LIVONIA, MICH. — Farmington Hills, Mich.-based Pet Supplies Plus has signed a new lease for 33,000 square feet to relocate its national headquarters to Laurel Office Park in Livonia. Pet Supplies Plus is the third-largest pet specialty retailer in the U.S. with 257 stores in 23 states. The new headquarters will be located at 17197 N. Laurel Park Dr. David Friedman of Friedman Integrated Real Estate Solutions represented the landlord, Laurel Office Park in the transaction. Jeff Cavazos of NAI Farbman represented the tenant.
CHICAGO — The 661,4770-square-foot office building located at 150 N. Michigan Ave. is for sale in Chicago. Bruce Miller, James Postweiler and Nooshin Felsenthal of the Chicago office of Jones Lang LaSalle are marketing the property on behalf of SEB Investment. The property is currently 77 percent leased. In 2011, Crain Communications selected 150 N. Michigan as the new home for its Chicago offices. Crain leased 65,487 square feet and the tower will be renamed the Crain Communications Building when the media company takes occupancy this April.
CHICAGO — McShane Construction has completed the conversion of a former office building to 28 loft apartments at 2800 N. Milwaukee Ave. in Chicago. The 50,560-square-foot Hairpin Lofts includes apartment units on the top four floors, plus a 7,000-square-foot community center on the second floor. The ground floor features 9,000 square feet of retail space. McShane began reconfiguring the former Morris B. Sachs building in mid-2010. Crews restored the existing facade that dates back to 1930 and refinished the aging marble flooring. The building also includes sustainable features such as a green roof and Energy Star appliances. The project was co-developed by Brinshore Development and Anixer Center.
MACHESNEY PARK, ILL. —Orput Cos. has sold its single-tenant, net leased Advance Auto Parks property, located at 1535 W. Lane Rd. in Machesney Park, for $1.5 million. Orput developed the 6,124-square-foot building in 2011. Advance Auto Parts has 14 years remaining on its lease. The Boulder Group represented Orput in the transaction. SAR Enterprises represented the buyer, a California-based investor.
FORT WAYNE, IND. — Max Fitness has signed a lease for 19,200 square feet at Northbridge Village, located at 1415 W. Dupont Rd. in Fort Wayne. Stanley Phillips of NAI Harding Dahm represented the landlord, Northbrook Development, in the transaction.
CLEVELAND — Forest City Enterprises received the final installment payment of $34 million for its $85 million land and air rights sale to Rock Ohio Caesars Cleveland, for development of a casino in downtown Cleveland. The transaction includes 16 acres of land and related air rights adjacent to Forest City's Tower City Center mixed-use complex. The company received $11 million in cash at closing and additional installment payments of about $40 million during 2011.
DEKALB, ILL. — An investment group controlled by Clayco and Venture One Real Estate, has acquired 350 acres of industrial land at 88 Park in Dekalb, from Citizens First National Bank. The land acquisition was financed by First Midwest Bank. The transaction represented the largest industrial land sale in the Midwest since 2007. Park 88 already contains distribution centers for 3M and Target. The 350 acres includes five pad-ready sites that can accommodate buildings of 162,000 square feet, 171,000 square feet, 418,000 square feet, 570,000 square feet, 587,100 square feet and one shovel-ready site for a 1.7-million-square-foot building.
TOPEKA, KAN. — Tritz Pallet Repair has inked a lease for 44,220 square feet of industrial space at Forbes Industrial Park, located at 7215 S. Topeka Blvd. in Topeka. Matthew Severns of Kessinger/Hunter & Co. represented the landlord in the transaction. Paul Fogel of Karbank Real Estate represented Tritz Pallet.
COLUMBUS, OHIO — The McDonalds Corp. has signed a lease for 30,360 square feet of office space at 2600 Corporate Exchange Dr. in Columbus. Matt Murtha and Randy Stephens of Cassidy Turley represented the landlord, AEW Capital Management, in the transaction.
WHEATON, ILL. — Renovations to the 251,313-square-foot Rice Lake Square shopping center in Wheaton are complete. The project included two new pedestrian plazas, updated signage and new parking spaces. Oakbrook Terrace, Ill.-based Mid-America Asset Management oversaw the project on behalf of the center's owner, Grosvenor Americas. The project team also included architect Pappageorge Haymes Partners and civil engineer Spaceco Inc. This is the first major enhancement to the Rice Lake Square since it was constructed in 1992. The center includes Whole Foods, Stein Mart and PetSmart.