Midwest

GOLD’S GYM SIGNS LEASE WITHIN THE SHOPS AT ORCHARD POINTE

by admin November 25, 2008

FITCHBURG, WIS. — A 45,000-square-foot Gold’s Gym will open within The Shops at Orchard Pointe, a 110-acre development located in the Madison, Wis., suburb of Fitchburg. Steve Doran in the Madison office of Lee & associates has negotiated the $7 million lease on behalf of the gym. EZ Nesbitt LLC represented Orchard Pointe in negotiations. In addition to the gym, more than 70,000 square feet of leases have been signed within the center, which is being developed adjacent to the new Super Target at Orchard Pointe. An estimated 100,000 square feet have yet to be built at the project. Lee & Associates is brokering the development of the land. Gold’s Gym will open in the summer.

November 25, 2008

MERIDIAN DESIGN BUILD TO COORDINATE INDUSTRIAL RENOVATION

by admin November 25, 2008

CICERO, ILL. — Meridian Design Build has been selected to coordinate the renovation of C.R. Laurence’s recently acquired 90,000-square-foot manufacturing facility located at 5501 W. Ogden Ave. in Cicero. In order to improve the overall flow within in the facility, an extensive amount of interior demolition work and reconfiguration is planned. The renovations will make room for updated employee facilities, including plant restrooms/locker rooms, lunchrooms and plant offices. Additionally, electrical service will be upgraded to meet current code requirements. The project is being completed on a design/build basis, with Itasca, Ill.-based Heitman Architects serving as the designer. Ryan Brandush and Tom McNett of Meridian Design Build are serving as project engineer and senior superintendent, respectively, at the site. The estimated cost of completion was not disclosed.

November 25, 2008

Industrial Midwest

TRANSWESTERN COMPLETES $17.5 MILLION DISTRIBUTION CENTER

by admin November 24, 2008

BOLINGBROOK, ILL. — Goya Foods has taken occupancy at its recently completed 150,000-square-foot Midwest distribution center located at 1401 Remington Blvd. in Bolingbrook. Transwestern provided project management services for the $17.5 million project, which was developed by Northern Builders. The project was completed in 6 months. Situated on a 15-acre site, the facility includes 40-foot clear ceiling heights, a high storage freezer, cooler storage, a production room and a training room. Transwestern’s Robert Klinger led the project management team on behalf of Goya Foods.

November 24, 2008

Midwest Multifamily

CB RICHARD ELLIS BROKERS SALE OF 168-BED STUDENT APARTMENT COMMUNITY

by admin November 24, 2008

INDIANAPOLIS — CB Richard Ellis’ Indianapolis-Cincinnati Multi-Housing Group has arranged the sale of a 168-bed student apartment community located in Indianapolis. The College Crossing at National is situated 1 block from the University of Indianapolis. Chicago-based Hunter Properties has purchased the community from Trinitas Ventures for an undisclosed amount. The property, which features two-, three- and four-bedroom units, includes a recreation center, a resident lounge and a study center with public computers. The acquisition price was not disclosed.

November 24, 2008

Midwest Retail

MID-AMERICA SECURES FIVE TENANTS FOR 454,000-SQUARE-FOOT POWER CENTER

by admin November 24, 2008

CHICAGO — Oakbrook Terrace, Ill.-based Mid-America Asset Management has secured five new tenants for Marshfield Plaza, a 454,000-square-foot power center currently underway in Chicago. Chili’s has leased 6,300 square feet; CJ Beauty Supply has leased 4,000 square feet; T-Mobile has leased 3,000 square feet; Subway has leased 1,200 square feet; and Panda Express has leased 2,200 square feet within the center. All of the tenants will open in the spring. Richard Spinell, Paul Bryant and Mary Beth Menelli of Mid-America represented the landlord, Primestor Development of Chicago, in all of the leases. Steve Frishman of Mid-America represented Chili’s; Jim Sakanich of CB Richard Ellis represented CJ Beauty Supply; Meredith Oliver of Metro Commercial Real Estate represented T-Mobile; and Kim McGuire of CB Richard Ellis represented Panda Express in negotiations. The initial phase of the two-phase project was completed in October, and includes a 127,000-square-foot Target store. Upon completion of Phase II in the spring, Marshfield Plaza will include a PETCO, a Jewel-Osco, a Staples and a Marshalls. Located at W. 119th Street and S. Marshfield Ave., the center also features seven outlots, including a bank pad and two multi-tenant buildings.

