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.
QUINCY, ILL. — FedEx has broken ground on a new $1.5 million FedEx Distribution Center in Quincy, Ill. The 28,000-square-foot center is located on six acres in Wismann Ridge Business Park. The project developer is Madison-Wis.-based Ruedebusch Development & Construction. The center is slated for completion in March 2012.
CREST HILL, ILL. — High Street Equity Advisors LLC purchased a 262,500-square-foot industrial warehouse, located in the Crest Hill Business Park at 21511 Division St. in Crest Hill, Ill. The Boston-based investment firm acquired the property from Qualified Intermediary Land Trust of Southern Illinois for an undisclosed amount. Michael Tenteris and Jeff Fischer of NAI Hiffman represented High Street in the transaction.
CHICAGO — Great Lakes Lumber and Pallet Inc., an industrial pallet manufacturer, has leased 47,600 square feet of space at 333 W. 47th Place in Chicago. Mike Nelson and Mark Nelson of Chicago-based NelsonHill represented the tenant and Matt Rogatz of Chicago Industrial Real Estate represented the owner in the transaction.
