INDIANAPOLIS — Grubb & Ellis Healthcare REIT has acquired Medical Portfolio 3, a 689,000-square-foot collection of 13 healthcare-related properties encompassing 20 buildings throughout Indianapolis. The portfolio is anchored by Clarian Health Partners, which leases approximately 325,000 square feet of space throughout nine of the properties. Medical Portfolio 3 was acquired from HCP Inc. for an undisclosed amount. Financing for the acquisition was provided by Fifth Third Bank and through the utilization of the Grubb & Ellis Healthcare REIT line of credit.
LA VISTA, NEB. — Hotelier John Q. Hammons has opened the 257-suite Embassy Suites Omaha/La Vista — Hotel & Conference Center located at 12520 Westport Pkwy. in La Vista. Adjacent to the seven-story facility is a 100,000-square-foot conference center, which includes a grand ballroom that can host approximately 2,000 people. Springfield, Mo.-based John Q. Hammons Hotels & Resorts will manage the hotel. The development complex also includes Hammons’ 246-unit Courtyard by Marriott, which is slated for completion in spring 2009. Courtyard by Marriott will be connected to the La Vista Conference Center through a glass walkway.
WARREN, MICH. — Twin Cities-based Welsh Cos. has arranged the acquisition of a vacant 211,750-square-foot industrial building located at 25295 Guenther Rd. in Warren. Two companies have signed leases at the facility, requiring a 22,150-square-foot building expansion. Brose North America has leased 96,250 square feet; Oakley Industries has leased 137,650 square feet. Thomas Schoenberger of Welsh Cos. represented the landlord in the transaction. Neither the acquisition price nor the financial terms of the leases were disclosed.
KIRKWOOD, MO. — On behalf of a group of independent physicians, St. Louis-based ARCO Construction Co. has completed the $3 million Copia Medical Office Building located at 816 S. Kirkwood Rd. in Kirkwood. The two-story, 25,000-square-foot facility, which is situated on a 2-acre site, will house eight physician practices including an asthma and allergy specialist, an obstetrician, and a gynecologist. Each practice contains a private reception and waiting area. Ross Baruzzini designed the building, which features a brick exterior accompanied by 20 two-story curtain wall panel windows.
ROCHESTER, MINN. — Viking Hospitality Fund has announced plans to develop a 124-room Hampton Inn & Suites located at the corner of 59th Street and Bandel Road NW in Rochester. Situated on a 2.3-acre site, the facility will be managed by Prism Hotels & Resorts. The building is slated for completion in mid-2009. Viking Hospitality, which builds hotels nationally under the Hilton and Marriott brands, was formed as a joint venture between Dallas-based Prism Hotels & Resorts, Des Moines, Iowa-based SeaCys Holdings and Atlanta-based Hotel Assets Group.
EDWARDSVILLE, ILL. — Sacramento, Calif.-based Panattoni Development Co., acting as general contractor, has negotiated a build-to-suit contract with St. Louis-based World Wide Technology for a 700,000-square-foot office/industrial facility located within the 7 million-square-foot planned Lakeview Commerce Park in Edwardsville. World Wide Technology plans to use 10,000 square feet for office facilities, and 690,000 square feet for warehousing, distribution and technology purposes. Amenities at the building include 32-foot clear-height ceilings, ESFR sprinkler systems, and modern loading and trailer storage areas. The value of the property, which was leased for a 5-year term, is estimated at approximately $30 million to $31.5 million. Thomas Homco and David Zeigler of Lee & Associates’ St. Louis office represented Panattoni; Ryan Keiser and Tim Convy of CB Richard Ellis represented World Wide Technology in the transaction. The building is slated for completion in December.
FAIRFIELD, OHIO — Nagoya, Japan-based Takumi Stamping, a producer of small metal stamped auto parts, has broken ground on a 120,000-square-foot manufacturing facility located at 8585 Seward Rd. in Fairfield. The new facility will produce parts for all Toyota vehicles manufactured in the United States. Bunnell Hill Construction will develop the 18-acre site, which was purchased by Takumi Stamping from Bunnell Hill Development Co. Henkle Schueler & Associates represented the buyer in the transaction. The acquisition price was not disclosed.
KANSAS CITY, MO. — Grubb & Ellis|The Winbury Group has acquired the Kansas City assets of Greenleaf Properties and is merging the commercial real estate operations of the two offices in Kansas City. The deal comes after Omaha, Nebraska-based Grubb & Ellis|Pacific Realty acquired the sum of Greenleaf’s assets in Lincoln, Nebraska, and absorbed the company’s local office. Co-founder of Greenleaf Properties, Walt Clements, will become affiliated with Grubb & Ellis|The Winbury Group. Greenleaf Properties will continue to develop in Kansas City, and Grubb & Ellis|The Winbury Group will lease and manage the facilities. Existing properties that were acquired in the merger include Deer Creek Woods in Overland Park, Kan., and Ridgeview Falls in Olathe, Kan.
DOWNERS GROVE, ILL. — Duke Realty Corp. has arranged leases totaling 80,000 square feet within the three-building, 650,000-square-foot Executive Towers West, which is located off of Finley and Butterfield roads in Downers Grove. At Executive Towers West II, Abercrombie & Kent — a luxury travel company — has signed a 10-year lease for 42,284 square feet of office space. The new office will become the company’s North American headquarters. Jason Volpe and Rick Schuham of Studley represented Abercrombie & Kent; Josh Robbins of Duke Realty Corp. represented ownership in the transaction. Additionally, Oakbrook Terrace, Ill.-based Redbox Automated Retail has leased 24,000 square feet of space within Executive Towers I. The company will relocate to the new facility in August. Diana Riekse and Andrea VanGelder of The Staubach Company represented Redbox Automated Retail; Robbins represented ownership in the transaction. Smaller leases recently negotiated by Duke Realty Corp. at Executive Towers West include Bibby Financial Services’ expansion and Brocade Communication Systems’ renewal.
ARLINGTON HEIGHTS, ILL. — Arlington Heights, Ill.-based Brian Properties has brokered the sale of approximately 26,000 square feet of mixed-use commercial condominiums within the Metropolis Theater Building in Arlington Heights. Banbury Properties LLC sold the condos to Oakwood Properties LLC for approximately $6 million. Tenants within the building include Labatt USA Beer Academy, Carlos & Carlos Italian-French Restaurant, and Resource Mortgage Group. Thomas Hellgeth of Brian Properties represented both parties in the transaction.