PLEASANT PRAIRIE, WIS. — Associated Bank has provided a $33.1 million loan for the construction of a 590,525-square-foot industrial building within Stateline 94 Business Park in Pleasant Prairie. Fresenius Kabi, a healthcare company specializing in lifesaving medicines and technologies, will occupy the building upon completion in July 2020. The borrower and developer, Bluepoint 94 LLC, is a joint venture between Venture One Real Estate and CRG. Clayco will serve as general contractor. Elizabeth Hozian of Associated Bank handled the loan arrangements and closing.
HILLIARD, OHIO — Broder & Sachse Real Estate has acquired The Shoppes at Haydens Crossing in Hilliard, a suburb of Columbus. The purchase price was undisclosed. Located at 6700 Hayden Run Blvd., the 70,366-square-foot shopping center is anchored by Giant Eagle. Other tenants include Get Go Café + Market, Marco’s Pizza, Great Clips, Hayden Run Dentistry and Free to Be Me Salon. There is one retail space currently available for lease. Ben Wineman and Amy Holter of Mid-America Real Estate Corp. represented the seller, Echo Realty.
OAK BROOK, ILL. — Cawley Chicago has arranged the sale of a 57,832-square-foot office building in Oak Brook for $5.7 million. The three-story property is located at 2021 Midwest Road. Ryan Freed and Rawly Lantz of Cawley represented the seller, Chesapeake Associates Limited. Dan McKay of McKay Investments represented the buyer, BBI Property Management Inc., which will occupy a portion of the building.
CHICAGO — A partnership between Riverside Investment & Development and Convexity Properties has broken ground on BMO Tower, also known as Union Station Tower. The 50-story office building is part of the Union Station redevelopment project in Chicago. Global architecture firm Goettsch Partners (GP) designed the property, which will be situated on 2.2 acres directly south of the Union Station headhouse building. The office tower will feature 1.4 million square feet of office space. The tower and new public space are part of the larger redevelopment of Chicago Union Station, which originally opened in 1925. Riverside and Complexity unveiled plans for the $1 billion project in September 2018, beginning with the demolition of a 404-unit apartment building and the design of a 1.5-acre plaza and park. “This project will activate a prime site that has been largely underutilized next to Chicago’s busiest commuter station,” says James Goettsch, chairman and co-CEO at GP. “The office tower and park will bring vibrant, complementary additions to the city.” As the name indicates, Montreal-based BMO Financial Group will be the building’s anchor tenant. Construction is scheduled for completion in 2022. Although development costs were not disclosed, the Chicago Tribune reports that the developers received $476 million …
FENTON, MO. — JLL has arranged the sale of Gravois Place in Fenton, about 20 miles southwest of downtown St. Louis, for an undisclosed price. The 86,931-square-foot retail center is fully leased and anchored by Gold’s Gym. Situated at 635 Gravois Road, the property is also home to SkyZone Trampoline Park and St. Vincent DePaul. Aaron Johnson, Chris Murphy, Ross Crawford and Danny Kaufman of JLL marketed the property on behalf of the seller, RBR Real Estate Holdings LLC. Mark Sher of KW Commercial represented the undisclosed buyer.
GREENFIELD, IND. — Colliers International has brokered the sale-leaseback of Mount Comfort Building 115 in Greenfield, about 25 miles east of Indianapolis, for an undisclosed price. The 200,000-square-foot modern bulk facility will be expanded to 386,000 square feet. The building’s occupant, Brybelly Holdings Inc., will lease back the property after its expansion on a new 10-year lease. Originally developed in 2016, the building sits on 26 acres within Alliance Interstate Park. Alex Cantu, Brian Zurawski and Alex Davenport of Colliers represented Brybelly in the sale. Exeter Properties purchased the asset. Brybelly specializes in dropship services, which is a direct to consumer business model.
MINNEAPOLIS — Upland Real Estate Group Inc. has negotiated the sale of the Rockler Fur building in downtown Minneapolis for an undisclosed price. The buyer, Beacon Interfaith Housing Collaborative, plans to convert the property into 48 units of affordable housing. The seven-story, 38,305-square-foot building was originally built as a Printer’s Exchange building in 1915 with a Gothic Revival style. Rockler Fur has occupied the property since the 1940s. Upland will also represent Rockler in its relocation process in spring 2020.
GURNEE, ILL. — Luxor Workspaces has expanded its warehouse operations to a newly built, 190,000-square-foot warehouse along I-94 in Gurnee. The move, which took place prior to the Thanksgiving holiday, was expected to create eight new jobs and enhance Luxor’s level of service to its Midwest customers. CenterPoint Properties developed the warehouse and Morgan/Harbour Construction served as general contractor. Sam Badger of CBRE represented Luxor in the search for the new property. Vivek Singla of CBRE served as Luxor’s tenant improvement project manager during the final buildout. Features of the distribution center include a clear height of 36 feet, 22 docks and a 7,000-square-foot office space with a conference room and break room. Waukegan, Ill.-based Luxor is a designer and manufacturer of workspace products.
TOPEKA, KAN. — Darland Construction Co. has completed the conversion of a former Kmart store in Topeka into Wanamaker Hills Shopping Center. The 108,546-square-foot retail property is now home to Ulta, Old Navy, DSW, Five Below and Petco. Equity Investment Group, an Indiana-based developer, bought the property in 2014. Schwerdt Design Group was the project architect.
MINNEAPOLIS — Owners DRA Advisors and Wildamere Capital Management plan to renovate and rename the office towers located at 900 and 920 S. Second Ave. in downtown Minneapolis. Previously known as Oracle and International Centre, the new name for the 622,173-square-foot property will be Forum. Plans call for an overhaul of the multi-story atrium and construction of a new skyway lounge with conference facilities and spec suites. Construction is expected to begin before the end of the year and be completed in 2020. Katie Tufford, Peter Fitzgerald, Tom Tracy and Courtney Rosoff of Cushman & Wakefield are the leasing agents. DRA Advisors and Wildamere purchased the towers in March.