ST. LOUIS — The renovation of The Holiday Inn Airport Oakland Park, which is located at 4505 Woodson Rd. in St. Louis, is nearing completion. Chicago-based Atira Hotels owns and manages the 158-room hotel. Interior spaces undergoing renovations include all of the guestrooms, the hotel lobby and front desk, the meeting and banquet areas, the fitness center, and the restaurant and lounge areas. Exterior renovations will feature updated Holiday Inn brand-specific architecture, design, painting and signage. Amenities at the Holiday Inn Airport Oakland Park, which is situated .5 miles from the Lambert International Airport, include a fitness center, a full-service restaurant and 5,000 square feet of flexible meeting and banquet space. The project is scheduled for completion this month.
Midwest
INDIANAPOLIS — Indianapolis-based Meridian Real Estate has represented the landlord, First Industrial Realty Trust, in leasing 311,000 square feet of industrial space within the Shadeland Commerce Center in Indianapolis. CHEP USA has leased the space at 2900 N. Shadeland Ave. in order to accommodate its expansion. The building, which is now 84 percent occupied, totals 926,000 square feet in size. Brian Seitz and Steve Schwegman of Meridian Real Estate represented the landlord; the Dallas office of UGL Equis represented the lessee in the transaction. Terms of the lease were not disclosed.
O’FALLON, ILL. — St. Louis-based Holland Construction Services has been selected to construct a new auditorium for O’Fallon Township High School District #203 in O’Fallon. The 20,000-square-foot, steel facility will include seating capacity for 740 people. Wm. B. Ittner is providing design services for the $6.3 million project. The estimated completion date was not disclosed.
SAGINAW AND COLDWATER, MICH. — Mark Luttner of The Luttner Retail Group of Ohio-based NAI Daus has completed three Michigan retail sales. In Saginaw and Coldwater, Luttner has arranged the sale of two retail stores 100 percent leased to Advance Auto Parts. The 7,000-square-foot Saginaw store was sold for approximately $1.68 million. The 6,784-square-foot Coldwater location commanded a sales price of approximately $1.43 million. Additionally in Coldwater, Luttner has arranged the sale of a 3,500-square-foot, freestanding National City Bank. The building was acquired by an undisclosed buyer for $800,000.
GREENDALE, WIS. — An affiliate of Chicago-based Senior Lifestyle Corp., in a joint venture with an affiliate of Chicago-based Walton Street Capital, has acquired a senior housing community in Greendale. Situated on a 14-acre site, Harbour Village is located less than 10 miles from downtown Milwaukee. The three-building community houses 142 independent living apartments, 38 assisted living apartments and 52 memory care apartments. Amenities at the property include a fine-dining restaurant, fitness center, housekeeping, transportation, and on-site banking, salon, florist and dry-cleaning services. The acquisition price was not disclosed.
APPLETON, NEENAH, MENASHA AND GREEN BAY, WIS. — Stan Johnson Co. has completed the sale of a five-property portfolio of Walgreens drugstores in Wisconsin. The stores, which are 100 percent leased to Walgreens/Walgreen Co., are located in Appleton, Neenah and Menasha, as well as two properties that are in Green Bay. An undisclosed corporation has acquired the stores from an undisclosed retail developer for $13.67 million. Gill Warner, Rod Pickney and Chad Byerly of Stan Johnson Co.’s Team Warner represented both parties in the transaction.
OMAHA. NEB. — Starwood Hotels & Resorts Worldwide has plans to open an element hotel within Mutual of Omaha’s Midtown Crossing at Turner Park development in Omaha. The element Omaha Midtown Crossing is scheduled to open in the 1 million-square-foot mixed-use development in late 2010. As Starwood’s newest concept, element is the first hotel brand to mandate that all properties pursue LEED Certification. Sustainable aspects of the hotel will include energy-efficient, stainless steel appliances and lighting, amenity dispensers in the shower to reduce waste, and recycling bins for plastic and paper products. The element Omaha Midtown Crossing will also feature approximately 1,000 square feet of meeting space.
WARREN, MICH. — Grubb & Ellis has brokered the sale of a 41,771-square-foot industrial facility located at 24534 Groesbeck Highway in Warren. Rymoso Investment, a parent company of Elite Stainless Inc., has acquired the building from L&A Johnson Family LLC. Elite Stainless now occupies most of the facility, which was once a multi-tenant building. Mike Davidson represented both parties in the transaction. The acquisition price was not disclosed.
PEORIA, ILL. — Chicago-based Beacon Realty Capital has arranged $1.34 million in permanent FHA 202 fixed-rate debt for an apartment building in Peoria. The high leveraged, non-recourse loan includes a 35-year term, with a 35-year amortization schedule. Financing was arranged using Beacon’s correspondent FHA lender.
DETROIT, PONTIAC, WARREN, FLINT AND BAY CITY, MICH. — The Michigan Economic Growth Authority board has approved state incentives to encourage General Motors to consider expanding its facilities in Detroit, Pontiac, Bay City, and Warren, as well as build a new facility in Flint. Pending company approval, the project is expected to retain a total of 14,380 jobs in the state. The proposed $838 million project would include upgrades to the Detroit-Hamtramck assembly plant, Pontiac Metal Center, Bay City Components Plant and the GM Technical Center in Warren. Additionally, a new facility would be constructed on a brownfield site in Flint. A state tax credit worth approximately $122.5 million over 15 years was approved, along with a brownfield tax credit valued at $10 million, in order to secure the company’s investment. Additionally, the Michigan Economic Growth Authority board has approved state incentives for improvements to Carbone of America’s Ultra Carbon Division, which is located at 900 Harrison St. in Bay City. The $11.5 million project includes demolition and reconstruction of a functionally obsolete portion of the existing building, underground utility improvements to accommodate expansion, as well as new manufacturing equipment and a new furnace. In addition, a deteriorated section of …