Midwest

118,800-SQUARE-FOOT ASHLEY FURNITURE HOME STORE HEADQUARTERS UNDERWAY

by admin July 21, 2008

ST. LOUIS — Ashley Furniture Home Store is relocating its headquarters to a 118,800-square-foot distribution and office facility currently under construction within Green Park Commerce Center in South St. Louis County. ARCO Construction Co. is building the $7.6 million structure, which is slated for completion this winter. Situated on a 5.5-acre site, the single-story, steel-framed building will feature a 100,800-square-foot warehouse zone, as well as 18,000 square feet of office space. The warehouse will have 38-foot clear-height ceilings, 19 dock doors, a covered customer pick-up zone and energy efficient lighting. Parking will be available for 118 vehicles.

July 21, 2008

VERUS PARTNERS LEASES BUILDING AND BEGINS SECOND INDUSTRIAL FACILITY

by admin July 21, 2008

NOBLESVILLE, IND. — Verus Partners has completed leasing Building 100 within the company’s 180,000-square-foot Saxony Corporate Campus in Noblesville, and has begun construction for Building 200. Located at 14470 Bergen Blvd., Building 100 is a 90,400-square-foot office/warehouse facility. Weaver Popcorn Co., Rock Tops Inc. and Ambassador Medical have signed leases at the property, which features offices-to-suit, docks and drive-in doors. Weaver Popcorn Co. was represented in its transaction by Paul Dick of Resource Commercial Real Estate, Rock Tops was represented by Fritz Kauffman of Colliers Turley Martin Tucker, and Ambassador Medical was represented by Todd Vannatta and John Crisp also of Colliers Turley Martin Tucker; Verus Partners was represented in the transaction by Jeremy Woods and Brad Williams of Summit Realty. Currently under construction on the same campus is the 89,600-square-foot Building 200. Upon completion, the building will feature 20-foot clear-height ceilings, offices-to-suit and drive-in doors. The multi-tenant property, which is also being developed by Verus Partners, will be available for occupancy in October.

July 21, 2008

Industrial Midwest

CB RICHARD ELLIS ARRANGES 219,732-SF INDUSTRIAL SALE

by admin July 21, 2008

WHEELING, ILL. — David Tropp, Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis have represented Pactiv Corp. in the sale of an industrial building located at 1500 S. Wolf Rd. in Wheeling. The 219,732-square-foot facility was acquired by CenterPoint Properties, and features approximately 15,500 square feet of office space and 24-foot clear-height ceilings. This fall, CenterPoint Properties will begin a general renovation of the one-story building. The asking price was $9.5 million.

July 21, 2008

Industrial Midwest

LEE & ASSOCIATES BROKERS 60,800-SQUARE-FOOT INDUSTRIAL SALE

by admin July 21, 2008

LIVONIA, MICH. — Lee & Associates of Michigan has brokered the sale of a 60,800-square-foot industrial facility located at 35455 Veronica St. in Livonia. Celani Family LP sold the building for an undisclosed amount. Jon Savoy and Jim Roberts of Lee & Associates represented the buyer, Henrob Corp., in the transaction.

July 21, 2008

Midwest Retail

MARC JACOBS INTERNATIONAL TO OPEN BOUTIQUE IN ELYSIAN CHICAGO BUILDING

by admin July 21, 2008

CHICAGO — Chicago-based Baum Realty Group has negotiated a lease agreement between First Elysian Properties and Marc Jacobs International to open a Marc Jacobs Collection boutique at the Elysian Chicago, which is located on Rush and Walton streets in Chicago. As the first property developed for Elysian Hotels & Resorts, Elysian Chicago is scheduled to open in early 2009. Marc Jacobs’ 10-year lease stipulates that the new boutique will occupy 2,700 square feet of retail space within the facility. Adam Secher and Janika Brenner of Baum represented First Elysian Properties in the transaction. Terms of the lease were not disclosed.

