MINNEAPOLIS — Opus Development Corp. has announced several new retailers that will join Stadium Village, an apartment and retail complex near the University of Minnesota's East Bank campus. The tenants are CVS/pharmacy, Noodles & Co. and Dino's Gyros. CVS/pharmacy has signed a lease for 14,800 square feet, making it the largest pharmacy on campus. Noodles & Co. will take 2,350 square feet and Dino's Gyros will occupy 2,000 square feet. Each of the retailers is expected to open in August. The new lease deals bring the retail space at Stadium Village to full occupancy.
CHICAGO — Online payment provider Braintree has signed a 5-year lease for 26,350 square feet of office space at River Center, located at 111 N. Canal St. in Chicago. The landlord, River Center LLC, was represented in-house by Fred Friedman and Ben Torchman in the transaction. Henry Lee of Jones Lang LaSalle represented the tenant.
There is substantial industrial development occurring in the Cincinnati market on a non-speculative basis, with three projects in various stages of completion. Foreign capital and the need for a French firm and a Japanese company to have a significant American manufacturing and distribution presence have spurred two of the developments. Usui International Corp., a Japanese automotive/engine components maker of fuel injection systems for Ford, Honda and Toyota, has nearly completed a 90,000-square-foot, heavy industrial facility in the Cincinnati suburb of Sharonville, just north of downtown. Usui toured the region for nearly a year before selecting the Sharonville site and purchased approximately 12 acres. Cincinnati Commercial Contracting is the developer of the build-to-suit project, which Usui will own. The project is scheduled for completion in the second quarter of this year. The Usui deal reflects a trend among Japanese auto companies of building facilities in North America for several reasons: Japan’s energy infrastructure is aging and its production capacity is limited, particularly with the closure of its nuclear generators; the high value of the yen versus the U.S. dollar has increased the price of Japanese-made products; a need to minimize logistics and shipping time and costs by switching much of Japan’s …
MINNEAPOLIS — Hyatt Regency Minneapolis has completed a $25 million renovation of the hotel's guest rooms, public areas and restaurants. A joint venture between affiliates Starwood Capital Group, Haberhill and Hyatt Hotels funded and conducted the renovations. Construction included the new Prairie Kitchen & Bar, a 5,500-square-foot restaurant specializing in locally grown and seasonal food. The project also included adding new furniture to the guest rooms, including leather chairs and walnut desks, and remodeling the bathrooms. New York-based Stonehill & Taylor was responsible for the architecture and interior design.
MARION, OHIO – The 426,905-square-foot Marion Towne Centre was sold to a private investment group for an undisclosed amount. Ben Wineman of Mid-America Real Estate and Select Strategies Realty’s Mike Paolucci and Hunter Whitten represented the seller, a lender, in the transaction. The buyer was self-represented. The single-story, enclosed regional mall is located 50 miles north of Columbus.
ELMHURST, ILL. – Nth Degree has inked a lease renewal for 3,696 square feet of flex space at the Elmhurst Metro Court in Elmhurst. Elmhurst Metro Court is a seven-building office/industrial campus. Carrie Wagener represented the landlord, Denholtz Associates, in the transaction. Nth Degree, a global marketing company, has 21 North American offices.
COLUMBUS, OHIO — NuGrowth Solutions has signed a lease for 16,930 square feet of office space at Arlingate Plaza, located at 4181 Arlingate Plaza in Columbus. Doug Falor of Cassidy Turley represented the landlord, Time Equities, in the transaction.
AURORA, ILL. — Duke Realty Corp. has purchased a 257,542-square-foot industrial facility at 940 N. Enterprise St. in Aurora for a reported $9.5 million. Brighton Best International, a distributor of fasteners screws and bolts, has signed a long-term lease for the entire building and will relocate its operations to the facility later this year. Built in 1998, the building includes 36 truck docks and four drive-in doors. David Bercu of Colliers International represented the seller, PanCal, 940 Enterprise LLC. Brian Colson and Eric Fisher of NAI Hiffman represented Duke Realty.
EAGAN, MINN. — Murphy Warehouse Co. has purchased a 350,000-square-foot warehouse facility at 905 Yankee Doodle Road in Eagan for $6.55 million. 99 Cents Only Stores was the seller. The property has been on the market since 2005 and terms of the deal were not disclosed. Murphy Warehouse owns 11 facilities in the Twin Cities, and the new Eagan logistics facility will serve customers in the food, medical, retail, paper and home construction industries. The new owners plan to invest $3 million in facility upgrades, including several sustainable features.
GARRETT, IND. — Bell Equipment Services has purchased a 14,420-square-foot industrial building in Garrett. The property is situated on 4.6 acres at 2431 Forrest Park Dr. Tyler Binkley of NAI Harding Dahm represented the seller, Multiple Trusts – Bertsch, in the transaction. He also represented the buyer.