SOUTH ELGIN, ILL. — Krusinski Construction Co. will transform a 14,446-square-foot vacant space on the first floor of the Medical and Legal Arts Building in South Elgin into a daycare center for BrightPath Kids, which operates more than 230 centers across the U.S. and Canada. The interior scope includes partial demolition and full reconstruction of the first floor. The new space will feature activity rooms and learning areas equipped with advanced classroom technology. Mechanical, electrical, plumbing and fire protection systems will be enhanced to meet the client’s needs. Exterior upgrades will include parking lot improvements and the addition of a new playground on the east side of the building. Krusinski originally completed the ground-up, two-story building in 2007. The facility previously housed an immediate care clinic for Advocate Aurora Health Sherman Family Healthcare on the first floor, with law offices and conference rooms on the second. The project team includes Colliers Engineering & Design as architect and civil engineer.
Midwest
WISCONSIN RAPIDS, WIS. — Marcus & Millichap has arranged the $2.9 million sale of a two-building, six-suite retail center in Wisconsin Rapids in central Wisconsin. Built in 2007, the fully leased property is located on 1.6 acres and is anchored by Maurices and Mattress Firm. Jeff Rowlett of Marcus & Millichap represented the seller, Elm Holdings 1 LLC. Jesse Schluter of Wisconsin Commercial Real Estate procured the buyer, a Wisconsin-based private investor.
ALTOONA, IOWA — Burger Shop has opened at the Outlets of Des Moines in Altoona. The restaurant offers a variety of burgers, sandwiches, salads, wraps and fries. Developed by New England Development, Outlets of Des Moines is an open-air lifestyle center that is home to brands such as Ann Taylor Factory Store, Coach Outlet, Gap Factory Store, Polo Ralph Lauren, Nike Factory Store and Michael Kors Outlet.
ST. LOUIS — MAP Property Holdings has unveiled plans for the renovation of key common areas as part of a reintroduction to the market of One US Bank Plaza, a 36-story, 658,000-square-foot office building in downtown St. Louis. Renovations will begin this spring, with Greiner Construction as general contractor and Trivers as architect. Plans call for updated finishes throughout the common areas on the first and second floor, an in-building lunchtime food operator, two outdoor patio options, varied third workspace options, an enhanced security focus and a refresh of outdoor plaza areas. MAP’s $8.7 million investment stimulated more than 210,000 square feet of lease renewals. Additionally, US Bank recently relocated 300 employees from another location to the downtown office tower. Minneapolis-based MAP acquired the building in 2021. Cushman & Wakefield provides leasing and property management services at US Bank Tower, with Danielle Grubbs and Jim Mosby leading leasing efforts.
OCONOMOWOC, WIS. — Restaurants Chipotle and First Watch have signed leases to open at the Olympia Fields mixed-use development in Oconomowoc, about 35 miles west of Milwaukee. Chipotle’s space totals 2,350 square feet, while First Watch will occupy 3,850 square feet. Mike Fitzgerald and Andrew Prater of Mid-America Real Estate represented the landlord, Corta Oconomowoc LLC. Adam Dreier of Mid-America Real Estate represented Chipotle.
MONROE, MICH. — Bernard Financial Group (BFG) has arranged a $2.2 million loan for the refinancing of a 13,541-square-foot retail property in Monroe, about 23 miles north of Toledo, Ohio. Joshua Bernard of BFG arranged the loan through a life insurance company. An entity doing business as BSLM Frenchtown LLC was the borrower.
CHICAGO — Kiser Group has brokered the $1.6 million sale of a six-unit multifamily building in Chicago’s Lincoln Square neighborhood. The value-add property, constructed in 1928, has been owned by the same family for over four decades. Each unit offers approximately 1,400 square feet of living space with three bedrooms. The property also includes five garage parking spaces. Katie LeGrand and Jacob Price of Kiser brokered the transaction.
EAST DUNDEE, ILL. — Powerhouse Sales, a distributor of detergents, single-dose pods and other household cleaning products, has leased a 10,000-square-foot industrial unit for its new headquarters at 175 Prairie Lake Road in East Dundee, a northwest suburb of Chicago. The facility is now fully leased. Powerhouse’s space features one dock, one drive-in door and a high-end office build-out. Elisabeth Lazzara, Mike DeSerto and Cory Kay of Entre Commercial Realty brokered the lease.
Roche to Invest $50B for U.S. Expansion, Including New Pharmaceutical Manufacturing Facilities
by John Nelson
INDIANAPOLIS — Roche, a Swiss biotechnology company whose U.S. headquarters is in Indianapolis, has announced its intention to invest $50 billion in the United States over the next five years. The investment will include new and expanded life sciences facilities across the country, as well as a new 900,000-square-foot manufacturing facility, the location of which will be announced soon. This project will be a manufacturing facility for Roche’s portfolio of next-generation weight loss medicines. The other new developments will include a gene therapy manufacturing facility in Pennsylvania, a new plant in Indiana for continuous glucose monitoring and a new research-and-development (R&D) center in Massachusetts. Roche will also expand and upgrade its existing pharmaceutical manufacturing facilities in Kentucky, Indiana, New Jersey, Oregon and Pennsylvania as part of the investment, as well as expand R&D centers in Arizona, California and Indiana. Roche’s investment is expected to create more than 12,000 new jobs, including nearly 6,500 construction jobs and 1,000 permanent jobs at the new and expanded facilities. The construction timeline for these projects was not announced. Once Roche’s new and expanded facilities come on line, the firm says it will be able to export more medicines from the United States than it …
INDEPENDENCE, MO. — Gantry has secured a $10 million loan for the refinancing of Hillside Apartments in the Kansas City suburb of Independence. The garden-style, three-story property features 108 multifamily units across 14 buildings at 111 Hillside Drive. The fully stabilized asset underwent a complex-wide renovation. Mark Reichter and Alec Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. Fannie Mae provided the seven-year, fixed-rate loan, which features an interest-only introductory period followed by a 30-year amortization.