CHICAGO — Hotel Indigo, InterContinental Hotels Group’s upscale boutique brand, has plans for a third hotel in the Chicago market. The hotel, which will be located in the historic downtown area’s Atlantic Bank Building, is expected to open in spring 2014. The Hotel Indigo Chicago-Millenium Park hotel, located at 168 N. Michigan Ave. in Chicago, will undergo an estimated $20 million renovation by the ownership. The hotel will occupy a 101-year-old building that first opened in 1912 as the Federal Life Building. The 156-room hotel will feature design elements that reflect its local neighborhood just north of Millennium Park within Chicago’s central business district.
LADUE, MO. — The Women’s Exchange, a nonprofit organization, has signed a 10-year, 6,000-square-foot lease at Colonial Marketplace in Ladue, a western suburb of St. Louis. The organization is moving from a 4,000-square-foot location, located at 9214 Clayton Road, into the new space June 2013, when Colonial Marketplace opens. Jeff Altvater of Hilliker Corp. represented The Women’s Exchange, which will spend $500,000 to build out its space, in the transaction. The Women’s Exchange is a marketplace for women to earn a livelihood through the sale of their handmade goods. The DESCO Group and Idea Architects will renovate the store.
ST. LOUIS — McGrath & Associates has completed the renovation of an existing radiology room at Saint Louis University Hospital in St. Louis into an advanced radiology suite featuring a Siemens Artis Zeego angiography system. As part of the renovation, McGrath added structural steel support beams under the existing first-floor slab to provide support for the Zeego robotic arm equipment. The project also required sheet lead radiation shielding. The room finishes included seamless vinyl flooring with a FlashCove base and sheet wall protection. BSA Lifestructures Inc. was the architect. The project price was undisclosed.
CHICAGO — The Marquette Cos. has broken ground on Catalyst, a 22-story apartment building located at 630 W. Washington in Chicago’s West Loop. The development is a joint venture with El Paso, Texas-based Hunt Cos. and New York-based Kayne Anderson Real Estate Advisors. Designed by architect Brininstool + Lynch, Catalyst will include 223 apartment homes with studio, one-, two- and three-bedroom plans. The street level of Catalyst will include a 13,000-square-foot Walgreens. The property will also include approximately 175 parking spaces. Lend Lease is serving as general contractor. Leasing is expected to begin in early 2014 with units delivering in summer 2014.
ANN ARBOR, MICH. — Philanthropist Charles T. Munger has pledged a $110 million gift of securities to the University of Michigan to be used to build graduate housing. The 370,000-square-foot, eight-story building will be located on Central Campus on the north side of East Madison Street between South Division and Thompson streets. The anticipated opening date is 2015. Out of the total gift, $100 million will go toward the new facility, which will cost approximately $185 million. The remainder will be funded by lease revenue.
EAU CLAIRE, WIS. — Marcus & Millichap Real Estate has arranged the sale of Southpoint Shopping Center, a 15,183-square-foot retail property located in Eau Claire, for $2.8 million. Jason Ladner and Jeff Rowlett of Marcus & Millichap’s Milwaukee office marketed the property on behalf of the seller, a private Milwaukee-based investor and secured the buyer, a private Idaho-based investor. Southpoint Shopping Center is located at 2901-2917 Mall Drive and is shadow-anchored by Festival Foods, which recently signed an 18-year lease. Other tenants include Famous Dave’s, Northwestern Bank, Little Caesar’s, Clearwater Chiropractic, Scottrade Inc. and Weight Watchers. Southpoint Shopping Center was fully occupied at the time of sale.
CLEVELAND, OHIO — KeyCorp has signed a 15-year lease extension for 487,000 square feet at Key Tower in Cleveland. The new lease begins July 1, 2015, and extends through June 2030. Columbia Property Trust has owned the 57-story Class-A office tower since December 2005. The 1.3 million-square-foot property has served as the headquarters of KeyCorp., the holding company for KeyBank, since the tower’s construction in 1991.
MISHAWAKA, IND. — Birmingham, Ala.-based Sanders Trust has purchased a 46,000-square-foot rehabilitation hospital in Mishawaka, an eastern suburb of South Bend, for $17 million. The 40-bed Saint Joseph Rehabilitation Institute provides services to patients of the Saint Joseph Regional Medical Center, South Bend Orthopedics and other providers, Trinity Health, one of the largest health care systems in the country, runs the medical center.
JOLIET, ILL. — Lee & Associates of Illinois LLC has arranged a 150,560-square-foot industrial lease for Touchpoint Logistics at 4001 Rock Creek Road in Joliet, about 40 miles southwest of Chicago. Touchpoint Logistics is a third-party warehouse company that provides distribution, warehousing and order fulfillment outsourcing for companies. NAI Hiffman represented building ownership, TA Associates Realty, in the transaction.
CHICAGO — Global research firm Mintel has moved into its 30,000-square-foot North American headquarters on the 11th floor of 333 W. Wacker in Chicago. The office serves as a flexible workplace for employees and clients of the market research and intelligence firm. Griskelis Young Harrell designed the space and Leopardo Cos. constructed it. The office space includes open bench desks with 215 workstations, eight conference rooms and no private offices.