COLUMBUS, OHIO — ICI Property Consultants Inc. of Farmington Hills, Mich., has arranged the acquisition of a multi-story office building located in Columbus. The 115,000-square-foot facility, which was operating at 73 percent occupancy at the time of the sale, was an REO held by a local lender. The original asking price for the building was $6.5 million. Alan Stern of ICI Property Consultants represented the buyer, 2323 Realty LLC, in the transaction.
CARMEL, IND. — NAI Olympia Partners has arranged the acquisition of a 22,037-square-foot office building, formerly the Woodland Professional Center, located at 2000 E. 116th St. in Carmel. Catherine Winslow has acquired the facility and will use the second floor for Winslow Facial Plastic Surgery. Winslow has plans to create an Aesthetic and Wellness Center at the facility, which will house multiple other practices including functional dentistry, chiropractic services, podiatry, optometry and general medicine. Woodland PC Partners LLC, which was represented by Thomas Frank of Summit Realty Co., sold the building for an undisclosed amount. Brooke Augustin of NAI Olympia Partners represented the buyer in the transaction.
WHEELING, ILL. — Morgan / Harbour Construction, acting as designer/building, has broken ground for a new 120,000-square-foot public works facility for the Village of Wheeling. The two-story structure will be located on a 12-acre site at 77 W. Hintz Rd. in Wheeling. Upgrades within the building include ample indoor storage space for trucks and equipment, a more efficient layout for the administrative portion of the building, and 3 acres of outdoor storage space for salt domes, a fuel island, equipment storage, and other machinery. Construction of the facility is slated for completion in the spring of 2009. Harris architects is providing architectural services for the project. The estimated cost of completion was not disclosed.
OLATHE, KAN. — Hendricks & Partners has arranged the approximately $2.93 million sale of Fountain Ridge apartments located at 515 S. Clairborne Rd. in Olathe. The 72-unit multifamily community was sold by Future Enterprises LLC of Overland Park/Olathe. Pacific Financial Exchange Corp. — a qualified intermediary for Hansen Perng & Mary Liu, Wei Chun Li, & William a Perng of Fullerton, Calif. — has acquired the facility. Jeff Lamott in the Kansas City, Mo., office of Hendricks & Partners represented the seller in the transaction.
MISHAWAKA, IND. — BremnerDuke Healthcare Real Estate is developing a 205,000-square-foot medical office building on Saint Joseph’s Regional Medical Center’s (SJRMC) campus in Mishawaka. The four levels of the facility will be connected to the hospital, and will feature an MRI Center, a Wound Care center and Riley Hospital for Children’s Pediatric Clinic. A 120-stall subsurface parking structure for physicians will also be part of the facility. Situated on the north side of the SJRMC campus on Douglas Road and Edison Lakes, the facility will be connected to a new 658,000-square-foot inpatient hospital being constructed on SJRMC’s 90-acre property. BremnerDuke’s medical office building is slated for completion in the summer of 2009, while Saint Joseph’s inpatient facility is scheduled for completion and occupancy at the end of 2009. George Cressy, Sheral Litell, Corey Cressy, Noah Davey and Mindy Risser of Grubb & Ellis|Cressy & Everett in Mishawaka have been retained to lease the medical office project.
SANDUSKY, OHIO — Marcus & Millichap has arranged the sale of a 1.32 million-square-foot industrial facility located at 2509 Hayes Ave. in Sandusky. The building, which is situated on an approximately 128-acre site, is fully leased to Kyklos Bearning International Inc. The facility, which was listed for $25.5 million, includes seven loading bays, 997,910 square feet of manufacturing space and 324,037 square feet of office product. Glen Kunofsky in the New York City office of Marcus & Millichap represented the seller; Michael Glass in the firm’s Cleveland office assisted Kunofsky in the transaction.
JEFFERSONVILLE, IND. — Louisville, Ky.-based Crossdock Development Inc. has plans to construct an approximately 1 million-square-foot spec building within the River Ridge Commerce Center in Jeffersonville. The Class A industrial facility, which will be located on a 122-acre site, will be the largest ever to be constructed in the Louisville MSA. Plans for the project include an energy efficient TPO roof, approximately 225 dock positions and 200-foot truck courts. The estimated cost of completion was not disclosed.
LA VISTA, NEB. — Green Park Financial has provided $9.6 million in financing for the acquisition of Shadow Ridge Apartments located in La Vista. Financing was based on a 10-year term, with 3 years interest-only and a 30-year amortization schedule. Amenities at the 276-unit garden-style apartment complex include a 24-hour fitness center, sand volleyball area and laundry centers in each building. The loan was originated by Jason Rice of Quantum First Capital. Andrew Tapley led the Green Park Financial team.
MIDLAND, MICH. — Dallas-based Midas Financials Inc. has arranged an $11 million loan for the refinancing and partner buyout of a Holiday Inn, which is located at 1500 West Wackerly St. in Midland. The 235-room hotel was appraised at $18 million. Financing was arranged by Midas Financials for the borrower, Budwarker Inc.
LAKE SAINT LOUIS, MO. — Chicago-based Davis Street Land Co., acting as owner, manager and leasing agent, recently held the opening of the first phase of The Meadows at Lake Saint Louis, which is located at Lake Saint Louis Boulevard and Interstate 64 in Lake Saint Louis. Phase I of the development features four retail buildings totaling more than 200,000 square feet. Each building houses 10 to 15 retailers including Banana Republic, Chico’s, Coldwater Creek, New Balance St. Louis, Salon Kashmir and Talbots. Additionally, three retailers will open their first Missouri locations at the project, including Bachrach and Backwoods, which will open in early 2009, as well as Von Maur, which will open a two-story, 126,000-square-foot store in the fall of 2010. St. Louis-based Brinkmann Constructors served as the general contractors; St. Louis-based M + H Architects acted as designers for the project. The estimated cost of completion was not disclosed.