Midwest

NOVAK COMPLETES TWO JEWEL-OSCO RENOVATIONS

by admin May 30, 2009

WAUKEGAN AND CHICAGO, ILL. —Chicago-based Novak Construction has completed renovations for two Chicagoland Jewel-Osco grocery stores. The first store is located in the suburb of Waukegan and the second is located on Stoney Island Drive in Chicago. Construction at both locations included new electrical, mechanical and refrigeration systems; new flooring; and new wall finishes, décor, fixtures and display cases. The owner of both locations is Itasca, Ill.-based Supervalu; the architect was Des Plaines, Ill.-based Camburas & Theodore Ltd.

May 30, 2009

TRANSWESTERN DISPOSES OF 170,363-SQUARE-FOOT OFFICE BUILDING

by admin May 29, 2009

TROY, MICH. — Transwestern has negotiated the disposition of Long Lake Crossing, a Class A office property located at 1301 W. Long Lake Rd. in Troy. The three-story, multi-tenant building contains 170,363 square feet of space. It features a renovated lobby and common area, a new café, underground executive parking and was 90 percent occupied at the time of closing. It recently received certification for LEED for Existing Buildings: Operations & Maintenance. Gary Nussbaum, Bill Harvey and Thomas Gorman of Transwestern’s Investment Sales Group brokered the sale on behalf of the seller, Transwestern Investment Company LLC, a Transwestern affiliate. The buyer was a New York-based investor group. The acquisition price was not disclosed.

May 29, 2009

Civic Midwest

HENDRICKS & PARTNERS BROKERS $12.5 MILLION STUDENT HOUSING SALE

by admin May 29, 2009

KALAMAZOO, MICH. — Hendricks & Partners (H&P) has brokered the sale of University Club at Howard, a 120-unit student housing community located directly across from Western Michigan University in Kalamazoo. Situated on 9.3 acres, the community consists of six four-story buildings with all four-bedroom units. The property also contains a leasing office with two staff apartment units. It is fully pre-leased for the upcoming academic year. University Club at Howard was acquired out of receivership by Campus Habitat 16 LLC, a subsidiary of New York City-based Campus Habitat. As part of the deal, Campus Habitat will assume the property’s existing financing from Wells Fargo Bank, N.A., which is acting as trustee for the registered holders of J.P. Morgan Chase Commercial Mortgage Securities Corp. Kevin Larimer of H&P’s National Student Housing Advisory Group arranged the transaction as the court appointed disposition receiver. The special servicer for the property’s new financing is J.E. Robert Cos. H&P recently brokered two additional Midwest multifamily transactions. In Mehlville, Mo., Paul Cunningham of the firm’s St. Louis office represented both parties in the $2.05 million disposition of Vescovo Townhomes. The 29-unit community is located at 3605-3685 Vescovo Dr. The seller was Ballwin, Mo.-based Vescovo Townhomes LLC …

May 29, 2009

Midwest Retail

SACHSE NEARING COMPLETION FOR MOVIE THEATER

by admin May 29, 2009

WOODHAVEN, MICH. — Birmingham, Mich.-based Sachse Construction is nearing completion for Emagine Woodhaven, a 10-screen movie theater located in Woodhaven. The $6 million project consists of a 41,000-square-foot structure situated on 7 acres at 21800 Wildflower Blvd. Upon completion next month, the theater will include stadium seating and digital projection and sound technology. Sachse is constructing the project on behalf of Emagine Entertainment, which operates three additional theaters in Michigan.

May 29, 2009

Healthcare Midwest

LEOPARDO COMPLETES MEDICAL CENTER EXPANSION

by admin May 29, 2009

AURORA, ILL. — Leopardo has completed construction for a 12,400-square-foot expansion to the intensive care unit (ICU) at Rush-Copley Medical Center in Aurora. The $5.2 million project includes the addition of 14 new rooms to the ICU’s existing four rooms, as well as the replacement and upgrade of the area’s mechanical, electrical and plumbing systems. In addition, new medical gas work was completed, new equipment was installed and new finishes were added. Leopardo served as general contractor and Anderson Mikos Architects provided design services.

