Midwest

OPUS BUILDS FREIGHTQUOTE.COM HEADQUARTERS

by admin September 21, 2012

KANSAS CITY, MO. — Opus Design Build is constructing a new 200,000-square-foot headquarters building for Freightquote.com in Kansas City. The nation's largest online shipping broker, Freightquote is relocating to Kansas City from its current location in Lenexa. The property will be located on a 30-acre site south of St. Joseph Hospital and offer access to Interstate 435. Construction is slated for completion in June 2013. Opus AE Group is the project architect and VanTrust Real Estate is providing development services.

September 21, 2012

TARGET TO OPEN NEW STORE IN EAST PEORIA

by admin September 21, 2012

EAST PEORIA, ILL. — Target is opening a 135,000-square-foot store in East Peoria in March 2013. The store, located at Clock Tower Drive and West Washington Street, will be part of the 86-acre East Peoria Downtown development. The store will feature a fresh produce section, a Starbucks and a Target Pharmacy. The company plans to hire 150 to 200 employees.

September 21, 2012

Civic Midwest

ST. PAUL LUTHERAN ACQUIRES AURORA FACILITY

by admin September 21, 2012

AURORA, ILL. — St. Paul Lutheran Church and School has acquired a 64,064-square-foot building at 85 Constitution Drive in Aurora. The single-story facility is situated on 9.3 acres. Michael Meksto and Jim Tsevis of NAI Hiffman represented C-III in the transaction. Mary Bargielski of Prime 1 Realty represented the buyer.

September 21, 2012

Midwest

BALFOUR TO DEVELOP LAKE FOREST COLLEGE HOUSING

by admin September 20, 2012

LAKE FOREST, ILL. — Balfour Beatty Campus Solutions has entered into a development agreement with Lake Forest College for a new 233-bed student housing facility. The approximately $15 million project on the college's south campus in Lake Forest also includes demolition of the college's existing Moore Hall student dorm, which was built in 1893. Balfour Beatty has partnered with Solomon Cordwell Buenz as the architect on the project and Walsh Construction as the construction contractor performing demolition and construction work for the new building. Both companies are based in Chicago. The new student housing facility will open in August 2013. The 62,000-square-foot building will feature updated living arrangements that provide expanded social spaces and other enhanced residential options for students living on campus.

September 20, 2012

Hospitality Midwest

ROCKBRIDGE ARRANGES ACQUISITION LOAN FOR MILWAUKEE HOTEL

by admin September 20, 2012

MILWAUKEE — RockBridge has arranged a $7.5 million acquisition loan for the 103-room Best Western Inn Towne Hotel in downtown Milwaukee. The new owner, Magna Hospitality Group, is planning a $6.8 million renovation of the property, which will be rebranded as a Fairfield Inn & Suites by Marriott. Construction is slated to begin this fall. The hotel is located near the Frontier Airlines Convention Center and US Cellular Arena.

September 20, 2012

Midwest Office

STAFFING FIRM TAKES SPACE IN CHICAGO

by admin September 20, 2012

CHICAGO — Staffing firm Creative Circle has signed a lease for 7,128 square feet of office space on the 14th floor of 330 N. Wabash in Chicago. The initial term of the lease spans more than five years and begins March 1, 2013. With the Creative Circle lease, 330 North Wabash is 89 percent leased. The building, which is owned by a joint venture between subsidiaries of Prime Group Realty Trust, is currently undergoing a renovation that include a new fire safety system, restrooms and elevator cab upgrades. Allen Rogoway of Cresa Partners Chicago and Carlo Brignardello of Cresa Partners Los Angeles represented the tenant in the transaction. PGRT was self-represented by Seven Baron.

September 20, 2012

Midwest Multifamily

DOCK STREET APARTMENTS BREAK GROUND IN MINNEAPOLIS

by admin September 19, 2012

MINNEAPOLIS — AFL-CIO Building Investment Trust is breaking ground today on Dock Street Apartments, a new multifamily complex in the North Loop neighborhood of Minneapolis. The six-story complex will be located at 333 North Washington Ave. N. The project will include 185 market-priced rental units, 3,000 square feet of retail space and a two-level parking garage with 190 spaces. The Dock Street Apartments are part of a larger development plan for the area called North Green Loop, and will include future phases of residential, retail and office space.

September 19, 2012

Midwest Retail

FORMER BLOCKBUSTER VIDEO SELLS IN CARY

by admin September 19, 2012

CARY, ILL. — Quantum Real Estate Advisors has arranged the sale of a vacant, 6,520-square-foot former Blockbuster Video property at 536 Northwest Highway in Cary. The property was sold to a local Meineke franchisee for $825,000. Jordan Kaufman of Quantum Real Estate Advisors and Peter Caruso of Mid-America represented the seller, a group of private individuals from California, in the transaction. Ryan Samuelson of Corcoran Commercial Real Estate represented the buyer.

September 19, 2012

Industrial Midwest

NAI HIFFMAN BROKERS THREE INDUSTRIAL DEALS IN ELK GROVE VILLAGE

by admin September 19, 2012

ELK GROVE VILLAGE, ILL. — NAI Hiffman has arranged industrial lease transactions totaling 55,000 square feet in Elk Grove Village. In the largest of the three deals, Rational Cooking renewed its lease for 24,000 square feet at 1645 Greenleaf Ave. At 1485 Greenleaf Ave., Cristall Thread & Supply signed a new lease for 12,000 square feet. The company, a sewing threads and supplies provider, required a larger space and is moving from its former location at 690 Lunt Ave. Joe Bronson of NAI Hiffman represented the landlord, Mirvac, in both transactions. Rob Wheeler of Cresa Partners represented Rational Cooking and Tom Gath of Grubb & Ellis represented Cristall. Additionally, Land Air Express renewed its lease for 19,424 square feet at 2300 Estes Ave. Bronson represented the tenant. Prologis, the landlord, was self-represented.

September 19, 2012

Midwest Office

SYSMEX CORPORATE CENTER BUILDING TRADES FOR $49.7M

by admin September 18, 2012

LINCOLNSHIRE, ILL. — An affiliate of Cole Real Estate Investments has purchased Sysmex Corporate Center, a 162,739-square-foot office property in Lincolnshire, for $49.7 million. The Class A facility is fully occupied and triple-net leased to Sysmex American Inc., for its North and South American headquarters. The company develops and sells clinical laboratory equipment. Jeff Bramson, Jaime Fink and Mark Katz led the HFF team that represented the sellers, Bridge Development Co. and Globe Corp., in the transaction.

September 18, 2012

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