SHARONVILLE, OHIO — Steve Bove and Melissa Buckley of NAI Bergman have brokered the acquisition of a manufacturing facility located at 11417 Lippelman Rd. in Sharonville. The 100,000-square-foot building is situated on approximately 6.4 acres. SK Rigging has acquired the facility from Lippelman Equity LLC for $1.1 million.
Midwest
PLEASANT PRAIRIE, WIS. — PPC Industries has purchased a 75,000-square-foot industrial building located 10001 78th Ave. in Pleasant Prairie. The building, which is situated adjacent to PPC Industries’ existing facility, will be used to expand the company’s manufacturing and distribution operations. The facility is rail served and has electrical capacity to support PPC’s heavy manufacturing needs. Thomas Boyle of Northfield, Ill.-based Boyle Commercial Realty, in conjunction with V3 Realty Brokerage, represented the buyer; Lee & Associates of Illinois represented the seller in the transaction. The acquisition price was not disclosed.
ELK GROVE VILLAGE, ILL. — Northfield, Ill.-based Gemstone Real Estate Partners has acquired an industrial facility comprised of two interconnected buildings at 1225-1331 Greenleaf Ave. in Elk Grove Village. The 72,000-square-foot building includes warehouse, light industrial and office space. Gemstone plans to divide the facility into two separate 36,000-square-foot units. Plans also call for a new exterior, a new office build-out, additional docks and a resurfaced parking lot, which are slated for completion by the end of the year. The acquisition price was not disclosed.
ANN ARBOR, MICH. — Co-developers Kensington/Marquette Partners and Allen & O’Hara Development have completed the first phase of The Courtyards, an off-campus student apartment complex situated adjacent to the University of Michigan North Campus in Ann Arbor. The final phase of the 896-bed, three-building community is scheduled to open in the summer of 2009. The property houses one-, two-, three- and four-bedroom units, each with private bathrooms. Located at 1780 Broadway, the community features 24-hour study rooms, tanning domes, a video game room and an on-site 20-seat movie theater. The estimated cost of completion was not disclosed.
STURTEVANT, WIS. — Chicago-based HSA Commercial Real Estate has purchased a 192,500-square-foot industrial building located at 10277 Venice Dr. in Sturtevant. The facility, which is situated on a 16.4 acre-site within Renaissance Business Park, features 39-foot clear ceiling heights, 29 exterior docks, six drive-in doors and trailer storage. HSA acquired the building from a private investment group for an undisclosed amount. The building is fully leased to Allstates Trucking Inc. and Bway Manufacturing. HSA was represented in-house by Eric Ogden; Todd Torok of Lee & Associates represented the seller in the transaction.
BARRINGTON, ILL. — NorthPoint Capital — Chicago has arranged $5.75 million in financing for Welsh Office Center, a 91,287-square-foot office building located in Barrington. The loan is based on a 10-year term with a 25-year amortization schedule, at a rate of 5.75 percent. The loan was placed with Southern Farm Bureau Life Insurance Co., a correspondent life insurance company lender of NorthPoint. Keith Volgman of NorthPoint Capital arranged the financing.
APPLETON, WIS. — Steve Doran of Lee & Associates of Madison, Wis., has represented both parties in the sale and acquisition of two office buildings in Appleton. At 3913 Prospect Ave., White Cap Real Estate has acquired a 40,000-square-foot office property from Alliance Development for $8.8 million. Tenants within the fully occupied building include Fiduciary Partners, Baird, First Business Bank, Miles Data and Perinatal Consulting. Located at 2801 Enterprise Ave., White Cap Real Estate has acquired another property from Alliance Development. The 29,000-square-foot office building was sold for $5.84 million. Tenants at the facility include Larson Engineering, Rockwell and Ziegler. White Cap has plans to sell both of the buildings on the TIC market.
EVANSTON, ILL. — Chicago-based Goettsch Partners Inc. will provide architectural services for Northwestern University’s new Henry and Leigh Bienen School of Music building, which will be located on the college’s Evanston campus. The project, which will allow the school of music to consolidate all of its programs in one area, is being designed to achieve a minimum LEED-Silver certification level. The new building will house classrooms; teaching labs; academic faculty offices; teaching studies for choral, opera, piano and voice faculty; practice rooms; student lounges; administrative offices; a library; and a choral rehearsal room. Additionally, the building will feature an opera rehearsal room/black box theater and a 400-seat recital hall. Construction is scheduled to begin in 2010, with completion expected in spring 2012.
CHICAGO — Miami-based Cape Horn Group, as owner, has completed eight sales totaling more than 35,000 square feet within The LaSalle Wacker, a 41-story office building located at the corner of LaSalle Street and Wacker Drive in Chicago. Leading the sales at the 414,000-square-foot building was Pearl Properties, which acquired 14,433 square feet of retail space on the building’s first floor. Retail tenants already at the property include Sidebar Grille, Duru’s Custom Shirts and Suits, Builders Bank and Accelerated Rehabilitation Centers. Additionally, five law firms have acquired space within the building: Dwyer & McDevitt Ltd. acquired 2,958 square feet on the 16th floor; Parente and Norem took the entire 27th floor, totaling 4,484 square feet; Samuel V.P. Banks purchased 4,043 square feet on the 38th floor; Zhang & Associates has acquired 1,521 square feet on the 12th floor; and Dinizulu Law Group is relocating to 2,024 square feet on the 11th floor. Anthony Rye of CB Richard Ellis represented Dinizulu Law Group in the transaction. Chicago-based ImageFiction and W. Capra Consulting, which formerly leased space at the building, have purchased 1,867 square feet and 3,871 square feet, respectively. Russ Cora, Larry Cohn and Juan DeAngulo of Cape Horn Group represented …
DUBLIN, OHIO — Ohio-based Grubb & Ellis|Adena Realty has merged with retail brokerage firm The Leslie Group. The combined retail service group, which will be headquartered in Dublin, will provide brokerage, management, development, and construction services to retailers, shopping center owners and out-parcel users throughout Ohio. Grubb & Ellis|Adena Realty Advisors initiated the merger in order to continue the company’s steady growth. The group added four new brokers and one support person from The Leslie Group.