MELROSE PARK, ILL. — Spirit Distribution has signed a lease for 40,338 square feet of industrial warehouse space in Melrose Park. Located at 2680 W. Lake St., the property features 24-foot ceiling clearances, six docks and a small office area. Daniel Fanelli and Anthony Leeds of Darwin Realty & Development Corp. represented the landlord; Jason Lev and John Suerth of CB Richard Ellis represented the tenant in the transaction.
INDIANAPOLIS — The New York-based department store Shoppers World has opened a new store location at Felbram Plaza North in Indianapolis. The 85,000-square-foot store brings the retail center’s occupancy rate to 95 percent. Other tenants at the 185,589-square-foot center include Dollar Tree, Payless Shoes, GameStop, Fantastic Sams, MCL Restaurant, Firestone Tires, CiCi’s Pizza, Radio Shack and GNC. The center is owned by Nassimi Realty.
CHICAGO — M&S Pallets has signed a lease for 34,740 square feet of industrial space at 4042 W. Lake St. in Chicago. The company is relocating from Cicero, Ill. Terms of the lease were not released. Michael Nelson and Mark Nelson of Paine/Wetzel•ONCOR International represented the landlord, James Athanasopoulos, in the transaction.
WEST DUNDEE, ILL. — King Shan LLC is developing a 35,000-square-foot warehouse/distribution facility within Oakview Corporate Park in West Dundee. Designed by Opus Architects & Engineers, the facility is scheduled for completion in September. Opus North Corp. is providing design-build services for the project. Headquartered in Taipei, Taiwan, King Shan is a manufacturer of steel wire and metal fabrication. Noel Liston of Darwin Realty & Development represented both King Shan and Opus in the transaction.
CHICAGO — A private investor has acquired Madison Terrace, which is located at 3153 W. Madison St. in Chicago. The 96-unit multifamily property was listed for $3 million. The property features a mix of two-, three- and four-bedroom units in eight buildings. Ralph DePasquale of Hendricks & Partners’ Chicago office represented the seller, Atlanta-based LB Madison Terrace LLC, in the transaction.
NOVI, MICH. — Kongsberg Automotive has leased a 40,583-square-foot flex/R&D space at Novi Research Park, which is located at 27275 Haggerty Road in Novi. The company focuses on seat comfort, driver and motion control systems, fluid assemblies and industrial driver interface products. David Friedman of Friedman Real Estate Group represented the landlord, CSFB 2001-CP4 Haggerty Road LLC c/o Finsilver Friedman Management Co., in the transaction. Terms of the lease were not disclosed.
SOUTHFIELD, MICH. — Edison Oakland Public School Academy has acquired a 78,529-square-foot office space in Southfield. Schoolhouse Finance sold the property, which is located at 23777 Southfield Road, for an undisclosed price. The property will be used as a kindergarten through 12th grade charter school. Steve Eisenshtadt and Bob Moon of Friedman Real Estate Group represented the seller in the transaction.
CAROL STREAM, ILL. — S&S International has selected Principle Construction Corp. to construct a 43,500-square-foot building expansion at the company’s property at 457 St. Paul Blvd. in Carol Stream. The project includes a 40,000-square-foot expansion of the property’s manufacturing/warehouse space and a 3,500-square-foot expansion of its office space. Principle will install a 4,000-amp electric service system, two 25-ton and two 15-ton bridge cranes, an embedded steel rail and four interior docks. Additionally, Principle is constructing a new office space, which will be coordinated with the renovation of the current 4,000-square-foot office space. Richard Preves & Associates are providing architectural services for the project, which is scheduled for completion in July.
COOK, MINN. — Ryan Companies US has completed the construction of Carefree Living – Cook, a senior housing project in Cook. Owned by Spectrum Health Co., the 20,000-square-foot property features 16 assisted-living suites and 13 memory-care units. DJR Architects provided architectural services for the $3.1 million project.
INDEPENDENCE, OHIO — InterContinental Hotels Group has opened Crowne Plaza Cleveland South – Independence after a $4 million renovation project. Located at 5300 Rockside Road, the property features 179 guestrooms, more than 10,000 square feet of meeting space, a fitness center, an indoor pool, a business center, a restaurant and a lounge. The renovations included a new fitness center, a new boardroom and upgrades throughout the hotel. The hotel is owned by Rockside Hospitality and managed by American Resort Management, under a license agreement with a company in the InterContinental Hotels Group.