Midwest

150 HARVESTER IN BURR RIDGE, ILL. LANDS TWO LARGE TENANTS

by admin February 27, 2013

BURR RIDGE, ILL. — Mars Equities Inc. has signed two new tenants to 150 Harvester Drive, a 107,714-square-foot office building in Burr Ridge. Brookfield Global Relocation will occupy 29,861 square feet of office space within the multi-story Class A building that is part of Estancia Corporate Centre. Additionally, law firm Codilis & Associates signed a sublease from Insure One for 38,341 square feet within the same building. Jim Adler and Dan O’Neill of NAI Hiffman represented Mars Equities in the new lease. Kevin Rogers and Peter Quinn of CBRE represented Brookfield Global Relocation.

February 27, 2013

INDUSTRIAL BUILDING SELLS FOR $380,000 IN JANESVILLE, WIS.

by admin February 27, 2013

JANESVILLE, WIS. — Naturescape, a Midwest-based lawn care and treatment company, has purchased a 7,500-square-foot industrial building from T & D Builders for $380,000. The property, which is located at 4051 Commercial Drive in Janesville, includes 15 self-storage units. Maximilian Yokosh of Cassidy Turley Barry represented Naturescape in the deal. Bill Mears of Coldwell Banker represented T & D Builders.

February 27, 2013

Midwest Multifamily

OAK GROVE CAPITAL CLOSES FOUR LOANS TOTALING $56.8 IN MINNESOTA

by admin February 26, 2013

ST. PAUL, WHITE BEAR LAKE, MAPLE GROVE AND WOODBURY, MINN. — Oak Grove Capital has closed four loans totaling $56.8 million for affordable and market-rate multifamily properties in Minnesota. The loans include: $4.9 million HUD/GNMA 223(a)(7) refinancingfor Afton View Apartments in St. Paul; $5.9 million HUD/GNMA 223(a)(7) refinancingfor Lakewood Place Apartments in White Bear Lake; $20 million HUD/GNMA 223(a)(7) refinancingfor Mallard Ridge Apartments in Maple Grove; and $26.5 HUD/GNMA 223(a)(7) loan for Woodlane Place Townhomes in Woodbury.

February 26, 2013

Midwest Office

PAVILION OFFICE BUILDING SELLS FOR $3.2M IN METRO CLEVELAND

by admin February 26, 2013

BEACHWOOD, OHIO — The Pavilion Office Building, a 42,598-square-foot property, has sold to a private investor for $3.2 million. The property, located at 24100 Chagrin Blvd. in the metro Cleveland area, sold at 96 percent of the original listing price. Cooper Commercial Investment Group represented the buyer and seller, a private group based out of Beachwood, in the deal.

February 26, 2013

Midwest Multifamily

TGM ASSOCIATES ACQUIRES 712-UNIT MULTIFAMILY COMMUNITY IN ILLINOIS

by admin February 26, 2013

WILLOWBROOK, ILL. — TGM Associates has purchased TGM Willowbrook, a 712-unit multifamily property in Willowbrook, located about 20 miles from Chicago. The property is made up of 76 two-and three-story buildings and is located at 6060 Laurel Lane. Amenities at TGM Willowbrook include an athletic club, three heated swimming pools, tennis courts, resident center and fitness trails.

February 26, 2013

Midwest

MCKINLEY FORMS VENTURE PARTNERSHIP WITH AVANATH CAPITAL

by admin February 26, 2013

ANN ARBOR, MICH. — McKinley Inc. and Avanath Capital Management have launched Mckinley-Avanath, a property management venture formed to manage apartment home communities acquired by Irvine, Calif.-based Avanath. The new venture has begun management of two multifamily properties: Gladden Farms, a 220-unit apartment complex located near Indianapolis; and Country Wood, a 180-unit, affordable living community in Naperville, Ill.

February 26, 2013

Midwest Office

MICHAEL BEST & FRIEDERICH RENEWS 89,725 SF LEASE IN MILWAUKEE

by admin February 26, 2013

MILWAUKEE — Michael Best & Friederich LLP has renewed its 89,725-square-foot office lease for five more years in downtown Milwaukee. The office building is located at 100 E. Wisconsin Ave. and is managed by Reit Management & Research LLC. Steve Steinmeyer, Jack Keenan and Dan Jessup of Jones Lang LaSalle represented Michael Best in the deal and Kevin Armstrong and Steve White of CBRE represented the landlord, CommonWealth REIT. Michael Best & Friederich is a broad-based business law firm that has offices in Milwaukee, Madison, Waukesha and Manitowoc, Wis. and Chicago.

February 26, 2013

Midwest Office

PARTNERSHIP ACQUIRES 320,000 SF OF OFFICE SPACE IN DOWNTOWN MINNEAPOLIS

by admin February 25, 2013

MINNEAPOLIS — City Center Realty Partners, in a partnership with Angelo, Gordon & Co., has purchased 320,000 square feet of office space in downtown Minneapolis. The space occupies floors 18-36 of the Plaza Seven, a mixed-use tower located in the Nicollet Mall corridor at 45 S. Seventh St. The acquisition includes the building’s heated underground garage with 315 parking spaces. City Center Real Estate Services, an affiliate of City Center Realty Partners, will manage the new property. Jones Lang LaSalle will serve as the leasing agent for the office space. In addition to the office building, the Plaza Seven tower includes retail and a hotel.

February 25, 2013

Healthcare Midwest

HSA PRIMECARE TO BREAK GROUND ON $10M SURGERY CENTER IN VERNON HILLS, ILL.

by admin February 25, 2013

VERNON HILLS, ILL. — HSA PrimeCare will develop a $10 million surgery center at 240 Center Drive in Vernon Hills, located about 35 miles north of Chicago. HSA is planning to break ground March 1 on the outpatient surgery center, which will include three surgical suites, one procedure room, and 14 recovery stations. The 15,000-square-foot building will be fully leased to Hawthorn Surgical Associates, which is relocating its practice from a facility in nearby Libertyville.

February 25, 2013

Midwest Multifamily

BERNARD FINANCIAL ARRANGES $9.7M LOAN FOR MULTIFAMILY PROPERTY IN MICHIGAN

by admin February 25, 2013

ROSEVILLE, MICH. — Bernard Financial Group has arranged a $9.7 million loan for Kensington Place Townhomes, a 206-unit property in Roseville. The 16-building property is located at 16651 E. 12 Mile Road. The lender was Prudential Huntoon Paige Associates LLC. Dennis Bernard and Neil of Southfield-based Bernard Financial arranged the loan.

February 25, 2013

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