REDFORD, MICH. — Dalmay North America Automotive has acquired a 213,368-square-foot industrial property in Redford. Located at 24400 Plymouth Road, the property sold for $3.42 million. Gary Glotzhober and Raffi Derbabian of Colliers International represented the seller, NL Ventures V Plymouth, in the transaction.
KANSAS CITY, MO. — Seven tenants are joining Kansas City Power & Light District in Kansas City. The locally owned boutiques are City Girls, Denim Couture, Imagery, Label, Polka Dot Petals, Two Chic Boulevard and Urbantique. The shops will comprise The Garment District, a 4,000-square-foot space at 1350 Main St. in the downtown entertainment project. The stores are set to open in March. AMC Entertainment and The Cordish Company own the center.
MILWAUKEE — Milwaukee Institute of Art & Design (MIAD) has selected a 27,400-square-foot building, located at 252 E. Menomonee St., to house its new residence hall. General Capital Management Group, which owns the property, will redevelop and expand the building to accommodate the planned 250-bed resident facility. The company plans to add six stories on top of the existing two-story structure. The Historic Third Ward Association reviewed the architectural plans for the project, which is awaiting final approval.
DETROIT — Boost Mobile has signed a lease for 1,280 square feet of retail space in Riverbend Plaza, which is located at 13226 E. Jefferson Ave. in Detroit. Details of the lease were not disclosed. Adam Goodman and Gabe Schuchman of LaKritz-Weber & Co. represented the landlord, Riverbend Properties, in the transaction.
WICHITA, KAN. — Wichita-based KCBB Inc. has purchased Eastgate Plaza, a retail center located at Kellogg Street and Rock Road in Wichita. Developers Diversified Realty Corp. sold the 253,977-square-foot property for an undisclosed price. The center was 83.5 percent occupied with tenants, including Burlington Coat Factory, Barnes & Noble, TJ Maxx and OfficeMax. Christian Ablah of Classic Real Estate represented the buyer; CB Richard Ellis’ George Good, Robert Mahoney, Richard Frolik, Christian Williams, Derrick Almassy and David Hickman represented the seller in the transaction.
OAKWOOD, OHIO — JGK Enterprises has acquired the former McStay Engineered Products facility, located at 7325 Fairoaks Road in Oakwood, for $400,000. The 14,465-square-foot facility features 6,000 square feet of office/showroom space and an 8,465-square-foot warehouse area. The buyer, which manufactures cut and shaped granite, plans to use the property for sales, a showroom and a fabricating warehouse. The facility is expected to open in the spring of 2010. Fred Herrera of CB Richard Ellis represented the buyer; W. Farley Helms and Brian Lenahan of Colliers Ostendorf-Morris represented the lender in the transaction.
OAK PARK, ILL. — Healthcare Trust of America (HTA) has closed an approximately $37 million first mortgage financing transaction. The 5-year loan was collateralized by Rush Medical Office Building, which is located on the campus of Rush Oak Park Hospital in Oak Park. HTA and the building’s owner also signed an agreement that provides for the possible future acquisition of the building and land by HTA, an ongoing HTA right of first refusal and other opportunities. The property is currently leased by Rush University Medical Center. The lease runs through 2019, subject to extension rights of the lessee.
COLUMBUS, OHIO — J Rosenbusch and Matt Gocksetter of Marcus & Millichap represented Winthrop Realty Trust in the disposition of Cross Key Row, a 144-unit REO multifamily property located in Columbus. A local investor acquired the property for $725,000 in an all-cash transaction. Built in 1971, the property offers one- and two-bedroom garden units and was 30 percent occupied at the time of closing.
BATTLE CREEK, MICH. — Princeton, N.J.-based Covance is developing a nutritional chemistry and food safety laboratory in Battle Creek. The company plans to invest $14 million to acquire and redevelop a 30,000-square-foot building on East Hamblin Avenue for the laboratory, which will be affiliated with the National Center for Food Protection in Battle Creek. Completion is expected by the fourth quarter of 2010. The new facility will support clients in the region across a wide range of testing, including a significant expansion in the company’s microbiological food safety testing capabilities. The company is slated to receive approximately $4.3 million in combined financial incentives from the state of Michigan and the city of Battle Creek. Additionally, Covance entered into a 7-year, $42 million strategic services contract with Kellogg Co., which will be an anchor tenant in the new facility.
CHICAGO — The Adler School of Professional Psychology has signed a 15-year lease for 100,796 square feet of office space at One North Dearborn Street in Chicago. The leased space includes the entire 15th and 16th floors as well as 2,500 square feet of ground-level space. The school plans to begin occupying the space on January 1, 2011. OWP/P Cannon Design is providing architectural services for the tenant build-out project, while Leopardo Cos. is serving as the general contractor. Phil Utigard and Scott Becker of Transwestern represented the Adler school; Kevin Purcell and Gary Denenberg of MB Real Estate represented the building ownership in the transaction.