CLEVELAND — The K&D Group has purchased the $64.7 million Atrium complex, formerly the William Taylor & Sons Department Store, located at 668 Euclid Ave. in downtown Cleveland. A 450-space parking garage located at 645 Prospect Ave. and the Dollar Bank Building located at 614 Euclid Ave. were also acquired in the transaction. K&D is planning the historic renovation of the Atrium into a mixed-use facility containing approximately 240 luxury apartments, and 65,000 square feet of commercial and retail space. The redevelopment is anticipated to be complete in 2010. Financing for the acquisition was provided by a variety of sources. The two-building Atrium complex, which was sold by David Goldberg, features a 73-foot high atrium connecting an eight-story building and a four-story building.
INDIANAPOLIS — On behalf of Locke Reynolds LLP, Tim O’Brien and Samuel Smith of Indianapolis-based Resource Commercial Real Estate have arranged a 56,000-square-foot lease in the Capital Center located at 201 North Illinois St. in downtown Indianapolis. The law firm, which currently occupies floors eight to 11 in the same building, is expected to move to floors 19 to 23 in December. Gensler, an interior design, planning and strategic consulting firm, has been contracted to design the space.
CENTRALIA, ILL. — Holland Construction Services has completed construction of the 54,851-square-foot Hertiage Woods Supportive Living Facility in Centralia. Blair Minton and Associates owns the $6.4 million, two-story building, which is divided into three wings that contain 74 units, making it the largest senior living facility in the area. Individual living quarters include a private bathroom, kitchenette, and individual heating and air conditioning controls. Gleason Architects of Sugar Grove, Ill., has provided the architectural services.
AURORA, ILL. — Riverwoods, Ill.-based Podolsky Northstar CORFAC International has begun site work for Phase II of Orchard 88 Business Park in Aurora. The second phase begins just as Candlewood Suites breaks ground on its new design prototype, which will be developed on a 2.18-acre parcel in Phase I of the multi-use facility. Costing approximately $1 million to complete, Phase II infrastructure work will enable Orchard 88 to offer pad-ready, 1.5- to 10-acre sites along Interstate 88.
TROY, MICH. — L. Mason Capitani TCN Worldwide has brokered the sale of a 21,408-square-foot industrial facility located at 1937-1943 Barrett Dr. in Troy. Priced at $1 million, the building will be completely remodeled and part of the facility will be offered for rent. Gary Rodgers of L. Mason Capitani represented the buyer and seller in this transaction.
ROCKFORD, ILL. — On behalf of American Theatre Corp., Cincinnati-based Paul Hemmer Cos. has arranged a $22 million lease of a 38,847-square-foot space at Riverside Pavilion, a retail center located at 5875 E. Riverside Blvd. in Rockford, Ill. The tenant plans to open Village Grille, a multi-screen movie/dinner theater complex that will serve as a major anchor tenant at the 87,000-square-foot development, which was acquired and renovated by Hemmer in 2007. The theater will feature stylish décor, DTS digital sound systems, upgraded interior finishes and high-definition projection systems.
CLEVELAND — CB Richard Ellis has formed an agreement with Duke Realty Corp. to oversee leasing, property management and maintenance of Duke’s Cleveland office portfolio, which includes 14 suburban office properties totaling more than 1.32 million square feet in size. Doug Leary has been named the primary leasing contact for CBRE. The 10 associates working in Duke’s Cleveland office were offered positions with CBRE.
GLENVIEW, ILL. — Elmhurst, Ill.-based International Contractors has broken ground on a 42,000-square-foot Fields auto dealership located at 2800 Patriot Blvd. in Glenview, Ill. To prepare the approximately 6-acre site for construction, International Contractors has installed the facility’s stormwater detention center, and is currently conducting mass grading and constructing the building pad. The new sales and service facility for Chrysler, Jeep and Dodge will include a stucco outer finish with a glass curtain wall, approximately 20-foot vaulted ceilings, a large showroom, a service area with parts department, a café and executive offices.
UNIVERSITY PARK, ILL. — Ralph DePasquale and Bill Montana of Hendricks & Partners’ Chicago office arranged the sale of Governor’s House, a multifamily facility located at 851 Burnham Drive in University Park, on behalf of LSF5 Governor’s House LLC of Dallas, Texas. Governors House Apartments LP of Evanston, Ill., purchased the 96-unit apartment community for an undisclosed amount, and is planning a substantial renovation of the property.
CHICAGO — Patrick Caruso and Miraya Vlacho of L.J. Sheridan & Co. have represented The Chicago Catholic Archdiocese in the 99-year ground lease of 155 E. Superior St. in Chicago to Children’s Memorial Hospital. U.S. Equities’ Martin Stern represented Children’s Memorial Hospital in the $18 million lease transaction.