DETROIT — The Charter County of Wayne, Ill., recently renewed its lease at the Penobscot Building, which is located at 645 Griswold in Detroit. The county leases 145,030 square feet at the property, which is owned by FFMC, receiver of Penobscot. Steve Eisenshtadt of Friedman Real Estate Group represented the landlord in the transaction. Penobscot is managed by Finsilver/Friedman Management Corp., a Friedman company.
AURORA, ILL. — Liberty Property Trust's Liberty Business Center Aurora #4 building has received LEED Gold certification. Located at 900 Bilter Road in Aurora, the 436,363-square-foot warehouse property features T-5 high output lighting, low VOC adhesives, sealants, paints and coatings, and composite wood products. The construction process recycled 95 percent of construction debris and 15 percent of the materials used in the building's construction contained recycled content.
EAST DUNDEE, ILL. — Laundry King has purchased a 9,088-square-foot retail building, which is located at 610 S. Dundee Ave. in East Dundee. The buyer plans to convert the property into a laundry mat. Trend Carpet and Tile sold the facility for an undisclosed price. Paul Montes and Eric Spiess of Inland Real Estate Brokerage represented the seller in the transaction.
GLENWILLOW, OHIO — Superior Beverage Group has signed a build-to-suit deal for a 511,167-square-foot headquarters office and distribution facility in Glenwillow. The center will be located within Diamond Business Park, a 212-acre, rail-served industrial park. Superior, a of Miller and Coors products in Northeast Ohio, is relocating its headquarters to the new facility from Youngstown. Geis Construction is the design/build general contractor for the project, which is being developed by Hemingway Development.
LOMIRA, WIS. — Badger Lomira LLC has purchased 55,826 square feet of space for an undisclosed price. The property is located at 990 Richard St. in Lomira. Curt Pitzen and Jon Packee of NAI MLG Commercial represented the seller, R.E. Phelon Co., in the transaction.
BROOKFIELD, WIS. — 3MG Future Investments has acquired a 33,145-square-foot office building, which is located at 165 Bishops Way in Brookfield. The property sold for $1.63 million. The seller was not disclosed. Joe Lak and Mike Wanezek of Inland Cos. brokered the transaction.
CHICAGO — Located at 222 W. Erie St. in Chicago's River North District, the 26-story Flair Tower recently celebrated its grand opening. Developed by a joint venture between McCaffery Interests, RREEF and The Taxman Corporation, the high-rise building features 198 luxury apartments and 9,500 square feet of retail space. The property offers a landscaped pool deck with an outdoor fireplace, a dog run, a Jacuzzi, a Club Room, a Billiards Room, a lobby with a fireplace and a 24-hour concierge service. The residential portion features a range of floorplans, including convertibles and three-bedroom penthouses. Apartment units feature granite kitchens, stainless steel appliances, private balconies, floor-to-ceiling windows and customizable accent wall colors. Designed by Antunovich Associates and constructed by W.E. O'Neil Construction Co., the tower is poised to be the first LEED-certified building the River North submarket. Green elements include locally produced and recycled building materials, water-efficient plumbing fixtures, low VOC-emitting paints and sealants, and landscaped roof terraces. McCaffery will serve as a third-party management company for the property.
SCHILLER PARK AND BURR RIDGE, ILL. — Krusinski Construction Co. is building out a 13,000-square-foot space for the Government Services Administration (GSA), which is a tenant at 5100 N. River Road in Schiller Park. Additionally, Krusinski recently completed a 37,000-square-foot build-out project for GSA in the same building, which is owned by RREEF. Reitan Architects provided architectural services for both projects. In Burr Ridge, the company is fast-tracking an interior renovation project for Quinlan & Fabish Music Co. The project includes a 5,000-square-foot office expansion to the existing 54,000-square-foot building. The new space will include an instrument repair space with speciality work stations and an ultrasonic room. Ware Malcomb is providing architectural services for the project.
BAY CITY, MICH. — Hoty Builders has completed the construction of a 7,980-square-foot office building in Bay City. The property, which is located at 1115 Washington St., is owned by Bay City GSA Properties. The facility is leased to the U.S. General Services Administration and houses the Social Security Administration. Additional details of the project were not disclosed.
Office development in the Minneapolis market is virtually at a standstill. Since the economy’s downturn, many projects have been shelved, and developers today are striving to locate aggressively priced, dispossessed buildings that can be repositioned and brought back to life for the next real estate cycle. The exceptions are highly visible build-to-suit projects. In September, Acosta, a sales and marketing company, plans to move into a new 65,000-square-foot building in the southwest suburb of Eden Prairie. Additionally, the law firm Hellmuth & Johnson is building 44,000 square feet of office space, topping three levels of covered parking at the intersection of Interstate 494 and Highway 169, also in Eden Prairie. Shadow space is an underlying issue affecting development in the Twin Cities. Until companies can absorb space they already lease but currently maintain as vacant, the development cycle will remain flat. Leasing activity is also quiet. Those businesses that are relocating are typically consolidating or otherwise downsizing. However, the U.S. General Services Administration is in the market for nearly 500,000 square feet of office space. Half of that is being spurred by a short-term need to relocate workers displaced by a $115 million federal stimulus funded renovation of the Bishop …