Midwest

U. OF CHICAGO BUILDING $215M RESEARCH CENTER

by admin June 14, 2011

CHICAGO — The University of Chicago is developing the new William Eckhardt Research Center, a $215 million project located on campus on the site of the current Research Institutes Building. The structure, along with the Low Temp Building and the Astronomy and Astrophysics Center, will be demolished to make way for the 265,000-square-foot Eckhardt Center. The new building will contain five stories above grade and two below grade. It will feature laboratories, offices and conference rooms for the Division of Physical Sciences. A bridge will connect the new building to the existing Accelerator Building. In addition, the new Institute of Molecular Engineering will be housed within the Eckhardt Center. Thornton Tomasetti is serving as structural engineer of record.

June 14, 2011

56,000SF RETAIL CENTER SELLS IN INDY

by admin June 14, 2011

INDIANAPOLIS — Midland Atlantic has completed the sale of Arlington Square, a 56,000-square-foot neighborhood retail center located in the Indianapolis area. Midland's Tracey Holtzman represented the buyer, ARL SC LLC, as well as the seller, The State Bank & Trust. Concurrent with the sale, Holtzman represented the new owner in the lease of 3,933 square feet to Vocational School of the Arts.

June 14, 2011

Midwest Mixed-Use

CHICAGO MXD PROPERTY TRADES FOR $2.03M

by admin June 14, 2011

CHICAGO — Marcus & Millichap has brokered the sale of a 23,600-square-foot mixed-use property located at 1825 W. Newport Ave. in Chicago's Roscoe Village neighborhood. The property traded for $2.03 million. Occupancy was 50 percent at the time of closing. The new owner plans to operate an upscale daycare on the building's ground floor. Michael Marks and Evan Halkias of Marcus & Millichap's Chicago office represented both undisclosed parties in the deal.

June 14, 2011

Midwest Retail

AUTO ZONE BUYS TWO WIS. LAND PARCELS

by admin June 14, 2011

HARTFORD AND SUSSEX, WIS. — Milwaukee-based Commercial Property Associates has represented Auto Zone in the purchase of two Wisconsin land parcels. Mark Wussow and Jon Thoresen assisted the auto parts retailer in acquiring 1.06 acres at 128 E. Sumner St. and 1268 Sumner St. in Hartford as well as 0.79 acres at N64 W24901 Silver Spring Drive in Sussex. The sellers in both deals were not released.

June 14, 2011

Midwest Retail

LAND SOLD FOR BANK BRANCH

by admin June 14, 2011

STREAMWOOD, ILL. — Chicago-based Millennium Properties brokered the sale of a land site located at 103 Sutton Road in Streamwood. The buyer, Hemant Modi, plans to develop a bank branch building on the site. Millennium marketed the property on behalf of the undisclosed seller. The purchase price was not released.

June 14, 2011

Midwest Retail

REI TO OPEN FIRST INDIANA STORE

by admin June 13, 2011

INDIANAPOLIS — REI has announced plans to open its first store in Indiana. The new store will be a single-story, 23,800-square-foot location within the Plaza at Castleton shopping center in Indianapolis. It will feature a bike shop, a seasonal gear rental department and community space for classes and events. REI currently operates 117 stores in 28 states.

June 13, 2011

Midwest Retail

NEWCASTLE BUYS CHICAGO RETAIL CONDO FOR $4M

by admin June 13, 2011

CHICAGO — Chicago-based Newcastle Limited has purchased a 7,300-square-foot retail condominium located at 33 South Wabash in Chicago for $4 million. The condo is located on the ground level of The Legacy at Millennium park, a 355-unit residential condo building. At the time of closing the space was fully leased to Utrecht Art Supplies. The seller was a joint venture between Mesa Development and Walsh Investors.

June 13, 2011

Industrial Midwest

GRINDSTONE BROKERS 30K SF INDUSTRIAL SALE IN MO.

by admin June 13, 2011

INDEPENDENCE, MO. — Grindstone Industrial Properties has brokered the sale of a 30,000-square-foot industrial property located at 14912 E. Truman Road in Independence. Paul Neal of Grindstone represented the seller, John Pepper. Brad Carrender of Realty Professionals represented the buyer, Robin's Autos. The purchase price was not released.

June 13, 2011

Industrial Midwest

HSA LEASES 104,561SF OF IND. SPACE IN ILL.

by admin June 13, 2011

GREEN OAKS, ILL. — Chicago-based HSA Commercial Real Estate has arranged two industrial leases totaling 104,561 square feet at Green Oaks Business Center, a three-building, 461,943-square-foot industrial park located in Green Oaks. Advanced Packaging & Fulfillment leased 66,658 square feet at 13820 Business Center Drive. HSA's Douglas Reed represented the tenant as well as the landlord, IAC Green Oaks LLC, in lease negotiations. In addition, Neptun Lighting leased 27,903 square feet at 13950 Business Center Drive. Reed represented the same landlord, and Matt Jarosz of Eger & Associates represented the tenant.

June 13, 2011

Midwest Retail

LIDS BUYS BUCKEYE CORNERS STORES

by admin June 11, 2011

COLUMBUS, OHIO — LIDS Sports Group has acquired Buckeye Corner, a Columbus-area retail chain that specializes in licensed merchandise from Ohio State University. The acquisition includes the four Buckeye Corner stores, which are located in Easton Town Center, Polaris Lifestyle Center and Northwest Square in Columbus, as well as Lane Center in Upper Arlington. LIDS currently operates five speciality headwear retail stores in the Columbus market and 32 stores across Ohio.

June 11, 2011

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