Midwest

$3.9 MILLION FIELD HOUSE UNDER WAY IN CHICAGO

by admin March 5, 2010

CHICAGO — Leopardo, serving as general contractor, is constructing the $3.9 million Valley Forge Park and Field House in Chicago. Located at 7001 W. 59th St., the 10,244-square-foot field house will feature a half-court gymnasium, fitness and clubrooms, locker rooms, a pantry, and a reception and administrative office. Additionally, the project includes a new play lot and improvements to the existing baseball field. Seeking LEED Silver certification, the project will feature geothermal systems for heating and cooling, rainwater harvesting and a pre-vegetated modular green roofing system. Booth Hansen is providing architectural services for the project, which is scheduled for completion in September.

March 5, 2010

50,157-SQUARE-FOOT OFFICE/WAREHOUSE BUILDING SELLS IN ILLINOIS

by admin March 5, 2010

WILLOWBROOK, ILL. — CenterPoint Properties has purchased a 50,157-square-foot office/warehouse distribution property in Willowbrook. A subsidiary of Prime Group Realty Trust sold the property for $4.3 million. Situated on 4.5 acres at 7100 Madison, the property consists of 60 percent office and 40 percent warehouse space. Trane Company, a HVAC equipment supplier, is currently leasing the property through December 2015. Jaime Fink, Jeffrey Bramson and Kenneth Glomb of Holliday Fenoglio Fowler represented the seller in the transaction.

March 5, 2010

Industrial Midwest

39,000-SQUARE-FOOT INDUSTRIAL PROPERTY SELLS IN MILWAUKEE

by admin March 5, 2010

MILWAUKEE — Moeller Real Estate has acquired an industrial property, which is located at 8600 W. Bradley Road in Milwaukee. Situated within Bradley Woods Business Park, the property offers 39,000 square feet of space. Cornerstone East sold the building for an undisclosed price. Kevin Barry and Kurt Van Dyke of Colliers Barry brokered the transaction.

March 5, 2010

Midwest Office

20,000-SQUARE-FOOT OFFICE LEASE CLOSES IN DOWNTOWN CHICAGO

by admin March 5, 2010

CHICAGO — Walgreens has signed a lease to occupy 20,000 square feet of office space at the Sullivan Center in downtown Chicago. The company will utilize the space to house its e-commerce department, which will open with approximately 65 employees. Sullivan Center, which is approximately 80 percent leased, is owned and managed by Joseph Freed and Associates.

March 5, 2010

Civic Midwest

LEOPARDO BREAKS GROUND ON $6.4 MILLION LIBRARY

by admin March 4, 2010

CHICAGO — Leopardo, serving as general contractor, has broken ground for the construction of West Humboldt Park Branch Library, which is located at 733 N. Kedzie Ave. in Chicago. Designed by Lohan Anderson, the $6.4 million, 14,800-square-foot project will offer community meeting space with computers and Internet access. Seeking LEED Silver certification, the library features geothermal systems for heating and cooling and a pre-vegetated modular green roofing system. Completion is slated for December.

March 4, 2010

Midwest Multifamily

PLACE/BV STUDENT HOUSING FUND CLOSES ON $58.8 MILLION CHICAGO PROJECT

by admin March 4, 2010

CHICAGO — Place/BV Student Housing Fund has closed on the construction loan for the $58.8 million Tailor Lofts in Chicago. Scheduled for delivery in August, the 477-bed Tailor Lofts will serve students of more than 20 Chicago-area colleges and universities. The project features 135 fully furnished units with full kitchens, including dishwashers, private bathrooms and views of downtown Chicago. Amenities include wireless Internet access, plasma televisions and DVRs in each unit, an activity center with pool tables and gaming systems, a computer lab, study rooms, a 24-hour fitness center, a high-pressure tanning dome, and a laundry center and trash chute on each floor. BVP Managers, a joint venture between Atlanta-based Place Properties, an affiliate group of companies and Chicago-based Blue Vista Capital Management, serves as the manager of the fund.

March 4, 2010

Industrial Midwest

HAGER PACIFIC CLOSES 112,500-SQUARE-FOOT LEASE IN MICHIGAN

by admin March 4, 2010

DEARBORN, MICH. — Newport Beach, Calif.-based Hager Pacific Properties has leased an 112,500-square-foot property in Dearborn to California-based Paul’s TV, an electronics retailer. The 5-year lease is valued at approximately $3 million. Located at 15080-15090 N. Commerce Drive within Fairlane Commerce Park North, the property offers warehouse, office and distribution space. The park provides immediate access to the Detroit Industrial Expressway, Southfield Freeway and U.S. Route 12. Randall Allman of CB Richard Ellis represented Hager Pacific; Marty Seltzer of Core Real Estate Services represented Paul’s TV in the transaction.

March 4, 2010

Midwest Office

85,612-SQUARE-FOOT OFFICE BUILDING SELLS

by admin March 3, 2010

BROOKFIELD, WIS. — Chicago-based Endeavor Cos. has acquired Executive Center IV, which is located at 235 N. Executive Drive in Brookfield. The three-story building offers 85,612 square feet of office space. A local developer sold the property for an undisclosed price. Tom Shepherd of Inland Cos. brokered the transaction.

March 3, 2010

Hospitality Midwest

MOTEL 6 TRADES HANDS IN AKRON, OHIO

by admin March 3, 2010

AKRON, OHIO — Sunstar Akron has purchased a Motel 6 property, which is located at 99 Rothrock Road in Akron. Motel 6 Operating (Accor Hospitality) sold the 103-room property for an undisclosed price. Chris Dewey of Jones Lang LaSalle Hotels represented the seller. The hotel will continue to operate under the Motel 6 brand.

March 3, 2010

Industrial Midwest

PEERLESS INDUSTRIES CONSOLIDATES TO ILLINOIS FACILITY

by admin March 3, 2010

AURORA, ILL. — Illinois-based Peerless Industries has signed a 1-year lease and purchase option for a 307,813-square-foot industrial space at 2300 White Oak Circle in Aurora. The auto/visual mounting solutions manufacturer plans to consolidate and relocate its global operations to the new facility, which was developed by Northern Builders in 1997. Situated on 22.5 acres, the building features 30-foot clear ceiling heights, 35 exterior docks and 400 parking spaces. Peerless has future plans to develop a 180,000-square-foot expansion on the site. Larry Goldwasser and Jay Maher of NAI Hiffman represented Peerless Industries; Jason West, Sean Henrick and Mike Magliano of Cushman & Wakefield represented the owner, Northern Builders. Additional terms of the lease were not released.

March 3, 2010

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