BROOKLYN, OHIO — Grubb & Ellis has negotiated the sale of Ridgepark Medical Center, a 70,000-square-foot, Class A medical office building located at 7575 Northcliff in Brooklyn, for $2 million. Terry Coyne of Grubb & Ellis represented the seller, Deaconess Community Foundation. The property was acquired by Mall Properties, which plans to reposition it.
Midwest
COLUMBUS, OHIO — Columbus-based Sperry Van Ness/Horizons (SVN) has arranged the sale of Easton Ridge Apartments, a 50-unit apartment community located at 3830 Hampton Woods Dr. in Columbus, for $1.8 million. The property contains seven buildings, which house 15 studio units, 31 one-bedroom units and four two-bedroom units. Monthly rents range from $405 to $605. Doug Wilson and Rob Gillie of SVN represented the buyer, West Bloomfield, Mich.-based Easton Ridge LLC, as well as the seller, Ashland, Ohio-based Aspen Management.
WOODBURY, MINN. — The Minneapolis office of CB Richard Ellis | Melody (CBRE) has secured $11 million in permanent financing for Seasons Villas, a 214-unit rental townhome community located at 8630 Summer Wind Alcove in Woodbury. Individual units average 1,116 square feet, and include great rooms, fireplaces, vaulted ceilings and European kitchens. Douglas Seylar and Murray Kornberg of CBRE arranged the loan on behalf of Seasons Villas of Woodbury LLC. Financing was provided by 40|86 Mortgage Capital.
ROMEOVILLE, ILL. — Heitman America Real Estate Trust, a fund managed by Chicago-based Heitman, has acquired a 1.9 million-square-foot industrial portfolio located in Romeoville. The portfolio consists of four warehouse buildings located in the Windham Southwest Business Park. Each of the buildings was developed by Panattoni Development Co. between 2006 and 2008. Two of the four buildings are fully occupied by Sears Holdings, Kimberly-Clark and Dann Dee Display Features. The other two buildings, which were completed this month, currently have 261,000 and 137,000 square feet, respectively, available for lease. Heitman acquired the portfolio from a partnership involving Panattoni; the acquisition price was undisclosed.
DETROIT — Hendricks & Partners has arranged the sale of Lafayette Towers, 584-unit apartment community located at 1301-1321 Orleans St. in Detroit, for $16 million. The property comprises two 22-story towers and a two-level parking deck situated on 9 acres within Lafayette Park. The property features amenities such as a 24-hour attended gate, a fitness center, laundry facilities, storage facilities and a heated, outdoor swimming pool with a sundeck. It was 95 percent occupied at the time of closing. Mark Rohr and Eric Taylor of Hendricks’ Detroit office represented the buyer, New York-based The Northern Group, as well as the seller, Chicago-based Lafayette Towers LP.
OAK LAWN, ILL. — Leopardo Construction has completed the $30 million expansion of Advocate Christ Medical Center, located at 4440 W. 95th St. in Oak Lawn. The expansion added 90,000 square feet to the hospital, and included the addition of five operating rooms to the hospital’s existing surgical department; the addition of 20 new patient rooms to the Adult Surgical heart Unit; and a 245-seat clinical education auditorium and conference center. Other additions include a new testing laboratory, a central sterile department, a physician’s lounge, and a multi-phase renovation to the hospital’s neonatal and prenatal intensive care units. Leopardo served as general contractor for the project, with HDR providing design services.
PONTIAC, MICH. — Sperry Van Ness (SVN) has completed the sale of Ottawa Tower, a vacant, nine-story office building located at 51111 Woodward Ave. in Pontiac, for $1.35 million. The 250,000-square-foot building is situated on 1.77 acres, and features fiber optics, a fitness center, adjacent garage parking, full loading dock facilities, high-speed elevators, and individual heating and cooling zones. The building was formerly occupied by General Motors, and has been vacant for the past 5 years. Robert Pliska of the Birmingham, Mich., office of SVN, along with Michael Dudash of Troy, Mich.-based Hayman Cos. represented the seller, Grand Rapids, Mich.-based Ottawa Tower Ventures. Harry Altick of SVN’s Greenbrae, Calif., office represented the buyer, a private San Francisco-based investor. The new owner is planning minor improvements to the property to position it as a turnkey lease opportunity for a prospective tenant.
LOMBARD AND CHICAGO, ILL. — The Mixed-Use|Residential Group of Palos Hills, Ill.-based Skender Construction has broken ground for two Chicagoland projects. In Lombard, the firm has begun construction for Sunrise of Lombard, a senior living facility comprising two four-story facilities totaling more than 165,000 square feet. The campus will contain 140 assisted and independent living units, as well as a commercial kitchen and below-grade parking that will connect the two buildings. The project, which is being developed by Sunrise Senior Living, is scheduled for completion in March 2009. BeeryRio is providing design services. In Chicago’s Lincoln Park neighborhood, Skender is building an approximately 48,500-square-foot mixed-use development, comprising first-floor retail space, 18 luxury condominium units and underground parking. The project, which is expected to receive LEED certification, broke ground in December, and is expected to be complete in the fall. It is being developed by Terra Firma Co., with Worn Jerabek Architects serving as project architect.
DES PLAINES, ILL. — Skokie, Ill.-based The Missner Group has been selected as design/builder for a 60,000-square-foot, build-to-suit medical office for the Illinois Bone & Joint Institute (IBJI). The three-story facility, which will be located at 900 E. Rand Rd. in Des Plaines, is scheduled for a September completion. IBJI will occupy approximately 20,000 square feet of the building, and will lease the remaining space to other tenants. Stephen Rankin Associates is serving as project architect. Larry Debb and John Kosich of GVA Williams are co-developing the project and serving as the owners’ representatives.
MERRILLVILLE, IND. — Matanky Realty Group has arranged the acquisition of Broadway Place, a 127,010-square-foot community shopping center located at 61st and Broadway in Merrillville. Bruce Harris of Marcus & Millichap represented the seller, with Matanky representing the buyer. Both parties were undisclosed. The acquisition price also was not disclosed, but the property was listed for $4.1 million.