NOBLESVILLE, IND. — Ceres Enterprises has held the grand opening for the new Cambria Suites in Noblesville. The hotel features 132 suites and three meeting rooms with more than 3,000 square feet of space. Amenities include a restaurant, a fitness center with an indoor swimming pool and a spa, and a 24-hour convenience store. The hotel is also within walking distance to the Verizon Wireless Music Center and the Hamilton Town Center shopping center. Ceres owns and operates the hotel under a franchise agreement with Choice Hotels International.
GALLIPOLIS, OHIO — Columbus, Ohio-based Cooper Commercial Investment Group has brokered the sale of Gallipolis Marketplace, a 25,950-square-foot retail property located in Gallipolis. Situated at 2145 Eastern Ave., the building is shadow-anchored by Walmart Supercenter. Tenants at the center include GameStop, Fantastic Sam's, AT&T, Radio Shack, Sally Beauty Supply, Dollar Tree and others. Dan Cooper of the Copper Group represented the seller, Developers Diversified Realty Corp. The acquisition price was not disclosed but the property traded at an 8.75 percent cap rate.
CHESTERFIELD, MO. — The St. Louis office of Walton Construction has completed Chesterfield Medical Institute, a two-story, 20,000-square-foot ambulatory surgery center and medical office building located in Chesterfield. Tenants at the $6.8 million project include Laser & Dermatologic Surgery Center, West County Dermatology and Generation Dental Group. The project architect was Feeler Scheer Architects.
MONTGOMERY, ILL. — Inland Real Estate Brokerage has negotiated the sale of a 12,903-square-foot retail center located in Montgomery. The three-tenant property, which is situated near the intersection of Route 30 and Douglass Road, is currently occupied by a Merlin's Muffler and Sound Experience. The buyer, a Chicagoland investor, plans to bring in an auto repair shop as the third tenant. Rich Artman of Inland's Yorkville, Ill., office represented the buyer as well as the seller, a REIT. The property traded for $720,000.
LINCOLN, NEB. — A joint venture between Omaha, Neb.-based Dial Realty Corp. and Kinseth Hospitality Corp. has opened the Hampton Inn & Suites – Northeast I-80 in Lincoln. The four-story, 83-room hotel is located within the Salt Creek Center development at the interchange of Interstate 80 and North 27th Street. It features meeting space, an indoor swimming pool, a fitness center and a business center. Kinseth is operating the hotel under a franchise agreement with Hilton Hotels Corp.
MONROE, WIS. — Lee & Associates has completed six new leases at The Marketplace at Monroe, a new 31,000-square-foot shopping center currently under construction in Monroe. The new tenants include Maurice's, Dollar Tree, Anytime Fitness, The Cash Store, Verizon Wireless and Shoe Department. Currently, 6,200 square feet remains for lease at the center. Steve Doran and Jared Flesch of Lee & Associates represented the landlord and developer of the center, Memphis-based Marketplace Development, in all lease transactions.
ROCHESTER HILLS, MICH. — CB Richard Ellis (CBRE) has brokered a 17,235-square-foot industrial lease at 2667 Product Dr. in Rochester Hills. Active Tools USA will occupy the space and plans to use it for engineering product design and testing. Gene Agnone and Lauren Scarpace of CBRE's Detroit office represented the tenant in lease negotiations. The landlord is Product Drive Company LLC.
MADISON HEIGHTS AND WARREN, MICH. — L. Mason Capitani/CORFAC International (LMC) has negotiated two Michigan industrial leases. In the first transaction, Advanced Communications signed a lease for 13,587 square feet at 29815 John R Rd. in Madison Heights. Michael Grammatico and Garry Rogers of LMC represented the undisclosed landlord. In addition, Loadstar Removal Corp. signed a lease for an 11,200-square-foot building at 21986 Schmeman Ave. in Warren. Grammatico and Tom Jablonski, also of LMC, represented the tenant. The landlord was not disclosed.
ROMEOVILLE, ILL. — Meridian Design Build has completed construction for Bluff Point III Distribution Facility, located within Bluff Point Business Park in Romeoville. The building, which is situated at the intersection of Joliet and Bluff roads, totals 506,800 square feet. It features 30-foot clear ceiling heights, with the capability for up to 168 exterior docks and four drive-in doors. The developer of the project, as well as the rest of Bluff Point Business Park, is Land & Lakes Development Co. The project architect for Bluff Point III was Harris Architects.
ANN ARBOR, MICH. — The final phase of construction is complete for The Courtyards Student Apartments, an 896-bed student housing communication located at 1780 Broadway in Ann Arbor, adjacent to the North Campus of the University of Michigan. The community comprises three four-story buildings with a mix of one-, two-, three- and four-bedroom units, all of which are fully furnished. Amenities include barbecue and picnic areas, an outdoor badminton court, a fitness center, study and meeting rooms and a movie room with surround sound. The 282-unit first phase was completed in August 2008, and the 298-bed second phase opened this May. The Courtyards Student Apartments is owned by Ann Arbor Campus Housing LLC, an affiliate of Kensington Realty Advisors (KRA), and is managed by Allen & O'Hara Education Services, the property management subsidiary of Education Realty Trust. Kensington Marquette Partners LLC, another affiliate of KRA, developed the community along with Allen & O'Hara.