LIBERTYVILLE, ILL. — Laser Precision, a company that uses laser technology for fabrication, has leased 30,345 square feet of warehouse space at 1400 Harris Rd. in Libertyville. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented both the landlord, McShane Liberty Point, and the tenant in the transaction.
KANSAS CITY, KAN. — Logan's Roadhouse has broken ground on 1.4 acres of land at Plaza at the Speedway in Kansas City. The new restaurant will be located just west of Chick-fil-A and is scheduled to open in the summer of 2012. David Block and Becky Goodman of Block & Co. Inc.'s Kansas City office, along with Christian Ablah of Classic Real Estate, represented the seller, Plaza Speedway. Jeff Berg of Lane 4 Group represented the buyer, Speedway LR.
MT. HEALTHY, OHIO — Red Capital Markets, the investment banking arm of Red Capital Group, has deployed a $6 million bond for The Reserve on South Martin, a 60-unit affordable housing development being built in Mt. Healthy, Ohio. Related entity Red Capital Partners has a commitment to purchase the entire $6 million bond issue on a draw-down basis as required by the demands of the construction schedule. The project sponsor is Cincinnati Metropolitan Housing Authority, who is serving as the developer, general partner and management for the community. The construction phase is expected to be complete in the fall of 2012.
AURORA, ILL. — Leopardo recently completed 42 of the 88 rooms at Provena Mercy Medical Center in Aurora as part of a multi-phased modernization and privatization project. The final rooms are slated for completion in late 2012. Each room includes 218 square feet of space and newly replaced windows. The architect for the project is Jensen & Halstead.
OMAHA — The Industrial Realty Group of Downey, Calif. has purchased the former Connectivity plant at 125th and I streets. Ryan Zabrowski and R.J. Neary of Investors Realty negotiated the sale for Comscope of Hickory, N.C. The property includes a 140,000-square-foot office building and data center, and a 1 million square foot industrial building. The property was listed at $19.16 million but the closing price was undisclosed.
CHICAGO — In a joint venture, Harper Court Partners and Los Angeles-based Canyon Johnson Urban Fund closed on a $65 million construction loan with Citi Community Capital for the mixed-use Harper Court in Chicago. The PrivateBank, a local subsidiary of PrivateBancorp, entered a participation agreement with Citi, through which it will provide a significant portion of the construction financing. The $106 million Harper Court project will include the construction of a 150,000-square-foot office tower and is slated for completion in 2013.
CHICAGO — Lawson Products, a distributor of maintenance, repair and operations supplies, is moving its Des Plaines headquarters to an office in Chicago and consolidating its distribution in McCook. The new headquarters are located at 8770 W. Bryn Mawr, where the company signed a lease for 86,000 square feet. The distribution center will be located at a 306,805-square-foot, build-to-suit facility at the CenterPoint Business Center. Construction is expected to be complete in August 2012. Colliers International represented Lawson in the McCook deal.
MANHATTAN, KAN. — HWC, a real estate development company, has opened the new Hilton Garden Inn Hotel & Conference Center in Manhattan, Kan., following two years of construction. The 135-room Hilton Garden Inn is connected to a 30,000-square-foot conference center. The project is part of Manhattan's South End redevelopment project, which will include the Flint Hills Discovery Center, scheduled to open in the spring of 2012. The hotel is managed by Kinseth Hospitality Corp.
MINNEAPOLIS — WNC & Associates has provided $8.3 million in financing to United Properties for the acquisition and renovation of the Ford Center in Minneapolis. Located at 429 N. Fifth St., the project is slated to deliver more than 270,000 square feet of office space. When complete, the building will serve as the national headquarters of HGA Architects and Olson Advertising. The firms will occupy a combined 215,000 square feet.
NOVI, MICH. — Healthcare Trust of America Inc., a real estate investment trust focused on medical office buildings, has executed an agreement to purchase a 203,000-square-foot, on-campus medical office building in Novi, Mich. for $51 million. The building is 98 percent occupied and is connected to Providence Park Hospital via a covered walkway.