ELGIN, ILL. — Milwaukee-based Zilber Property Group has purchased a 125,990-square-foot industrial building, located at 1331 Davis Rd. in Elgin, Ill. for an undisclosed amount. Tenants include Seigle Cabinet Center and Bucher Hydraulics. Ken Franzese and John Cassidy of Lee & Associates represented the seller. Adam Marshall of NAI Hiffman represented the buyer and Bucher Hydraulics.
SOUTH BEND, IND. —Memphis-based Education Realty Trust has purchased Irish Row, a collegiate housing community adjacent to the University of Notre Dame in South Bend, Ind. for $27.5 million in cash. The community consists of 127 units in two-, three-, and four-bedroom styles. The community is fully leased for the 2011-2012 academic year.
COLUMBIA, MO. — Westbrook, Maine-based IDEXX Laboratories Inc. has purchased RADIL, a research and diagnostic laboratory business, from the University of Missouri for $43 million in cash. The deal calls for all employees of RADIL to become IDEXX employees and continue to run the business in Columbia, Mo. IDEXX is an animal health instrumentation and software products company.
CHICAGO — Essex Realty Group Inc. has completed the $1.65 million sale of a mixed-used property in Chicago's Wicker Park neighborhood. The building, located at 1914 W. Division and formerly known as the Russian and Turkish Bath House, is fully vacant. It includes 6,000 square feet of first-floor commercial space and five apartments. The property was owned through an entity of American Chartered Bank. Jason Fishleder and Doug Fisher represented the bank in the transaction.
NEENAH, WIS. — Inland Diversified Real Estate Trust Inc. has purchased the $18.2 million Fox Point, a 171,121-square-foot shopping center in Neenah, Wis. anchored by a Pick 'n Save grocery store. Joe Consenza of Inland Real Estate Acquisitions represented Inland Diversified Real Estate in the transaction. The center was more than 98 percent leased at closing.
CHICAGO — In a joint venture, AREA Property Partners and Martin Capital Group will redevelop 1313 W. Randolph St., a 130,000-square-foot industrial loft building in Chicago. The partnership recently closed on a $12.9 million construction loan to redevelop the building into a mixed-use project. Plans include 70 loft-style apartments and 27,000 square feet of retail space. Construction is slated for completion in late 2012.
GRAND RAPIDS — Signature Associates has negotiated the sale of a 56,511-square-foot industrial building located at 5633 52nd St. SE in Grand Rapids to SSBB Inc. Cathy Bottema and Steve Burman of Signature Associates represented the seller, Bank of America, in the transaction.
QUINCY, ILL. — Chicago-based Old Veteran Construction Co. Inc. will break ground on a new $12.2 million U.S. Army Reserve Training facility in Quincy. Plans for the 30,912-square-foot facility include a learning center, weapons simulator and physical fitness area. Construction will begin after the preliminary site work has been completed. The completion date is yet to be determined.
NOVI, MICH. — Signature Associates has negotiated the sale of 50,000 square feet of industrial space, located at 42860 Nine Mile Road in Novi, Mich. Jim Montgomery of Signature Associates's Southfield, Mich. office represented the seller, Tisdale LLC. David Giltner of Signature Associates represented the buyer, SunGlo, in the transaction.
SKOKIE, ILL. — Command Transportation has purchased a 44,118-square-foot industrial facility in Skokie, Ill. from Sitex Realty Group for an undisclosed amount. Brian Colson and Eric Fischer of NAI Hiffman represented Sitex Realty Group in the transaction. The buyer plans to demolish the building and use the property for additional parking.