AURORA, ILL. — CB Richard Ellis (CBRE) has arranged the sale of West Aurora Plaza, a 207,102-square-foot community shopping center located at 1901-1961 W. Galena Blvd. in Aurora. The property includes six buildings comprising 21 units. It is 88 percent occupied, and is anchored by Wal-Mart. Additional tenants include Auto Zone, Hallmark, Blockbuster Video and Sally Beauty Supply. George Good and Christian Williams of CBRE represented the seller, Arnold Lies Co.; the property was acquired by Northbrook, Ill.-based The Cloverleaf Group for an undisclosed amount.
CHICAGO — Summit Design + Build has been selected to serve as general contractor for the construction of Halsted Pershing Business Center, a 104,000-square-foot, speculative industrial building located in Chicago’s Stockyard Industrial Park at the corner of Halsted Street and Pershing Road. The single-story structure, which is situated on 6.6 acres, will be divisible from 10,000 square feet and will be able to accommodate as many as six tenants. Features will include 30-foot clear ceiling heights, four drive-in doors and eight exterior docks. Dayton Street Partners is the owner and developer of the project, and has hired Cornerstone Architects to provide design services. Michael Senner of Colliers Bennett & Kahnweiler is serving as exclusive marketing agent. Completion is scheduled for this fall.
ROCHESTER, MINN. — Minneapolis-based Timberland Partners has acquired Brandywine Apartments, a 119-unit multifamily community located in Rochester. Property amenities include a playground and a basketball court. Timberland Partners is planning to complete $500,000 in capital improvements to the property, including roof replacement where necessary, exterior siding repair and the installation of washers and dryers in individual units. The seller, as well as the acquisition price, was undisclosed.
GROVEPORT, OHIO, AND CHICAGO — AFIAA has acquired two industrial properties for a total of $72 million. In Groveport, the company purchased a 1.2 million-square-foot distribution center, located at 2829 Rohr Rd., for approximately $51 million. In Chicago, AFIAA purchased a 500,000-square-foot commercial building, located at 2700 N. Elston Ave., for approximately $21 million. Both properties are fully leased. The sellers in both transactions were undisclosed.
AURORA, ILL. — Hoffman Estates, Ill.-based Leopardo Construction has completed site work and is beginning construction of the new $70 million Aurora Police Headquarters and Branch Facility. Located on Indian Trail Road in Aurora, the project will include a three-story, 155,000-square-foot building that will serve as police headquarters, a branch court facility and a 911 call center. Other facilities will include a 40,000-square-foot training and support building for evidence processing and storage, as well as a 200,000-square-foot parking deck for fleet services, employee and public parking. The project is also seeking gold-level LEED certification from the U.S. Green Building Council. Leopardo is serving as primary construction manager, with Aurora-based R.C. Wegman managing construction for the support center and parking structure. Phoenix-based McClaren, Wilson & Lawrie is providing design architecture services, with Cordogan Clark & Associates serving as architect-of-record. Completion is expected in early 2010.
ARLINGTON HEIGHTS AND SCHAUMBURG, ILL. — CB Richard Ellis (CBRE) has brokered the sale of two Chicagoland industrial properties totaling approximately 75,000 square feet. In Arlington Heights, Intelligent Holdings acquired a 43,370-square-foot building, located at 2461 Oakton St., from Crystal Springs. CBRE’s Ryan Bain, Keith Puritz and Brett Kroner represented the buyer; Chris Volkert of Colliers Bennett & Kahnweiler represented the seller. The acquisition price was not disclosed, but the asking price was $3.5 million. In Schaumburg, Bain, Puritz and Kroner, along with Joel Schneider of Atlas Partners, were the sole brokers in the sale of a 31,637-square-foot property located at 2095-2105 Hammond Dr. The property was acquired by Wrightwood Capital from Hammond Drive LLC in a sale/leaseback transaction. The acquisition price was not disclosed, but the property listed for $3 million.
BRANSON, MO. — Springfield, Mo.-based John Q. Hammons Hotels & Resorts has announced plans to develop a new hotel within the 7,500-acre Branson Creek master-planned community in Branson. The hotel, which will be located at 1001 Branson Creek Rd. near the new Branson Regional Airport, will have six to nine stories, 180 to 200 rooms and will contain meeting space. Construction is set to begin this fall, with completion scheduled for summer 2010.
GERMANTOWN, WIS. — Milwaukee-based Colliers Barry recently arranged the purchase of the Wisconsin Lift Truck facility, a 41,094-square-foot industrial facility located on Bunsen Drive in Germantown. Kenneth Braden of Colliers Barry represented the buyer, California-based Morse Properties, which acquired the property from Wolter Investment Co. for an undisclosed amount. James Young, also of Colliers, was the listing broker in the transaction.
ST. LOUIS — McCarthy Building Cos. is advancing construction for two office projects for financial firm Edward Jones in St. Louis. At the firm’s North Campus, which is located near the interchange of Interstate 270 and Dorsett Road, site work has been completed for a nine-story, 372,000-square-foot office building, a four-story training center and a multi-purpose room. The office building is the first of three new office buildings and corresponding parking garages that are being built by McCarthy at the campus over the next 3years. At Edward Jones’s South Campus, which is located at the corner of Manchester and Ballas roads, construction is advancing for a 225,000-square-foot office addition and a 960-car parking garage adjacent to the firm’s headquarters office. Completion for the North and South Campus projects is scheduled for September 2009 and November 2009, respectively. McCarthy is providing construction management services, with architectural services provided by St. Louis-based Arcturis.
INDIANAPOLIS — Tim Hoffman and Gary Woodworth of CB Richard Ellis’ Indianapolis office have negotiated the disposition of two office buildings in Indianapolis for Premier Equities. The purchase represents the buyer’s first move into the Indianapolis market. Park Fletcher One and Two, two multi-level office buildings located in the Indianapolis International Airport corridor, total 161,937 square feet and are approximately 88 percent leased. Douglas Commercial Properties of Minneapolis acquired the property, and has retained CB Richard Ellis to manage and lease the buildings.