July 21, 2008

Civic Midwest

KWAME TO MANAGE LAMBERT-ST. LOUIS INTERNATIONAL AIRPORT RENOVATIONS

by admin July 18, 2008

ST. LOUIS — St. Louis-based KWAME Building Group has been named program management consultant for the Airport Experience Program, a renovations campaign at Lambert-St. Louis International Airport. Over a 5-year period, the airport’s terminal, concourse and passenger support facilities will undergo renovations. Restoration of the airport’s domed ceilings will begin in mid-July; additionally, replacement of the interior baggage system and a $1.5 million roadway signage program will begin in early 2009. One of the first projects will be a $5 million renovation of the inbound baggage handling systems and six carousels, which is expected to be complete in the spring of 2009. The program also includes renovation of the main terminal and concourses A, B and C.

July 18, 2008

Midwest Office

FORT PROPERTIES ACQUIRES 268,413-SQUARE-FOOT CHASE OPERATIONS CENTER

by admin July 18, 2008

SPRINGFIELD, MO. — Los Angeles-based FORT Properties has acquired the 268,413-square-foot Chase Operations Center located at 303 East Republic Rd. in Springfield. The three-story, Class A building, which was sold by Brookfield Real Estate Opportunity Fund, is fully leased until August 2027 to JPMorgan Chase Bank N.A. As the company’s largest service call center in the United States, the facility is configured to allow an additional 35,500 square feet of on-site expansion space. While the acquisition price was not disclosed, financing was provided by First National Bank of St. Louis. FORT Properties negotiated the purchase in-house through Robert Alter; the seller was represented in the transaction by John Alvarado, Jack Crews, Evan Stone and Seth Barne of Jones Lang LaSalle Americas.

July 18, 2008

Midwest Retail

LITTLE RIVER CASINO RESORT COMPLETES RENOVATIONS AND ADDITIONS

by admin July 18, 2008

MANISTEE, MICH. — The Little River Casino Resort has reopened after undergoing exterior and interior expansions and additions. The 292-room facility, which is owned by Little River Band of Ottawa Indians, is located at 2700 Orchard Highway in Manistee. Exterior renovations include the Winter Garden, which features a waterfall, river and bridges, an outdoor bar area with heated floors, a giant fish tank and a 70-foot glass ceiling. Additions include a 14,000-square-foot event center with 1,675 seats. Texas-based TBG provided site planning and landscape architectural services for the project; Alpena, Mich.-based DeVere Construction Co. served as the general contractor at the site; and Memphis, Tenn.-based Hnedak Bobo Group served as the project’s architect. The cost of completion was not disclosed.

July 18, 2008

Midwest Retail

GROSVENOR LEASES MAGNIFICIENT MILE RETAIL SPACE TO COLUMBIA SPORTSWEAR

by admin July 18, 2008

CHICAGO — Grosvenor has leased 11,175 square feet of retail space on Chicago’s Magnificent Mile to Columbia Sportswear Co. The two-story facility, which will be open in mid-2009, will be within Grosvenor’s 125,000-square-foot retail property located at 830 North Michigan Ave. Other tenants in the building include Filene’s Basement, Borders Books & Music, and Ghirardelli Ice Cream and Chocolate Shop. Stanley Nitzberg of Mid-America Real Estate represented Grosvenor; Victor Fandel of Fandel Retail Group represented the tenant in the transaction. Terms of the lease were not disclosed.

July 18, 2008

Midwest Multifamily

HENDRICKS & PARTNERS BROKERS $6.24 MILLION MULTIFAMILY SALE

by admin July 18, 2008

HASLETT, MICH. — Phoenix-based Hendricks & Partners has brokered the sale of Lakeview, a 213-unit apartment community located at 5984 Bois lle Dr. in Haslett. Lakeview in Haslett LC of Okemos, Mich., has acquired the $6.24 million facility from Lakeview Associates of Ann Arbor, Mich. Kevin Dillon, Rick Vidrio and Rick Brace in the Detroit office of Hendricks & Partners represented the seller, Lakeview Associates, in the transaction.

July 18, 2008

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