GRAND RAPIDS, MICH. — Grand Rapids-based NAI West Michigan has brokered the sale of the Ackman Furniture Building, a 192,280-square-foot industrial property located at 1400 Buchanan Ave. in Grand Rapids. Dave Smies of NAI represented the buyer, Notions Marketing. Chad Versluis, also of NAI, represented the seller, Howard Miller. The buyer plans to rehabilitate the property in the near-term.
BOLINGBROOK, ILL. — LG Electronics MobileComm USA has leased a 337,630-square-foot warehouse located within Highland Corporate Center in Bolingbrook. Building #3 is situated at 1251 W. 115th St. and features 30-foot clear ceiling heights, 40 exterior docks, four drive-in doors, significant trailer storage and T-5 track lighting. Jason West and Sean Henrick of Cushman & Wakefield represented the landlord, ML Realty Partners. Seth Kelly and Kirk Armour of CB Richard Ellis represented LG. Terms of the lease were not disclosed.
CHICAGO — Cohen Financial has arranged $23 million in non-recourse financing for a newly opened Whole Foods located in Chicago’s Lincoln Park neighborhood. The three-story, 85,301-square-foot grocery store is situated on 3.16 acres at 1550 N. Kingsbury St. It is the grocer’s third largest location, behind flagship stores in Austin, Texas, and London. It was developed by CRM Properties Group and designed by Gensler. Joel Simmons of Cohen arranged the loan, which includes a 5-year term and a fixed interest rate. The lender was Milwaukee-based TCF National Bank.
VINCENNES, IND. — A 12,414-square-foot shopping center shadow-anchored by a Walmart has been sold in Vincennes. Situated on 1.84 acres at 630 Kimmel Rd., the property is tenanted by Verizon Wireless and Sun Tan City. Christopher Hake of Thompson Thrift represented the seller, Old National Bank. Ryan Sarbinoff of Marcus & Millichap represented the buyer, Kimmel Square LLC. The acquisition price was not disclosed.
BOLINGBROOK, ILL. — Chicago-based Bridge Development Partners (BDP) has leased 119,000 square feet within Bolingbrook Corporate Center II to Honeywell International. The Morristown, N.J.-based tenant will take occupancy of the building, which is located at 101 E. Crossroads Pkwy. in Bolingbrook, for a 10-year term beginning in September. Honeywell plans to consolidate its division headquarters as well as its manufacturing and distribution operations into the new building. Andy Sexson of Rosemont, Ill.-based Colliers Bennett & Kahnweiler (CBK) and Kevin O’Donnell of O’Donnell Commercial Real Estate represented the tenant. Vern Shultz and Peter Bourke, also of CBK, represented the landlord. Bolingbrook Corporate Center II is owned by Bridge Development Partners in a joint venture with San Francisco-based McMorgan & Co. The 283,630-square-foot building was constructed in 2001 and features 30-foot clear ceiling heights, 28 docks and two drive-in doors.
KANSAS CITY, MO. — Colliers Turley Martin Tucker (CTMT) has brokered the sale of 720 Oak, an office building located in Midtown Kansas City. The building was purchased by The Builders’ Association, which will occupy 15,000 square feet, bringing occupancy up to 81 percent. A 3,850-square-foot vacancy remains on the second floor. The building will also be renamed the Builders’ Association Building. It recently underwent a $2.5 million renovation, which included new exterior, interior, landscaping and mechanical upgrades. D. Michael Posten of CTMT represented the buyer; Brian Bacon, also of CTMT, will handle leasing for the remaining space.
TROY, MICH. — Friedman Real Estate Group has negotiated the sale of a 10,000-square-foot industrial property, located at 2300 Bellingham in Troy. The seller was Prestige, Inc. The buyer, 2300 Bellingham LLC, will open its second Doggy Day Care location at the site. Paul Feldman and Larry Schultz of Friedman represented both parties in the transaction. The acquisition price was not disclosed.
ROCKFORD, ILL. — Financial Management Systems (FMS), a Schaumburg, Ill.-based call center company, has signed a long-term lease for a 28,000-square-foot office building located in Rockford. The property is situated at 4021 Morsay Dr.; it is expected to create 50 jobs immediately and as many as 350 over the next 24 months. Emmett Gray of locally based Whitehead, Inc., Realtors represented building ownership in lease negotiations. Terms of the deal were not disclosed.
GREENVILLE, ILL. — Donnewald Distributing Inc. has selected St. Louis-based The Korte Company as the design-build contractor for a new Anheuser-Busch distribution center in Greenville. The more than 146,000-square-foot facility will consolidate three operations into one building, including office and meeting/training space, a 70,000-square-foot controlled environment warehouse, a drive-thru truck loading bay and other ancillary areas. Site work is slated to begin immediately, with completion scheduled for May 2010.
LIBERTYVILLE, ILL. — McShane Development Company/MetLife Real Estate Investments industrial development alliance has leased 58,980 square feet of manufacturing/office space within Liberty Point Corporate Center to Premier Packaging Systems Inc. Premier Packaging Systems will occupy a portion of Liberty Point II, which is located at 1500 Harris St. The firm plans to utilize the space for the execution of its assembly, storage, distribution and fulfillment operations. The customized space will include 2,000 square feet of office space, 58,000 square feet of distribution and assembly space, four truck docks and one drive-in door. Tenant occupancy is slated for September. Ryan Bain, Zachary Graham, Brett Kroner and Keith Puritz of CB Richard Ellis represented the McShane/MetLife alliance; John Pikarski of JD Partners represented the tenant.