Midwest

MAGELLAN DEVELOPMENT GROUP COMPLETES 51-STORY TIDES AT LAKESHORE EAST

by admin July 1, 2008

CHICAGO — Magellan Development Group has completed construction of The Tides at Lakeshore East, which is located at 360 E. South Water St. in Chicago. This is the second multifamily tower constructed within the $4 billion, 28-acre mixed-use Lakeshore East development. The 51-story building, which is 50 percent leased, houses 608 rental units, 397 indoor parking spaces and 5,000 square feet of ground-floor retail space. Studio, convertible, and one- and two-bedroom residences are available within the pet-friendly facility. Amenities at the building include tiled entryways, expansive bay windows, in-home laundry areas and glass-paneled private balconies with floor-to-ceiling windows.

July 1, 2008

CONSTRUCTION ADVANCES AT 1.3 MILLION-SQUARE-FOOT CORRIDOR-75 LOGISTICS PARK

by admin July 1, 2008

MONROE, OHIO — Vandercar Holdings, acting as owner and developer of the Corridor-75 Premier Logistics Park in Monroe, has begun construction on Spec Building #2 as well as the entrance road to the park. The new entrance road, which is being constructed by John R. Jurgensen Co., will be five lanes wide, and will run between the nearly completed 650,000-square-foot Home Depot rapid deployment center and the 650,000-square-foot Spec Building #2. Paul Hemmer Co. is the general contractor for both projects in the industrial center. Corridor-75 Premiere Logistics Park has a total of 1.3 million square feet of space currently under construction.

July 1, 2008

Midwest

CBRE |MARTIN ARRANGES ACQUISITION OF 46,000-SQUARE-FOOT CHURCH AND SCHOOL

by admin July 1, 2008

LANSING, MICH. — CB Richard Ellis|Martin has represented Ingham County in the acquisition of Our Savior Lutheran Church and School located at 1601 W. Holmes Rd. in Lansing. Ingham County has purchased the 46,000-square-foot facility, which is situated on a 22-acre site, in order to operate its Continuum of Care program and the Ingham County Food Bank. The acquisition price was not disclosed.

July 1, 2008

Healthcare Midwest

THOMPSON THRIFT COMPLETES 9,020-SQUARE-FOOT MEDICAL OFFICE SALE

by admin July 1, 2008

TERRE HAUTE, IND. — Thompson Thrift has completed the sale of a 9,020-square-foot medical office facility and an approximately 1-acre vacant lot adjacent to the property located at 227 E. McCallister Dr. in Terre Haute. Terre Haute Surgical Center leases the single-tenant building as the St. Vincent Surgery Center of Terre Haute. The seller was represented by Jeff Wright of Thompson Thrift; the buyer, Terre Haute Medical Clinical Facility LLC, negotiated the transaction in-house. The acquisition price was not disclosed.

July 1, 2008

Midwest Mixed-Use

SPENCER STUART LEASES 100,000 SQUARE FEET OF OFFICE SPACE IN CHICAGO

by admin June 30, 2008

CHICAGO — Jones Lang LaSalle has represented Spencer Stuart in leasing approximately 100,000 square feet of space within Mesirow Financial Real Estate’s 45-story, Class A office tower located at 353 N. Clark in Chicago’s River North. Spencer Stuart, which is slated to relocate in 2010, will occupy space of four floors — half of floor 23 and floors 24 through 26 — to accommodate 350 employees. When the 1.17 million-square-foot office tower is completed in 2009, it will feature three restaurants, a health club and underground parking. Bill Rogers, Jeff Liljeberg and Elaine Melonides of Jones Lang LaSalle negotiated the transaction on behalf of Spencer Stuart.

June 30, 2008

Midwest Retail

MARCUS & MILLICHAP BROKERS $2.26 MILLION SALE OF 7,575-SQUARE-FOOT FACILITY

by admin June 30, 2008

MANHATTAN, KAN. — Marcus & Millichap has brokered the approximately $2.26 million sale of a single-tenant Bridgestone/Firestone facility in Manhattan. Bridgestone/Firestone signed a 15-year, triple-net lease with 10 percent rent increases every 5 years. The 7,575-square-foot building is shadow-anchored by a Wal-Mart Supercenter. Evan Halkias and Michael Marks of Marcus & Millichap’s Downtown Chicago office represented the seller; Brian Parmacek and Steven Rachman, also of Marcus & Millichap’s Downtown Chicago office, represented the buyer in the transaction.

June 30, 2008

Midwest Office

THE STAUBACH COMPANY ARRANGES 150,000-SQUARE-FOOT OFFICE LEASE

by admin June 30, 2008

LENEXA, KAN. — Larry Glaze, Jennifer Carroll and Dean Heueisen of The Staubach Company have represented Kiewit Power Group in leasing 150,000 square feet of office space in Lenexa. The long-term lease for the new built-to-suit Class A office building is one of the largest office deals completed in Kansas City this year. Kiewit Power Group is expected to occupy the facility in June 2009. Financial terms of the lease were not disclosed.

June 30, 2008

Midwest Multifamily

TIKIJIAN ASSOCIATES ARRANGES SALE OF 336-UNIT APARTMENT FACILITY

by admin June 30, 2008

INDIANAPOLIS — Tikijian Associates has represented Indianapolis-based Pedcor Cos. in the sale of Mann Village Apartments located on Mann Road in Indianapolis. The 336-unit community, which has been operating as an affordable housing property, was acquired by Memphis, Tenn.-based Global Ministries Fellowship. The asking price was $14.4 million.

June 30, 2008

Industrial Midwest

NAI MLG COMMERCIAL ARRANGES PURCHASE OF 10,794-SQUARE-FOOT FACILITY

by admin June 30, 2008

NEENAH, WIS. — NAI MLG Commercial has arranged the purchase of a 10,794-square-foot industrial facility located at 2340 Industrial Dr. in Neenah. Jeta Corp. has acquired the building, which is situated on a 1.38-acre site, for an undisclosed amount. The company purchased the facility in order to consolidate several locations and allow for expansion.

June 30, 2008

Midwest Retail

ARCO COMPLETES 100th LAMBORGHINI DEALERSHIP WORLDWIDE

by admin June 27, 2008

CHESTERFIELD, MO. — St. Louis-based ARCO Construction Co. has completed a $3.8 million Lamborghini dealership located at 9 Arnage Dr., adjacent to Highway 40, in Chesterfield. The 2,700-square-foot facility, which is Lamborghini’s 100th dealership worldwide, was developed for entrepreneurs J.J. Mills and Graham Hill. Features of the showroom include a 60- by 10-foot catwalk platform that can hold four automobiles, a 25-foot fountain, and a motor court that unites the Lamborghini showroom with the Bentley and Maserati dealerships. An additional two showrooms totaling more than 2,500 square feet were constructed within the Lamborghini facility for future luxury and exotic car dealerships.

June 27, 2008

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