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.
Midwest
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.
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.
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.
FORT WAYNE, IND. — CB Richard Ellis’ Phoenix, Indianapolis and Chicago Multi-Housing groups have brokered the sale of two apartment communities in Fort Wayne. The properties sold include Stone Pointe Village Apartments, which is located at 530 Ridgemoor Dr., and Versailles on the Lake, which is located at 6501 Reed Rd. The 296-unit Stone Pointe Village Apartments was purchased by Mid-America Management Corp., while the 156-unit Versailles on the Lake was acquired by Chicago-based JRM Associates. CB Richard Ellis represented the seller, AIMCO, in both transactions. The acquisition prices for both properties were not disclosed.
NEWBURGH, IND. — Holland Construction Services has completed a 63,692-square-foot Schnucks grocery store within Bell Oaks Center in Newburgh. DESCO Group owns the newly constructed store, as well as another Schnucks location in Waterloo, Ill., which was recently completed by Holland. The company has constructed 22 Schnucks stores. In addition to the store, the $6.6 million project included the restructuring of the surrounding retail component. This was Holland’s first project in the state of Indiana.
CHICAGO — Harley Ellis Devereaux is providing planning and architectural services for two affordable senior living facilities currently underway in Chicago. The G&A Senior Residence of Eastgate Village, which is located at 300 E. 26th St., has topped out construction at nine stories. Situated adjacent to Mercy Hospital, The G&A Senior Residence of Eastgate Village will consist of 117 one-bedroom units. Amenities at the property include a fitness center, a multi-purpose room with a common use kitchen, and a ninth-floor residence lounge and terrace with lakefront views. G&A Construction and Development is developing the building; Fred Teitelbaum Co. is the general contractor for the project. The project is slated for completion in May. Located at 3251 E. 92nd St., The Victory Centre of South Chicago has topped out construction at five stories. The $17.9 million affordable supportive living community will house 112 studio units, each with a private bathroom and kitchenette. The project, which was designed to achieve LEED Certification, has been approved for certification by the Illinois Department of Healthcare and Family Services Medicare Waiver Program. Pathway Senior Living is developing the property; Pepper Construction is providing general contracting services. The project is scheduled for completion in the spring.
ERLANGER, KY — US Playing Card Co. has signed a lease for 572,000 square feet of industrial/office space located at 300 Gap Way in Erlanger. The new facility will allow for more efficiency for distribution and manufacturing. US Playing Card Co. will occupy the space in December. Rod MacEachen and Josh Niederhelman in the Cincinnati office of CB Richard Ellis represented US Playing Card Co. in the transaction.
KANSAS CITY, MO. — JE Dunn Construction Group has topped out its new headquarters facility, which is located at 1100 Locust in Kansas City. The company broke ground on the 203,000-square-foot facility in December 2007. The five-story office building will include an adjacent parking structure to serve 780 vehicles for JE Dunn employees and public parking. BNIM/360º Architects are providing design services for the project, which is being constructed to meet LEED Gold standards. JE Dunn plans to move into the new office in August.
Bolingbrook, Ill. — Jeffrey Kowal of Edgemark Commercial Real Estate Services has represented both parties in the sale of Two Rivers Plaza, a shadow-anchored retail center located at the southeast corner of Boughton and Naper boulevards in Bolingbrook. The 25,900-square-foot center is situated on more than 2 acres, and is shadow-anchored by Jewel/Osco, Target and Kohls. The property includes a freestanding multi-tenant building on an out lot, as well as in-line spaces next to Jewel/Osco. The acquisition price for the fully leased property was not disclosed.