INDIANA — Three Indiana industrial properties operated by Meridian Automotive Systems totaling 790,000 square feet have been sold to a private party for an undisclosed price. The sale represents the liquidation of Meridian's significant property assets; the company initiated a Chapter 7 bankruptcy proceeding last August. The sale includes a 354,000-square-foot warehouse, located at 501 Northridge Drive in Shelbyville; a 233,000-square-foot property, located at 14123 Roth Road in Grabill; and a 203,000-square-foot building, located at 1890 Riverfork Drive in Huntington. Jim Fasone and Brian Dell of Summit Realty Group represented the buyer. BND Commercial's Karl Behrens and Signature Associates' Brad Viergever represented the owners of the Grabill and Huntington properties. Summit and Signature represented the owner of the Shelbyville property.
O’FALLON, MO. — BJC HealthCare has developed the 40,000-square-foot Tier III data center at its 48-acre Progress West HealthCare Center campus in O’Fallon. The property features an $8 million electrical design and installation project from PayneCrest Electric and Communications. The project features two independent ,12,470 kilovolt services offering a power supply of 25 million volt amps for each electrical system. PayneCrest also installed a building automation system designed by Johnson Controls, which routes all mechanical, electrical, fire alarm and security monitoring and control points to a central monitoring system. Clayco Construction Co. served as construction manager; Arcturis served as architect and civil engineer; CJL Engineering served as electrical and mechanical engineer and C&R Mechanical served as HVAC design assist.
ST. LOUIS — R, B & M LLC has purchased a 25,350-square-foot warehouse from a private party for an undisclosed price. The property is located at 1230 Pierce St. in St. Louis. National Electric Contracting Co. will move into the space from a smaller building, making the new property its headquarters. NAI DESCO's Floyd Sweeny represented the buyer.
LOCKPORT, ILL. — Meridian Design Build has completed the build-out of a medical office property in Lockport for MedProperties Group. The fast-tracked project included the construction of 10 exam rooms, private restrooms, shared waiting/reception areas and lockable file storage. The build-out was completed within Lockport Crossings Medical Center, a three-story, 54,000-square-foot medical office building. Areté 3 Ltd. provided architectural services for the project.
SCHAUMBURG, ILL. — Amada-Wasino America has signed a 10-year lease for a 40,000-square-foot industrial property in Schaumburg. Shorewood Properties leased the property, which is located at 2324 Palmer Drive. The lease is valued at more than $4 million. Amada plans to use the property as a showroom, system configuration area, parts storage and distribution. Mas Ishida of TOBI International represented the tenant; John Cassidy and Ken Franzese of Lee & Associates’ Chicago office represented the landlord in the transaction. Terms of the lease were not disclosed.
BEDFORD PARK, ILL. — GRM Information Services, a national record storage company, has acquired a 296,147-square-foot industrial building, which is located at 7123 W. 65th in Bedford Park. The new building features a 130-foot truck court depth, pre-cast concrete construction, 19 trailer spaces, 30-foot ceiling heights, 30 docks and four drive-in doors. Jeanne Rogers of Arthur J. Rogers & Co. represented the buyer; Michael Caprile, Mitch Adams, Ted Staszak and Stephanie Park of CB Richard Ellis represented the undisclosed seller in the transaction. The sales price was not released.
SOUTHFIELD, MICH. — Health Care Partners Inc. has signed a lease for 16,441 square feet of office space at 18000 W. Nine Mile Road in Southfield. The tenant is a full service home health care provider that assists individuals with a variety of home health care needs. Dan Verderbar of Friedman Real Estate Group represented the tenant in the transaction. FSP Southfield Centre Ltd. leased the property for an undisclosed price.
DETROIT — Farmington Hills, Mich.-based Burger Easton & Co. has brokered the sale of an industrial property in Detroit. Located at 8650 Mt. Elliott, the 317,000-square-foot building was listed for $2.75 million. David Wax of Burger Easton & Co. represented the buyer, Detroit Mt. Elliott Real Estate LLC, and the seller, 8560 Mt. Elliott Partnership, in the transaction. Additional terms of the sale were not disclosed.
DAYTON, OHIO — GE Aviation, an operating unit of GE, is planning to develop Electrical Power Integrated Systems Research and Development Center (EPISCENTER) near Dayton. The $51 million center will focus on several markets, including on- and off-highway hybrid and electric vehicles, and additional electric aircraft and marine applications. The Ohio Third Frontier Commission is providing a capital grant of up to $7.6 million for EPISCENTER. GE expects the center to be operational in 2012. Details of the project have not been released.
COLUMBUS, OHIO — Glimcher Realty Trust has closed on a 10-year, $46 million mortgage loan for the refinancing of Polaris Towne Center in Columbus. The new loan, which will be sold into the CMBS market, carries a fixed-interest rate of 6.76 percent. Bank of America originated the loan, which was used to repay the previous mortgage on the property of $38.6 million.