CHICAGO — Richwell Enterprises, which specializes in distribution warehousing for the food service industry, signed a lease for 142,000 square feet at the Midway Business Center in Chicago. The property is located at 5363 S. Archer and will serve as a distribution center for one of Richwell's food customers. Matt Rogatz of Chicago Industrial Real Estate represented the tenant in the transaction. Mike Nelson and Mark Nelson of NelsonHill represented the owner.
MINNEAPOLIS — Ryan Cos. and its investment partners have broken ground on a 580,000-square-foot, mixed-use project in downtown Minneapolis. The project, known as 222 Hennepin, will include 286 apartments and will be anchored by a Whole Foods Market, the first in downtown Minneapolis. Ryan's joint-venture partners include an unnamed institutional client of Invesco Real Estate and The Excelsior Group. Construction is slated for completion in 2013. The project is valued at $70 million.
PITTSBURGH, ILL. — Swansea, Ill.-based Holland Construction Services has begun work on the $5.3 million Johnston City High School sports complex in Pittsburgh. The project includes razing the existing football and softball fields. Crews will then add a new concession stand and locker room building, press box, a synthetic surface running track and new artificial turf football field, plus additional elements. FGM Architects is designing the complex, which is scheduled for completion later this summer.
LIVONIA, MICH. — Farmington Hills, Mich.-based Pet Supplies Plus has signed a new lease for 33,000 square feet to relocate its national headquarters to Laurel Office Park in Livonia. Pet Supplies Plus is the third-largest pet specialty retailer in the U.S. with 257 stores in 23 states. The new headquarters will be located at 17197 N. Laurel Park Dr. David Friedman of Friedman Integrated Real Estate Solutions represented the landlord, Laurel Office Park in the transaction. Jeff Cavazos of NAI Farbman represented the tenant.
CHICAGO — The 661,4770-square-foot office building located at 150 N. Michigan Ave. is for sale in Chicago. Bruce Miller, James Postweiler and Nooshin Felsenthal of the Chicago office of Jones Lang LaSalle are marketing the property on behalf of SEB Investment. The property is currently 77 percent leased. In 2011, Crain Communications selected 150 N. Michigan as the new home for its Chicago offices. Crain leased 65,487 square feet and the tower will be renamed the Crain Communications Building when the media company takes occupancy this April.
CHICAGO — McShane Construction has completed the conversion of a former office building to 28 loft apartments at 2800 N. Milwaukee Ave. in Chicago. The 50,560-square-foot Hairpin Lofts includes apartment units on the top four floors, plus a 7,000-square-foot community center on the second floor. The ground floor features 9,000 square feet of retail space. McShane began reconfiguring the former Morris B. Sachs building in mid-2010. Crews restored the existing facade that dates back to 1930 and refinished the aging marble flooring. The building also includes sustainable features such as a green roof and Energy Star appliances. The project was co-developed by Brinshore Development and Anixer Center.
MACHESNEY PARK, ILL. —Orput Cos. has sold its single-tenant, net leased Advance Auto Parks property, located at 1535 W. Lane Rd. in Machesney Park, for $1.5 million. Orput developed the 6,124-square-foot building in 2011. Advance Auto Parts has 14 years remaining on its lease. The Boulder Group represented Orput in the transaction. SAR Enterprises represented the buyer, a California-based investor.
FORT WAYNE, IND. — Max Fitness has signed a lease for 19,200 square feet at Northbridge Village, located at 1415 W. Dupont Rd. in Fort Wayne. Stanley Phillips of NAI Harding Dahm represented the landlord, Northbrook Development, in the transaction.
CLEVELAND — Forest City Enterprises received the final installment payment of $34 million for its $85 million land and air rights sale to Rock Ohio Caesars Cleveland, for development of a casino in downtown Cleveland. The transaction includes 16 acres of land and related air rights adjacent to Forest City's Tower City Center mixed-use complex. The company received $11 million in cash at closing and additional installment payments of about $40 million during 2011.
DEKALB, ILL. — An investment group controlled by Clayco and Venture One Real Estate, has acquired 350 acres of industrial land at 88 Park in Dekalb, from Citizens First National Bank. The land acquisition was financed by First Midwest Bank. The transaction represented the largest industrial land sale in the Midwest since 2007. Park 88 already contains distribution centers for 3M and Target. The 350 acres includes five pad-ready sites that can accommodate buildings of 162,000 square feet, 171,000 square feet, 418,000 square feet, 570,000 square feet, 587,100 square feet and one shovel-ready site for a 1.7-million-square-foot building.