BALLWIN, MO. — Fairview Heights, Ill.-based IMPACT Strategies has completed the renovation and build-out of a $6 million, 50,000-square-foot West County Nissan dealership, located on Manchester Road in Ballwin. The owners moved the dealership from Ellisville to the new location.
Midwest
NEW LENOX, ILL. — NexCore Group has selected Reed Construction to build 60,000 square feet of medical offices at the Silver Cross Medical Services Building, located at 1890 Silver Cross Blvd. in New Lenox. The construction includes the build-out of 22 individual medical office suites on three floors. RTKL will provide architectural services.
PORTAGE, IND. — Austria-based Fronius USA has acquired the 399,500-square-foot The Randolph, an industrial facility located at 1575 Louis Sullivan Dr. in Portage, for an undisclosed price. The building will serve as the company's North American headquarters starting in the third quarter of 2012. Chris Gary of NAI Hiffman's Oakbrook Terrace, Ill., office represented Lincoln National Life Insurance Co., the seller, in the transaction. Jason West of Cushman & Wakefield's Rosemont, Ill., office represented the buyer.
OTTAWA, ILL. — Oakbrook, Ill.-based Inland Western Retail Real Estate Trust has sold the 1 million-square-foot PetSmart distribution center, located at 910 E. Stevenson Rd. in Ottawa, to an undisclosed buyer for $48 million. Broker information was undisclosed.
CHICAGO — Chicago-based Paine/Wetzel – ONCOR International has negotiated the sale of a 168,350-square-foot industrial building at the Stockyards Industrial Park, located at 4130 S. Morgan St. in Chicago, to Key Foods Services. Brad Weiner of Paine/Wetzel – ONCOR and George Maragos of CB Richard Ellis' Chicago office represented the seller, Morse Automotive, in the transaction. Sally Macoicz of Cushman & Wakefield's Chicago Downtown office represented the buyer.
CLEVELAND — Grubb & Ellis has arranged the $2.67 million purchase of a 92,500-square-foot industrial building located at 15825 Industrial Pkwy. in Cleveland. National Safety Apparel will occupy the facility. Terry Coyne of Grubb & Ellis' Cleveland office represented Sottile Investments, the buyer, in the transaction.
CHICAGO — Cincinnati-based Fifth Third Bank has renewed and expanded its lease at a 1.1 million-square-foot office building, located at 222 S. Riverside Plaza in Chicago. The company now occupies 218,135 square feet, including retail space on the first floor of the building and office space on the 29-34th floors. Behringer Harvard owns the property. Cal Wessman, Kevin Rogers and Brad Serot of CB Richard Ellis' Chicago office represented the tenant in the lease transaction.
PERRYSBURG, OHIO — Chrysler Group has plans to invest $72 million in its more than 1.2 million-square-foot Toledo Machining Plant in Perrysburg to produce new generation front-wheel and rear-wheel drive torque converters and steering columns. The investment will fund the installation of new equipment and special tooling to modernize and enhance the plant's capability. Construction is expected to begin in the third quarter of 2011 with completion slated for the first quarter of 2013.
CLEVELAND AND CANTON, OHIO, AND INDIANAPOLIS — Steve Hryszko of CB Richard Ellis' Self-Storage Advisory Group's Cleveland office has negotiated the sale of a self-storage portfolio, containing five properties in Canton, five properties in Cleveland and eight properties in Indianapolis, in an off-market transaction. The facilities total 7,870 storage units. Hryszko represented the buyer, a joint venture between Flagship Investment Group and Kayne Anderson Real Estate Advisors. The seller was U Store It Self-Storage Facilities.
MILWAUKEE — Wangard Partners has broken ground on the 68-unit 1910 On Water, a luxury apartment community located at 1910 N. Water St. in Milwaukee. St. Paul, Minn.-based Oak Grove Capital arranged a loan through HUD for the development. Amenities will include a green roof courtyard, fitness center, bike storage, concierge services and more. Completion is slated for the summer of 2012.