CHICAGO — In a joint venture, Chicago-based Fifield Cos. and national developer Wood Partners have broken ground on K2, a 34-story apartment tower, located at 365 N. Halsted St. in Chicago. The apartment tower will include 496 units and 348 parking spaces. McHugh Construction is the general contractor and Pappageorge/Haymes is the architect for the project, which is scheduled for completion in 2013. Residences at K2 will include studio, one-, two- and three-bedroom apartments.
COLUMBIA, MO. — St. Louis-based Paric is beginning construction on a $50 million addition and renovation at Lenoir Woods continuing care retirement community in Columbia, Mo. The five-year project is planned in phases, and construction includes a new two-story assisted living building, a four-story independent living building with underground parking and a new memory care facility. The senior living community is operated by St. Louis-based Lutheran Senior Services.
BOSTON HEIGHTS, OHIO —Gladstone Commercial Corp. has purchased a 25,000-square-foot office building in Boston Heights, Ohio for approximately $4.7 million. The property was a new build-to-suit for Paychex North America, a subsidiary of Paychex Inc. The tenant leased the property for 10 years and has three options to renew the lease for additional periods of three years each. Buzz Cooper of Gladstone Commerical Group represented Gladstone in the transaction.
ST. LOUIS — The Peabody Opera House, located at 1400 Market St. in St. Louis, was recently reopened after undergoing a $78 million restoration that began in July 2010. Updates to the 77-year-old building included adding quiet air conditioning, modern fire protection and washroom facilities. The developers include Sports Capital Holdings-St. Louis; Optimus Development; and St. Louis-based Paric Corp., in partnership with KAI Design & Build.
GERMANTOWN, WIS. — KitPackers LLC, an adhesive company, has leased 4,881 square feet of industrial space at the Alpine Business Center on Maple Road in Germantown, Wis. Ryan Kopp and Steve Stewart of Milwaukee-based Inland Cos. brokered the deal.
GRANDVIEW, MO. — Kansas City, Mo.-based Block Real Estate Services LLC will open the 20,000-square-foot Grandview Medical Building Oct. 31 in Grandview, Mo. Located at 7201 E. 147th St., the roughly $4 million building will serve as an addition to New Grandview Triangle. Tenants include Hickman Mills Clinic, Carondelet Health and Albers Medical Pharmacy.
BROOKFIELD, WIS. — Cincinnati-based Phillips Edison Strategic Investment Fund II has closed on the purchase of Brookfield Town Centre in Brookfield, Wis. for $15.4 million. The 188,000-square-foot retail center is located on the southwest corner of West Capitol Drive and Brookfield Road. The center is anchored by Sendik's Fine Foods and includes more than two dozen shops and restaurants. The property was purchased from Harris Bank, which foreclosed on the property in 2010.
SPRINGFIELD TOWNSHIP, MICH. — Mid-America Real Estate Group's Detroit office has arranged a 4,944-square-foot lease in Springfield Towne Square, located at 9749 Dixie Hwy. in Springfield Township, Mich. Gabe Schuchman and Samantha Tullio of Mid-America represented the landlord, RCL Properties, in the transaction. The new tenant is Anytime Fitness.
FOREST PARK, OHIO — Stan Johnson Co. has brokered the sale of a 149,760-square-foot industrial building in Forest Park, Ohio to Chicago-based Brennan Investments for $6.1 million. The building is 100 percent occupied by National Bedding Co. Built in 2004, the property is situated on 12 acres at 1680 Carillon Blvd.
CEDAR RAPIDS, IOWA — Construction is complete for a new $38 million Armed Forces Readiness Center complex for the Iowa Army National Guard, located at 1500 Wright Brothers Blvd. in Cedar Rapids, Iowa. The project consisted of a 113,000-square foot Armed Forces Reserve Center and a 60,500-square-foot field and maintenance shop. Jeff Smith of Minneapolis-based Opus Design Build LLC was the project's management director. The complex opened Sept. 1.
