CHICAGO — Berlin Packaging has selected Reed Construction to construct a 20,000-square-foot build-out at the company’s new headquarters in Chicago. Located within a 25-story, Class A office building at 525 W. Monroe St., the build-out project includes custom millwork, display walls, custom acrylic signage, conference rooms, private office space and an open office area. Eastlake Studios is providing architectural services for the project, which is scheduled for completion this summer.
Midwest
RICHFIELD, MINN. — Daniel Trebil of NorthMarq Capital’s Minneapolis regional office arranged at $7.6 million loan for The Oaks on Pleasant. The 138-unit multifamily property is located in Richfield. Financing was based on a 10-year term with a 30-year amortization schedule. NorthMarq’s affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender, provided the financing.
OMAHA, NEB. — Jo-Ann Fabric and Crafts Stores is opening a 24,100-square-foot location in Omaha. Located at 132nd and West Center Road within Baker Square, the store will feature of variety of merchandise, including fabrics, crafts, frames, paper crafting materials, artificial floral, home accents, and finished seasonal and home décor merchandise. Construction of the new property is scheduled to begin in August, with completion expected in November.
GERMANTOWN, WIS. — NorthMarq Capital’s Minneapolis regional office has arranged a $10 million first mortgage loan for Aurora Healthcare Portfolio in Germantown. The two-building portfolio offers 92,377 square feet of medical office space. Daniel Trebil of NorthMarq secured the 13.5-year loan, which carries a 13.5-year amortization schedule. The financing was provided by FBL Financial Group.
REYNOLDSBURG, OHIO — R Studio, an aerobic exercise facility, has leased 4,043 square feet of space at Brice Park in Reynoldsburg. Terms of the transaction were not released. Avi Abroms of Centro Properties Group provided in-house representation for the landlord, Centro Properties Group.
VALMEYER — Marcus & Millichap Capital Corp. has arranged a $26.5 million refinancing package for the U.S. National Archives and Records Administration National Personnel Records Annex Facility in Valmeyer. The property offers 398,862 square feet of Class A office space. Chad O'Connor of Marcus & Millichap's San Diego office arranged the financing for the property. Terms of the 18-year loan include an 18-year amortization schedule and a fixed 5.35 percent interest rate.
COLUMBUS NORTH, OHIO —VED-Verdas Hospitality has acquired a Motel 6 location in Columbus North. Situated on 1.7 acres at exit 116 off Interstate 71, the two-story property offers 46 rooms. Motel 6 Operating (Accor International) sold the hotel for an undisclosed price. Jones Lang LaSalle Hotels represented the seller in the transaction.
ATCHISON, KAN. — Agree Realty Corp. has purchased a retail property in Atchison for $4.21 million. The property is currently net leased to CVS/Caremark Corp. Additional terms of the transaction were not disclosed.
PLAINFIELD, ILL. — Tennessee-based OHL has leased 507,544 square feet of industrial space 281 Airtech Parkway in Plainfield. The tenant will use the property as a distribution facility for its customers. Andrew Morris, Jeremy Woods, Matt McGrady and Jon Shuel of Indianapolis-based Summit Realty Group, along with Randy Wolcott of Brentwood, Tenn.-based ProVenture, represented the tenant; the landlord, ProLogis, was self-represented in the transaction. Terms of the lease were not disclosed.
VERNON HILLS, ILL. — Children’s Physician Group P.C., an entity of Milwaukee-based Children’s Hospital and Healthcare System, has leased an office building at 701 Woodlands Parkway in Vernon Hills. The tenant plans to consolidate its offices in Gurnee, Libertyville and Buffalo Grove, Ill., into the 30,900-square-foot property. A tenant build-out project is currently under way at the property, with occupancy expected in October. Krusinski Construction is serving as general contractor for the build-out project, which was designed by Brubaker Architects. Irgens Development Partners’ Chicago team represented the tenant in the transaction. The landlord is Van Vlissingen & Co. Additional terms of the lease were not released.