CHICAGO — AT&T has signed a long-term lease renewal for 171, 386 square feet within the Apparel Center, which is located at 350 North Orleans St. in Chicago. The space houses a training center, a call center and other office functions in support of AT&T’s telecommunications and U-Verse product offerings. AT&T, which has been a tenant in the building since 1989, is the largest tenant within the facility. George Kotrogiannis and Kurt Kittner of Jones Lang LaSalle represented AT&T in the lease transaction. CB Richard Ellis represented the landlord, Mart Properties, which is a subsidiary of Vornado Realty Trust, in negotiations. Additional terms of the lease were not disclosed.
FORT RILEY, KAN. — The Weitz Company, as general contractor, has completed two projects totaling $32 million in Fort Riley. The company has completed a 132,000-square-foot Army Air Force Exchange Service (AAFES) Post Exchange. Developed on a 9-acre site, the $24 million Post Exchange was designed by Springfield, Mo.-based Marshall Waters Woody Architecture for use by Fort Riley soldiers, their families and military retirees. The facility, which will celebrate its grand opening on February 13th, will sell clothing and electronics, and will house services including a pharmacy, a barbershop and a spa. A food court with five restaurants and a Starbucks Coffee was also completed as part of the project, and will be available to Department of Defense civilians. AAFES Real Estate Division in Dallas administered the contract for the project. Additionally, as part of a joint venture design-build agreement with Denver-based MaxFour Engineers & Architects, The Weitz Company has completed the Combat Aviation Brigade Whiteside Dining Facility. The 18,000-square-foot building has achieved LEED Silver certification. The U.S. Army Corps of Engineers administered the $8 million project. Situated on a 5-acre site, the facility houses 500 soldiers for three meals a day.
CLEVELAND — The Commercial Mortgage Access division of Cleveland-based KeyBank Real Estate Capital has provided more than $6.33 million in loans for four Midwest apartment communities. In Walled Lake, Mich., the company has provided approximately $2.6 million in financing for Hawk Lake Apartments. The 10-year loan represented a loan-to-value of 75 percent. KeyBank also provided an approximately $1.68 million loan for Garfield Club Apartments located in Garfield Heights, Ohio. Financing for Garfield Club Apartments was based on a 10-year term. In North Royalton, Ohio, KeyBank provided financing for the Royal Garden Apartments. The $1.44 million loan was based on a 5-year term. Finally, the company has provided $616,000 to finance Wind Ridge Apartments located in Batesville, Ind. The 10-year loan represented a loan-to-value of 70 percent. Additional terms of the loans were not disclosed.
SHAKOPEE, MINN. — AEI Capital Corp. has purchased a 30,243-square-foot Best Buy property located at 8100 Old Carriage Court in the Minneapolis suburb of Shakopee. The approximately $7.7 million acquisition was purchased as part of AEI’s long-term investment strategy — using all-cash, without debt — to develop and acquire commercial real estate net leased to major credit tenants in prime locations. The store is situated in a recently completed retail property, adjacent to a Wal-Mart Supercenter, a Sam’s Club, a Home Depot and a Michael’s.
COLUMBIA, MO. AND LISLE, ILL. — Northbrook, Ill.-based Romanek Properties has acquired the headquarters of Analytical Bio-Chemistry Laboratories Inc. (ABC Labs) and the headquarters of Claymore Securities, which are located in Columbia and Lisle, respectively. The 89,975-square-foot ABC Labs property is located at the intersection of Highway 63 and Gans Road. The office research lab is the first building completed within Discovery Ridge Research Park, the new research park at the University of Missouri. Romanek Properties acquired the facility as a sale/leaseback for $16.5 million. CJ Kuehl of Lee & Associates represented ABC Labs in the transaction. In Lisle, Romanek has purchased the 54,808-square-foot Claymore Securities property located on Corporate Drive. Romanek Properties acquired the office building from an undisclosed seller for $10.5 million. David Justh of CB Richard Ellis and Gary Nussbaum of Transwestern represented Romanek Properties in the transaction.
LENEXA, KAN. — David Farrell in the Kansas City regional office of NorthMarq Capital has arranged $18.9 million in first mortgage financing for the Dunes at Falcon Valley located in Lenexa. Terms of the loan for the 208-unit multifamily community were not disclosed. NorthMarq placed the loan with one of its life insurance correspondents on behalf of the borrower, Dunes at Falcon Valley LLC.
MASCOUTAH AND BELLEVILLE, ILL. — BARBERMurphy Group has brokered the sale of a 100,000-square-foot industrial building located at 8265 State Route 4 in Mascoutah. Sunny Dale Land Trust has purchased the facility from TDW Investment Group for an undisclosed amount. BARBERMurphy Group represented both parties in the transaction. Additionally, TDW Investment Group has sold a 36-unit multifamily community located at 11-17 Kensington Heights Rd. in Belleville. The 25,200-square-foot property was acquired by Vollmer Realty Inc. for an undisclosed amount. BARBERMurphy Group represented TDW Investment Group in the disposition.
SHELBY TOWNSHIP, MICH. — Models & Tools Inc. has signed a long-term lease for 114,995 square feet of industrial space located at 51400 Bellestri Ct. in Shelby Township. Jack Coury and Giancarlo Pinterpe in the Industrial Group of Grubb & Ellis represented the landlord, C & Son LLC, in negotiations. The fully air-conditioned facility includes clear ceiling heights of up to 36 feet and eight cranes. The space was previously used as an aerospace manufacturing facility. Terms of the lease were not disclosed.
KANSAS CITY, MO. — Commercial Realty Resources Inc., which has been operating as Prudential CRES Commercial Real Estate for 7 years, has merged with Kansas City-based Black & Co. Inc. Realtors. For nearly 70 years, Block & Company Inc. Realtors has been one of Kansas City’s leading full-service commercial realtors and developers. The merger will help the company strengthen its market coverage.
MILWAUKEE — Inland Cos., TMB Development and Dermond Properties have completed the renovation of the Pabst Boiler House located at 1243 N. 10th St. in Milwaukee. As part of the Pabst Boiler House project, Inland Cos. has completed the 2,170-square-foot build-out for Albion Architects and the 4,615-square-foot build-out for AMB Development. Both tenants have taken occupancy at the building, and were the first office tenants to move into the development. The 59,180-square-foot office building is situated within the former Pabst Brewery site, which houses more than 20 buildings that are being restored. The approximately 20-acre site, which is owned by local developer Joe Zilber of Zilber Ltd., is master-planned to include more than 1.3 million square feet of office, retail and residential uses. In addition to the Pabst Boiler House, the former Keg House at the site was converted into a 95-unit loft-style apartment community. Blue Ribbon Lofts was developed by Oregon, Wis.-based Gorman & Co. Building amenities include a music studio, artists’ workspaces and galleries, a business center and conference rooms, a theater/presentation space and a fitness center.