CHICAGO — The Chicago and Boston offices of Holliday Fenoglio Fowler (HFF) have arranged $100 million in financing for a 1,617-unit, four-property multifamily portfolio. The financing includes a 10-year, $23.7 million loan for The Gates of Carlson Center, a 435-unit property located at 300 Carlson Parkway in Minnetonka, Minn.; a 7-year, $27.48 million loan for Fountain View on the Plaza, a 396-unit community located at 4800 Oak St. in Kansas City, Mo.; a 7-year, $17.7 million loan for the 486-unit Villages of Bogey Hills, located at 2200 Lake Ct. in St. Charles, Mo.; and a 10-year, $31.05 million loan for Jefferson at Dedham Station, a 300-unit property located at 1000 Presidents Way in Dedham, Mass. Mike Kavanau and Fred Wittmann of HFF arranged the financing through Freddie Mac for the borrower, RREEF.
Midwest
MUNDELEIN, ILL. — Deringer-Ney, a manufacturer of alloys, metal components, insert moldings and part assemblies, has completed the disposition of a 10.16-acre land parcel in Mundelein. Located at 1250 Townline Rd., the parcel was purchased by Medline Industrial for an undisclosed price. CB Richard Ellis’ Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham brokered the deal.
ALSIP, ILL. — AIM Fiber, a manufacturer of acoustical and insulation products for the automotive and appliance industries, has signed a long-term lease for 106,933 square feet of industrial space at 11939 S. Central in Alsip. Chris Gary of Darwin Realty & Development Corp., along with Jeff Moore of Southern Investors Realty, represented the tenant; Gary and Ryan Hanley of Darwin Realty represented the landlord, First Industrial, in the transaction. Additional terms of the lease were not disclosed.
MADISON, WIS. — Emerson Charitable Trust and Emerson Electronic have completed the disposition of a 45,760-square-foot office building and a 6.93-acre adjacent lot. Hallick Real Estate Holdings purchased the properties, which are located in Madison, for more than $5 million. The buyer plans to use the facility for CPM Marketing Group, which is headquartered in Madison. Craig Stanley of Siegel-Gallagher Madison, along with Paine/Wetzel of Chicago, represented the buyer in the transaction.
KANSAS CITY, KAN. — Aaron’s Inc. has signed a 10-year lease for 123,735 square feet of industrial space at 1 Kansas Avenue in Kansas City. The new Class A warehouse distribution facility is owned by Prime Investments. Whitney Kerr of Colliers Turley Martin Tucker – Kansas City represented the tenant; Paul Neal of Grindstone Industrial Properties represented the landlord in the transaction.
NILES, ILL. — The Missner Group has completed two tenant build-outs at the Howard Industrial Center, which is located at 6420 W. Howard in Niles. The first project included the construction of office space, a conference room and a viewing and concession area for Energy Volleyball Club’s 42,000-square-foot space at the center. Additionally, The Missner Group completed the tenant build-out for Jump!Zone Party and Play, which leases 20,000 square feet at the center. Originally constructed in the 1950s, Howard Industrial Center is comprised of two buildings totaling 400,000 square feet. The property is a joint development of The Principal Financial Group and The Missner Group.
BLOOMINGTON, MINN. — Kellogg Co. has signed a lease for 12,000 square feet of office space at Northland Executive Office Center in Bloomington. The center is currently undergoing a renovation and will be renamed as Northland Center. Kellogg, which will employ approximately 40 to 50 people at the facility, plans to take occupancy in December. Jim Damiani of Welsh represented Kellogg; Dan Wicker of NorthMarq represented the ownership, United Properties, in the transaction.
SHILOH, ILL. — Metro Asset Group and Shiloh-based J2K Development have broken ground for the development of Cedarhurst of Shiloh Assisted Living Community, which will be located at 429 S. Main St. in Shiloh. The three-story facility will offer 87 studio and one-bedroom apartments and an attached 20,000-square-foot, single-story memory care wing. Additionally, the center will feature a nurse call station, multiple gathering and living rooms, craft and activity spaces, a library, a wellness center, a fitness room, a full service beauty and barber shop, resident laundry rooms and private and common dining areas. IMPACT Strategies is serving as general contractor for the project, which is slated for completion in September 2010.
ROMEOVILLE, ILL. — Englewood Cliffs, N.J.-based LG Electronics USA has renewed its lease for 408,966 square feet of industrial space at Park 55, 875 Crossroads Parkway in Romeoville. The facility features 30-foot clear ceiling heights, 68 exterior docks and an ESFR sprinkler system. The property is owned by Duke Realty Corp. Jack Rosenberg and Frederick Regnery of Colliers Bennett & Kahnweiler represented the tenant in the transaction.
TWINSBURG, OHIO — Electric Sweeper Service Co. has leased 62,200 square feet of industrial space at 1933 Highland Rd. in Twinsburg. The company plans to use the facility for its headquarters. Terry Coyne of Grubb & Ellis facilitated the transaction. The landlord is 1933 Highland Road LLC. Additional terms of the lease were not disclosed.