GLEN CARBON, ILL. — Strieker Law Firm LLC has signed a 1,582-square-foot office lease at 100 Magnolia Drive in Glen Carbon, about 14 miles northeast of St. Louis. Shiloh, Ill.-based brokerage Barber Murphy represented both the tenant and the landlord, SZO Properties LLC.
INDIANAPOLIS — Locally based developer Keystone Group and the Indy Eleven professional soccer club have announced plans to break ground this May on Eleven Park, a mixed-use development in Indianapolis. Anchored by a 20,000-seat multipurpose stadium that will host Indy Eleven’s home games, the project will transform the southwest quadrant of downtown Indianapolis. The Indianapolis Star reports the project has a price tag of $1 billion. In addition to the stadium, Eleven Park will feature 600 apartment units; 205,000 square feet of office space; nearly 200,000 square feet of shops and restaurants; a hotel; public plazas with green space housing a dog park, water features and kid’s play areas; and public parking garages. The co-developers also plan for the project to have an indoor, 4,000-seat music and entertainment venue, rooftop bars, walkways along the White River and direct access to The Cultural Trail, an urban trail spanning eight miles. “Eleven Park will not only change the skyline of Indianapolis, but will add over 1,000 jobs, have a huge economic impact, create quality-of-life benefits and attract talent and opportunities to our city and state,” says Ersal Ozdemir, chairman and founder of Keystone Group. Ozdemir also owns the Indy Eleven franchise. “Our …
MILWAUKEE — Crow Holdings has unveiled plans for the South Cargo Logistics Hub at Milwaukee Mitchell International Airport. The proposed, on-tarmac air cargo facility will total 288,000 square feet and feature 74 docks and 99 trailer stalls. Crow will develop the facility on behalf of the airport. David Prell and Scott Furmanski of CBRE will market the project for lease. The project, which is undergoing the approval process, is slated for completion in the second half of 2024. According to a news release, the proposed project would serve as an option for cargo tenants looking to avoid the much higher congestion and costs associated with centering operations out of the Chicago O’Hare International Airport. The project site was home to the 440th Air Reserve Base from the 1950s until July 2010 when it was formally deeded back to the county upon the closure of the base by the Department of Defense. The site has remained physically unchanged since then. The airport has been marketing the site to real estate developers for several years. Crow has led and financed all efforts to date and will continue to do so after the project progresses through permits and any potential remediation.
INDIANAPOLIS — Merchants Affordable Housing Corp. has rebranded as RDOOR Housing Corp. The affordable housing developer was founded in connection with Merchants Bank of Indiana in 1981. RDOOR comes from the word “ardor,” meaning passion. “RDOOR embodies our team’s unyielding passion for improving people’s lives by increasing access to quality rental housing opportunities while building or renovating affordable and safe homes,” says Bruce Baird, president and CEO. The current portfolio of RDOOR and its closely aligned affiliates includes more than 3,000 units throughout Marion County and Indiana. As part of the rebrand, RDOOR renovated the former Girls Inc. office at 441 W. Michigan St. as its new headquarters. RDOOR says the downtown Indianapolis location will enable the team to be closer to its clients and co-locate with Partners in Housing.
ELK GROVE VILLAGE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a 94,262-square-foot industrial building in the Chicago suburb of Elk Grove Village. The acquisition was structured as a sale-leaseback. The sales price was undisclosed. Located at 2121 Landmeier Road and constructed in 1966, the building features a clear height of 18 feet, six exterior docks, four interior docks, two drive-in doors and parking for more than 100 cars and 10 trailers. Phil Reiff of JLL represented the undisclosed seller. VK Industrial VI LP is a partnership between Venture One and Kovitz Investment Group.
