COLUMBUS, OHIO — Wilks Broadcasting has signed a 10-year lease for 10,600 square feet of office space at 2400 Corporate Exchange Dr. in Columbus. The company is national owner and operator of more than 21 radio stations including Q-FM 96 in Columbus. Christopher Potts and Benjamin Johnson of Colliers International represented the owner, Corex Partners, in the transaction. Andy Dutcher and Matt Gregory of NAI – Ohio Equities represented the tenant.
GREEN BAY, WIS. — Greg Maloney of Jones Lang LaSalle has been appointed receiver of the East Town Mall, a 198,000-square-foot shopping center in Green Bay. Under Maloney's leadership, Jones Lang LaSalle's retail leasing and management team has assumed immediate oversight of the mall and is working to stabilize the asset. The East Town Mall was built in 1982 and has been remodeled three times over the years. Anchor tenants include Hobby Lobby, Petco and Fashion Bug. The mall will remain open. As receiver, Maloney will control and direct the asset until a resolution between the lender and borrower is achieved.
CHICAGO — Kohlberg Kravis Roberts & Co. in partnership with YTC Retail, has purchased the Yorktown Center Mall for $196 million from a consortium of individuals, including Bob Long, son-in-law of Ed Pehrson, the developer who built the mall in 1968. The 1.5 million-square-foot mall is in Lombard, about 20 miles from Chicago. Tenants include The Capital Grille restaurant, AMC Theatres, Gap and JC Penney. YTC Pacific, a partnership between Pacific Retail Capital Partners, Collarmele Partners and Peter Fair will manage the day-to-day operations of Yorktown. The group is also a co-investor. Upgrades are planned, including lighting, signage, food court and entrance improvements.
ROMEOVILLE, ILL. — Berkadia Commercial Mortgage has arranged a $36.8 million loan for the refinancing of HighPoint Community Apartments, a 389,900-square-foot complex in Romeoville. Len Deering, Paul Matusiak and Tom Sigrist of Berkadia's Chicago office arranged the 35-year loan through the U.S. Department of Housing and Urban Development's 223(f) program. Highpoint includes one- and two-bedroom apartments and is currently 94 percent leased. The fixed-rate loan has a 35-year amortization schedule.
MUNCIE, IND. — Ball State is finalizing a construction project the university hopes will spur business growth and development in The Village, a retail and residential district on the southeast corner of campus. McKinley Commons will be a living-learning facility operated by the university for students in the hospitality and food management program. It is expected to include two restaurants, a student-run sales area, large and small meeting rooms and a lodging facility with approximately 100 rooms that will replace the university's current hotel in the L.A. Pittenger Student Center.
MILWAUKEE — Milwaukee-based Zilber Ltd. has acquired four industrial buildings in Wisconsin from Clarion Partners for $29 million. The deals total more than 606,900 square feet and the properties are located in Glendale, Oak Creek and Pleasant Prairie, Wis. Tom Shepherd and Mike Fardy of Inland Cos. represented the seller in the deal.
ORLAND PARK, ILL. — Indianapolis developer Flaherty & Collins has broken ground on a 295-unit apartment complex in Orland Park, which is slated for completion in the spring of 2013. The project is part of a multi-phase Main Street triangle development, which will include retail and residential properties. The Village of Orland Park owns the 32-acre parcel, which is bound by La Grange Road on the east, 143rd Street on the south and the Metra Southwest Line on the west. The Village Board of Orland Park recently selected Chicago-based HSA Commercial Real Estate as its development consultant for the project.
AURORA, ILL. — Liberty Property Trust has completed two significant lease transactions, bringing the Liberty Business Center in Aurora to full occupancy. International Paper/xpedx has signed a lease for 316,000 square feet. The company will relocate from its facility in Glendale Heights to the new space this summer, when a fit-out is complete. George Pappas of Hartford Associates represented the tenant in the transactions. In addition, Rockpoint Logistics has added 72,269 square feet to its lease, bringing its total space to 291,552 square feet. David Friedland of Newmark Knight Frank/Epic represented the tenant in the deal. Jim Estes, Jeff Kapcheck and Mark Bell of Colliers International represented Liberty in both transactions.
NORTHFIELD, ILL. — Marcus & Millichap has arranged the $1.7 million sale of Northpointe II Office Center in Northfield. Built 1996, the office center is located off the Edens Expressway at 465 Central Rd. and is fully leased. Frank Roti of Marcus & Millichap's Chicago office represented the seller. Charlie Pick of National Realty Network represented the buyer.
COLUMBIA, ILL. — TMMPRO LLC has sold a 25,200-square-foot apartment building in Columbia, about 12 miles south of St. Louis, for an undisclosed amount. The 36-unit property is located at 109 Hawthorne Place. BARBERMurphey Group represented the buyer, Anthony and Susan Hanlin, in the transaction. They also represented the seller.