DETROIT — Boost Mobile has signed a lease for 1,280 square feet of retail space in Riverbend Plaza, which is located at 13226 E. Jefferson Ave. in Detroit. Details of the lease were not disclosed. Adam Goodman and Gabe Schuchman of LaKritz-Weber & Co. represented the landlord, Riverbend Properties, in the transaction.
WICHITA, KAN. — Wichita-based KCBB Inc. has purchased Eastgate Plaza, a retail center located at Kellogg Street and Rock Road in Wichita. Developers Diversified Realty Corp. sold the 253,977-square-foot property for an undisclosed price. The center was 83.5 percent occupied with tenants, including Burlington Coat Factory, Barnes & Noble, TJ Maxx and OfficeMax. Christian Ablah of Classic Real Estate represented the buyer; CB Richard Ellis’ George Good, Robert Mahoney, Richard Frolik, Christian Williams, Derrick Almassy and David Hickman represented the seller in the transaction.
OAKWOOD, OHIO — JGK Enterprises has acquired the former McStay Engineered Products facility, located at 7325 Fairoaks Road in Oakwood, for $400,000. The 14,465-square-foot facility features 6,000 square feet of office/showroom space and an 8,465-square-foot warehouse area. The buyer, which manufactures cut and shaped granite, plans to use the property for sales, a showroom and a fabricating warehouse. The facility is expected to open in the spring of 2010. Fred Herrera of CB Richard Ellis represented the buyer; W. Farley Helms and Brian Lenahan of Colliers Ostendorf-Morris represented the lender in the transaction.
OAK PARK, ILL. — Healthcare Trust of America (HTA) has closed an approximately $37 million first mortgage financing transaction. The 5-year loan was collateralized by Rush Medical Office Building, which is located on the campus of Rush Oak Park Hospital in Oak Park. HTA and the building’s owner also signed an agreement that provides for the possible future acquisition of the building and land by HTA, an ongoing HTA right of first refusal and other opportunities. The property is currently leased by Rush University Medical Center. The lease runs through 2019, subject to extension rights of the lessee.
COLUMBUS, OHIO — J Rosenbusch and Matt Gocksetter of Marcus & Millichap represented Winthrop Realty Trust in the disposition of Cross Key Row, a 144-unit REO multifamily property located in Columbus. A local investor acquired the property for $725,000 in an all-cash transaction. Built in 1971, the property offers one- and two-bedroom garden units and was 30 percent occupied at the time of closing.
BATTLE CREEK, MICH. — Princeton, N.J.-based Covance is developing a nutritional chemistry and food safety laboratory in Battle Creek. The company plans to invest $14 million to acquire and redevelop a 30,000-square-foot building on East Hamblin Avenue for the laboratory, which will be affiliated with the National Center for Food Protection in Battle Creek. Completion is expected by the fourth quarter of 2010. The new facility will support clients in the region across a wide range of testing, including a significant expansion in the company’s microbiological food safety testing capabilities. The company is slated to receive approximately $4.3 million in combined financial incentives from the state of Michigan and the city of Battle Creek. Additionally, Covance entered into a 7-year, $42 million strategic services contract with Kellogg Co., which will be an anchor tenant in the new facility.
CHICAGO — The Adler School of Professional Psychology has signed a 15-year lease for 100,796 square feet of office space at One North Dearborn Street in Chicago. The leased space includes the entire 15th and 16th floors as well as 2,500 square feet of ground-level space. The school plans to begin occupying the space on January 1, 2011. OWP/P Cannon Design is providing architectural services for the tenant build-out project, while Leopardo Cos. is serving as the general contractor. Phil Utigard and Scott Becker of Transwestern represented the Adler school; Kevin Purcell and Gary Denenberg of MB Real Estate represented the building ownership in the transaction.
CASTLETON PARK, IND. — Colorado-based Aurora Bank has relocated its Indianapolis call center to 33,000 square feet of space at 5920 Castleway W. Dr. in Castleton Park. The bank previously occupied 25,000 square feet at Heritage Park II in Indianapolis. Jones Lang LaSalle’s Dan O’Neil, John Robinson and Julie Kilpatrick provided occupancy planning, tenant representation and construction management services for the bank. Dave Moore of Colliers Turley Martin Tucker represented the ownership, BREOF Castleton Park LLC, in the transaction. Additional terms of the lease were not released.
CHICAGO — Marco Consulting Group has signed a lease renewal and expansion for 24,641 square feet of office space on the ninth floor of 550 West Washington Street in Chicago’s West Loop. The firm is expanding from its original 19,761 square feet to a contiguous 4,800-square-foot space for a total of 24,641 square feet. Lisa Davidson and Richard Schuham of Studley represented the tenant; Gary Denenberg of MB Real Estate represented the landlord, Beacon Capital Partners, in the transaction. Terms of the lease were not disclosed.
TINLEY PARK, ILL. — Alpha Med Physician Enterprises has broken ground for the construction of Alpha Med Center, a 40,000-square-foot medical office facility located at 17333 S. LaGrange Rd. in Tinley Park. The center will house on-site diagnostic and therapeutic facilities, as well as physician offices. Alpha Med Physician Group, which offers medical oncology, gastroenterology and radiation oncology services, will anchor the center. Alpha Med Physician Enterprises is planning to add 10,000 square feet of office space to the project for additional physician practices. Irgens Health Care Facilities is overseeing the development, design and construction of the prairie-style medical complex, which is slated for completion in November 2010. PDC Midwest is providing design/build services for the project. Citibank provided construction and permanent financing.