CHICAGO — Prime Group Realty Trust has secured a $200 million loan for the refinancing of 330 Wabash Ave. in Chicago. Prime Group owns the 52-story office tower in a joint venture with Five Mile Capital Partners. The loan includes a $111.9 million advance that will repay an existing mortgage on the property and $88.1 million that will fund tenant and capital improvements at the building. Landesbank Hessen-Thuringen Girozentrale and New York Life Insurance Co. provided the loan. 330 Wabash Ave. is 88 percent leased and recent leases at the property include American Medical Association and Latham & Watkins LLP.
LIBERTY, MO. — LMV Automotive Systems has signed a lease for a 212,500-square-foot build-to-suit manufacturing facility on 45 acres in Liberty. LMV supplies welded body an structural components to the automotive industry. Becknell Industries is developing the facility and expects to complete construction in the first quarter of 2013. The single-story building will feature heavy power, 32-foot clear ceiling heights and 12,000 square feet of office space. The property is located at 3251 Heartland Drive. Olen Monsees and Jack Allen of Karbank Real Estate Co. LLP/CORFAC International represented LMV in the transaction.
GLEN ELLYN, ILL. — Summit Design + Build has completed a 7,500-square-foot office renovation for Career Vision at 526 N. Main St. in Glen Ellyn. The career consulting company is using the space for its new corporate office and career counseling center. Upgrades include new flooring, windows and millwork. Ware Malcomb provided architectural services for the project.
NEW YORK CITY — Howard Hughes Corp. has revealed a new plan to redevelop Pier 17 at its South Street Seaport property in Manhattan. The plan calls for replacing the current mall with a modern glass-enclosed, three-story structure complete with stores and restaurants. The center will include an open rooftop space to be used for concerts and other events. The redevelopment is part of an agreement under its ground lease with the New York City Economic Development Corp. The Pier 17 project is expected to be completed in 2015.
BOSTON — Fantini & Gorga has arranged a $13 million loan for the refinancing of 200 Portland St., a 97,000-square-foot office and retail building in Boston. Commerce Bank provided the loan to the borrower, Deajan Holdings PLC, a London-based real estate company. The property is located in the Bulfinch Triangle area of Boston, across the street from the Tip O'Neill Federal Building and TD Garden.
BOSTON — Seattle-based Nordstrom Inc. has opened a new Nordstrom Rack at The Newbry in Boston's Bay Back neighborhood. The 38,000-square-foot store is scheduled to open next spring in the former Filene's Basement space. Nordstrom Rack is the upscale fashion retailer's off-price chain that sells merchandise from Nordstrom stores and Nordstrom.com for 50 to 60 percent off original prices. The new location expands the company's presence to four full-line stores and four Nordstrom Racks in the Boston market. TIAA-CREF owns the Newbry, which is located at 800 Boylston St.
LEWISBURG, PA. — Marcus & Millichap has arranged the $3 million sale of Plaza 15, a 117,086-square-foot retail property at 7495 W. Branch Highway in Lewisburg. The complex is anchored by Save-A-Lot and Big Lots. Joseph French and Schuyler Boylan of Marcus & Millichap represented the seller, a financial institution that is liquidating all of its assets. French also represented the buyer, a developer specializing in value-added properties.
ENGLEWOOD, N.J. — CPEX Real Estate has arranged the $1.6 million sale of the former Mama Mexico restaurant building at 464 Sylvan Ave. in Englewood. The two-story, 13,815-square-foot building underwent a $2 million renovation in 2006. CPEX represented both parties in the transaction.
HOUSTON — Transwestern has brokered the sale of 3355 West Alabama, a 236,932-square-foot office tower located between Greenway Plaza and River Oaks in Houston. Ken Page and Scott Myers of Transwestern represented the seller, KBS Realty Advisors, in the transaction. The buyer, Granite Properties, was self-represented by Will Hendrickson and Paul Bennett.
AUSTIN — Muskin Commercial has arranged the sale of the 200-unit Meadowood Apartments, located at 9601 Middle Fiskville Road in Austin. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller in the transaction. Arbor Realty SR provided acquisition financing, and Legends Asset Management will manage the property.