INDIANAPOLIS — Buckingham Cos. is planning to develop North of South, a mixed-use community in downtown Indianapolis. Located between Delaware Street and Virginia Avenue, the $150 million project is slated to include a Dolce Hotels and Resorts hotel, 320 luxury apartments, 40,000 square feet of restaurant and retail space and a 75,000-square-foot YMCA facility. The project is a part of a public-private partnership that includes the City of Indianapolis, State of Indiana and Eli Lilly & Co. Pending final approval, delivery of the first building components is scheduled for late 2011.
INDIANAPOLIS — National Commercial Auctioneers is auctioning a 190-unit multifamily building, which is located on Meridian Street in Indianapolis. The nine-story, 125,502-square-foot building offers studio, one- and two-bedroom units ranging in size from 351 to 1,325 square feet. Additionally, the 60-percent-occupied property includes on-site laundry facilities, access-card entry, free parking, four elevators and security cameras. The property will be up for auction on October 14, 2010.
CARBONDALE, ILL. — Southern Illinois University Carbondale has completed the development of Saluki Stadium and athletic facilities in Carbondale. Located on Saluki Way, the project was constructed by Holland Construction Services and J.E. Dunn Construction Co. The $38 million stadium facility offers 15,000 seats with more than 1,000 seats with chair backs and 14 air-conditioned suites. Holland provided construction services for the stadium, which was designed by Carbondale-based Image Architects. The athletic building and arena upgrades were completed by J.E. Dunn, and designed by Kansas City, Mo.-based 360 Architecture. The new Boydston Center houses locker rooms, meeting rooms and staff offices. The overall construction costs for the first two phases is approximately $78 million.
CHICAGO — Meridian Capital Group has negotiated a $58 million loan for Burnham Center, a 22-story office building located at 111 W. Washington St. in Chicago. The 579,800-square-foot building is owned by the Harbor Group. Meridian arranged a $46 million first mortgage loan and a $12 million mezzanine loan to recapitalize the property's outstanding first mortgage note and preferred equity investment. Wells Fargo provided the senior loan, while Redwood Trust provided the mezzanine loan. Meridian's Ronnie Levine and Tal Savariego negotiated the transaction.
CHICAGO — SkinnyCorp LLC, the parent company of Threadless, has signed a lease for a 45,000-square-foot warehouse property in Chicago. SkinnyCorp plans to use the property for executive offices and distribution of apparel for Threadless, an Internet-based seller of custom-designed t-shirts. Daniel McCarthy of Jones Lang LaSalle represented the tenant; Wayne Shulman and Tim Thompson of HSA Commercial Real Estate represented the landlord, Chicago-based JRG Capital Partners, in the transaction. Details of the long-term lease were not released.
WEST BEND, WIS. — Time Investment Co. has acquired 100 North Sixth Avenue in West Bend. The company plans to relocate its headquarters to the 15,042-square-foot office property. Time Investment is a direct sales financing company and plans to relocate more than 40 employees to the new facility. Blue Cross Blue Shield of Wisconsin sold the property for an undisclosed price. Mike Steer of Coldwell Banker represented the buyer; Kurt Klapperich of CB Richard Ellis' Milwaukee office represented the seller in the transaction.
CHICAGO — Essex Realty Group has brokered the bulk sale of six townhomes, which are located at 7002-16 W. Medill in Chicago's Montclare neighborhood. The asset consists of six three-bedroom/2.5-bath row-house style townhomes and includes 12 garage spaces. Jim Darrow and Jordan Gottlieb of Essex represented the undisclosed buyer, which acquired the property for $1 million. The seller was not disclosed.
HOBART, IND. — Foremost Groups has signed a lease for 50,000 square feet of industrial space at 6221 NorthWind Parkway in Hobart. Foremost is a manufacturer and distributor of bathroom and kitchen fixtures. John Jurisa of Partners Real Estate represented the tenant; George Cibula, Richard Daly and Chris Gary represented the landlord, Becknell Development, in the transaction. Terms of the lease were not released.
BYRON CENTER, MICH. — Claymore Solutions LLC has purchased an industrial property, which is located at 8505 Piedmont Industrial Parkway SW in Byron Center. The 23,668-square-foot property sold for an undisclosed price. Chad Versluis of NAI West Michigan represented the buyer; Versluis and David Smies, also of NAI West Michigan, represented the seller, Huntington Bank, in the transaction.
CHICAGO — RED Belmont has purchased a two-building industrial property at 2710-18 W. Belmont in Chicago. Republic Bank sold the 7,800-square-foot property, which is situated on a 12,000-square-foot site. Megan Meyer of Chicago Industrial Real Estate represented the buyer; James Hodur of Coldwell Banker Commercial represented the seller in the transaction. The sales price was not released.