Midwest

ROYCEMORE OPENS NEW SCHOOL IN EVANSTON

by admin February 9, 2012

EVANSTON, ILL. — The nearly 6-year relocation and expansion project at Roycemore School in Evanston, Ill. is complete. Last month, the private school opened its new 68,000-square-foot facility at 1200 Davis St. The school serves 265 students from grades pre-kindergarten through high school, with room to expand enrollment to about 350 students. The building also includes a media center and full-sized gym. The school's previous campus was located at 640 Lincoln St. in Evanston, which the school leased from Northwestern University. Podolsky Northstar CORFAC International assisted Roycemore with the site selection and evaluation process.

February 9, 2012

PHILLIPS EDISON CLOSES $94.5M IN CMBS FINANCING

by admin February 9, 2012

CINCINNATI, FORT SMITH, ARK. — Phillips Edison's Strategic Investment Fund I has closed two CMBS loans totaling $94.5 million. The 10-year loans are secured by shopping centers in Cincinnati and Fort Smith. The Cincinnati property is Bridgewater Falls, a 600,000-square-foot center anchored by Target, JCPenney and Dick's Sporting Goods. Fort Smith Pavillion in Fort Smith is a 400,000-square-foot shopping center anchored by Target and Dick's Sporting Goods. Both properties are more than 95 percent occupied.

February 9, 2012

Civic Midwest

NEW BRIDGE, ART PLAZA OPENS IN MINNEAPOLIS

by admin February 9, 2012

MINNEAPOLIS — The Ackerberg Group has completed construction of a new 436-stall parking ramp, public art plaza and pedestrian bridge linking the Midtown Greenway trail to the heart of Uptown in Minneapolis. The art plaza is part of Ackerberg's MoZaic project, a mixed-use development between Fremont and Hennepin avenues. It includes public art installations, patio space for MoZaic's restaurant tenants and a public gathering space. The art plaza will link Lagoon Avenue with the Midtown Greenway through the new bridge, which was funded in part by a Hennepin County Transit Oriented Development grant.

February 9, 2012

Midwest Office

GENERAC POWER TO REMODEL, EXPAND HEADQUARTERS

by admin February 8, 2012

WAUKESHA, WIS. — Generac Power Systems, a manufacturer of backup power generation equipment, plans to commit up to $6 million to expand and remodel its headquarters in Waukesha. Additionally, the company will spend up to $4 million in upgrades and to create a technical center. The company employs more than 550 people at its headquarters and plans to add more than 200 new jobs in the next three years. The project will convert about 27,500 square feet of manufacturing space into office space and add 3,300 square feet for a new main entrance. The renovation is expected to be complete by the end of 2013.

February 8, 2012

Midwest Multifamily

WINDSOR ON THE RIVER SELLS FOR $33M IN IOWA

by admin February 8, 2012

CEDAR RAPIDS, IOWA —CBRE/Hubbell Commercial has arranged the $33 million sale of Windsor on the River, a 424-unit apartment community located at 2415 Oxford Lane in Cedar Rapids. Windsor on the River was built in 1982 and remodeled in 2008. It includes one-, two- and three-bedroom apartments. Linda Gibbs and Timothy Sharpe of the Des Moines office of CBRE/Hubbell Commercial represented the seller in the transaction. They also procured the undisclosed buyer.

February 8, 2012

Midwest Office

INLAND COMPLETES 16,000 SQUARE FOOT OFFICE PROJECT

by admin February 8, 2012

MILWAUKEE — Inland Construction has completed a 16,000-square-foot office renovation project for Forrer Business Interiors, a workspace design company, located at 555 Estabrook Blvd. in Milwaukee. The project was completed in January.

February 8, 2012

Industrial Midwest

TRUCKING COMPANY SIGNS NEW LEASE IN BRIGHTON

by admin February 8, 2012

BRIGHTON, MICH. — CZ Cartage, a trucking company, has leased 18,200 square feet of industrial space at 12336 Emerson Dr. in Brighton. Jim Montgomery and Steve Kozak of Signature Associates represented the landlord, General Chemical. Montgomery also represented CZ Cartage. The company plans to use the facility for additional shipping, receiving and warehouse

February 8, 2012

Midwest Multifamily

UMH RECEIVES $11.4M LOAN TO REFINANCE TWO MANUFACTURED HOME COMMUNITIES

by admin February 7, 2012

OHIO — UMH Properties has received an $11.4 million mortgage loan from Bank of America to refinance two manufactured home communities in Ohio and Tennessee. The loan includes a fixed interest rate of 4.4 percent with monthly principal payments of about $26,000. The maturity date is Feb. 1, 2017, but may be extended for an additional two years at an interest rate of LIBOR plus 3.3 percent.

February 7, 2012

Industrial Midwest

DEFENSE CONTRACTOR SIGNS NEW LEASE IN MICHIGAN

by admin February 7, 2012

STERLING HEIGHTS, MICH. — Merrill Technologies, a defense contractor, has signed a lease for 27,806 square feet of industrial space at 33844-33852 Sterling Ponds Court in Sterling Heights. Joe Hamway of the Southfield, Mich. office of Signature Associates represented Merrill in the transaction.

February 7, 2012

Midwest Multifamily

CENTRA HOMES ACQUIRES LARGE LAND PORTFOLIO

by admin February 7, 2012

MINNEAPOLIS — Centra Homes has closed on the purchase of 350 properties from Assured Funding Trust of Little Canada, Minn. The properties are located throughout the greater Twin Cities area and consist of homes in the process of construction, developed lots ready for sale and undeveloped land. Though most of the properties will be for single-family homes, some of the undeveloped land is appropriate for apartment or multifamily development. The properties are located in the cities of Woodbury, Blaine, Apple Valley, Andover, Inver Grove Heights and Cottage Grove.

February 7, 2012

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