FORT WAYNE, IND. — Paragon Fitness LLC has signed a lease expansion for 1,539 square feet at its CrossFit Training facility at 829 Lawrence Dr. in Fort Wayne. John Caffray of NAI Harding Dahm represented Paragon in the transaction.
Midwest
CHICAGO — CIM Group has acquired Block 37, a five-story retail center on the State Street corridor in Chicago's Central Loop, for an undisclosed amount. The 275,000-square-foot retail center is located directly across the street from Macy's State Street, the second largest department store in the nation. Tenants include Anthropologie, Sephora, Disney and Zara. The retail center is approximately 30 percent leased and CIM plans to lease the balance of the building to national and local retailers.
OAKBROOK TERRACE, ILL. — Kemper Corp., a national financial services provider, has signed a 30,462-square-foot office lease renewal at Oakbrook Terrace Tower in Oakbrook Terrace. Andrea Van Gelder, Diana Riekse and Kellen Monti of Jones Lang LaSalle's Chicago office represented the tenant in the transaction. Bruce Renwick, also of firm's Chicago office, represented the building owner, Arden Realty Inc.
NORTH OLMSTED, OHIO —NorthMarq has arranged $14.2 million in first mortgage refinancing for Butternut Ridge Apartments, a 261-unit multifamily property in North Olmsted. Sue Blumberg of NorthMarq's Chicago office arranged the loan for the borrower, JVM Butternut Apartments LLC, through Freddie Mac. The 7-year loan has a 30-year amortization schedule.
ST. PAUL, MINN. — Felcor Lodging Trust has agreed to sell six hotels for $103 million to an undisclosed buyer. The portfolio consists of 1,527 rooms, including the Embassy Suites in St. Paul and Boca Raton, Fla. The acquisition also includes the Holiday Inn San Antonio-Airport, the Sheraton Suites Ft. Lauderdale-Cypress Creek and Doubletree Guest Suite hotels in Raleigh/Durham and Tampa. The deal is expected to close in the second quarter.
CHICAGO — Summit Design + Build LLC has been selected as the general contractor for American Society for Surgery of the Hand's (ASSH) new corporate headquarters. The facility will be located at 822 W. Washington Blvd. in Chicago. Crews will reconstruct an existing, 30,000-square-foot office and warehouse structure and install a new elevator, stair systems and plumbing. ASSH will occupy the entire second floor, while the first floor will contain loft-style office space. The ASSH build-out will include private offices, a conference room and a yoga room. MRSA Architects and Planners is designing the project, which is scheduled for completion in the second quarter of this year.
LENEXA, KAN. — Maxus Realty Trust has purchased the Rosehill Pointe Apartments for $28.7 million in Lenexa, a suburb south of Kansas City. Constructed in 1985, the 498-unit complex is located along West 87th Street. Jeff Stingley of CBRE's Kansas City office represented the seller, New York-based CLK Multi-Family and an affiliate of Houlihan Parnes Realtors LLC, in the transaction.
CHICAGO — New York-based Samson Management has sold 2778 N. Milwaukee in Chicago for $2.4 million to an undisclosed buyer. The 42,000-square-foot, mixed-use property is occupied by Gap Outlet on the ground floor. The retailer recently renewed its 12,000-square-foot lease for another five years. The remaining storefront is leased to a currency exchange on a year-to-year basis. The buyer plans to redevelop the vacant top three floors into rental apartments. Michael Bennet of Newmark Knight Frank represented the seller in the deal. Matt Welke of Essex Realty represented the buyer.
CHESTERFIELD, MO. —Taubman Centers Inc. has broken ground on Taubman Prestige Outlets Chesterfield, located in the western St. Louis suburb of Chesterfield. The open-air shopping center will include 450,000 square feet of retail with more than 100 stores. In a statement, Taubman said demand has been positive and it has firm commitments from most major retailers. The company expects the project will generate 750 construction jobs and employ about 1,200 people when the mall opens. The center will include a mix of high-end, fashion-focused designer outlets, popular favorites and a food court. The mall is scheduled to open in the fall of 2013.
LAWRENCE, KAN. — Greystar Student Living has been selected to manage Naismith Hall, a 503-bed student housing complex adjacent to the Unviersity of Kansas' south campus. The privately owned hall was built in 1965 and offers furnished private and semi-private suites. Weekly housekeeping and unlimited meals are included in the price of rent. Amenities include a business center, study and meeting rooms, a movie theater, game room, convenience store, tanning bad and high-speed wireless Internet in the common areas and study rooms.