Midwest

PUBLISHING COMPANY TAKES THREE FLOORS AT 200 S. MICHIGAN IN CHICAGO

by admin January 11, 2012

CHICAGO — Johnson Publishing Co., a Chicago-based media firm, has executed a long-term lease agreement for 40,000 square feet at 200 S. Michigan Ave. in Chicago. Johnson will occupy the top three floors of the 357,777-square-foot office building. Jeff Bernstein, Ben Azulay, Andrew DeMoss of Bradford Allen Realty Services represented the landlord, BPG Properties, in the transaction. David Herbert and Michael D'Angelo of UGL Services represented Johnson Publishing. Through its media division, the company publishes Ebony and Jet magazines, among others.

January 11, 2012

DUNKIN' DONUTS PLANS NEW STORES IN IOWA

by admin January 10, 2012

DES MOINES — Dunkin' Donuts has signed a store development agreement with a franchisee team that includes siblings Lori Kelderman High and Jeff Kelderman, for eight new restaurants in Des Moines. Two restaurants are slated to open in 2013 and the remainder by 2016. Franchise opportunities are still available in Iowa, specifically in Sioux City and Ottawa as well as Lincoln and Omaha, Neb.

January 10, 2012

Midwest Retail

OHIO RETAIL CENTER SELLS FOR $7.3 MILLION

by admin January 10, 2012

POWELL, OHIO — Powell Crossing, a 48,750-square-foot retail center has sold for $7.3 million in Powell. The center's shadow anchor, Kroger, recently expanded its space by 20,000 square feet. Dan Cooper of Cooper Commercial Investment Group represented the sellers, Columbus, Ohio-based Powell-Sawmill LLC. He also found the buyer, a private group from Texas.

January 10, 2012

Midwest Retail

CITY WINERY PLANS WEST LOOP LOCATION

by admin January 10, 2012

CHICAGO — City Winery founder Michael Dorf has purchased a 30,000-square-foot property in Chicago's West Loop to open the first offshoot of his City Winery New York location. City Winery Chicago, a fully operational winery, restaurant and concert hall is scheduled to open at 1200 W. Randolph this summer. Construction has begun to transform the former refrigerated food distribution warehouse into a contemporary winery and hospitality facility. The project team includes architect Christopher Warnick, designer Phillip Katz and Summit Construction.

January 10, 2012

Midwest Multifamily

UC FUNDING PROVIDES $16.8 MILLION OF CAPITAL FOR CHICAGO PORTFOLIO

by admin January 10, 2012

CHICAGO — UC Funding has closed $16.8 million in financing for a portfolio of properties in Chicago and Tennessee. The loan allowed the borrower to refinance and acquire 10 properties; nine of which are multifamily assets, located in urban and suburban Chicago. The assets total 647 units. The 10th asset is a 245-room hotel in Memphis. The transaction was underwritten and closed in less than 30 days.

January 10, 2012

Midwest Office

WEST MART CENTER FETCHES $228 MILLION IN CHICAGO

by admin January 9, 2012

CHICAGO — Shorenstein Properties LLC has closed on the $228 million purchase of 350 West Mart Center, a 1.2 million-square-foot office building in Chicago. The seller was Vorando Realty Trust, which received a net gain of about $54 million on the sale. The property is located at 350 N. Orleans St. and is a former apparel center, which Vornado converted into a modern office building. Tenants include the Chicago Sun-Times and the Illinois Institute of Art.

January 9, 2012

Industrial Midwest

MONMOUTH PAYS $5.1 MILLION FOR OHIO INDUSTRIAL BUILDING

by admin January 9, 2012

LEBANON, OHIO —Monmouth Real Estate Investment Corp. has purchased a 51,200-square-foot industrial building, located at 4170 Columbia Rd. in Lebanon for $5.1 million. The property is net leased for 7.5 years to Siemens Real Estate, a division of Siemens AG. The building was recently constructed by Crescent Development.

January 9, 2012

Midwest Office

HENDERSON ENGINEERS EXPANDS, RELOCATES LENEXA HEADQUARTERS

by admin January 9, 2012

LENEXA, KAN. — Henderson Engineers Inc. is moving its Lenexa headquarters about 150 feet. The engineering company signed a new 84,500-square-foot lease at 8345 Lenexa Dr. in the Pine Ridge East Business Park in Kansas City. The company will begin moving from its current space at 8325 Lenexa Dr. in February, which totals about 67,000 square feet. Complete occupation is scheduled for this summer. Ken Block, Gene Elsas and Brian Bock of Block Real Estate Services represented Pine Ridge Business Park in the transaction. Bryan Johnson of Colliers International acted as a consultant to Henderson Engineers.

January 9, 2012

Industrial Midwest

DUKE REALTY BUYS TWO FULLY LEASED INDUSTRIAL BUILDINGS

by admin January 9, 2012

CAROL STREAM, ILL. — Duke Realty Corp. has acquired two, fully leased industrial buildings in Carol Stream, Ill., totaling 463,222 square feet, for $32 million. The building located at 720 Center Avenue is a 360,684-square foot building and is fully leased to Peacock Engineering, a food packaging company. The 75,538-square-foot building at 189 –199 Easy St. is leased by Chicago Title Company, a real estate services provider. Mike Caprile, Ted Staszak and Stephanie Park with CBRE represented the seller in the transaction.

January 9, 2012

Industrial Midwest

BRIDGE DEVELOPMENT BUYS 461,943-SQUARE-FOOT INDUSTRIAL PARK

by admin January 6, 2012

GREEN OAKS, ILL. — Bridge Development Partners has acquired Green Oaks Business Center, a three-building, 461,943-square-foot industrial park at 13820-13950 Business Center Dr. in Green Oaks. The property is nearly 70 percent leased to ITW Paslode, Neptune Lighting Inc., Office Concepts and Advanced Packaging and Fulfillment Inc. Jeff Devine, Steve Disse, Jeffrey Kahan and Fred Regnery of Colliers International represented the seller, International Airport Centers, in the transaction.

January 6, 2012

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