CHICAGO — Glenn Housman of CB Richard Ellis’ Orlando office arranged a $35.5 million loan for the refinancing of The Buckingham, a 129-unit, 456-bed student-housing property located in the South Loop University District of downtown Chicago. The loan was arranged through Freddie Mac on behalf of The Buckingham LLC. Terms of the 7-year loan include a loan-to-value of 70 percent and a DSC of more than 1.50x.
SPEEDWAY, IND. — The Kroger location at Speedway Super Center, located at the intersection of Crawfordsville Road and Interstate 465 in Speedway, has reopened after a more than $9 million expansion and renovation project. The new 94,000-square-foot store is the largest Kroger location in metro Indianapolis. Bob Pionke provided in-house representation for the center’s owner, Centro Properties Group.
KANSAS CITY, KAN. — Sealy Mattress has signed a lease for 121,500 square feet of industrial space at 435 Riverpark in Kansas City. Premier Investments leased the property for an undisclosed price. Additional terms of the 10-year lease were not disclosed. Paul Neal of Grindstone Industrial Properties brokered the transaction.
NAPERVILLE, ILL. — Suit House has leased 25,650 square feet of retail space at Westridge Court, which is located on the corner of Route 59 and Aurora Avenue in Naperville. The recently opened store specializes in men’s apparel. John Graves of Oakbrook, Ill.-based SRS Real Estate Partners represented the tenant; Brad Ratajczak provided in-house representation for the owner, Centro Properties Group.
MADISON, WIS. — T. Wall Properties has completed the development of a three-story office building, which is located within American Center on the eastside of Madison. The estimated $5.2 million, 45,000-square-foot property will be named after Johnson Bank, which will occupy the first floor. Horizon Construction Group is expected to occupy the third floor of the building. The facility features a fitness center with shower rooms, underground parking and a boardroom for tenant use. Additionally, the building features green elements, including high-performance floor-to-ceiling windows, waterless urinals, dual-flush toilets, low-flow faucets and a computerized HVAC control system. Plunkett Raysich Architects designed the property.
WILMETTE, ILL. — Reed Construction has completed the construction of the first Beal Bank branch in Illinois. Located at 3232 Lake Ave. in Wilmette, the 1,400-square-foot facility features a granite wall and millwork, which was completed by Herner Geissler Woodworking. Nelson provided architectural services for the project. CB Richard Ellis represented the owners, Dallas-headquartered Beal Bank.
ROLLING MEADOWS, ILL. — Grubb & Ellis has brokered the sale of a 48,000-square-foot office property, which is located at 2900 Golf Road in Rolling Meadows. Jani-King purchased the property for an undisclosed price. The buyer plans to occupy 15,000 square feet of the building and market the remaining 33,000 square feet for lease. In addition to the 48,000 square feet of office space, the building offers a 28,000-square-foot basement. The sale also included an adjacent 3.5-acre land parcel. Grubb & Ellis’ Craig Cassell and Jim Ward represented the buyer, while the firm’s Vince D’Amico and Dirk Riekse represented the undisclosed seller.
AURORA, ILL. — Leopardo Cos. has recently completed the $108 million Aurora Police Headquarters and Branch Court in Aurora. Located at 1200 E. Indian Trail, the facility houses 500 public safety employees, three bureaus, 11 police divisions, a 911-emergency call center and a branch court house. The campus consists of a 154,000-square-foot police headquarters building, which houses the branch court and the 911-emergency call center; a 41,000-square-foot training and support building that contains a firearms range, evidence storage and forensic examination laboratories; and a 204,000-square-foot, 500-car parking garage. The facility was designed and constructed to achieve LEED Gold Certification. McClaren, Wilson & Lawrie along with Cordogan Clark and Associates provided architectural services for the project.
CLEVELAND — Healthland, a manufacturer of small retail items, has purchased a 12,000-square-foot flex property, which is located at 4502 Prospect Road in Cleveland. The facility features 6,000 square feet of warehouse space and 6,000 square feet of future office space. Healthland is relocating from its current location in Cleveland Heights, Ohio. Scott Garson of NAI Daus represented the seller, MDZJ Properties, and the buyer in the transaction. The acquisition price was not disclosed.
EVANSVILLE, IND. — Yerolemou and Son, an Evansville-based hotel and restaurant operator, has acquired Microtel Inn & Suites in Evansville. Local investment group Professional Developers sold the 83-room property for an undisclosed price. The buyer plans to renovate and reposition the property to the Econo Lodge brand. The Mumford Company represented the seller in the transaction.