Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Curabitur sed orci.
Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Curabitur sed orci. Sed ac pede viverra turpis feugiat consectetuer. Vivamus pharetra, ipsum et dapibus placerat, purus arcu commodo justo, vitae mollis elit magna in sem. Pellentesque lacinia aliquet tellus. Aliquam egestas magna non nibh. Suspendisse et risus. Sed dui massa, mollis a, malesuada quis, dignissim id, felis. Aenean vulputate pretium sapien. Aliquam lacinia. Integer sem. Aliquam tincidunt pulvinar dolor. Aenean tincidunt.
HOFFMAN ESTATES, ILL. — The Chicago office of Hendricks & Partners has completed the sale of Park Place, a 642-unit multifamily community located at 845-875 Pacific Ave. in Hoffman Estates, for $66 million. The community is situated on 64 acres and comprises 33 three-story buildings. Community amenities include a lap and leisure pool, a Jacuzzi, a sundeck, laundry facilities, a tennis court and a clubhouse. Ralph dePasquale and Bill Montana of Hendricks represented the seller, Barrington, Ill.-based Park Place Apartments LLC, as well as the buyer, Boston-based BVF II Park Place.
ST. LOUIS — St. Louis-based Walton Construction is advancing construction for three Wal-Mart Supercenter projects in Missouri and Illinois. The firm began construction of a 180,954-square-foot Wal-Mart, located in Harrisburg, Ill., in November 2007, and is expecting completion by August. The firm is also building a Wal-Mart Supercenter in Jacksonville, Ill., which is scheduled for completion in February. Finally, the firm is expanding an existing Wal-Mart located in Chesterfield, Mo., into a 190,617-square-foot Supercenter. The project began this past fall and is scheduled to be complete in October. Wichita, Kan.-based Law/Kingdom is providing design services for the Chesterfield and Harrisburg projects, while The Benham Group is designing the Jacksonville project.
EDWARDSVILLE, ILL. — Lee & Associates has brokered the sale of 540,000-square-foot industrial facility located at 2965 Lakeview Corporate Dr. in the St. Louis suburb of Edwardsville. The recently constructed building features 32-foot clear ceiling heights and an ESFR sprinkler system. Thomas Homco and David Zeigler of Lee’s St. Louis office represented the seller, Sacramento, Calif.-based Panattoni. Pro Venture Real Estate represented the buyer, Tennessee-based Ozburn-Hessey Logistics. The sales price was not disclosed.
KANSAS CITY, MO. — Chicago-based HSA Commercial Real Estate has acquired a 154,000-square-foot industrial facility located at 4101-4131 N. Kentucky Ave. in Kansas City. The building is leased to three tenants, including American Tire Distributors, Rent-A-Center and Ecolab. It features 28-foot clear ceiling heights, 50-foot by 44-foot column spacing and 24 loading docks. Mike Caprile and David Hinchman of CB Richard Ellis represented the seller, a private investment group. The acquisition price was undisclosed.
CEDAR RAPIDS, IOWA — Diamond V has announced plans to construction a $12 million yeast culture manufacturing facility, located at 3750 10th St. in Cedar Rapids. The 28,000-square-foot facility will be the company’s second yeast culture facility. The project is scheduled to begin in the summer, pending construction and environmental approvals. Completion is expected in 2009.
PEORIA, ILL. — Springfield, Mo.-based John Q. Hammons Hotels & Resorts has held the grand opening for the new Embassy Suites East Peoria, a 226-suite hotel and conference center located at the interchange of Interstate 74 and Riverfront Drive in Peoria. The hotel features more than 35,000 square feet of flexible meeting space, the Riverside Café restaurant and Caffeina’s coffee shop. John Q. Hammons will own and operate the hotel.
WARREN, MICH. — L. Mason Capitani/TCN Worldwide (LMC) has brokered the sale of a 100,000-square-foot industrial facility, located at 5775 Ten Mile Rd. in Warren, in a sale/leaseback transaction. AIC Ventures acquired the property from Paragon Technologies, which entered into a long-term lease of the facility. Thomas Jablonski of LMC represented both parties in the transaction. The acquisition price was undisclosed.
NORTH LIBERTY, IOWA — North Liberty-based Kinseth Hospitality Cos. and Omaha, Neb.-based The Weitz Company have begun construction of a 153-room Hilton Garden Inn located at the Horseshoe Casino on 23rd Avenue in North Liberty. The five-story hotel will feature approximately 5,000 square feet of banquet space, a ballroom, a boardroom, an indoor swimming pool, a whirlpool, a 24-hour fitness area and complimentary wireless Internet. The hotel will also contain two restaurants, The Great American Grill and The Pavilion Lounge. Completion is scheduled for the fall.