Midwest

MAKE-A-WISH ILLINOIS RENEWS LEASE, EXPANDS OFFICE BUILDING IN CHICAGO

by admin February 14, 2013

CHICAGO — Make-A-Wish Illinois, the nonprofit organization that grants the wishes of children with life-threatening illnesses, is renewing and expanding its lease at 640 N. LaSalle St. The nonprofit will expand its office space by 80 percent to 10,787 square feet. The deal will bring the overall occupancy rate in the seven-story building to more than 90 percent. Make-A-Wish has been tenant in the building since 1988, when it leased approximately 995 square feet. Melissa Rubenstein and Brian Atkinson of Jones Lang LaSalle represented the building’s owner, MAC Management Co. Inc. Connor Kerr and Lisa Konieczka of CBRE represented Make-A-Wish in the deal.

February 14, 2013

HFF SECURES $9.2M FINANCING FOR COLLINS ROAD SQUARE IN CEDAR RAPIDS

by admin February 13, 2013

CEDAR RAPIDS, IOWA — Chicago-based HFF has arranged a $9.2 million loan for Collins Road Square, a 168,104-square-foot retail center in suburban Cedar Rapids, Iowa. HFF worked on behalf of Alex Brown Realty Inc. to secure the three-year, interest-only financing through Resource Capital Corp. (NYSE:RSO), a commercial mortgage REIT. Proceeds from the loan were used in part to refinance existing debt on the property. Collins Road Square is located at 1400 Twixt Town Road across from Lindale Mall. Renovated in 2011, the property is 79 percent leased and is anchored by Michaels.

February 13, 2013

Midwest Retail

BARRY GELLER MORTGAGE SELLS PICK 'N SAVE BUILDING IN SAUKVILLE FOR $6.5M

by admin February 13, 2013

SAUKVILLE, WIS. — Barry Geller Mortgage & Investments has sold a 59,000-square-foot retail building occupied by Pick’n Save in Saukville for $6.5 million. The buyer is Fairfield, N.J.-based Executive Capital Group. The triple-net-lease store is located at 810 E. Green Bay Ave. in Saukville. The Milwaukee-based Redmond Co. completed construction of the store in 2004.

February 13, 2013

Industrial Midwest

CLICK SHIP COMMERCE LEASES 25,850 SF OF INDUSTRIAL SPACE IN INDIANAPOLIS

by admin February 13, 2013

INDIANAPOLIS — Click Ship Commerce has signed a lease for 25,850 square feet of industrial space at Hillsdale Business Park, the largest industrial park in Indianapolis, located at 770 N. Shadeland Ave. Jones Lang LaSalle represented Click Ship Commerce and the landlord, Hillsdale Property Co. LLC, in the deal. The firm is moving from 15268 Herriman Blvd. in Nobesville, Ind. Click Ship Commerce is an e-commerce company that operates multiple websites selling consumer products.

February 13, 2013

Midwest Office

AUTISM SOCIETY LEASES 5,800 SF OF OFFICE SPACE IN WAUWATOSA, WIS.

by admin February 13, 2013

WAUWATOSA, WIS. — The Autism Society of Southeastern Wisconsin has leased 5,800 square feet of office space in Wauwatosa. The single-story building is located at 3720 N. 124th St. Stephen Provancher and Tim Janusz of NAI MLG Commercial represented the landlord, KL 124th Partners LLC, in the deal. The Autism Society provides awareness and educational resources for people with various forms of autism, their families and professionals.

February 13, 2013

Midwest Multifamily

HFF CLOSES $101M SALE, FINANCING LOAN FOR MSU HOUSING

by admin February 12, 2013

EAST LANSING, MICH. — Chicago-based HFF has closed on the $101 million sale of an off-campus, three-property student housing portfolio serving Michigan State University in East Lansing. The 852-unit, 2,772-bed student housing property has an average occupancy of 96 percent. Properties in the portfolio include The Club at Chandler Crossing located at 3850 Coleman Road; The Village at Chandler Crossings located at 3839 Hunsaker St.; and The Landings at Chandler Crossings located at 16789 Chandler Road. HFF also arranged the financing. The long-term, fixed-rate $85 million loan is with a CMBS lender on behalf of the buyer, Westpac Investments. HFF represented the seller, Boston-based Long Wharf Real Estate Partners LLC, in the deal.

February 12, 2013

Midwest Retail

OLD TIME POTTERY LEASES 78,271 SF IN WEST CHICAGO

by admin February 12, 2013

CHICAGO — Inland Real Estate Corp. has signed Old Time Pottery to a lease for a 78,271-square-foot store at the Mosaic Crossing shopping center in West Chicago. The store, which is expected to open this summer, will be the retailer’s third location in metro Chicago. The Mosaic Crossing shopping center is located at the intersection of Route 64 and 59 and is anchored by Dollar Tree and Hobby Lobby. Old Time Pottery is leasing 100 percent of Inland’s stake in Mosaic Crossing.

February 12, 2013

Midwest Office

DUKE REALTY LEASES 72,500 SF AT LAUMEIER OFFICE PARK IN ST. LOUIS

by admin February 12, 2013

ST. LOUIS — Duke Realty Corp. has closed on two leases totaling 72,503 square feet in Class A office properties in Laumeier Office Park in St. Louis. The transactions include a 30,927-square-foot expansion by Panera Bread in Laumeier I, which brings the 116,277-square-foot building to fully occupancy. The second lease with New Balance Athletic Shoe Inc. is for 41,576 square feet in Laumeier II. Duke Realty owns and manages approximately 290,000 square feet in three Class A office buildings in Laumeier Office Park located at 3660 S. Geyer Road.

February 12, 2013

Healthcare Midwest

MOLINA HEALTHCARE TO OCCUPY 37,127 SF OF OFFICE SPACE IN OAK BROOK, ILL.

by admin February 12, 2013

OAK BROOK, ILL. — Molina Healthcare has reached an agreement with owner The Davis Cos. to occupy 37,127 square feet of office space at The Crossings, a 303,510-square-foot office building. A Fortune 500 Company, Molina Healthcare provides quality healthcare to financially vulnerable individuals and families. Davis Cos. has invested $6.2 million in renovations of the building during the last three years. The Crossings was 93 percent leased at the time of sale, up 30 percent from 2010. Dan O’Neill of NAI Hiffman represented The Davis Cos. Charlie Copelan of McKinney Advisory Group of San Francisco represented Molina Healthcare in the deal.

February 12, 2013

Midwest Multifamily

$198M K2 APARTMENTS OPENS IN CHICAGO

by admin February 11, 2013

CHICAGO — Fifield Cos. and national developer Wood Partners have received a partial certificate of occupancy for the $198 million K2, a 496-unit luxury apartment building in Chicago’s River West neighborhood. The certificate of occupancy is valid for the basement through the seventh floor of the 34-story apartment tower, and the first move-ins will take place March 1. Residences at K2 include studio, one-, two- and three-bedroom apartments. Interiors feature nine-foot ceilings, stainless steel appliances, granite counter tops and plank flooring. Rents range from $1,650 for a studio to $6,500 for a three-bedroom, three-bath penthouse. Locally based Fifield partnered with Wood Partners to break ground on K2 in October 2011. Construction for the entire building is nearly complete and leasing has begun.

February 11, 2013

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