BRIDGEVIEW, ILL. — Chicago-based Weis Builders has completed the renovation of a former DMV office, located at 8342 S. Harlem Ave. in Bridgeview, on behalf of the Polish & Slavic Federal Credit Union. The interior of the office was gutted and renovated, and the exterior branding package included minor sitework and updates to the building's facade.
WORTHINGTON, OHIO — Worthington Square Venture has broken ground for the redevelopment of the 22-acre The Shops at Worthington Place, located at the intersection of High Street and Wilson Bridge Road in Worthington. The property will include a 168,000-square-foot shopping center, three outparcels and a separate 67,000-square-foot Kroger Fresh Fare. Completion is slated for the second quarter of 2012.
SAUK VILLAGE, ILL. — Dermody Properties has been selected to develop a $30 million, 267,000-square-foot build-to-suit industrial facility for Winpak Portion Packaging, to be located at DP LogistiCenter at 1111 Winpak Way in Sauk Village. Completion is slated for the spring of 2012. Justin Fierz and Brian Vanosky of Lee & Associates' Chicago office represented Winpak in the lease negotiations and George Cibula of Elmhurst, Ill.-based Darwin Realty represented DP. Principle Construction is the general contractor for the project.
CHICAGO — Strategic Hotels & Resorts has secured a $145 million loan for the InterContinental Chicago hotel. The financing retires the $121 million loan previously encumbering the property. The loan includes a 10-year term and a 30-year amortization schedule beginning the third year after closing. JPMorgan Chase Bank originated the financing and Eastdil Secured served as placement agent.
RICHMOND, IND. — Quantum Real Estate Advisors has arranged the $4.77 million sale of a 30,983-square-foot, single-tenant Best Buy located in Richmond Village Shopping Center in Richmond. Chad Firsel of Quantum represented the buyer and the seller in the transaction.
WICHITA, KAN. — NorthMarq Capital has secured $3.5 million in financing for the 126-unit Parke East Townhomes in 1000 S. Woodlawn in Wichita. Financing was based on a 5-year term with a 30-year amortization schedule and was arranged through Freddie Mac.
ST. CHARLES, MO. — Hendricks & Partners has closed the sale of the 486-unit Villages of Bogey Hills, located a 2200 Lake Court in St. Charles. Ken Aston and Andrea Kendrick of the firm's St. Louis office represented the seller, RREEF Villages of Bogey Hills, L.P., and procured the buyer, Kansas City, Mo.-based Bogey Hills Acquisition, LLC.
BROOKFIELD AND WAUKESHA, WIS. — Liberty Property Trust has sold four office properties totaling 338,000 square feet of space in suburban Milwaukee. Two properties are located in Brookfield at 15800 Bluemound Rd. and 245 S. Executive Dr.; and two are located in Waukesha at 20700 Swenson Dr. and 20800 Swenson Dr.
GAYLORD, MICH. — The 189,000-square-foot Pine Ridge Square in Gaylord has been purchased by Birmingham, Mich.-based Robert B. Aikens & Associates. Major tenants include Big Lot's, Dunham's, Bath & Body Works, GNC, Maurice's, Hobby Lobby and Payless Shoe Source.
LAFAYETTE, IND. — Marcus & Millichap has arranged the $2.35 million sale of the 32-unit Armory Loft Student Housing Apartments and the 3-unit Griffith Triplex, both located in Lafayette. Scott Harris of the firm's Oak Brook, Ill., office and Colin Atkinson of the firm's Indianapolis office represented the seller, a private investor. Harris procured the buyer, a limited liability company.