May 29, 2009

Midwest Retail

OLD NATIONAL BANK BUILDING SELLS FOR $3.4 MILLION

by admin May 28, 2009

HARRISBURG, ILL. — Los Angeles-based Investment Real Estate Associates (IREA) has arranged the sale of the Old National Bank building, located in Harrisburg, for $3.4 million. The 17,800-square-foot building is situated at Two E. Locust St. and was constructed in 1996. Chris Thompson of IREA represented the tenant-in-common buyers, AAY Arby’s LLC and ACT National 26 LLC. John Glass of Marcus & Millichap represented the seller, ONB Site 26 Landlord LLC.

May 28, 2009

Industrial Midwest

PAINE/WETZEL BROKERS 202,000-SQUARE-FOOT INDUSTRIAL LEASE

by admin May 28, 2009

WAUKEGAN, ILL. — Chicago-based Paine/Wetzel • ONCOR International has brokered a 202,000-square-foot industrial lease in Waukegan. Packaging firm Trifinity Partners will relocate its offices to the new building, located at 3600 Sunset Ave., from its old facility in Baltimore. Whit Heitman and Samuel Badger of Paine/Wetzel represented the landlord, CenterPoint Properties. The two were the sole brokers in the transaction. In addition, Trifinity had recently leased a 131,000-square-foot distribution facility, also located in Waukegan at 3731 Sunset Ave.

May 28, 2009

Midwest Office

THREE CORPORATE DRIVE RECEIVES ENERGY STAR

by admin May 28, 2009

LAKE ZURICH, ILL. — Three Corporate Drive, a Class A office building located in Lake Zurich, has received the Environmental Protection Agency’s Energy Star designation. The three-story, 200,000-square-foot building is situated within Kemper Lakes Business Center, a business park owned by BPG Properties. Energy-efficient improvements to the building included retrofitting and replacing lighting fixtures with high-efficiency T-8 lamps, the installation of LED exit signs, and an energy management system that controls the HVAC and lighting systems. BPG worked closely with Cushman & Wakefield, the property manager of Three Corporate Drive, to gain the designation by increasing the building’s performance. Kemper Lakes Business Center is also undergoing a sustainable improvements program that includes controlling water and air emissions discharges; a paper, electronics and light bulb recycling program; the use of green cleaning supplies; and the use of rainwater and groundwater for irrigation.

May 28, 2009

Midwest Office

NAI WELSH BROKERS SALE OF 26,671-SQUARE-FOOT OFFICE BUILDING

by admin May 27, 2009

EDEN PRAIRIE, MINN. — NAI Welsh has brokered the sale of the Xata Building, a 26,761-square-foot office property located at 965 Prairie Center Dr. in Eden Prairie. The building is currently 100 percent occupied by Xata Corp. NAI’s Tim Prinsen, Bob Pounds and Kevin O’Neil represented the seller, HP Partnership. The building was acquired by Swervo Development Corp. for an undisclosed amount.

May 27, 2009

Civic Midwest

PARTNERSHIP FORMED TO BUILD LANDFILL POWER PLANT

by admin May 27, 2009

WILL COUNTY, ILL. — Waste Management and officials of Will County have announced a partnership to develop a landfill gas-to-energy plant at Prairie View Recycling & Disposal Facility, the primary landfill for Will County that is located near Wilmington. Initial plans call for the installation of three to four reciprocating engines, which will be able to produce 2.4 to 3.2 megawatts of electricity for the local grid. Waste Management will build and operate the facility, which should be operational by 2010. Will County plans to apply for federal economic stimulus funds for the renewable energy project, and the county expects to be able to contribute at least $1 million in stimulus funds toward the project once the grant process is complete. Prairie View is owned by the county and operated under a long-term agreement by Waste Management. In 2007, Waste Management announced plans to add 60 gas-to-energy plants to its network by 2013. Its 11 Illinois plants currently generate 41.5 megawatts of electricity — enough to power more than 35,000 homes.

May 27, 2009

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