Midwest

JLL Brokers $23.5M Sale-Leaseback of Office Campus in Suburban Minneapolis

by Kristin Harlow February 25, 2022

EDEN PRAIRIE, MINN. — JLL Capital Markets has brokered the $23.5 million sale-leaseback of 11000 Viking Drive, a two-building office campus totaling 258,850 square feet in the Minneapolis suburb of Eden Prairie. Colin Ryan, David Berglund and Pat Williams of JLL represented the seller, photography company Shutterfly LLC, and the buyer, Tempus Real Estate Partners. Shutterfly will continue to occupy the east building, which rises five stories and was built in 2004. The City of Eden Prairie plans to tear down the vacant west building, which rises four stories and was constructed in 1997. The space will be utilized for native grasses, wildflowers and a paved trail.

February 25, 2022

Development Healthcare Midwest Wisconsin

Kraus-Anderson Set to Break Ground on New Hospital in Whitehall, Wisconsin

by Kristin Harlow February 25, 2022

WHITEHALL, WIS. — Kraus-Anderson will begin construction in March on Gundersen Tri-County Hospital, a new hospital for Gundersen Health System in Whitehall, a city in western Wisconsin. The new facility will replace the current 60-year-old hospital, which serves Whitehall, Blair, Independence and surrounding communities. Completion is slated for fall 2023. Designed by Groth Design Group, the two-story property will span 69,000 square feet and will feature private patient rooms, a trauma center and helipad landing zone. The hospital will offer an ER, imaging, lab, pharmacy, surgical, dietary, rehabilitation and transitional care. A new ambulance and maintenance building will also be constructed on the site.

February 25, 2022

Illinois Industrial Leasing Activity Lee & Associates Midwest

Lee & Associates Negotiates Two Industrial Leases Totaling 48,070 SF in Suburban Chicago

by Kristin Harlow February 25, 2022

ELK GROVE VILLAGE, ILL. — Lee & Associates has negotiated two industrial leases totaling 48,070 square feet in Elk Grove Village. In the first transaction, Arrow Trans Corp. inked a 42,070-square-foot lease at 2001 Estes Ave. Brad Simousek and Michael Plumb of Lee represented the tenant, while John D’Orazio and Jonathan Kohn of Colliers represented the owner, Link Logistics Real Estate. In the second transaction, Simousek represented Crown Roll Leaf in its lease of 6,000 square feet at 689 Chase Ave. Dustin Albers, Andrew Maletich and Matt Garland of Cawley Chicago represented the undisclosed owner.

February 25, 2022

Illinois Leasing Activity Midwest Retail

Burlington to Open 27,726 SF Store at Stratford Crossing in Bloomingdale, Illinois

by Kristin Harlow February 25, 2022

BLOOMINGDALE, ILL. — Burlington has signed a lease to open a 27,726-square-foot store at Stratford Crossing in Bloomingdale, a western suburb of Chicago. Burlington will be the ninth anchor tenant to join the 385,000-square-foot shopping center, which is home to T.J. Maxx, HomeGoods, Mariano’s, PetSmart, Hobby Lobby and Planet Fitness. Joe Parrott, Sean McCourt and Riley McCarron of CBRE represented ownership, an affiliate of Newmark Merrill Cos. Burlington is scheduled to open later this year.

February 25, 2022

Acquisitions Industrial Midwest Ohio Self-Storage

Marcus & Millichap Arranges Sale of 102-Unit Self-Storage Facility in Zanesville, Ohio

by Kristin Harlow February 25, 2022

ZANESVILLE, OHIO — Marcus & Millichap has arranged the sale of Premier Storage of Zanesville for an undisclosed price. The self-storage facility consists of 102 non-climate-controlled units totaling 14,400 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller. Zanesville is located about 50 miles east of Columbus. Buyer and seller information was not provided.

February 25, 2022

Development Healthcare Illinois Midwest Office

Hearn to Convert Portion of Iconic Chicago Office Tower into Medical Space

by Kristin Harlow February 24, 2022

CHICAGO — The Hearn Co. has unveiled plans to convert four floors of 875 North Michigan Avenue in Chicago into clinical and surgical space named the Mag Mile Medical Pavilion. Hearn has selected Cushman & Wakefield to lease the building-within-a-building concept. Hearn plans to invest more than $10 million into converting floors 28 through 30 and 33, totaling 130,000 square feet, into medical office space. There will be a dedicated valet entrance, patient drop-off and pickup on the north side and a dedicated elevator bank. Completion is slated for the second quarter of this year. The 100-story property was formerly known as the John Hancock Center. Karoline Eigel, Matt Sullivan, Lindsey Groom and Jack Seher of Cushman & Wakefield make up the leasing team.

February 24, 2022

Healthcare Indiana Loans Midwest

BMO Harris Bank Provides $18.2M Acquisition Loan for Medical Office Building in Fort Wayne

by Kristin Harlow February 24, 2022

FORT WAYNE, IND. — BMO Harris Bank’s healthcare real estate finance group has provided an $18.2 million loan for the acquisition of a 58,000-square-foot medical office building in Fort Wayne. The property is fully leased. Lutheran Health Network, an affiliate of Community Health Systems, is the anchor tenant. Caddis was the borrower. Loan terms were not released.

February 24, 2022

Development Midwest Missouri

Keystone Construction Begins Work on 97,000 SF Sports Complex in Chesterfield, Missouri

by Kristin Harlow February 24, 2022

CHESTERFIELD, MO. — Keystone Construction Co. has begun work on a 97,000-square-foot indoor volleyball and basketball complex in Chesterfield near St. Louis. Mia Rose Holdings is the developer, MW Weber Architects is the architect and Stock & Associates Consulting Engineers Inc. is the civil engineer. Completion is slated for early 2023. Chesterfield Sports Association (CSA), a nonprofit organization, will own and operate the facility. Nine basketball courts will convert to 18 volleyball courts. Additional features will include a fitness area, spectator seating, lounge areas and multipurpose rooms. CSA plans to host over 40 tournaments each year that will attract out-of-town guests and generate economic activity for local restaurants and hotels.

February 24, 2022

Development Michigan Midwest Office

HED Completes Design of New Office for Warner Law Firm in Detroit

by Kristin Harlow February 24, 2022

DETROIT — National design firm HED has completed the design of the new Detroit office for Warner Norcross + Judd law firm. The tenant occupies the third floor of 2715 Woodward, a Class A building. The law firm’s office features open workspaces as well as 50 private offices as well as a law library, media room, kitchen and reception area. Warner maintains eight other offices throughout Michigan.

February 24, 2022

Acquisitions Michigan Midwest Restaurant Retail

Dunkin’ Sells 1,809 SF Restaurant Building in Southgate, Michigan

by Kristin Harlow February 24, 2022

SOUTHGATE, MICH. — Dunkin’ has sold its former restaurant building on Eureka Road in Southgate, about 14 miles southwest of Detroit. The retailer is relocating from the 1,809-square-foot building to a different building down the street that features a drive-thru. Michael Murphy, Vicki Gutowski and Tjader Gerdom of Gerdom Realty & Investment worked with Excess Space Retail Services to represent Dunkin’ in the sale. Jordan Jabbori of CMP Real Estate Group represented the buyer, a local restaurant owner that plans to open a new restaurant in the space.

February 24, 2022

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