MINNETONKA, MINN. — Opus Northwest Management’s Crescent Ridge Corporate Center I has achieved the state’s first LEED-Existing Building designation for a multi-tenant from the USGBC. The 265,489-square-foot office building, which is located in Minnetonka, received LEED-EB Gold certification and now emits approximately 50 percent less carbon emissions than standard office buildings. Sustainable building operations include green cleaning and sustainable purchasing; construction waste reduction and recycling; alternative transportation and commuter programs; reducing indoor water use by 33 percent over basic LEED requirements; and achieving and Energy Star rating of 91, which represents a 50 percent reduction in emissions compared to the average building.
Midwest
CINCINNATI —Marcus & Millichap have brokered the sale of the 214,700-square-foot Best Self-Storage portfolio, which includes properties across the Cincinnati metro area in Northern Kentucky. Self-storage specialists Adam Schlosser and Brett Hatcher of Marcus & Millichap’s Columbus, Ohio, office, along with Aaron Johnson, arranged the $9.9 million sale on behalf of the seller, a local limited liability company. The portfolio was acquired by an undisclosed, non-publicly traded REIT. Facilities are located in Florence, Walton and Crescent Springs, Ken., just across the Ohio River from Cincinnati.
BLOOMINGDALE, ILL. — IHC Construction has been selected as construction manager for the development of new headquarters space for Scottish Rite Cathedral Association – Valley of Chicago. The 62,000-square-foot facility will replace the organization’s existing headquarters when it is complete fall 2010. Crystal Lake, Ill.-based Legat Architects is providing architectural design services.
EDEN PRAIRIE AND PLYMOUH, MINN. — Minneapolis-based Welsh Capital has arranged $5.95 million in funding for a multi-tenant industrial portfolio located in Eden Prairie and Plymouth. The non-recourse, fixed-rate refinancing was secured at a rate below 5 percent on a 25-year amortization schedule. The funding was provided by an undisclosed bank.
ST. LOUIS — Ken Aston and Paul Cunningham of the St. Louis office of Hendricks & Partners have arranged the sale of a 40-unit apartment community located at 5386-5390 Pershing Ave. in St. Louis. Locally based Rack Holdings LLC purchased the property from MIRP/DeBaliviere II. The cost of the sale was not disclosed.
WOOD DALE, ILL. — American Procurement & Logistics, a subsidiary of Eden Prairie, Minn.-based SuperValu Inc., has renewed its 440,000-square-foot warehouse lease in the O’Hare market of Wood Dale. The property, which is owned by AMB Property Corp., includes 30-foot clear ceiling heights and 76 docks. SuperValu has been a tenant of the building since it was developed as a spec facility in 1998. Steven Podolsky and Jonathan Stein of Podolsky Northstar CORFAC International represented SuperValu in negotiations; AMB Property Corp. was represented in-house by Carter Andrus. Dan Halprin of Bloomfield Hills, Mich.-based Dawda, Mann, Mulcahy & Sadler PLC provided legal representation to AMB Property Corp. SuperValu was represented in-house on the legal side by Joel Guth. Additional terms of the lease were not disclosed.
OWOSSO AND EVERGREEN TOWNSHIP, MICH. — Southfield, Mich.-based Bernard Financial Group has arranged two loans in Michigan totaling approximately $2.38 million. In Owosso, the company has secured approximately $1.38 million for the 77-unit Corlett Creek Apartments. Corlett Creek Associates LLC was the borrowing entity for the three-building community. Additionally, Bernard Financial Group has arranged $1 million in financing for an industrial/office facility located in Evergreen Township. Wright Plastics Products Co. was the borrowing entity for the 265,808-square-foot building. An undisclosed life insurance company provided financing for both properties. Additional terms of the loans were not disclosed.
CHICAGO — Lawrence Much, Stephen Connolly and Irv Malik of NAI Hiffman’s industrial services group have represented KTR Capital Partners, a New York City-based private equity fund manager and operating company, in leasing 175,000 square feet of build-to-suit warehouse space in Chicago to Preferred Freezer. The lease is for space within KTR’s recently acquired LEED-certified freezer/cooler property, formerly a Dominick’s distribution facility, located on West Ann Lurie Place along Interstate 55. The warehouse features 60-foot clear ceiling heights, 18 dock doors and 30 trailer parking spaces.
CHICAGO —Essex Realty Group has arranged the sale of a 7,500-square-foot vacant retail property located at 6241 N. Broadway in Chicago’s Edgewater neighborhood. Doug Fisher of Essex Realty represented both the unnamed seller and buyer in the $825,000 transaction.
NAPERVILLE, ILL. — A 144-room Hotel Arista has been completed within CityGate Centre, which is a 1 million-square-foot mixed-use development located in the Chicago suburb of Naperville. The hotel, which is affiliated with Preferred Hotels & Resorts, was developed by Calamos Real Estate LLC Development. Amenities at the property include 10,000 square feet of meeting space, a 95-seat signature restaurant, SugarToad, and a 12,000 square-foot spa, salon and fitness center that is set to open in the spring. Chicago-based Lohan Associates designed the facility to achieve LEED Certification. The hotel is managed by Hotel Arista Management Co. The cost of completing the project was not disclosed.