FRIDLEY, MINN., AND CONCORDIA, MO. — Colliers Turley Martin Tucker (CTMT) has arranged two industrial leases totaling 318,666 square feet. First, CTMT’s Minneapolis/St. Paul office completed a lease for 244,666 square feet at River Road Industrial Center, located at 4800 E. River Rd. in Fridley. The space will be occupied by BP Wind Energy North America. The value of the lease is $2.36 million. CTMT’s Ronald Scholder, Mark Kolsrud and Matthew Klein represented the landlord, ELT Minneapolis LLC. River Road Industrial Center is the largest industrial building in the state of Minnesota, totaling more than 2 million square feet in a single building. In the second transaction, CTMT’s Kansas City office arranged a 74,000-square-foot lease at 101 Davis Rd. in Concordia. The lease is valued at $2.35 million. CTMT’s Alec Blackwell represented the tenant, Old World Spices & Seasonings. The landlord is I-70 Storage Properties LP.
KANSAS CITY, KAN. — Kansas City, Mo.-based Grindstone Industrial Properties has brokered the sale of a 10,745-square-foot industrial building, located at 22 N. Sixth St. in Kansas City. Pat Murfey of Grindstone negotiated the transaction between the buyer, Mittal Patel Properties, and the seller, Randy A. Moore Properties. The acquisition price was not disclosed. In addition, Murfey arranged a 12,386-square-foot industrial lease at 74 S. James St., also in Kansas City. The tenant is Brauer Supply Co. and the landlord is Robert S. Ehinger Trust.
SOUTHFIELD, MICH. — Newmark Knight Frank has completed a lease for 13,498 square feet of office space on behalf of Compsat Technology. The property is located at 25330 Telegraph Rd. in Southfield. Mitchell Lipton and Ben Herman of Newmark Knight Frank represented the tenant in lease negotiations. The landlord and the terms of the transaction were not disclosed.
KANSAS CITY, KAN. — Turner Construction Co. has been selected to manage construction of a $55 million medical office building in Kansas City for The University of Kansas Hospital. The project, which is scheduled for completion in 2011, is being built to LEED certification standards. Located south of the hospital, the building will include 18 clinical departments that are currently scattered across the campus. Green features will include water-efficient landscaping, access to public transportation, energy performance optimization, thermal comfort controls, and the use of recycled and locally manufactured materials.
MARYLAND HEIGHTS, MO. — The redevelopment of a 47,000-square-foot office building in Maryland Heights is nearing completion. The project, spearheaded by HDA Architects and the building’s new owner-occupant, Intoximeters, included significant internal renovations and minor modifications to the building exterior. The $2.8 million renovation was initiated by Intoximeters after the company sought numerous new build sites throughout the St. Louis market, before deciding on the more cost-effective redevelopment route.
PLYMOUTH, MINN. — Comm-Works has signed a lease for 65,000 square feet within the Plymouth Corporate Center and will take occupancy in September. Along with the lease, building owner Carlson Real Estate Co. has initiated a major renovation of the common areas and exterior façade. Rich Reynolds, Jeff Jones and Michelle Culligan of AREA negotiated the lease on behalf of Comm-Works, which will utilize 40,000 square feet of office space and 25,000 square feet of warehouse space. Carlson was represented by Jim Freytag and Dave Marshinke of CB Richard Ellis.
DETROIT — Gary Grochowski and Jason Capitani of L. Mason Capitani have negotiated the acquisition of a 50,752-square-foot industrial building on behalf of Harry’s Auto Salvage. The buyer plans to use the faculity to satisfy expansion needs and as an off-site vehicle restoration center. The building, which is located at 3040 E. Outer Dr. in Detroit, was sold by Benz Incorporated.
COUNCIL BLUFFS, IOWA — General contractor Lund-Ross Constructers has begun work on the Harvester Artist Lofts, a 36-unit live/work apartment community in the Omaha, Neb., suburb of Council Bluffs. Artspace, a Minneapolis-based non-profit real estate developer purchased the four-story, 80,797-square-foot Harvester building to further its mission of building affordable live/work space for artists. Lund-Ross is overseeing the redevelopment and historic renovation of the building, which will feature 36 apartment units and 5,500 square feet of space for studio artists and compatible businesses upon completion.
CHICAGO — The Chicago office of NorthMarq Capital has arranged first-mortgage financing for two Chicago-area real estate transactions. Erik Kunz secured financing of $4 million for Calumet Business Park, a 225,000-square-foot industrial property located in Chicago. Financing was arranged through American Equity, and based on a 10-year term with a 25-year amortization schedule. In Homer Township, Ill., Kunz arranged $3.23 million for Bell Tower Plaza, a 37,023-square-foot retail property. The 15-year loan amortizes over 15 years, and was arranged for the borrower, a local investment group, by NorthMarq through its correspondent relationship with Columbian Mutual.
FRASER, MICH. — Troy, Mich.-based L. Mason Capitani has facilitated the sale of a 39,286-square-foot industrial building located at 17000 Fifteen Mile Rd. in Fraser for $675,000. The buyer, Bulldog Document Storage, acquired the property in order to expand its shredding and storage operations. Joseph DePonio and Jason Capitani of L. Mason Capitani represented both the buyer and seller in the transaction.