WESTERN SPRINGS, ILL. — WSMC Partners has acquired the newly named Western Springs Medical Center, located at 4700 Commonwealth Dr. in Western Springs. The 18,000-square-foot building was recently renovated and is now entitled for medical and office uses. A planned addition to the existing building will expand the property to 22,000 square feet. Michael Van Zandt and Brian Edgerton of NAI Hiffman's office services group represented the buyers, which include Brian Howard of Chicago-based Stage Equity Partners. The seller and acquisition price were not released.
PLEASANT PRAIRIE, WIS. — Berwick Properties Inc. has acquired Prairie Ridge Market Place in Pleasant Prairie for an undisclosed price. Built in 1998, the three-building property was 40 percent occupied at the time of sale. The lead tenant is Cardinal Stritch University. Kenosha, Wis.-based Bear Commercial brokered the transaction.
GROVE HEIGHTS, MINN. — St. Paul, Minn.-based Paster Enterprises and Chicago-based Shiner Capital Partners have acquired Cahill Plaza in Grove Heights. The 69,000-square-foot shopping center is occupied by a 52,017-square-foot Cub Foods, a 6,165-square-foot MGM Liquor, Great Clips, RR Cleaners, C&A Nails, Edward Jones and Papa Johns. Terms of the transaction were not released.
MILWAUKEE — River Park Properties LLC and South Shore Park Properties have purchased a multifamily property located at 2803 and 2813 E. Belleview Place in Milwaukee. The 27,448-square-foot property offers 17 apartment units. Brian Gingrass of Commercial Property Associates represented the buyers; Brian Parrish and Samuel Dickman of The Dickman Company/CORFAC International represented the seller, Elliot H. Shafton Family Trust, in the transaction. The acquisition price was not disclosed.
GREENCASTLE, IND. — Crown Equipment Corp. has selected Browning Construction to construct the company's facility expansion in Greencastle. The $7 million project will include 136,110 square feet of warehouse space and 9,686 square feet of office space. Completion is scheduled for the fall.
CHICAGO — Reed Construction has completed a 25,000-square-foot renovation for the Fertility Centers of Illinois. The project included the demolition and replacement of drywall and flooring, and extensive millwork and painting. The facility now offers a renovated waiting area and nurse stations, an enhanced IVF lab, additional physician offices, ultrasound and on-site labs and a Third Party Reproduction facility. Atul Karkhanis Architects provided architectural services for the project.
BETTENDORF, IOWA — Continental Properties has selected McShane Construction's Southeast Region's office to construction Springs at Bettendorf in Bettendorf. Situated on 18 acres, the 15-building, 357,000-square-foot apartment property offers 316 apartment units ranging from studios to three-bedroom units, hardwood floors, washers/dryers, a swimming pool, a sun deck, a clubhouse with a fitness club and Internet cafe, and a maintenance buildings and car wash. Charlan, Brock & Associates is providing architectural services for the project, which is scheduled for completion in October 2012.
CINCINNATI — An affiliate of Yale Realty Services purchased the 9,850-square-foot Evendale Commons in Cincinnati from a joint venture between Anchor Properties and Miller-Valentine Group. It is part of an 80-acre mixed-use planned development. Featured tenants include Chipotle, Starbucks, GameStop and Verizon. The property is situated at the entrance to a new Walmart Supercenter-anchored complex. Colliers International represented the seller and Reed Weinberg and Fred Sutterlin of Louisville-based PRG Investments represented the buyer.
TROY AND ROCHESTER HILLS, MICH. — New York-based Savills has arranged $66 million in financing for two medical office buildings in Michigan and one medical office property in Louisiana. The Michigan properties include a 100,000-square-foot building on the campus of Beaumont Hospital in Troy and a 95,000-square-foot health and wellness center in Rochester Hills. The third property is a 99,000-square-foot medical office building located on the new replacement campus for Our Lady of Lourdes Regional Medical Office in Lafayette, Louisiana. In total, the properties are 95 percent leased. Milwaukee-based Landmark Healthcare Companies LLC owns the three properties. Savills arranged the permanent, fixed-rate financing through GE Capital, Healthcare Financial Services.
FT. WAYNE, IND. — Columbus, Ohio-based White Oaks Partners has acquired Regency Park, a 226-unit multifamily property in Ft. Wayne. The property was marketed for $5.9 million but the acquisition price was not released. The buyer plans to renovate the property's exterior and interior, including a pool renovation, new landscaping and remodeling unit kitchens and bathrooms. Tikijian Associates represented Miami-based LNR Partners LLC, the special servicer acting on behalf of the lender following a mortgage foreclosure. The property has been managed by Indianapolis-based Buckingham Companies since Buckingham's appointment as receiver in late 2009.