ST. ANTHONY AND WOODBURY, MINN. — Inland Real Estate Corp. recently purchased two retail properties in the Minneapolis market for a total of $46.6 million. In a joint venture, Inland and PGGM acquired Silver Lake Village, a grocery-anchored shopping center in St. Anthony — an inner suburb of Minneapolis — for $36.3 million. On the same day, Feb. 24, Inland also acquired Woodbury Commons, a shopping center in Woodbury, for $10.3 million. Silver Lake consists of 159,303 square feet and is anchored by Cub Foods. Woodbury Commons totals 116,197 square feet and its tenants include Outback Steakhouse, Applebee's and Payless ShoeSource.
BUFFALO GROVE, ILL. — Barrett Moving & Storage has signed a new 57,000-square-foot lease to move its Chicago-area headquarters to a more centralized location in Buffalo Grove. The company is moving from its current nearby location at 3831 Hawthorn Court in Waukegan to 201 Hastings Dr. Robin Stolberg and Kurt Sarbaugh of the Chicago office of Jones Lang LaSalle represented the tenant in the transaction. Hamilton Partners, which owns the building, acted as the leasing agent.
CHESTERFIELD, MO. — Banyan Ventures has sold 14897 Clayton Rd. in Chesterfield, a 12,880-square-foot office building, for $1 million. The new owners, Andreas Loakimides, Jayson Hardie & Gregory Aftayev, plan to remodel the common areas, exterior landscaping and resurface the parking lot. Tim Balk of Solon Gershman represented the seller in the transaction. John Pennington of Savoy Properties represented the buyers.
COLUMBUS — Cleveland-based American Coach Sales has acquired a 56,000-square-foot retail and warehouse property in Columbus, located at 1239-1251 Alum Creek Dr. The purchase price was $900,000. The company, which specializes in the sale of limousines and other transport vehicles, is already a tenant in the property, leasing 15,000 square feet. The building was fully leased at the time of sale, with American Coach and PGW Glass as the major tenants. Dan Sheeran and Mike Semon of NAI Ohio Equities represented the building owner, Doyle Properties, in the transaction. Greg Skinner of ERA Real Estate Solutions represented the tenant.
GODFREY, ILL. — Contegra Construction Co. has completed a $10.5 million renovation and expansion of the Hatheway Hall theater building on the campus of Lewis and Clark Community College in Godfrey. The project included the addition of 6,800 square feet and renovation of 62,500 square feet. It also featured a new two-story enclosed lobby. The project team included architect AAIC Inc. of Collinsville, Ill., civil engineer Sheppard, Morgan & Schwab of Alton, Ill. and structural engineer EDM of St. Louis, Mo.
MILWAUKEE — Marcus & Millichap of Milwaukee has arranged the $1.8 million sale of a 14,340-square-foot Dollar Tree in the city. The single-tenant property is located along South Howell Street. Jeff Rowlett and Jason Ladner of Marcus & Millichap represented the seller, a Wisconsin developer, in the deal. The buyer was a private investor from California.
St. Louis — Washington University has announced plans to remake a central part of the Delmar Loop, which is a six-block shopping and dining destination near the university, with an $80 million project consisting of stores and apartments for approximately 550 students. The project comprises a four- to six- story building of retail space and apartments on Delmar Boulevard at Eastgate Avenue and three new mid-rise apartment buildings on Enright Avenue nearby. Construction is scheduled to begin January 2013 with occupancy in August 2014. Washington University owns all the affected property.
CHICAGO — Richwell Enterprises, which specializes in distribution warehousing for the food service industry, signed a lease for 142,000 square feet at the Midway Business Center in Chicago. The property is located at 5363 S. Archer and will serve as a distribution center for one of Richwell's food customers. Matt Rogatz of Chicago Industrial Real Estate represented the tenant in the transaction. Mike Nelson and Mark Nelson of NelsonHill represented the owner.
MINNEAPOLIS — Ryan Cos. and its investment partners have broken ground on a 580,000-square-foot, mixed-use project in downtown Minneapolis. The project, known as 222 Hennepin, will include 286 apartments and will be anchored by a Whole Foods Market, the first in downtown Minneapolis. Ryan's joint-venture partners include an unnamed institutional client of Invesco Real Estate and The Excelsior Group. Construction is slated for completion in 2013. The project is valued at $70 million.
PITTSBURGH, ILL. — Swansea, Ill.-based Holland Construction Services has begun work on the $5.3 million Johnston City High School sports complex in Pittsburgh. The project includes razing the existing football and softball fields. Crews will then add a new concession stand and locker room building, press box, a synthetic surface running track and new artificial turf football field, plus additional elements. FGM Architects is designing the complex, which is scheduled for completion later this summer.