CHICAGO — Jones Land LaSalle (JLL) has negotiated the long-term lease of 78,000 square feet of space within Aon Center, located at 200 E. Randolph St. in Chicago, for Microsoft Corp. The new location constitutes an approximately 30,000-square-foot expansion from the firm’s previous office, located at 77 West Wacker in Chicago. It will serve as the headquarters for the firm’s Midwest District, comprising Illinois, Indiana and Wisconsin. Steve Steinmeyer and Luanne Reedy of JLL represented Microsoft in the transaction. The landlord, Norcross, Ga.-based Piedmont Office Realty Trust, was represented by Steve Smith and Mike Curran, also of JLL.
CHICAGO — Chicago-based Paine/Wetzel • ONCOR International has arranged the sale of a 155,000-square-foot industrial building located at 1120 E. 89th St. in Chicago. Michael Nelson of Paine/Wetzel represented the buyer, 1120 E. 89th St. LLC; the seller, Amalgamated Bank, utilized in-house representation. Nelson also represented the Chicago Transit Authority (CTA) in the subsequent leasing of 80,000 square feet within the facility. The CTA plans to use the space as a training and bus repair facility.
COUNCIL BLUFFS, IOWA — Omaha, Neb.-based Darland Construction Co. has been selected to build an 80,000-square-foot Shopko within the Marketplace in Council Bluffs shopping center, located in Council Bluffs. Shopko will be implementing its new prototype design. The store is scheduled to open in March 2009, and will co-anchor the shopping center with JC Penney. Darland already managed site improvement for the 50-acre shopping center, and is building an additional 120,000 square feet of inline retail shops on the property. Later this year, Darland will begin construction of an additional 30,000 square feet of space. Marketplace in Council Bluffs is being developed by Omaha-based Magnum Development.
DOWNERS GROVE, ILL. — Chicago-based NAI Hiffman has brokered the sale of Main Street Station Crossing, an 11,456-square-foot retail center located at 980 Warren Ave. in Downers Grove, for $3.5 million. The multi-tenant property is anchored by Al’s #1 Italian Beef. Chad Firsel of NAI Hiffman represented the seller, a Chicago-based developer. The property was acquired by a Chicago-based private investor.
COLUMBUS, OHIO — NorthMarq Capital has arranged $7.45 million in first-mortgage financing for a 115,250-square-foot office building located in Columbus. The three-story, Class A building as recently acquired by a New Jersey-based real estate investment group, which plans to renovate and reposition the property. The loan is for a 5-year term with a 30-year amortization schedule. Richard Koch of NorthMarq’s New Jersey regional office secured the loan.
ROMEOVILLE, ILL. — Meridian Design Build has been selected to provide design/build general contracting services for the construction of Bluff Point III Distribution Facility, a 506,800-square-foot industrial building located within Bluff Point Business Park in Romeoville. The multi-tenant building will feature cross-docking, 30-foot clear ceiling heights, four drive-in doors and space for future trailer parking stalls. Construction is scheduled to begin this spring, with completion in the fourth quarter. Bluff Point Business Park is being developed by Land and Lakes Development Co. The project’s design team includes Harris Architects and Jacob & Hefner Associates. Jeff Kapcheck and Lynn Reich of Colliers Bennett & Kahnweiler are providing leasing services.
BOLINGBROOK, ILL. —Forest City Enterprises has announced that two new tenants will be coming to The Promenade Bolingbrook, the developer’s 736,000-square-foot lifestyle center located at the intersection of Interstate 355 and Boughton Road in Bolingbrook. Chesapeake, Va.-based hotel developer LTD Management Co. will begin construction this month for a 155-room aloft hotel. Guest lofts in the hotel will feature 9-foot ceilings, oversized windows and flat-panel, high-definition televisions. The hotel is scheduled to open in June 2009. Additionally, an eight-screen Village Roadshow Gold Class Cinema is also coming to The Promenade Bolingbrook. The theater will open on the second level of the center, and will include amenities such as custom reclining seats, VIP concierge and valet services, and a full-service bar and lounge that will serve customers at their seats.
OAK CREEK, WIS. — Butler, Wis.-based Berghammer Construction Corp. has completed Howell Avenue Professional Building, a two-story, 20,000-square-foot office building located on South Howell Avenue in Oak Creek. In addition to building construction, Berghammer also completed interior build-outs for two of the tenants, Wasserman & Associates and Oak Creek Pediatrics. The building was designed by Welman Architects, and is owned by RW Howell LLC, a partnership between Rick Ruvin and Dan Wasserman. The building is the first phase of a multi-phase development on the site.
CHICAGO — Marcus & Millichap has brokered the sale of a 31-unit apartment building, located at 1120 E. 82nd St. in Chicago, for $1.17 million. The property also features 60 parking spaces. John Olar of Marcus & Millichap’s Chicago Downtown office represented both undisclosed parties in the sale.
ZION, ILL. — Sacramento, Calif.-based Panattoni Development Co. will break ground this month for Phase II development of the $170 million Trumpet Park, a master-planned industrial park located in Zion. New development will consist of a 1-mile roadway running through the park, as well as a 150,000-square-foot, multi-tenant industrial building. The first phase, which was completed in 2007, includes the 25-acre FedEx Distribution Center. Upon completion in 2012, the park will span 217 acres; 58 acres near the development have also been designated a wetland preservation. Mike Prost of Lee & Associates of Illinois is serving as exclusive leasing agent for the park.