CHICAGO — The 51,117-square-foot, 2-story retail and commercial property Belden Cetnre, located at 2301-15 N. Clark in Chicago, has been sold for an undisclosed price. The seller, Commercial Property Management, was represented by Keely Polczynski of CB Richard Ellis' Chicago office. The self-represented buyer, a joint venture between Rosemont, Ill.-based ACG Equities and Chicago-based Purinton Development, plans to renovate and revitalize the property.
Midwest
COLUMBUS, OHIO — Ohio University is building an extension campus in Central Ohio using a $105 million donation from Columbus-based Osteopathic Heritage Foundations. The payment will be spread over 16 years from the foundation's usual annual outlay of about $13 million. The gift will also be used to add faculty and research on the Athens, Ohio, campus for diabetes and conditions striking the skeleton, muscles and nervous system. More than half of the gift — $67 million — will be used for three new buildings, which will open in 2014.
CHICAGO — Virginia-based The Harbor Group has purchased a 4-store retail portfolio, for approximately $28.37 million from Chicago-based Centrum Properties. Three of the properties are in Chicago and one is in Wheaton, Ill. Brandon Duff and Brad Feller with Stan Johnson Company's Chicago office represented both the buyer and the seller in the transaction.
GRAND RAPIDS, MICH. — A $4.82 million renovation and mini-perm loan was provided in Grand Rapids for the 31,139-square-foot Flat Iron building. The office building is a four-story property with street-level retail space. The loan was arranged by Colliers International's West Michigan office through Chicago-based Cohen Financial for the borrower, Grand Rapids-based Locus Development. The developer is focused on revitalizing and redeveloping unique urban properties.
AUSTINTOWN, OHIO — The 8,446-square-foot retail plaza Falcon Commons, located at 4774 Mahoning Ave. in Austintown, has been sold for $1.56 million to an undisclosed buyer. Both the buyer and seller were represented by the Cleveland-based Cooper Commercial Investment Group.
CHICAGO — The 45,000-square-foot build-out outpatient cancer center at Rush University, located at 1725 W. Harrison in Chicago, is now complete. The project tripled the size of the previous cancer care center. Loebl, Schlossman & Hackl provided the architectural services with Primera providing the engineering services.
CHICAGO — The 105,449-square-foot Heritage Shops at Millennium Park, located in Chicago, has sold for $31.6 million. The retail property is anchored by a 2-story LA Fitness. The buyer was New York-based Acadia Realty Trust. The seller, Chicago-based Mesa Development, was represented by Stan Nitzberg, Ben Wineman and Joe Girardi of Mid-America's Chicago office.
GAHANNA, OHIO — JP Morgan Chase Bank has leased 68,619 square feet of office space at 823 Tech Center Dr. in Gahanna from American Electric Power. Tom McGarity and Brian Douglas of Cassidy Turley's Columbus, Ohio, office were the sole brokers in the transaction.
CHICAGO — Chicago-based Pritzker Realty Group and Atlanta-based TriBridge Residential have create a new joint venture with an initial capital commitment of $75 million. The JV is seeking multifamily acquisitions and development opportunities across the South. It has already acquired property in Austin, Texas and Orlando, Fla.
CHICAGO — A 155,900-square-foot building in Chicago was purchased by Denver, Colo.-based DCT Industrial Trust for $3.4 million from an undisclosed seller. The building is currently 35 percent leased. Broker information was not provided.