VINCENNES, IND. — Sperry Van Ness has arranged the sale of St. Clair Place Apartments, a 53-unit student housing community located near Vincennes University at 201 St. Clair Street in Vincennes. The property features five buildings, comprising 47 two-bedroom units and six five-bedroom units with monthly rents ranging from $750 to $1,875. Randall Forster of the Evansville, Ind., office of Sperry Van Ness represented the seller, Evansville-based St. Clair Place LLC. The property was acquired by New York City-based Titan for an undisclosed price.
Midwest
CHICAGO — Cushman & Wakefield has brokered the sale of a 660,000-square-foot industrial portfolio of Chicagoland properties for $46 million. The portfolio consists of 10 properties: four are located in Bensenville, three are located in Buffalo Grove, two are located in Wood Dale, and on is located in Elmhurst. The portfolio is 92 percent leased. Ken Szady, Jim Carpenter and Joe Voet of Cushman & Wakefield’s Chicago office marketed and disposed of the property on behalf of the undisclosed seller. The portfolio was acquired by TA Realty Associates.
CHICAGO — Cook Financial has acquired the former RC Cola Bottling Plant, located at 2801 W. 47th St. and California Avenue in the Brighton Park neighborhood of Chicago, for redevelopment. The property comprises three buildings totaling 364,000 square feet and is situated on 13.6 acres. The main building, which totals 327,000 square feet, will be redeveloped for industrial users ranging from 25,000 to 150,000 square feet. The two smaller buildings, which total 20,000 and 17,000 square feet, will accommodate a variety of uses. The vacant land and outlot parcels on the property will be developed as potential build-to-suits or mixed-use space. The acquisition price, as well as the seller, was undisclosed.
INDIANAPOLIS — Indianapolis-based NAI Olympia Partners has arranged the sale of a 178,820-square-foot distribution center located at 4333 W. 71st St. in Indianapolis. Chris Ayers of NAI represented the seller, China Lodge; the property was acquired by Century Properties XV LP for an undisclosed amount.
NAPERVILLE, ILL. — The Staubach Company has represented Hallmark Services Corp. in the long-term leasing of 256,766 square feet within Naperville Woods Office Center at 1000-1100 E. Warrenville Rd. in Naperville. Hallmark will utilize the space as its headquarters and for call center operations. It expects to occupy the new space by the end of the year, vacating approximately 150,000 square feet of office space in Aurora, Ill. Andrea Van Gelder Diana Rieske, Michael Sessa and Jock Howland of Staubach represented Hallmark in the transaction. Brian Whiting of JF McKinney & Associates represented the landlord, M&J Wilkow.
MADISON, OHIO — The Cooper Commercial Investment Group of Cleveland-based NAI Daus has completed the sale of Madison Square Shopping Center, a 124,167-square-foot retail property located on North Ridge Road in Madison, for $5.75 million. The center is fully occupied and is anchored by freestanding Marc’s and Kmart locations. The property also includes two outlot parcels fronting North Ridge Road. Dan Cooper and Bob Havasi of NAI represented the seller, North Madison Properties. The buyer was undisclosed.
NORTHBROOK, ILL. — 1000 Sunset LLC, a joint venture between Chicago-based companies ICE Realty Group and ABC Real Estate Investment, has acquired an office/warehouse property located at 1000 Sunset Ridge Rd. in Skokie with the intent to redevelop it into a senior living facility. The 7.2-acre parcel presently contains three buildings totaling 233,000 square feet, which will be completely demolished for the redevelopment. The joint venture has also entered into an agreement with Chicago-based Senior Lifestyle Corp. to develop and operate the $50 million project. Plans call for 180 units, consisting of a five-story structure that will house 136 independent living units, as well as a four-story structure that will house 32 assisted living units and 12 memory care units. The two buildings will be connected by a shared first floor that will contain a centralized dining facility and common areas. The facility will also contain below-grade parking. The project is scheduled to break ground later this year or in early 2009, with completion slated for 2010. Mitch Loveman of Colliers Bennett & Kahnweiler represented 1000 Sunset LLC in the property acquisition; Sam Badger of Paine/Wetzel represented the seller, a partnership involving Gold Realty. Steve Levitas and Bob Chodos, also …
WESTFIELD, IND. — Colliers Turley Martin Tucker (CTMT) has brokered the sale of a two-building, 298,961-square-foot office property located at 19845 U.S. Highway 31 in Westfield. The property is fully leased to Verizon Communications, which operates the facility as a regional call center. Rebecca Wells and Michael Semler of CTMT’s Indianapolis office represented the seller, MetLife. The property was acquired by ORIX Real Estate Capital for an undisclosed price
DAYTON, OHIO — Triple Net Properties has acquired Washington Park Office Center, a two-building office complex located in Dayton, on behalf of tenant-in-common investors. The property consists of two three-story, Class A buildings totaling approximately 154,000 square feet, as well as a shared 714-space surface parking lot. The buildings each feature a three-story atrium, interior foliage and swipe card access systems, and are 92 percent occupied. Triple Net acquired the property from TAMME Investments and Washington Park I LLC, which were represented by Mike Wenzler of The Wenzler Group. The acquisition price was not disclosed.
UNION, MO. — St. Louis-based Paric Corp. has broken ground for the construction of a $15.4 million building for East Central College located at 1964 Prairie Dell Rd. in Union. The three-story, 51,800-square-foot facility will house the college’s nursing, health and science departments. It will include several laboratories, lecture halls, classrooms, computer labs and offices. The lawn north of the building will also form a natural courtyard for the area. The project is scheduled for completion in December. Paric is serving as construction manager, with architecture firm Hastings + Chivetta providing design services.