CHICAGO — ProLogis has signed a fourth-quarter build-to-suit expansion agreement for 337,000 square feet with Bay Valley Foods, a provider of private label food products. Bay Valley Foods currently occupies 620,000-square-foot, LEED Silver certified facility at ProLogis Rochelle, which was developed in 2008 for the customer. The new project will be an expansion of Bay Valley's existing building. Bay Valley plans to use the new space as additional warehouse and distribution space. The 13.8-acre project is an expected $11.6 million investment.
RACINE, WIS. — Racine Unified School District has selected Bukacek Construction to construct a two-story addition and renovation at Fratt Elementary School, which is located at 3501 Kinzie Ave. in Racine. The $2.9 million, 17,270-square-foot project will include a new library, a cafeteria and classrooms. The renovation of the existing space will provide a new art room, a band room and a speech room. Boer Architects is providing architectural services for the project, which is scheduled for completion in June 2011. Upon completion, the project is expected to achieve LEED Silver certification.
CHICAGO — Strategic Storage Trust Inc. has acquired three self-storage facilities totaling 281,000 rentable square feet with approximately 2,030 units. The assets include 1000 E. 95th Street in Chicago, which offers 690 units with 72,000 rentable square feet; 2244 S. Western Ave. in Chicago, which features 590 units with 59,000 rentable square feet; and 5701 W. Ogden Ave. in Cicero, Ill., which offers 750 units with 65,000 rentable square feet. The facilities will be rebranded under the SmartStop SM Self Storage trade name. Terms of the transaction were not released.
BRIDGETON, MO. — The Junior College District of St. Louis, dba St. Louis Community College, has acquired the Marcasco Building, which is located at 3221 McKelvey Road in Bridgeton. Situated on approximately 9 acres, the 149,553-square-foot property sold for $5.5 million. The college plans to invest $3.6 million in renovations to the building, including a first phase upgrade of 27,000 square feet. The instructional space will include dedicated-purpose labs, eight to 10 classrooms, conference/meeting/seminar breakout rooms, a multipurpose room, computer training labs and a Prometric/Ceriport testing center. The college's phased move-in is scheduled to begin in spring 2011. Stephen Gwinnup of Coldwell Banker Commercial CRA represented the buyer; Cassidy Turley represented the sellers, Crusader LLC and Regions Bank, in the transaction.
NAPERVILLE, ILL. — MKW 1200 Warrenville Road LLC, a joint venture between Daniel Murphy, William Krug, Larry Krueger, and Wanxiang America Real Estate Group, has commenced the renovation of 1200 Warrenville Road in Naperville. The 330,000-square-foot vacant office building will receive a new state-of-the-art energy-efficient HVAC system and new building systems, washrooms and a lobby. FCL Builders is serving as general contractor; David McCarty of Chicago Design Network is providing architectural services for the project. MKW 1200 Warrenville Road LLC acquired the four-story office building, which was built in 1981. Bill Ellwood and Jeffrey Mann of CB Richard Ellis have been retained to lease the property.
LOMBARD, ILL. — Jones Lang LaSalle, acting on behalf of Dental Networks of America, has selected Elmhurst, Ill.-based J.C. Anderson Inc. to complete a 60,000-square-foot office build-out in Lombard. The project will utilize a portion of the existing space while adding new design features, including the construction of multiple offices, conference rooms, a kitchen area, break rooms, classrooms and private executive offices. Dental Network of America, a wholly owned subsidiary of Health Care Service Corp., a Mutual Legal Reserve Co., is relocating its corporate headquarters to 701 E. 22nd St. in Lombard from its previous location in Oakbrook Terrace, Ill. Partners by Design is providing architectural services and OWPP is serving as project engineer for the project, which is scheduled for completion in February 2011.
BOLINGBROOK, ILL. — The Chicago office of Tremont Realty Capital has arranged $8.6 million in financing for Crossroads Parkway, an industrial property in Bolingbrook. The 269,000-square-foot property was 56 percent occupied by one tenant at the time of closing. Michael Hart of Tremont arranged the loan, which was funded through a pension advisory lender. The 3-year loan provided for approximately 85 percent loan-to-cost. The borrower was a joint venture between Corum Real Estate and Equibase Capital Group.
GRAND RADIDS, MICH. — KRD LLC has purchased the Permalife Building, which is located at 2310 Breton Industrial Dr. in Grand Rapids. Byron Acquisitions/Chemical Bank sold the 53,000-square-foot industrial property for an undisclosed price. Chad Versluis of NAI West Michigan represented both parties in the transaction.
NORTH KANSAS CITY, MO., AND LAWRENCE, KAN. — Grubb & Ellis|The Winbury Group has brokered two industrial sales in Missouri and Lawrence. In the first transaction, Summers Holdings LLC acquired 42,600 square feet of industrial space at 110 W. 14th Ave. in North Kansas City. John Delzer of Grubb & Ellis represented the buyer; Bill Hershewe of Hershewe Real Estate Co. represented the seller, J2 Building Development, in the transaction. In the second deal, Mid-American Investments sold 10,200 square feet of industrial space at 1837 East 1450 Road in Lawrence to Ryan and Jennifer Schurle. Kelvin Heck of Grubb & Ellis represented the seller in the transaction. The acquisition prices of both transactions were not released.
LIVONIA, MICH. — Jason Brown of CBRE Capital Markets, Debt & Equity Finance, has arranged $1.87 million in first mortgage financing for a two-tenant retail property located in Livonia. A local credit union provided the financing at a sub 5.75 percent interest rate.