFIELD, MICH.

by admin February 8, 2013

WEST BLOOMFIELD, MICH. — Ciena Healthcare has opened Notting Hill of West Bloomfield, a $12 million skilled nursing facility. The 71,000-square-foot facility offers 94 rehabilitation suites, including 56 private suites, for individuals who require medical therapy or treatment following surgery or a hospital stay. The medical facility is located at 6535 Drake Rd. at the intersection of Drake and Maple roads in West Bloomfield, about 30 miles north of Detroit. Ciena broke ground on the property in August 2011 and construction was completed last year.

February 8, 2013

MARCUS & MILLICHAP ARRANGE SALE OF DISTRIBUTION CENTER FOR $9M

by admin February 8, 2013

FOSTORIA, OHIO — Marcus & Millichap has arranged the sale of a 488,379-square-foot Arm & Hammer distribution center for $9 million. The net-lease property is fully leased to Church & Dwight Co. and located at 110 E. Jones Road in Fostoria, about 40 miles south of Toledo. Jason John, John Abuja and Paul Tesdal of Marcus & Millichap represented the seller, a limited liability company and the buyer, a partnership.

February 8, 2013

Midwest Office

GOOD FOOD GROUPS TO MOVE HQ FROM CHICAGO TO PLEASANT PRAIRE, WIS.

by admin February 8, 2013

PLEASANT PRAIRE, WIS. — Good Food Groups LLC has purchased a 56,642-square-foot production facility in Pleasant Prairie for its new headquarters. The LLC is moving from its 9,000-square-foot facility in Chicago. The building was listed for $3.8 million on LoopNet. Nick Walby, Brian Bocci and Dan Benassi of Entre Commercial Realty represented the seller and Jason Lev of CB Richard Ellis represented the buyer in the deal.

February 8, 2013

Midwest Office

CONSTRUCTION UNDER WAY FOR TEACH FOR AMERICA’S NEW HQ IN CHICAGO

by admin February 8, 2013

CHICAGO — Construction is under way for Teach for America’s new corporate headquarters in the historic 300 W. Adams building in Chicago’s West Loop. The building is 7,000 square feet with a majority of the space featuring an open office area with an exposed concrete deck and mechanical systems. Summit Design + Build is constructing the new headquarters. Fitzgerald Earles Architects and Associates is the project architect. Construction is slated for completion by the end of the first quarter. Teach for America is a nonprofit organization that enlists recent college graduates to teach for at least two years in low-income communities throughout the U.S.

February 8, 2013

Midwest Multifamily

FIFIELD, CARROLL TO DEVELOP $148M LUXURY APARTMENTS IN METRO CHICAGO

by admin February 7, 2013

EVANSTON, ILL. — Fifield Cos. and Carroll Properties will develop a $148 million luxury apartment project in downtown Evanston, a Chicago suburb. The 368-unit apartment project will include two building at 1881 Oak Ave. and 1890 Maple Ave. The property at 1881 Oak will be 16 stories and 1890 Maple will be 14 stories. A four-story structure, which will connect the two buildings, will include three floors of parking and a fourth-floor amenity deck. Rental units will range from 500-to-1,500 square feet and offer studio, one-, two- and three-bedroom layouts. Construction is set to begin in the third quarter of this year.

February 7, 2013

Midwest Office

MINNEAPOLIS MIXED-USE OFFICE BUILDING FOR $118M

by admin February 7, 2013

MINNEAPOLIS — Newport Beach, Calif-based KBS Real Estate Investment Trust has acquired RBC Plaza, a 678,045-square-foot office building in downtown Minneapolis for $118 million. RBC Plaza is a 40-story building that includes 609,368 square feet of office space and 68,677 square feet of retail and amenity space above an underground parking structure. At the time of sale, the building was 83 percent occupied. KBS has hired Cushman & Wakefield/NorthMarq to manage and lease the asset.

February 7, 2013

Midwest Retail

TWO CVS PHARMACY BUILDINGS SELL FOR COMBINED TOTAL OF $1M IN ILLINOIS

by admin February 7, 2013

AURORA AND LEMONT, ILL. — Two CVS pharmacy buildings have sold to a private group in Florida for $500,000 a piece. Both CVS locations are corporately backed with long-term, triple-net leases and were built in 2002. The Aurora property is 17,468 square feet and has a small retail space attached to the CVS. The Lemont property is 10,908 square feet. Cleveland, Ohio-based Cooper Commercial Investment Group represented the buyer and the seller, a private group out of Illinois, in the deal.

February 7, 2013

Midwest Multifamily

662-UNIT APARTMENT COMPLEX IN URBANA, ILL. HITS THE MARKET

by admin February 7, 2013

URBANA, ILL. — Town & Country Apartments, a 662-unit apartment complex with a 52-unit self-storage facility, has hit the market in central Illinois. The price is open bid and the call for offers is scheduled for Feb. 12. Located at 1032 E. Kerr. Ave. in Urbana, the apartment complex was constructed in five phases beginning in 1968 and ending in 2008. The multifamily property includes 412 one-bedroom units and 250 two-bedroom units. Marcus & Millichap is the listing agent for Town & Country Apartments.

February 7, 2013

Midwest

CREIGHTON UNIVERSITY IN OMAHA TO UNDERGO $12M RENOVATION

by admin February 6, 2013

OMAHA, NEB. — The Opus Group has been awarded a $12 million contract from Creighton University in Omaha to renovate and build an addition to the Harper Center. The addition will create a new home for the university’s college of business. As part of the project, portions of four additional campus buildings will be renovated to accommodate a variety of other academic departments and student services. Originally completed in 2008, approximately one-third of the 220,000-square-foot Harper Center will be remodeled to house Creighton’s College of Business. The project broke ground in late 2012 and is slated for completion by early 2014.

February 6, 2013

Midwest Office

GALLERIA OFFICE PARK IN CHAMPAIGN, ILL. SELLS FOR $1.5M

by admin February 6, 2013

CHAMPAIGN, ILL. — Galleria Office Park, a 16,600-square-foot office complex, has sold for $1.5 million to Urbana, Ill.-based Zimmerman & Clark Holdings LLC. The two-story property, which is located at 2506 Galen Drive in Champaign, was built in 2001. Jay Sikorski of locally based Coldwell Banker Commercial Devonshire Realty represented both the buyer and the seller, Mike Thompson of Thompson Land Co., in the deal.

February 6, 2013

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