REYNOLDSBURG, OHIO — R Studio, an aerobic exercise facility, has leased 4,043 square feet of space at Brice Park in Reynoldsburg. Terms of the transaction were not released. Avi Abroms of Centro Properties Group provided in-house representation for the landlord, Centro Properties Group.
VALMEYER — Marcus & Millichap Capital Corp. has arranged a $26.5 million refinancing package for the U.S. National Archives and Records Administration National Personnel Records Annex Facility in Valmeyer. The property offers 398,862 square feet of Class A office space. Chad O'Connor of Marcus & Millichap's San Diego office arranged the financing for the property. Terms of the 18-year loan include an 18-year amortization schedule and a fixed 5.35 percent interest rate.
COLUMBUS NORTH, OHIO —VED-Verdas Hospitality has acquired a Motel 6 location in Columbus North. Situated on 1.7 acres at exit 116 off Interstate 71, the two-story property offers 46 rooms. Motel 6 Operating (Accor International) sold the hotel for an undisclosed price. Jones Lang LaSalle Hotels represented the seller in the transaction.
ATCHISON, KAN. — Agree Realty Corp. has purchased a retail property in Atchison for $4.21 million. The property is currently net leased to CVS/Caremark Corp. Additional terms of the transaction were not disclosed.
PLAINFIELD, ILL. — Tennessee-based OHL has leased 507,544 square feet of industrial space 281 Airtech Parkway in Plainfield. The tenant will use the property as a distribution facility for its customers. Andrew Morris, Jeremy Woods, Matt McGrady and Jon Shuel of Indianapolis-based Summit Realty Group, along with Randy Wolcott of Brentwood, Tenn.-based ProVenture, represented the tenant; the landlord, ProLogis, was self-represented in the transaction. Terms of the lease were not disclosed.
VERNON HILLS, ILL. — Children’s Physician Group P.C., an entity of Milwaukee-based Children’s Hospital and Healthcare System, has leased an office building at 701 Woodlands Parkway in Vernon Hills. The tenant plans to consolidate its offices in Gurnee, Libertyville and Buffalo Grove, Ill., into the 30,900-square-foot property. A tenant build-out project is currently under way at the property, with occupancy expected in October. Krusinski Construction is serving as general contractor for the build-out project, which was designed by Brubaker Architects. Irgens Development Partners’ Chicago team represented the tenant in the transaction. The landlord is Van Vlissingen & Co. Additional terms of the lease were not released.
CHICAGO — TCS Education System has signed a long-term lease for 29,000 square feet of office space at 350 West Mart Center Drive in Chicago. TCS is a non-profit network of specialized institutions that offers an effective approach to higher education and to preparing socially responsible, culturally competent professionals in the applied fields of psychology, health and human services, education and human development. Phil Utigard and Lou Jacobsohn of Transwestern’s Tenant Advisory Services represented the tenant in the transaction; John Dempsey of CB Richard Ellis and Scott Sessa of MMPI represented the undisclosed landlord.
Greater Cleveland’s office market is showing some signs of recovery, and this is being fueled by the many development projects in the works. Planned developments include a casino to be located in the Tower City area opening sometime in 2013 and a proposed Medical Mart facility, which will be located next to Cleveland’s convention center in the heart of downtown. Another projected office development is the East Bank project by Scott Wolstein, which will house the national headquarters for Ernst & Young and law firm Tucker-Ellis. The project will be the first phase of a planned office, retail and residential development at the edge of Cleveland’s historic warehouse district. Eaton Corporation also is planning a new 400,000-square-foot campus in the Chagrin Highland’s 630-acre corporate community on Cleveland’s east side, which will leave Eaton’s current building at 12th Street and Superior, in the central business district, with more than 300,000 square feet available. Other major deals in the works are the relocation of Huntington Bank (approximately 100,000 square feet) from its namesake historic property at East 9th Street and Euclid to the former BP building, which is now 200 Public Square. The iconic bank building is home to several large firms …
LINCOLN, NEB. — The City of Lincoln has signed off on Haymarket Arena, a $168 million arena that will replace Pershing Center in Lincoln. Situated within the $344 million West Haymarket Development revitalization project, the 16,000-seat arena will be home to the University of Nebraska men’s and women’s basketball programs. Designed by DLR Group, Bahr Vermeer Haecker Architects and Clark Enersen Partners, the facility will feature 32 suites and club and loge seating. The arena is expected to open in 2013.
MT. PLEASANT, WIS. — Principle Construction Corp. has completed a 40,742-square-foot build-out project for Menomonee Falls, Wis.-based Maysteel, a manufacturer of precision metal enclosures, assemblies and systems. Located at Park 94 Building #2 in Mt. Pleasant, the project included the installation of a 1,600-amp service, T5 lighting and a 2,000-square-foot office space. Maysteel plans to use the facility as a warehouse, manufacturing and assembly plant. HSA Commercial Real Estate owns the property, which was constructed in 2008. Cornerstone Architects provided architectural services for the build-out project.