CHICAGO — Dimension Inx, a biomaterials platform company that develops therapeutic products to restore tissue and organ function, has signed a 6,410-square-foot life sciences lease at Fulton Labs in Chicago. Owned by Trammell Crow Co. (TCC) and located in the city’s Fulton Market district, the campus spans two buildings and 725,000 square feet. Dimension Inx will occupy a science-ready lab suite at 1375 W. Fulton. The company currently operates out of two locations, one being at Illinois Tech’s University Technology Park and the other at Portal Innovations, which is part of Fulton Labs. Dimension Inx will move into its new headquarters space in March and will still maintain its presence at Portal Innovations. TCC’s science-ready lab suites are private labs available for immediate occupancy that range in size from 3,000 to 7,000 square feet. Tenants have access to building technology and amenities, including a shared lab equipment room, as well as flexible lease terms. Jonathan Metzl and Jack Keenan of Cushman & Wakefield represented Dimension Inx. CBRE handles the leasing and marketing for Fulton Labs.
WAUSEON, OHIO — Franklin Street has arranged the sale of a 100-unit self-storage facility in Wauseon, about 30 miles west of Toledo. The sales price was undisclosed. Built in phases between 1989 and 1994, the value-add property features 10 parking spaces and newly installed security cameras. The transaction includes 0.3 acres of developable land for potential expansion. David Perlleshi and Frank DeSalvo of Franklin Street represented the seller, HZ Capital Partners LLC. Missouri-based On Track Storage, which currently operates facilities in Missouri and Kansas, was the buyer.
GREENFIELD, WIS. — Cobalt Partners has broken ground on Loomis Crossing, a new mixed-use development located at the Loomis Road interchange along I-894 in Greenfield, a southwest suburb of Milwaukee. Comprising more than 38 acres, the project will feature medical office, retail, luxury apartment units, a business park and The TURF Skatepark. Construction is underway on the 267-unit apartment component as well as a 40,288-square-foot medical office building. Cobalt is partnering with Milwaukee-based healthcare developer Hammes on the medical office component. Some physician groups, including Eye Physician Associates SC, have signed leases for the building, which is slated for completion later this year. Rinka is the architect and CG Schmidt is the construction manager. The Boerke Co. is handling leasing and marketing.
GENEVA, ILL. — Lifespace Communities has acquired GreenFields of Geneva, a nonprofit, 257-unit continuing care retirement community (CCRC) in Geneva, approximately 40 miles west of downtown Chicago. Friendship Senior Options (FSO) sold the property for an undisclosed price. FSO will continue to provide management services through June, at which time the community will fully transition onto Lifespace management, systems and support. The sale brings Lifespace’s total portfolio to 18 communities, including three in metro Chicago. Located on 26 acres bordering two championship golf courses, GreenFields includes walking paths, a fishing pond and a 3.5-acre native prairie. More than 200 residents call the community home. GreenFields opened its doors in 2012.
NOVI, MICH. — The Dancing Pine Korean Steakhouse has signed a lease to join the tenant lineup at Sakura Novi, an Asian-themed mixed-use development in Novi. Sakura Novi will feature a collection of Asian-themed restaurants, high-end retail shops, 117 townhome apartments as well as a Japanese-themed garden path, pond and public plaza. The Dancing Pine is a steakhouse brought to market by Seven York Inc., the owner behind many restaurants across metro Detroit such as Kimchi Box, Dae Jang Keum, Tomo Sushi, The Seoul, Blue Fish Asian Cuisine and Mama Satto. Cindy Ciura of CC Consulting assisted in bringing The Dancing Pine to the development. Sakura Novi LLC, an affiliate of Robert B. Aikens & Associates LLC, specializes in culturally themed real estate development, the creation of restaurant collections and mixed-use real estate development. Sakura Novi LLC has executed a joint venture agreement with Robertson Brothers Homes to construct the project’s rental townhome community. The units will feature private entrances, one- and two-car attached garages, first-floor offices and two- or three-bedroom layouts. The demolition of the buildings on the project site took place last fall. Prior to then, the project had been caught up in the pre-development process for multiple …