WEST DUNDEE, ILL. — Opus Development Corp. has been selected to develop and build a 223,488-square-foot, build-to-suit warehouse for Maxzone Vehicle Lighting Corp. in West Dundee. Located on 11.3 acres in the Oakview Corporate Park, the facility will include 3,000 square feet of office space, 20 truck docks and two drive-in doors. Construction will begin this month, with completion slated for the end of this year. Eric Chang of US Asia Investment Group represented Maxzone in the deal. Noel Liston from Darwin Realty and Development Corp. represented The Opus Group.
CHICAGO — Cohen Financial has arranged $8.7 million for the refinancing of two apartment properties in Chicago. The buildings include a 36-unit property at 1166 N. Milwaukee St. and a 24-unit property at 3001 N. Spaulding Ave. Both properties are fully occupied. Michael Widen of Cohen Financial negotiated the 10-year, fixed-rate loans through PNC Real Estate Finance. The borrower is David Ruttenberg of Marc Realty Residential, a local commercial real estate distressed property investor.
OSWEGO, ILL. — Marcus & Millichap has arranged the $4.3 million sale of Meijer Outparcel Retail Center, an 18,651-square-foot retail property at 1500-1550 Douglas Road in Oswego. The center was built in 2007 and is fully occupied. Tenants include Buffalo Wild Wings, Men's Wearhouse and Sprint. John Abuja and Jason St. John of Marcus & Millichap represented the seller, a developer. They also secured the buyer, a private investor.
SIOUX CITY, IOWA — St. Luke's Health System has broken ground on its Sunnybrook area medical campus in Sioux City. Set to open in 2013, the 86,313-square-foot Sunybrook Medical Plaza will serve as a regional hub for healthcare delivery in the tri-state area. Services will include family practice, urgent care, imaging, cardiology and other specialty clinics. The two-story facility will be situated on 16 acres. The project team includes Irgens as development manager; Eppstein Uhen and Cannon Moss Brygger & Associates as architects; and W.A. Klinger as general contractor.
CHICAGO RIDGE, ILL. — Chicago Ridge Mall is set to debut its newly renovated AMC Lowes 6 Theater Aug. 9 and has announced several new tenants that will join the 833,000-square-foot shopping center in Chicago Ridge. Upgrades to the theater include a new lobby, ticket kiosks, concession area and new leather seats. CBL & Associates, which owns and manages the property, has also signed four new tenants to the shopping center: Crazy 8, Old Navy, Kids Foot Locker and Wetzel's Pretzels.
BLOOMINGTON, MINN. — TRIA Orthopaedic Center has signed a lease for 32,400 square feet of space at 3800 American Blvd. West in Bloomington. The building is located next to TRIA's 100,000-square-foot main facility at 8100 Northland Drive. TRIA, the official service provider for professional Minnesota sports teams for more than 25 years, plans to use the new space for the company's administrative, training and physical therapy functions. Gordie Hampson and Jason Butterfield of Cushman & Wakefield/NorthMarq represented the building owner, Metropolitan Life, in the transaction. Dean Williamson of Frauenshuh Commercial Real Estate Group represented TRIA.
COLUMBUS, OHIO — Hackman Capital, an investment firm based in Los Angeles, has purchased a 2.8-million-square-foot industrial portfolio from Schottenstein Property Group. The portfolio contains 45 industrial and flex buildings. Fourty-four of the facilities are located in the Columbus metro area and one is located in Ruther Glen, Va. Hackman will oversee the new assets, along with its Midwest operations, from its Columbus office.
BATTLE CREEK, MICH. — Agracel Inc., an industrial developer, has purchased a 308,730-square-foot distribution building at 2500 Logistics Dr. in Battle Creek. The property is situated on 24 acres and features 26-foot clear ceiling heights, 33 truck docks, one drive-in door and 7,650 square feet of air-conditioned office space. The facility is situated midway between Chicago and Detroit off I-94 in the Fort Cluster Industrial Park. Rob Gemerchak of Binswanger represented the seller, MS Skyline LLC, in the transaction.
BISMARCK, N.D. — TMI Hospitality has opened North Dakota's first Residence Inn by Marriott, located at 3421 N. 14th St. in Bismarck. The 92-room, extended-stay hotel is located minutes from the Kirkwood Mall, the North Dakota State Capital and Bismarck State College. Amenities at the hotel include a full break fast buffet, swimming pool, exercise facility, meeting rooms and outdoor patio with fireplace. TMI owns and operates two other properties in Bismarck, the Fairfield Inn and Suites North and Fairfield Inn and Suites South.
FENTON, MICH. — Panattoni Development Co. has acquired a vacant 534,600-square-foot industrial building in Fenton, located about 17 miles from Flint, Mich., for a reported $9 million. The building at 211-2231 Hitzert Court was constructed by Chrysler in 2000 and designed as a material supply building. The warehouse stored parts used to assemble vehicles at the adjacent Chrysler plant. The property features rail service by Burlington Northern and is located at the I-44 and I-270 arteries. Terry Stieve and Katie Haywood of Jones Lang LaSalle represented the seller in the transaction. Panattoni was self-represented by Mark Branstetter.