SHAKOPEE, MINN. — The Opus Group has broken ground on a 131,000-square-foot industrial build-to-suit for Cherne Industries in Shakopee, a southwestern suburb of the Twin Cities. Cherne, which produces pneumatic plugs, mechanical plugs, gauges and testing equipment, will use the building as its new headquarters and manufacturing facility. The project will feature a clear height of 32 feet, eight dock doors, three drive-in doors and 177 car parking stalls. The company’s 115-person workforce will have access to amenities such as a fitness center, locker room and prayer room. Opus is the developer, design-builder, interior designer, architect and engineer. Cabot Properties will own the building. Colliers International represented Opus, while AREA Commercial Real Estate Advisors represented Cherne. CBRE facilitated financing for the project. Completion is slated for early 2021.
BLOOMINGTON, MINN. — Avtex, a full-service customer experience consulting firm, has renewed its 26,000-square-foot office lease at Northland Center in Bloomington within metro Minneapolis. Northland Center is a two-building, 492,514-square-foot office property. Amenities include a fitness center, hair salon, farmer’s market, café, outdoor lounge area, laundry service, covered parking, bike storage and conference rooms. Bill Rothstein of Cushman & Wakefield provides leasing services for the property. KBS is the landlord. “There has been a lot of discussion as to whether or not companies will continue to lease space as a result of COVID-19 and the shift to remote working models,” says Rod Richerson, regional president with KBS. “This is not something we are seeing across our portfolio. In fact, we are continuing to see companies renew and sign new leases at several of our assets across our portfolio of more than 23 million square feet.”
MINNEAPOLIS — Stahl will build a four-story, 20,000-square-foot expansion to the Center for Performing Arts in South Minneapolis. Two additional performance spaces will be connected to an existing 15,000-square-foot building that was constructed in 1923. The expansion will provide studio space for expanded education programming, events and performance rental space. Construction is expected to begin this month and the completion is slated for early 2021. Stahl is working with Alliiance, a full-service architecture and design firm based in Minneapolis.
ROMEOVILLE, ILL. — Colliers International has brokered the sale of Interchange 55 Logistics Park in Romeoville for $98 million. Located near I-55, the two-building industrial development spans 1.3 million square feet. Completed in late 2019, the project was 30 percent occupied at the time of sale. Both buildings feature clear heights of 36 feet. Jeff Devine and Steve Disse of Colliers International represented the seller, Macquarie Real Estate. Prologis purchased the asset.
WHITESTOWN, IND. — Exeter Property Group has acquired Fishback 4, a 604,000-square-foot speculative industrial building within Fishback Creek Business Park in the northwest Indianapolis suburb of Whitestown. The purchase price was undisclosed. There are three other buildings within the industrial park. A planned second phase of development will provide an additional 1.5 million square feet of industrial space at the site. Terry Busch and Jared Scaringe of CBRE represented the seller, INDHLAND LLC.
NEW LENOX, ILL. — Premier Design + Build Group has completed construction of a two-story, 41,724-square-foot medical office building in New Lenox, about seven miles east of Joliet. HSA|Primecare was the developer. The ground floor of the property houses a Silver Cross urgent care facility as well as a primary care unit. Located at 1851 Silver Cross Blvd. across the street from Silver Cross Hospital’s Pavilion A & B, the new building is known as Pavilion D. The urgent care space features an X-ray room, laboratory, six exam rooms, offices and a waiting area. The second floor is designed for clinical and medical office use. The project team included Eppstein Uhen Architects, Ruettiger, Tonelli & Associates, Pierce Engineers and IMEP.
CENTRALIA, ILL. — Marcus & Millichap has arranged the sale of a 13,650-square-foot property occupied by Walgreens in Centralia, about 60 miles east of St. Louis. The sales price was undisclosed. The building is located at 225 N. Elm St. and features a pharmacy drive-thru window. Walgreens has operated at the property since 2003. Brian Parmacek and Victor Cornelio of Marcus & Millichap marketed the building on behalf of the seller and procured the buyer, One Family Property.
CADILLAC, MICH. — Woda Cooper Cos. Inc. has completed a $3.2 million rehabilitation of the 24-unit Maple Hill Apartments in Cadillac in northwest Michigan. The project scope included new kitchens, baths, flooring, windows, doors, plumbing, insulation, roofs, energy-efficient HVAC systems and landscaping. Woda Cooper received federal low-income housing tax credits allocated by the Michigan State Housing Development Authority as well as loans from Bellwether Enterprise to finance the rehabilitation. InSite Capital invested in the tax credits and Chemical Bank provided a construction loan.
OMAHA — Lanoha Real Estate Co. Inc. has been selected to develop The Row at Heartwood Preserve in Omaha. Applied Underwriters Inc. owns Heartwood Preserve, a 500-acre development largely dedicated to green space and trails, and is selling blocks of land to Lanoha for the new project. The Row will serve as a town center, encompassing residential, office, hospitality, retail and entertainment offerings. Upon completion, The Row will represent a $500 million investment. CBRE has been retained for brokerage and management services. Lanoha expects construction of the first eight-acre phase to begin next year, according to the Omaha World-Herald.
CHICAGO — Sterling Bay has unveiled plans to develop a 320,000-square-foot life sciences building within its Lincoln Yards mixed-use project in Chicago. Designed by Gensler, the facility will be situated along the North Branch of the Chicago River. The plans come on the heels of successful leasing activity at 2430 N. Halsted St., a redevelopment project that Sterling Bay undertook to create state-of-the-art lab space. The building is now more than 50 percent leased to Evozyne, Exicure Inc. and Vanqua Bio. Evozyne, a Chicago-based molecular engineering technology company, recently signed a 30,000-square-foot lease at the property. Evozyne’s space is scheduled for completion in early 2021. David Saad of CBRE represented Sterling Bay in the lease transaction with Evozyne.