CHICAGO — Mortenson Construction has upgraded the Great Hall at Chicago's historic Union Station as part of a $25 million infrastructure improvement project. Mortenson replaced or upgraded the mechanical, electrical and plumbing systems in the 87-year-old building, and also installed fire safety equipment. Amtrak, the owner of Union Station, provided the funding while Jones Lang LaSalle managed the project.
COLUMBUS — Morris, Smith & Feyh Inc. has arranged a $16 million first mortgage loan for a newly built office building in Columbus. The 140,000-square-foot building is fully leased to NetJets Inc., the private jet company owned by Berkshire Hathaway. It serves as the company's world headquarters. Jeffrey Morris of Morris, Smith & Feyh's Columbus office originated the 20-year loan for the borrower, The Daimler Group, through a life insurance company. The loan includes a 25-year amortization schedule.
CHICAGO — Brennan Investment Group has purchased a five-building industrial portfolio of surplus corporate warehouse facilities in Chicago from Wisconsin-based Oshkosh Defense. The portfolio totals 149,946 square feet. Brennan has secured a lease for 50 percent of the portfolio from US Glu Lam Inc., a structured wood products distributor. Walter Murphy of Lee & Associates in Chicago represented the seller in the transaction.
FORT WAYNE — Greatbatch Medical has opened a $17.5 million manufacturing center in Fort Wayne. Greatbatch, a subsidiary of Greatbatch Inc., designs and manufactures orthopedic instruments and devices. The facility contains 80,000 square feet. The new center will develop instruments for hip procedures and spine fixation, as well as fracture fixation implants and implementation for orthopedic medical device companies. The company employs more than 100 people in northeast Indiana.
OMAHA — Developers have broken ground on the first Hyatt-branded hotel in Nebraska. An affiliate of the Hyatt Hotels Corp. purchased land in Omaha for the construction of the hotel in February, and the project is expected to total $27 million. Chicago-based DLR Group designed the 10-story Hyatt Place Omaha Downtown/Old Market, which will include 159 rooms. Woodbine Development is overseeing development of the project on behalf of Hyatt affiliates and Hawkins Construction is serving as general contractor. The hotel is slated to open in 2014.
TAYLOR, MICH. — Rouse Properties has secured a $78.8 million mortgage loan for Southland Center, a 900,000-square-foot enclosed mall in Taylor. Anchors at the mall on Eureka Road include Macy's and JC Penney. Recently, retailer Forever 21 signed a lease to take over a former 22,500-square-foot Borders space at the property. The 10-year, non-recourse loan bears interest at a fixed rate of 5.09 percent.
SPRINGFIELD, MO. — The University Plaza Hotel and Convention Center in Springfield plans to launch construction of the hotel's new, on-site day spa this July. The 1,100-square-foot facility will be located on the hotel's main floor and services will include massages, facials and manicures. The spa is scheduled to open this September. The University Plaza Hotel is owned by John Q. Hammonds Hotels & Resorts.
KENOSHA, WIS. — Integrated MerchandisingSystems (IMS) has signed a lease for 312,500 square feet of industrial space at 10100 58th Place in Kenosha. The merchandising service agency is consolidating some of its locations into the new space. The building features 32' clear ceiling height and is located near I-94. Samuel Badger and Brad Weiner of Paine/Wetzel/TCN Worldwide represented IMS in the transaction. Keith Puritz and Ryan Bain of CBRE represented the building owner, LaSalle Investment Management.
BRIDGETON, MO. — Train U.S. Inc. has inked a lease for 33,847 square feet of industrial space at 170 Corporate Woods Court in Bridgeton. Tim Balk and Tom Caskanett of Solon Gershman represented the landlord, Ashby Road Partners IV LLC, in the transaction.
LOCKPORT, ILL. — Bridge Development Partners has acquired 50 acres of land for the development of a new business park in Lockport. The site is midway between 1-55 and 1-80 and includes frontage along 1-355. The space can accommodate up to 1 million square feet of light industrial and distribution space. Bridge plans to break ground on a speculative building in 2013. The land is fully zoned and entitled.
