LINCOLN, NEB. — Grubb & Eliss|Pacific Realty has acquired the assets of Greenleaf Properties and is merging the operation of the two existing offices in Lincoln. The combined company will be responsible for approximately 1.7 million square feet of property management assignments in Lincoln. President of Greenleaf Properties, Don Linscott, will remain with the firm; vice president for Grubb & Ellis|Pacific Realty, Cathi Johnson-Haisch, will be responsible for the newly expanded brokerage division within the combined operation. Mark Bronder has been appointed by Grubb & Ellis|Pacific Realty to become the vice president and director of the newly merged office.
COOK COUNTY, ILL. — On behalf of DP Partners, Meridian Design Build has completed a 496,000-square-foot speculative industrial facility within DP Partners’ LogistiCenter at Sauk Village in Cook County. The building, which is located 20 miles south of Chicago, sits on a 26.5-acre site. Features of the facility include 32-foot clear heights, 50-by-50-foot warehouse bays with 60 feet deep staging bays, two drive-in doors, and parking for 189 cars and 59 trailers. The design of the front-loaded facility provides the option to cross-dock and/or rail-serve the rear of the building, and allows for 1.2 million square feet of expansion. Joe Blanchard and Tim Jones handled the project for Meridian Design Build; Palatine, Ill.-based Harris Architects provided architectural services for the project.
MILWAUKEE — West Bend, Wis.-based American Design-Build and North Liberty, Iowa-based Kinseth Hospitality Cos. have begun construction of an 82-unit Sleep Inn & Suites located at the intersection of Layton Avenue and South 6th Street in Milwaukee. Amenities at the three-story Sleep Inn & Suites, which is a division of Choice Hotels International, will include an indoor pool, fitness center, complimentary morning medley breakfast and a meeting room that can hold up to 35 people. The facility is expected to open in early 2009. American Design-Build and Kinseth Hospitality Cos. also have hotels under development in Grafton and Madison, Wis.
WEST DES MOINES, IOWA — Hubbell Realty Co. has broken ground for construction of a retail center within the company’s GreenWay Crossing community in West Des Moines. The center, which is located at 88th Street, is 100 percent leased. Additional construction for the community includes another retail building, LEED-certified office space and additional homes. A 6,406-square-foot 7 Flags X-Press health and fitness club, which is slated for completion this fall, will anchor the new development. The 24-hour workout facility will be the first fitness center in Iowa to emphasize exercise gaming. Members can compete with other people around the country using exercise video games including Dance Dance Revolution, a video kickboxing game and a video bicycling game.
EAST LANSING, MICH. — Strathmore Development Co. has been approved to begin construction of City Center II, a $116 million, 5.8-acre brownfield redevelopment located at Grand River Avenue and Abbot Road, adjacent to Michigan State University, in the East Lansing central business district. The central feature of City Center II will be a 10-story mixed-use building containing 80 residential units, a 400-seat performing arts theater, Hotel Indigo, an upscale bistro and wine bar, retail space, and an office component. Other facets of the project include a six-level parking structure containing 520 spaces; a five-story, mixed-use building with first-floor retail and residential units above; a four-story residential building; and 12 townhome condos. Lansing, Mich.-based Clark Construction Co. and Grand Rapids, Mich.-based Fryling Construction will manage project construction. Demolition and construction of the project, which is expected to achieve LEED certification, is slated to commence in the fourth quarter, with completion scheduled for the first quarter of 2011.
EDWARDSVILLE, ILL. — Lindsey Stieve and Terry Stieve of Colliers Turley Martin Tucker have represented Procter & Gamble in the $24.3 million lease of 1.1 million square feet of industrial space in Edwardsville. The newly constructed one-story facility, which is located at 3101 Westway Dr., was leased from Multi-Employer Property Trust for a 5-year term. Procter & Gamble, which will use the building as a warehouse and distribution center for home care products, will take immediate occupancy.
EDWARDSVILLE, ILL. — Lindsey Stieve and Terry Stieve of Colliers Turley Martin Tucker have represented Procter & Gamble in the $24.3 million lease of 1.1 million square feet of industrial space in Edwardsville. The newly constructed one-story facility, which is located at 3101 Westway Dr., was leased from Multi-Employer Property Trust for a 5-year term. Procter & Gamble, which will use the building as a warehouse and distribution center for home care products, will take immediate occupancy.
COLUMBUS, OHIO — SVN Equities has acquired a three-property commercial portfolio totaling 416,225 square feet of space around suburban Columbus from Och-Ziff Real Estate. The properties, which were acquired for approximately $20 million, include Metro Lakes Office Building, a five-story 96,876-square-foot office facility located at Metro Place South in Dublin, Ohio; Westpointe Business Park, a four-building office community encompassing 238,982 square feet of flex office space located at 2249-2361 Westbrooke Dr. in Columbus; and Westpointe Industrial, two multi-tenant, single-story industrial buildings housing 80,367 square feet of space located at 4000-4014 Venture Ct. in Columbus. Frank Kosi of Sperry Van Ness’ Newport Beach, Calif., office represented SVN Equities; Chris Salomone of Grubb & Ellis/Adena Realty Advisors represented Och-Ziff Real Estate in the transaction. SVN Equities will oversee management of the portfolio, which are 84 percent occupied.
COLUMBUS, OHIO — SVN Equities has acquired a three-property commercial portfolio totaling 416,225 square feet of space around suburban Columbus from Och-Ziff Real Estate. The properties, which were acquired for approximately $20 million, include Metro Lakes Office Building, a five-story 96,876-square-foot office facility located at Metro Place South in Dublin, Ohio; Westpointe Business Park, a four-building office community encompassing 238,982 square feet of flex office space located at 2249-2361 Westbrooke Dr. in Columbus; and Westpointe Industrial, two multi-tenant, single-story industrial buildings housing 80,367 square feet of space located at 4000-4014 Venture Ct. in Columbus. Frank Kosi of Sperry Van Ness’ Newport Beach, Calif., office represented SVN Equities; Chris Salomone of Grubb & Ellis/Adena Realty Advisors represented Och-Ziff Real Estate in the transaction. SVN Equities will oversee management of the portfolio, which are 84 percent occupied.