Midwest

MARQUETTE UPGRADES THE APARTMENTS AT WOODFIELD CROSSING

by admin June 13, 2012

ROLLING MEADOWS, ILL. — The Marquette Cos. has completed its renovation of The Apartments at Woodfield Crossing, a 662-unit complex in Rolling Meadows. Marquette and its joint venture partner, The Davis Cos., purchased the community in 2010 and made a series of renovations including the replacement of exterior lighting and the installation of new roofs. Energy-efficient windows were added to 490 of the units as well as new patio doors. Marquette also upgraded the amenities, including the sand volleyball court and soccer field. The property is located at 4700 Arbor Drive and rents range from $845 to $1,425 per month.

June 13, 2012

CONSTRUCTION TO BEGIN ON NEW AQUATICS CENTER AT LUTTNER COLLEGE

by admin June 13, 2012

DECORAH, IOWA — Opus Design Build will construct a 17,800-square-foot aquatics center at Luther College in Decorah at a cost of $5.9 million. The facility will feature an 8-lane competition pool, 13-foot-depth diving area and shallow pool for swimming lessons. Opus AE Group will serve as the architect and structural engineer while Michaels Engineering will be the mechanical, electrical and plumbing engineer and Braun Intertec the geotechnical consultant. Construction is set to begin this September with completion expected in May 2013.

June 13, 2012

Midwest Office

SOURWINE BREAKS GROUND ON MAJOR OFFICE DEVELOPMENT

by admin June 12, 2012

INDIANAPOLIS — Sourwine Real Estate Services has broken ground on an 80,699-square-foot, multi-tenant office building at 8335 Keystone Crossing in Indianapolis. The three-story building will include 25,000 square feet per floor. Sourwine will own, develop and manage the building. The project marks the first fully speculative commercial real estate development in the Indianapolis area since 2008.

June 12, 2012

Midwest Multifamily

AFL-CIO INVESTS $10M FOR AFFORDABLE HOUSING IN OHIO

by admin June 12, 2012

CANON, OHIO — AFL-CIO Housing Investment will invest $10 million toward a $14 million project to rehabilitate the Mayfield Manor Apartments in Canon. The scope of work includes interior repairs and upgrades. The installation of low-flow plumbing fixtures will reduce energy consumption. The National Steelworkers Oldtimers Community Urban Redevelopment Co. developed the apartment building in the early 1980s to provide low-income seniors with access to affordable housing. Since its completion in 1982, the property has been managed by the Elderly Housing Development & Operations Corp.

June 12, 2012

Industrial Midwest

DISTRIBUTION COMPANY INKS NEW WISCONSIN LEASE

by admin June 12, 2012

FRANKLIN, WIS. — Distribution Solutions has inked a lease for 18,600 square feet of industrial space at Franklin Commerce Center, located at 9630 S. 54th St. in Franklin. Tom Shepherd and Jim Larkin of Colliers International represented the landlord, CLPF Franklin LLC, in the transaction.

June 12, 2012

Midwest Office

GLADSTONE ACQUIRES PROPERTY IN OHIO FOR $13.3M

by admin June 11, 2012

NEW ALBANY, OHIO — Gladstone Commercial Corp. has purchased an 89,000-square-foot office building in New Albany for $13.3 million. The property includes a three-story office building connected to a two-story research and development facility. The building is leased to CV Management Corp., a wholly owned subsidiary of Commercial Vehicle Group (CVG). CVG is a global supplier of complete cab systems in the heavy-duty truck, construction and agricultural equipment markets.

June 11, 2012

Midwest Multifamily

AFL-CIO INVESTS $11M TO REVITALIZE TWO AFFORDABLE HOUSING COMMUNITIES IN CH

by admin June 11, 2012

CHICAGO — AFL-CIO Housing Investment Trust has provided $11 million to fund the rehabilitation of two affordable housing properties in Chicago. In the city's Uptown community, the funds will support much-needed improvements at Hazel Winthrop Apartments, a four-building development constructed a century ago. In the South Lakefront area, $8.8 million will be used to renovate the Bronzeville Senior Apartments, an 11-story high-rise. The projects will include exterior and interior repairs and energy-conserving retrofits, such as greater insulation and more efficient energy systems.

June 11, 2012

Midwest Multifamily

GRANDBRIDGE ARRANGES $17.2M MULTIFAMILY CONSTRUCTION FINANCING

by admin June 11, 2012

ST. LOUIS PARK, MINN. — Grandbridge Real Estate Capital has arranged a $17.2 million first mortgage loan for The Flats at West End, a 119-unit apartment community in St. Louis Park. The property is scheduled to open in the spring of 2013. Ben Fazendin of Grandbridge arranged the new construction financing through FHA's 221(d)(4) loan program. The 40-year, fixed-rate mortgage has a 40-year amortization schedule.

June 11, 2012

Midwest Office

ASTELLAS PHARMA OPENS $150M U.S. HEADQUARTERS IN NORTHBROOK

by admin June 8, 2012

NORTHBROOK, ILL. — Tokyo-based Astellas Pharma US has opened its $150 million corporate campus in Northbrook, a site that serves as the company's North American headquarters. The 446,000-square-foot facility includes a covered parking structured, fitness center and high-tech conference center. GlenStar Properties served as the developer for the project and MB Real Estate was the project manager. The project team also included Goettsch Partners, SmithGroupJJR, WMA Consulting Engineers and Power Construction Co. Astellas is Japan's second-largest drugmaker.

June 8, 2012

Midwest Seniors Housing

SUNRISE SENIOR LIVING TO TRANSFER 7 COMMUNITIES TO NEW JOINT VENTURE

by admin June 8, 2012

LOMBARD, ILL. — CNL Healthcare Trust has entered an agreement with Sunrise Senior Living for a joint venture that will own seven seniors housing communities valued at $226 million. CNL will contribute approximately $57 million and will own 55 percent of the joint venture, with Sunrise owning the remainder. The seven communities include Sunrise at Fountain Square in Lombard. Sunrise is currently the sole owner of the seven communities and will continue to operate them under a long-term management agreement. The transaction is expected to close within 60 days.

June 8, 2012

Newer Posts

Older Posts

Upcoming Events

Aug
06