CUYAHOGA FALLS, OHIO — Michael Howard and Steve Hryszko of CB Richard Ellis’ Self Storage Advisory Group have arranged the acquisition of a self-storage property located at 4133 State Rd. in Cuyahoga Falls. SAMM Management, operating under the Storage Zone name, acquired the facility from State 8 Mini Storage for $1.3 million. The 28,700-square-foot building houses 180 units.
Midwest
MINNEAPOLIS — On behalf of Virchow, Krause & Co., Welsh Construction has completed a 92,00-square-foot build-out for an office located at 225 South Sixth St. in Minneapolis. The project included installing steel floor framing and cutting stairs between five floors of the existing building. The Class A office space was completed by Welsh Construction in 5 months. The project was headed up by Welsh Project Managers Chris Loberg and Blaine Kolles; Field Superintendent Rod Kalina; and Project Assistant Jean Springer.
ST. LOUIS — St. Louis-based Clayco, as designer/builder, has broken ground on the new 150,875-square-foot Stephen F. and Camilla T. Brauer Hall building on the northeast corner of Washington University’s Danforth Campus in St. Louis. The $60 million building will be devoted to state-of-the-art teaching, and research in energy and environmental engineering for Washington University’s School of Engineering & Applied Science. When the facility is completed in 2010, it will house the School of Engineering’s Department of Energy, Environmental & Chemical Engineering. Additionally, the building will provide space for the International Center for Advanced Renewable Energy & Sustainability, and the Department of Biomedical Engineering. The four-story structure, which has been designed to achieve LEED-Gold certification, will include 34 labs and a vivarium. Stephen F. and Camilla T. Brauer Hall is the first phase of the School of Engineering’s master plan that calls for approximately 600,000 square feet of new space.
JACKSON, MICH. — CB Richard Ellis has brokered the sale of a 441,000-square-foot industrial facility located at 2400 Enterprise Dr. in Jackson. Situated on 33 acres, the property formerly housed a Goodyear Tire warehouse. Equestor Partners has purchased the building from CDC Mead for an undisclosed amount. Stephen Kurtz in the Detroit office of CB Richard Ellis represented the seller in the transaction.
PLAINFIELD, IND. — Siemens Healthcare USA has signed a lease for 320,070 square feet of industrial space within Building 100 in the Plainfield Distribution Center. Atlanta-based Republic Properties is the landlord for the 493,500-square-foot facility, which is located at 2150 Stanley Rd. in Plainfield. Chip Barnes and Matt Dickerson of Indianapolis-based NAI Olympia Partners represented Republic Properties; Tom Cooler, Ryan Beesley and Paul Novello of CB Richard Ellis represented Siemens in lease negotiations. Terms of the lease were not disclosed.
INDIANAPOLIS — Summit Realty Group has brokered two Indianapolis office deals totaling more than 53,000 square feet. John Demaree and Tim Norton of Summit Realty Group represented Winton Development in the sale of a multi-tenant office and warehouse building located at 7150 Winton Dr. Spohn & Associates has acquired the 45,300-square-foot facility for an undisclosed amount. Jim Fasone of Summit represented the buyer in the transaction. Additionally, Rebecca Baer of Summit represented Roberts Co. in the sale of its 8,000-square-foot office building located at 5601 South Meridian St. Vancouver, Wash.-based American Property Exchange Inc. purchased the fully leased property for an undisclosed amount. Russ Zimmerman of Meridian Real Estate represented the buyer in the transaction.
KANSAS CITY, MO. — North Andover, Mass.-based Watts Water Technologies has leased 113,155 square feet of industrial space located at 1399 North Universal Ave. in Kansas City from Medline Industries Inc. The Class A, 360,000-square-foot facility is situated within Executive Park. Whitney Kerr of Colliers Turley Martin Tucker represented Medline Industries; John McDaniel of Dallas-based Mohr Partners, in conjunction with Nick Tinnel of Zimmer Real Estate, represented Watts Water Technologies in the transaction. Terms of the lease were not disclosed.
DETROIT — Following a $200 million historic renovation by Cleveland-based developer, The Ferchill Group, Starwood Hotels & Resorts Worldwide has opened The Westin Book Cadillac Detroit located at 1114 Washington Blvd. The Italian-renaissance-style building, which originally opened in downtown Detroit in 1924, now measures 89,000 square feet in size. The 32-story property features 453 guestrooms on floors seven through 23; 67 luxury loft units within the Westin Book Cadillac Residences on floors 24 through 29; and 39,000 square feet of meeting and banquet space, with three ballrooms and 13 meeting rooms. Additionally, the hotel’s historic Motor Bar has been reopened on the second level, and the new restaurant, Roast, has opened on the street level of the property. In late November, Detroit-based Entourage Restaurant Group will open Spa 19 24Grille. The spa and casual restaurant, which will be situated within the building, will occupy 8,000 square feet of retail space facing Michigan Avenue. Willoughby, Ohio-based Marous Brothers Construction acted as general contractor at the site, which began construction in August 2006; Cleveland-based Kaczmar Architect Inc. served as the architect for the project. The Westin Book Cadillac Detroit is a member of the National Registry of Historic Places.
UPTOWN CHICAGO — Oakbrook Terrace, Ill.-based Mid-America Asset Management has brokered the sale of 132,000 square feet of space within Wilson Yard, a 5-acre mixed-use redevelopment that is currently underway in Uptown Chicago. Target has purchased the property from Chicago-based Holsten Real Estate Development Corp. for an undisclosed amount. The retailer plans to open at the development in the fall of 2010, in conjunction with a 20,000-square-foot specialty retail component that is planned for the project. Situated on the site of a former Chicago Transit Authority Rail Yard, the $150 million Wilson Yard development includes a mix of retail, residential and office space, as well as a 700-car parking garage. Mid-America Asset Management’s Development Services is serving as the construction manager for Wilson Yard. Richard Spinell and Paul Bryant of Mid-America Asset Management represented the seller; Adrian Brown of Indianapolis-based Gershman Brown Crowley Inc. represented the buyer in the transaction.
COLUMBUS AND MARYSVILLE, OHIO — KeyBank Real Estate Capital has closed $21.5 million in Fannie Mae and Freddie Mac-funded loans for four apartment communities located in Columbus and Marysville. Sawmill Ridge Acquisitions LLC has secured $9.1 million in Fannie Mae acquisition loan funding for the purchase of Sawmill Ridge apartments, a 192-unit apartment community located at 6564 Millridge Circle. Hidden Acres Acquisition LLC has secured $3 million in Fannie Mae acquisition loan funding to purchase Hidden Acres East. The 84-unit community is located at 1359 Parkland Rd. Additionally, on behalf of the borrower, JMW Parkleigh Co. LLC, KeyBank Real Estate Capital has provided $6 million in Freddie Mac funding. The loan was secured for Parkleigh North Apartments, a 216-unit complex located at 4187 Beechwold Dr. The firm has also provided Watkins Glen Holdings Ltd. with $3.65 million in Coterminous DUS Supplemental financing for Watkins Glen Apartments, a 256-unit multifamily community located in the Cleveland suburb of Marysville.