November 24, 2008

Midwest Retail

BURLINGTON COAT FACTORY TO OPEN STORE IN OTTER CREEK SHOPPING CENTER

by admin November 24, 2008

ELGIN, ILL. — Burlington Coat Factory has leased 70,000 square feet within the Otter Creek Shopping Center located at the intersection of Randall Road and Lake Street in Elgin. The property, which is situated adjacent to a Target store, is a redeveloped Dominick’s grocery store. Additional tenants at the 362,305-square-foot power center include Office Max, Hobby Lobby and Fashion Bug. Burlington Coat Factory is scheduled to open in March. Matt Smetana of Edgemark Commercial Real Estate Services represented the landlord, Otter Creek LLC, in the transaction; Brad Gershman of Gershman, Brown, Crowley Inc. represented Burlington Coat Factory in lease negotiations. Terms of the lease were not disclosed.

November 24, 2008

Midwest Retail

NAI DAUS BROKERS $1.2 MILLION RETAIL SALE

by admin November 24, 2008

BRUNSWICK, OHIO — The Cooper Commercial Investment Group of NAI Daus in Cleveland has brokered the sale of a retail center located at 55-67 Pearl Rd. in Brunswick. The 19,200-square-foot Forest Hills Plaza shopping center was 81 percent leased at the time of the sale. Winbury Group Ltd. has purchased the property from an undisclosed local seller for $1.2 million. Dan Cooper and Bob Havasi of NAI Daus represented the seller in the transaction.

November 24, 2008

Midwest Office

BRIDGE DEVELOPMENT PARTERS AND GLOBE CORP. TO DEVELOP OFFICE BUILDING

by admin November 21, 2008

LINCOLNSHIRE, ILL. — Chicago-based Bridge Development Partners and Globe Corp. have plans to develop a 162,000-square-foot spec office building located at 555 Aptakisic Rd. in Lincolnshire. Situated on a 12-acre site, 555 Corporate Center will feature 40,000-square-foot floorplates. The Class A office building is being designed/constructed to achieve LEED Certification. Chicago-based Archideas is the architect; Des, Plaines, Ill.-based Premier Design + Build Group is the general contractor for the project. Kevin Clifton and Peter Kelly of Colliers Bennett & Kahnweiler are marketing the property. Construction is set to begin by the end of the year, with completion expected in the fourth quarter of next year. The project is located directly north of Bridge’s Aptakisic Corporate Park industrial development in Buffalo Grove, Ill.

November 21, 2008

Midwest Retail

AEI CAPITAL CORP. PURCHASES BEST BUY PROPERTY FOR $6 MILLION

by admin November 21, 2008

LAKE GENEVA, ILL. — AEI Capital Corp. has purchased a 30,162-square-foot Best Buy store located on a freestanding site within the Target-anchored Geneva Commons shopping center in Lake Geneva. The $6 million property was purchased for three of AEI Capital Corp.’s investment funds. The newly constructed Best Buy store opened in March. This is the third Best Buy store that AEI has invested in this year, with two more locations under contract to close before the end of the year.

November 21, 2008

Industrial Midwest

FIRST INDUSTRIAL REALTY TRUST SECURES LEASES TOTALING 145,000 SQUARE FEET

by admin November 21, 2008

MILWAUKEE — First Industrial Realty trust has secured two leases totaling 145,000 square feet within its recently completed First Park Oak Creek industrial development located in Milwaukee. First Industrial Realty Trust developed the park through its development and repositioning joint venture with the California State Teachers’ Retirement System. Regina USA has leased 64,000 square feet within Building B of the park. The company is relocating from Maryland to better serve its customers. Additionally, We Energies, a subsidiary of Wisconsin Energy Corp., has leased 81,000 square feet within Building A. The park is 79 percent leased. Steve Sewart of Inland Cos., as well as Roger Siegel and Scott Furmanski of CB Richard Ellis, assisted in the transactions. Tom Shepherd of Inland Cos. assisted with the We Energies Lease. Additional terms of both leases were not disclosed.

November 21, 2008

Newer Posts

Older Posts