ST. LOUIS — Raineri Construction has completed a $2 million renovation project for Downtown Urgent Care, a 2,600-square-foot medical clinic located at 916 Olive St. in St. Louis. The clinic is located on the ground-floor of the four-story, approximately 30,000-square-foot Truman Office Building. The project consisted of the construction of a 2,100-square-foot mezzanine level in the building that will be used by Downtown Urgent Care for future expansion. The project was completed for Dr. Sonny Saggar, who purchased the office building in 2008.
CHICAGO — Grubb & Ellis has brokered the purchase of a 21,800-square-foot office building, located at 557 W. Randolph St. in Chicago, for $2 million. The property was acquired by Actors’ Equity Association (AEA), which is expanding from its previous location at 125 S. Clark St. in Chicago. The actors’ union will initially occupy two of the building’s four stories beginning in the second quarter of 2010 and will lease out the remaining space. Mark Stables of Grubb & Ellis negotiated the transaction. Stephen DiPaola of AEA provided in-house representation. The building located at 557 West Randolph was constructed in 1855 and is one of only two buildings in the area to survive the Great Chicago Fire of 1871.
TOLEDO, OHIO — Toledo-based Health Care REIT has closed on $133 million in first-mortgage financing secured by 12 senior housing properties. The locations of the properties were not released, and they contain multiple levels of healthcare service. The loan carries a 10-year term and a 6.1 percent fixed interest rate. KayBank Capital Markets originated the loan and intends to sell it to Freddie Mac.
MINNEAPOLIS — Minneapolis-based NAI Welsh has negotiated the sale of a former meatpacking plant, located at 2815 Blaisdell Ave. in Minneapolis, for $3.6 million. The 3-acre site contains a 96,000-square-foot main building and a standalone 10,000-square-foot building, both of which will be razed to make way for a new clinic that is being constructed by the property’s buyer, Hennepin County Medical Center. NAI Welsh’s Brian Doyle and Eric Batiza represented the seller, M&O Uptown Investments. The buyer was represented by Mike Fleetham of NorthMarq.
WAUWATOSA, WIS. — Milwaukee-based RFP Commercial has brokered the sale of a 65,240-square-foot industrial building, located in Wauwatosa, for $2.4 million. The property is situated at 12121 W. Freerick St. RFP’s Paul McBride, Paul Flood and Scott Revolinski represented the seller. Both parties were undisclosed.
CHICAGO — Chicago-based architecture firm Loebl Schlossman & Hackl has been selected to provide planning and design services for the expansion of the outpatient cancer treatment center for Rush University Medical Center, located on the West Side of Chicago. The 39,200-square-foot treatment center will be located on the 10th floor of the school’s professional office building. The project seeks to centralize the school’s existing Coleman Foundation Comprehensive Care clinic and will also reserve space for the integration of other outpatient clinics in the future. The construction timetable was not released.
FARMINGTON HILLS, MICH. — Lee & Associates of Michigan has completed the sale of a 47,214-square-foot industrial property, located at 38955 Hills Tech Dr. in Farmington Hills. Jon Savoy, John Khami and Kevin Brady, all of Lee & Associates, represented the seller, NTH Investment Co. The buyer was Michigan Five Office LLC. The acquisition price was not disclosed.
BEMIDJI, MINN. — Minneapolis-based Kraus-Anderson Construction Co. has broken ground for the new Bemidji Regional Event Center, located in Bemidji. The 193,000-square-foot event center will be the home of Bemidji State University’s hockey program, and will also host concerts, conventions, trade shows, festivals and other events. The arena will be able to accommodate 4,000 spectators for hockey games and 6,000 for concerts. The convention center component of the project will include 10,000 square feet of divisible ballroom space and 4,000 square feet of meeting rooms. An outdoor plaza will be constructed adjacent to the building. The construction timetable was not released.
INDIANAPOLIS — Indianapolis-based Tikijian Associates has negotiated the $3.2 million sale of The Argyle on Mass Ave, a 36-unit multifamily building located on Massachusetts Avenue within the Arts & Theater District of Indianapolis. The three-story property features ground-floor and basement retail space, as well as 33 one-bedroom and three two-bedroom apartments on the second and third floors. Retail tenants include Aesop’s Tables Mediterranean Restaurant, Buon Gusto Unique Events and Michael’s on Mass. Tikijian Associates represented the seller, Tony Wishart. The buyer, Shelbyville, Ind.-based Evergreen Investment Corp., plans to complete between $200,000 and $300,000 worth of capital improvements to the property. Approximately 6,000 square feet of ground-floor retail space is currently vacant.
GLENDALE HEIGHTS AND JOLIET, ILL. — Chicago-based Paine/Wetzel • ONCOR International has brokered two Chicagoland industrial transactions. In Glendale Heights, the firm arranged the purchase of a 68,422-square-foot industrial building located at 1966 Quincy Ct. John Stump and Phil Reiff of Paine/Wetzel represented the buyer, Matrix International, which is relocating from its previous space in Elk Grove Village, Ill. Paul Montes and Eric Spiess of Inland Real Estate represented the undisclosed seller. In Joliet, Paine/Wetzel brokered the sale of a 65,000-square-foot flex building located at 300 Caterpillar Dr. The facility features 40,000 square feet of office space and 25,000 square feet of warehouse space. It was purchased by Joliet Township High School Board of Education. The undisclosed seller was represented by Leslie Spinner and Jeffrey Girling of Paine/Wetzel.