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IndustrialMidwest

$8.6 MILLION LOAN ARRANGED FOR ILLINOIS INDUSTRIAL PROPERTY

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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.

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IndustrialMidwest

GRUBB & ELLIS|THE WINBURY GROUP BROKERS TWO SALES IN MIDWEST

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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.

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CivicMidwest

61,000-SQUARE-FOOT SCOTTISH RITE HEADQUARTERS UNDER WAY IN ILLINOIS

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BLOOMINGDALE, ILL. — Leopardo is constructing a new headquarters facility for the Scottish Rite Cathedral Association's Valley of Chicago. Located at the corner of Lake Street and Medinah Road in Bloomingdale, the two-story, 61,000-square-foot property will feature a museum, a library, a traditional hall, kitchen facilities, a dining room for 290 people, a bar and game room, a grand hall, administrative offices and a 270-seat theater. Leopardo is serving as general contractor and construction manager; Thompson, Ventulett, Stainback & Associates is serving as architect; and Core Project Management Group is providing representation for the owner. The project, The Scottish Rite – Valley of Chicago, will be completed by year's end of 2011.

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CivicMidwest

$130 MILLION HOSPITAL EXPANSION OPENS IN INDIANAPOLIS

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INDIANAPOLIS — The $130 million expansion has opened at Community Hospital South in Indianapolis. The project includes a new five-story, 194,000-square-foot patient tower that boosts hospital capacity to 150 all-private rooms and six new surgical suites that accommodate multiple disciplines. The project also included a 100,000-square-foot renovation of existing spaces, including patient rooms, kitchen areas, central sterile, pre- and post-op units, daybed units and PACU. RTKL provided planning and design services for the project.

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MidwestRetail

43,112-SQUARE-FOOT RETAIL SPACE SELLS IN TAYLOR, MICH.

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TAYLOR, MICH. — Metro South Church has acquired a 43,112-square-foot retail space in Taylor. TSA Stores Inc. sold the property, which is located at 21080 Penn Road, for an undisclosed price. The buyer plans to relocate its nondenominational independent church to the new facility, which is a former Sports Authority location. Greg Hornby of Friedman Real Estate Group represented the buyer in the transaction. Terms of the deal were not released.

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IndustrialMidwest

34,216-SQUARE-FOOT INDUSTRIAL BUILDING SELLS IN ILLINOIS

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BUFFALO GROVE, ILL. — J&T Enterprise has acquired a 34,216-square-foot industrial property located at 1225 Busch Parkway in Buffalo Grove. Situated on 3.12 acres, the Class B property features three interior loading docks and 16-foot ceiling heights. Bill Novelli, Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented the buyer; Terry O'Hara and Paul Tesdal of Lee & Associates represented the seller, 1225 Busch Parkway, in the transaction.

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MidwestOffice

HFF COMPLETES SALE OF $11.4 MILLION LOAN IN INDIANA

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CHICAGO — Chicago-based Holliday Fenoglio Fowler (HFF) has completed the sale of an $11.4 million, first-mortgage loan secured by a 12-property, self-storage portfolio in Indiana. An affiliate of First City Commercial Corp. purchased the loan for an undisclosed price. The loan has a 6.36 percent coupon and 7-year remaining life. The self-storage collateral, which is located throughout central and southern Indiana, totals 3,320 storage units and is owned and operated affiliates of Storage Express. Bill Mitchell, Stuart Salins, Aaron Swerdlin and Doug McCarron of HFF represented the seller, a undisclosed major Midwest insurance company, in the transaction.

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IndustrialMidwest

PROLOGIS LEASES 70,000 SQUARE FEET IN CINCINNATI AREA

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HEBRON, KY. — ProLogis has signed a third-party logistics provider to its ProLogis Park 275 property in Hebron. The company will lease 70,000 square feet at Building Four, which is approximately 10 miles south of Cincinnati. The tenant signed a third-quarter lease for 30,000 square feet, followed by a fourth-quarter lease of 40,000 square feet. Additional terms of the transaction were not released.

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