SPRING LAKE, MICH. — Three Strands Properties has acquired a 29,671-square-foot retail building in Spring Lake for $360,000. The property is located at 18000 Cove Ave. Bryan Bench of Signature Associates represented the seller, Coastal Real Estate Holdings, in the transaction.
TAYLOR, MICH. — Oakwood Healthcare has signed a lease for 4,400 square feet at 9870 Telegraph Road in Taylor. The company will use the space for a new physical therapy facility. Susan Acciaoli and Adam Goodman of Mid-America Real Estate-Michigan represented the landlord, NW-Taylor Farmer Jack, in the transaction. NAI Farbman represented the tenant.
WYOMING, MINN. — Ryan Cos. has broken ground on a 144,000-square-foot expansion of the Polaris Industries Inc. Product Development Center in Wyoming. The expansion will more than double its existing 126,000-square-foot facility, which Ryan constructed in 2005. The $20 million project is expected to be completed in August 2013. Pope Architects is the project architect. The new space will feature large work bays for off-road vehicles, conference and display spaces and a new electrical lab.
CHICAGO — GE Transportation, a unit of General Electric Co., will move its headquarters from Erie to 500 W. Monroe in Chicago. The company will occupy 53,972 square feet of space on the 23rd and 24th floors at the building. 500 W. Monroe is a 1 million-square-foot office tower in the city's West Loop. Steve Smith, Gary Kostecki and Brad Despot of Jones Lang LaSalle represented the building owner, Piedmont Office Realty Trust, in the transaction. Jeff Samaras of Cushman & Wakefield represented the tenant.
SHAKER HEIGHTS, OHIO — Salon Lofts will join Verizon, Dollar Tree and Advance Auto in the Shaker Town Center in Shaker Heights in the spring of 2013. The salon, which is based in Columbus, will occupy 5,040 square feet in a former Blockbuster space. Steve Passov and Tori Nook of Kowit & Passov Real Estate Group represented the landlord, Equity Investments, in the transaction.
CHICAGO — Aon has signed a 15-year lease for 396,406 square feet of office space at 200 E. Randolph St. in Chicago. After 14 years as a sublease tenant in the 83-story East Loop Tower, the global risk management firm will enter a new direct lease agreement beginning Dec. 2013. Opened in 1972, the Aon Center features a 205-seat auditorium and views of the city and Lake Michigan. Meredith O'Connor of Jones Lang LaSalle and Greg Gerber of Studley represented the tenant in the transaction. Steve Smith and Mike Curran of Jones Lang LaSalle represented the owner, Piedmont Office Realty Trust.
SIOUX CITY, IOWA — 4th Street Centre LLC has acquired the 10-story Terra Centre in downtown Sioux City. Arlene Curry and Ellen Kaplan of NAI LeGrand & Co. represented the seller, CF Industries, in the transaction. CF Industries is an international fertilizer producer, which had purchased the property as part of its multi-million dollar acquisition of Terra Industries.
FRIDLEY, MINN. — Marcus & Millichap has arranged the $1.6 million sale of Oak Hill Apartments, a 34-unit multifamily property in Fridley. Josh Talberg of Marcus & Millichap represented the seller, a private investor. Talberg and Mox Gunderson, also of Marcus & Millichap, represented the buyer, a private investor.
KENT, OHIO — Two new tenants will join The Cascades of Brimfield in Kent this January. Petco has signed a lease for 12,500 square feet of space and Hibbett Sporting Goods will occupy 5,000 square feet of space. The retailers will join tenants such as Kohl's, Lowe's, Marshalls and Dollar Tree. Carla Massara of Kowit & Passov Real Estate Group represented the landlord in both transactions.
O'FALLON, ILL. — Balke Brown Transwestern has opened Parkway Lakeside Apartment Homes on Green Mountain Roade in O'Fallon. The $29 million community consists of 21 two-story buildings containing 232 units. One-site services include car detailing, resident valet and the Posh Pet Spa. Amenities include a saltwater swimming pool and wellness center. Rents range from $945 to $1,800 per month. AFL-CIO Housing Investment Trust financed the project via a $26.1 million FHA-insured construction and permanent mortgage loan.