OLATHE, KAN. — Nabholz Construction has purchased 9,750 square feet of industrial space, located at 1707 E. 123rd Terrace in Olathe, from Randall W. Fruit Trust. John Stafford of Colliers International represented the seller in the transaction, while the buyer was not represented.
Midwest
CHICAGO — Starwood Hotels has sold the 22-story W Chicago, located at 172 West Adams St. in Chicago, to Chesapeake Lodging Trust for $128.8 million. Starwood has signed a 40-year management agreement with full extensions to continue operating the hotel under the W name. Amenities include more than 12,000 square feet of meeting and event space, a SWEAT state-of-the-art fitness center and the recently renovated IPO restaurant.
CHICAGO — Robert K. Futterman & Assoc. completed the $80 million sale of the fee interest subject to the 71-year leasehold at One Superior Place. Jeff Fishman of RKF's New York office arranged the sale on behalf of the seller, BLDG Deans Superior, One Superior and BLDG HH Superior. Jeffrey Dunne of CB Richard Ellis' Stamford, Conn., office represented the buyer, Hartz Mountain Industries, who purchased the building in a simultaneous transaction.
SHAKOPEE, MINN. — Orion Food Systems has signed a 58,481 square feet renewal agreement with a 49,088-square-foot expansion lease for a total of 107,569 square feet of industrial space at Valley Oaks Distribution Center, located at 530112th Ave. in Shakopee. The landlord is First Industrial Realty Trust.
PLYMOUTH, MAPLE GROVE AND BROOKLYN PARK, MINN. — Boston-based Great Point Investors has selected Minnetonka, Minn.-based Welsh Property Trust to lease, manage and provide maintenance services for its 840,000-square-foot, 17-building industrial and office real estate portfolio. The portfolio, which is 77 percent occupied, contains properties in Plymouth, Maple Grove and Brooklyn Park, Minn. Brett Greenfield of Welsh will serve as the portfolio manager and the leasing team will include Paul Bickford, Jim Damiani, Rob Brass and Andrew Odney of St. Paul, Minn.-based NAI Welsh.
UNIVERSITY CITY, MO. — The 60,000-square-foot, two-story Barbara C. Jordan Elementary School, located at 1500 N. 82nd Blvd. in University City, is now open. It is the first new school to open in University City in more than 15 years. The 24-classroom building was built using green engineering and the district has applied for LEED certification. The school was funded through Proposition U, a $53.6 million bond issue passed in April 2009. A second 60,000-square-foot, two-story school named Pershing Elementary will break ground in May. Construction on both projects was managed by a joint venture of McCarthy Building Cos. and Kwame Construction and Bond Wolfe Architects designed the buildings.
NORTH CANTON, OHIO — North Canton-based Suarez Corp. Industries has signed a 200,000-square-foot lease at a former Hoover Vacuum Cleaner facility located at the 1.4 million-square-foot, mixed-use complex The Hoover District in North Canton. Suarez will make this location a new manufacturing and distribution facility, consolidating operations from its two existing facilities located near the Akron-Canton Airport in Green and Plain Townships in Ohio. The landlord is Maple Street Commerce. Terms of the lease were not disclosed.
ST. LOUIS — E.M. Harris Construction Co. has started the renovation of the 27-story, 225-unit Council Tower Senior Apartments, located at the intersection of Highway 40 and Forest Park Avenue in St. Louis. The $40 million renovation will include an electrical system upgrade, new plumbing and HVAC systems, window replacements, masonry restoration, and new interior finishes. Council Tower Senior Apartments, LP, an affiliate of Bruce Development Company, purchased the building in December 2010. The financing includes a U.S. Department of Housing and Urban Development-insured mortgage through Gershman Mortgage. Klitzing Welsch Associates is the project architect.
JACKSON, MICH. — St. Louis-based Love Funding has closed a $15.8 million refinancing loan for the 220-unit senior living complex Countryside Retirement Community, located in Jackson. Bruce Gerhart of Love Funding's Cleveland office and Mickey Rist of the Detroit office funded the loan through the Federal Housing Administration's 223(f) loan insurance program. The loan has a low, fixed-interest rate and a 35-year self-amoritizing term.
MINNETONKA, MINN. — Construction has begun on a 32,000-square-foot standalone Whole Foods, located at 1001 Plymouth Rd. in Minnetonka. A joint venture between St. Paul, Minn.-based Paster Enterprises and Shiner Capital Partners is building the project. General contractor Novak Construction will oversee the exterior minor modifications and a complete interior overhaul on the former Circuit City building. The location is slated for a fall opening.