EAST ST. LOUIS, ILL. — ABC Supply Co. has leased 78,000 square feet of industrial space at 104 St. Clair Ave. in East St. Louis. BARBERMurphy Group represented the tenant in the transaction. They also represented the landlord, T&P East Side Investors.
CHICAGO — Jones Lang LaSalle's Capital Markets and Industrial Services has arranged a programmatic joint venture equity vehicle between Sitex Realty Group (SRG) and State Teachers Retirement System of Ohio, which will seek to acquire more than $140 million of industrial real estate over the next two years. Slated to begin June 1, the venture will target the Chicago, New Jersey and New York metro regions for its acquisitions. SRG will lead and operate the new venture. James Tramuto, Keith Stauber, John Huguenard, Dave Hendrickson and Sean Devaney led the Jones Lang LaSalle team in the transaction.
COLUMBUS, OHIO — Crews lifted the final beam into place for the $1.1 billion James Cancer Hospital and Solove Research Institute and Critical Care Center, located on the Ohio State University medical campus. When complete in 2014, the 21-story hospital will be one of the 15 tallest hospitals in the nation. The Wexner Medical expansion is the largest expansion project in OSU's history. The project is slated to create 6,000 permanent research and healthcare professional positions.
MINOT, N.D. — CBL & Associates Properties has acquired the 622,000-square-foot Dakota Square Mall in Minot, from the New York City-based Lightstone Group. The single-level mall is anchored by a nine-screen Carmike Cinema, Herberger's, JCPenney, Sears, Target and Barnes & Noble. The center generated sales of $470 per square foot for the 12 months ending on March 31 and was 94 percent occupied at the time of the sale. Dakota Square Mall was acquired for $91.48 million, including the assumption of a $59 million loan, which matures in November 2016 and bears a fixed interest rate of 6.23 percent. Savills represented the seller in the transaction.
AUBURN HILLS, MICH. — Prefix Corp. has purchased a 129,562-square-foot retail space at 3500 Joslyn Road in Auburn Hills for an undisclosed amount. The building formerly housed a K-Mart. Paul Hoge and Jim Montgomery of Signature Associates represented the buyer in the transaction. Hoge also represented the seller, TD Joslyn Rd. LLC.
WAUKEGAN, ILL. — Visual Pak Cos. has renewed its lease for 111,182 square feet at 1817 Waukegan Road within the Amhurst Lake Business Park in Waukegan. The packaging provider chose to remain at the industrial facility due to its close proximity to Visual Pak's headquarters building. Whit Heitman, Samuel Badger and Brad Weiner of Paine/Wetzel/TCN Worldwide represented the tenant in the transaction. They also represented the landlord, Prudential Real Estate.
LIVONIA, MICH. — Infineon Technologies, a semiconductor supplier for the automotive industry, has broken ground on a 46,000-square-foot facility in Livonia. Northern Equities of Farmington Hills is constructing the facility on a four-acre site at 19401 Victor Pkwy. The building will include an expanded testing lab, additional engineering facilities and added office space, compared to the company's current offices at 19111 Victor Pkwy. The space will allow Infineon to grow its staff by 50 percent from its current size of 90 employees in Livonia. Infineon plans to occupy the new facility in the winter of 2013.
DUBLIN, OHIO — The University of Dayton has signed a 15,118-square-foot office lease at 5747 Perimeter Dr. in Dublin. Jeff Carey of Cassidy Turley represented the tenant in the transaction. American National Insurance Co. is the landlord.
DANVILLE, ILL. — The Silver Group has arranged the $1.8 million sale of a Goodwill retail store in Danville. The 15,000-square-foot building was originally developed and occupied by Osco Drugs until the company was acquired by CVS/pharmacy. A developer working with Goodwill acquired the building and retrofitted it for Goodwill Industries. Barry Silver of The Silver Group represented the seller in the transaction. The buyer was a Canadian family trust.
LAKE BLUFF, ILL. — Deer Valley Luxury Apartment Homes, a 224-unit apartment community in Lake Bluff, is for sale. Prime Property Investors acquired Deer Valley in 2011 and extensively rehabbed the property. Lake Forest, Ill.-based Residential Homes of America developed Deer Valley in 1991. The property comprises 13 buildings and 297 parking spaces. Amenities include a fitness center, outdoor pool and a 2,500-square-foot clubhouse. Deer Valley is located at 30011 N. Waukegan Rd.