CHICAGO — Reed Construction has completed a 45,000-square-foot build-out for Westwood College, located at 1 N. State St. in Chicago. The project included the addition of classrooms, computer labs, design labs and staff offices. The new facility also features a career services center, server rooms and student common area. Scott Pickands, Christine Roche and Robert Marks of Reed led the construction team. Atul Karkhanis Architects provided architectural services.
WALKER, ILL. — The Boulder Group has completed the sale of a single-tenant Advance Auto Parts property, located at 4250 Lake Michigan Dr. in Walker, for $1.3 million. Advance Auto Parts has a 15-year lease term at the 7,920-square-foot retail building. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Midwest institutional investor. They also represented the seller, a private Ohio-based company.
ST. LOUIS — Tampa-based Carter Validus Mission Critical REIT has acquired the St. Louis Surgical Center, an ambulatory surgical center in St. Louis, for $8.4 million. The facility is in close proximity to three area hospitals: St. Johns Mercy Medical Center, BJC Missouri Baptist and Barnes Jewish West County Hospital. The surgical center opened in 2005 with nine pre- and post-operating bays and five operating rooms totaling 14,718 square feet. In 2007, the facility expanded by 7,105 square feet with the addition of two operating rooms and nine overnight stay rooms.
WOODLAWN, ILL. — Grandbridge Real Estate Capital has arranged a $27 million first mortgage loan secured by Rutherford Business Park, a 359,937-square-foot office park in Woodlawn. The borrower is a partnership comprised of Chicago-based Blue Vista Capital Management and Baltimore-based CSG Partners. Jim Cope of Grandbridge's Milwaukee office arranged the financing through Kirk Booher of BB&T Real Estate Funding. The interest-only, floating rate loan is for a period of three years.
ITASCA, ILL. — The Marquette Cos. has purchased Two Itasca Place, a 70-unit condominium property in Itasca originally developed by the seller, Bloomingale, Ill.-based Donald E. Morris Enterprises. The five-story property includes an underground, structured parking garage. Marquette plans to convert the property to apartments with financing provided by West Suburban Bank. The first rental units will be available this spring. Two Itasca Place is located at the corner of Rohlwing and Nordic roads.
CHICAGO — Rockford 550 has completed the $2.2 million sale of a 13,980-square-foot medical property, located at 825 W. 35th St. in Chicago. The property is net-leased to Fresenius Medical Care (FMC), which has 11 years remaining on its lease. FMC specializes in kidney dialysis and patient-oriented renal therapy. Ben Rosenfield of Titan Commercial's Chicago office represented Rockford in the transaction. Coldwell Banker represented the buyer, Georgia Tsoutsos.
BLOOMINGTON, MINN. — Grandbridge Real Estate Capital has arranged a $7.5 million permanent loan secured by Creekridge Circle Office complex in Bloomington. The 81,617-square-foot property includes two, three-story Class A office buildings, Creekridge I and Creekridge II. The property is fully occupied. Tony Carlson of Grandbridge's Minneapolis office secured the loan through an undisclosed bank.
TOPEKA, KAN. — YRC Worldwide has retained NRC Realty & Capital Advisors to auction a two-story, 23,000-square-foot office building, located at 3420 SW Van Buren St. in Topeka. The building includes three open office areas, four private offices and 102 parking spaces. YRC will enter into a six-month, short-term lease after closing.
MILWAUKEE — Inland Construction has completed two projects for SSG Properties at the Blatz Wash House, located at 1101 N. Market St. in Milwaukee. Inland renovated the 14,000-square-foot parking garage and the 7,500-square-foot Milwaukee Symphony Orchestra offices. Both projects were completed in January.
ST. LOUIS — Lambert-St. Louis International Airport will reopen its C Concourse in April, a year after a tornado blew out the arched windows in the Terminal I, damaged the concourse roof and caused extensive damage to airline gate areas. Kwame Building Group is the construction manager for the restoration, which includes roof and window replacement and repair on the concession areas. Kwame is also leading a $70 million renovation project at Lambert that began in 2008 and was underway when the tornado struck. The project will upgrade the A and C concourses. Additional work to the C concourse will include new lighting and renovated restrooms. The project is scheduled to be complete by the end of this year.