CINCINNATI — Corporex has plans to expand its mixed-use Baldwin Professional Center, which is on the northern rim of downtown Cincinnati, to include a Springhill Suites by Marriott. With the addition, the Baldwin Professional Center will contain 123 suite hotel rooms; 800,000 square feet of office space, including the new Humana regional headquarters; two restaurants; a fitness center; and covered parking. The new hotel, which is located adjacent to Humana, is slated for completion in March 2009. The Hartmann-Ryan team of Colliers Turley Martin Tucker serves as the leasing team for the development.
ROCHELLE, ILL. — ProLogis has signed a build-to-suit agreement with Westchester, Ill.-based Bay Valley Foods to develop a 600,000-square-foot distribution center for the company within the 300-acre ProLogis Park in Rochelle. Bay Valley Foods will use the LEED-certified building primarily as a warehouse and distribution center. Construction of the facility, which is located approximately 75 miles west of Chicago, is scheduled to begin this summer. At full build out, ProLogis Park will comprise approximately 4 million square feet of industrial space in 10 distribution facilities.
CAROL STREAM, ILL. — On behalf of Atlanta-based Seefried Properties, Krusinski Construction Co. has completed construction of an 112,000-square-foot speculative warehouse within the Kehoe Business Center in Carol Stream. The facility, which is located on a 6.2-acre site at 250 Kehoe Blvd., features 133 parking spaces, 18 exterior docks and two drive-in doors. Michael Metz, Stephen Moeller and Jeff Lycan of Krusinski were part of the project team.
WOODRIDGE, ILL. — Bill Waliewski of Morgan Realty Partners has completed two leases within Woodridge Commerce Centre, a three-building, 147,000-square-foot incubator complex located within Internationale Centre at 10204 Werch Dr. in Woodridge. The buildings, which contain spaces ranging from 2,400 square feet to 10,000 square feet in size, feature 18- to 20-foot clear ceiling heights, complete sprinkler systems, and individual truck docks or grade-level drive-in doors. The complex is owned by Principal Realty Investors; Morgan Realty Partners provides leasing and management. Charlotte, N.C.-based Etak Systems has leased 5,062 square feet of space for its expansion to the Chicago marketplace. Waliewsky represented the owner, Woodridge Commerce Centre LLC. Tim O’Leary of O’Leary Realty represented Etak Systems. Additionally, Exhibit Development Group has leased 2,991 square feet of space. Exhibit Development Group negotiated the lease transaction in-house.
MILFORD, MICH. — Lee & Associates of Michigan has represented both parties in the sale of 14,800 square feet of industrial space located at 4999 McCarthy Dr. in Milford. Barry Landau represented the buyer, Parita Michigan Ventures LLC, which has acquired the facility for the expansion of its Michigan operations; Jon Savoy and Joseph Pellerito represented the seller. The price of acquisition was not disclosed.
What area is your expertise? Office leasing and sales. What trends do you see presently in office development in your area? Most of the office development in our area is in the medical services and is space that controlled by the large Hospital groups. Who are the active office developers in your area? Second Story, Locus Development, First Companies, AJV, Christman, Fusion Properties, and others. Please name one or two significant office developments in your area. What impact will these projects have on the market? The new Medical centers on Michigan Ave Hill that will include a new DeVos Children’s Hospital, Lemmen-Holton Cancer Center, MSU Medical School, Expansions to the VanAndel Institute, and the new Metro Health Village in the southwest suburbs. These new buildings signify the new “industry” of West Michigan and will impact future developments for the next 25 years. Where is the majority of development taking place? Why is this area doing well? As stated above most of the development in the Grand Rapids area has been related to the Health Fields on Michigan Ave Hill (known as Medical Mile) and at the new Metro Health Village in the southwest suburbs. Health care is relatively recession proof, …
MINNEAPOLIS — Kraus-Anderson Construction Co. is set to break ground on an 185,000-square-foot children’s hospital building for the University of Minnesota Children’s Hospital, Fairview’s Riverside campus in Minneapolis. The building will consolidate the hospital’s pediatric specialty care units currently located in a variety of settings within the University of Minnesota Medical Center. Tsoi/Kobus & Associates and Hammel Green and Abrahamson Inc. are designing the project. The new building is slated for completion in 2011.
CHESTERFIELD, MO. — Sachs Properties has begun construction of Central Park Square Office II, a 150,000-square-foot, Class A office building located in the Downtown Chesterfield master-planned community. In addition to the six-story facility, four pedestrian-oriented retail buildings totaling 26,000 square feet and two lakes are being constructed. Subsequent phases of Downtown Chesterfield include residential, retail, cultural and office developments on approximately 200 adjoining acres.
MISHAWAKA, IND. — Grubb & Ellis|Cressy & Everett has leased 80,890 square feet of space within the Indian Ridge Plaza, which is located at 5802 Grape Rd. in Mishawaka, to h.h.gregg and Bed Bath & Beyond. Construction is underway on the 42,280-square-foot h.h.gregg, which is expected to open in July. Bed Bath & Beyond will relocate to its 38,610-square-foot facility in the first quarter of 2009. Kimco Realty, the landlord, was represented in both transactions by Tim Mehall, Matt Creviston and Mindy Risser of Grubb & Ellis|Cressy & Everett.
O’FALLON, ILL. — Swansea, Ill.-based Holland Construction Services has completed construction of the $3.7 million expansion for O’Fallon School District #203, which will eliminate overcrowding at O’Fallon Township High School. The expansion includes seven classrooms, new chemistry labs and 1,000 square feet of administrative offices. Wm. B. Ittner served as the architect for the project. Holland Construction and Ittner are also working together on the $37 million O’Fallon Township High School Millburn Freshman Campus expansion, which is currently under construction.