CRETE, ILL. — Silliker Inc., an international network of food testing and consulting laboratories has broken ground on a new lab in Crete, Ill. The building, which has a reported cost of $9.8 million, will house Silliker's research and development team. When completed next summer at Steger Road and Illinois 394, the 71,000-square-foot facility will be one of the largest food testing labs in the U.S. Robert Sevim and Rich Dale of Studley's Illinois office advised Silliker throughout the real estate process.
CHICAGO — Vornado Realty Trust (NYSE: VNO) has entered into an agreement to sell 350 W. Mart Center, a 1.2 million-square-foot office building in Chicago for about $228 million. The reported buyer is San Francisco-based Shorenstein Properties LLC. Vornado has also entered an agreement to sell four mixed-use properties in Manhattan for $78 million.
WEST CHESTER, OHIO — Liberty Towne Center, a 22,798-square-foot shopping center in West Chester, Ohio, has sold for $1.3 million. Located at 7206-7240 Towne Center Dr., the center was 60 percent occupied at the time of sale. Rob Taylor and Mike Sullivan of Cassidy Turley's Ohio office represented the seller, Dawn BV LLC. The buyer was a local family trust.
SHAKOPEE, MINN. — NorthMarq Capital's Minneapolis office has arranged $3.75 million in first mortgage financing for Dean Lakes Medical Office Building, a 20,000-square-foot building located at 4201 Dean Lakes Blvd. in Shakopee, Minn. Financing was based on a five-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with Bremer Bank-Minnesota.
EDEN PRAIRIE, MINN. —CIGNA Behavioral Health Inc., a global health service company, has signed a long-term lease to renew its 117,058-square-foot office space and expand into a total of 211,105 square feet at One Southwest Crossing in Eden Prairie, Minn. Brandon Megal and Bob Zwengler of CBRE represented CIGNA in the transaction. Kevin O' Neill and Mike Gelfman of Colliers International | Minneapolis-St. Paul represented the landlord.
CHICAGO — Canyon-Johnson Urban Funds and a joint venture between Vermillion Development Inc. and JFJ Development, will work together on a $106 million redevelopment of the mixed-used Harper Court in the Hyde Park neighborhood in Chicago. The two phase project will include the construction of a 150,000-square-foot office tower and more than 425 residential units. James McHugh Construction Co., the project's general contractor, has begun to mobilize the Harper Court site. The project is slated for completion in 2013.
DALLAS — Venture Commercial, a Dallas-based retail brokerage service, has arranged leases for three Northern Tool + Equipment locations in the Midwest. The leases, which range between 15,000 and 16,000 square feet, are located at 4661 Associated Ct. in Appleton, Wis.; Oak Park Commons in Lenexa, Kan.; and 2601 South Louise Ave. in Sioux Falls S.D. Clay Mote of Venture Commercial and a partner of X Team International represented the retailer in Sioux Falls and the landlord, HOM Furniture, was self-represented. In Lenexa, Mote and Tom O' Leary of Lane4 Property Group represented the retailer, while the landlord was represented by David Bayer of KC Commercial. Mote also represented the retailer in the Appleton deal, while the landlord was represented by Nick Tice and Thomas Hagedorn of Commercial Property Associates. Northern Tool + Equipment also signed additional leases in Oklahoma and Florida. The retailer signed 10-year leases in all locations.
CHICAGO — Duke Realty Corp. has acquired a nine-building industrial portfolio, totaling 1.79 million square feet for a reported $100 million. Eight of the buildings in the portfolio are located in Chicago, and a ninth building is in Corona, Calif. The seller, Boston-based TA associates, was represented by Mike Caprile, Ted Staszak and Stephanie Park of CB Richard Ellis. The nine properties are fully leased.
LOMBARD, ILL. — Atlanta-based Floor & Decor Outlets of America has leased 87,385 square feet of retail space at the Landings of Lombard, located on I-355 and North Avenue in Lombard, Ill. Stuart Lenhoff, Barry Millman and Jason Lenhoff of Buffalo Grove, Ill.-based Horizon Realty Services represented the landlord, Midwest Real Estate Equities. Gil Fitzgerald and Kevin Gallagher of Fitzgerald Real Estate represented Floor & Decor in the transaction.
BIRMINGHAM, MICH. —National retailers J. McLaughlin and Paper Source are opening new stores in The Birmingham Shopping District in Birmingham, Mich. Paper Source, opening in November, will occupy approximately 3,200 square feet at 115 W. Maple Rd. J. McLaughlin is now open at 268 W. Maple Rd. in a 1,600-square-foot space across from Paper Source.