VERNON HILLS, ILL. — Hobby Lobby has signed a 46,984-square-foot lease at the Hawthorn Village Commons shopping center at 220 Townline Road in Vernon Hills. Additional tenants include Dollar Tree, Pearle Vision and El Famous Burrito. Inland Real Estate Corp., the property owner, was self-represented by Mike Fitzgerald in the transaction. The retailer is scheduled to open later this year.
OREGON, OHIO — PREMIER Design + Build is constructing a 10,636-square-foot medical building at 333 Dustin Road in Oregon, a suburb of Toledo, Ohio. The center will be located within one mile of Mercy St. Charles Hospital and two miles of ProMedica Bay Park Hospital. The project includes the construction of medical exam rooms, physician offices and two ambulatory surgery procedure rooms. The building is expected to be complete this November.
MILWAUKEE — Central Asset Management has purchased a flex building at 5355 S. 27th St. in Milwaukee for $120,000. Steve Sewart, Dan Wroblewski and Lyle Landowski of Colliers International represented both parties in the transaction.
EXTON, PA. — Morphotek has opened an $80 million manufacturing plant in Exton, which will begin production operations later this year. The 60,000-square-foot facility will enable the company to make proprietary biologic therapeutic products for use in early-stage clinical trials. Its new product pipeline includes antibodies to treat cancer and autoimmune diseases.
BOLTON, MASS. — Paragon Holdings has acquired a 72-acre property in Bolton for $8 million. The company plans to consolidate its operations at Ashland and Southborough into one global headquarters. The Paragon companies, including Paragon Communications Inc., NTSDirect and Paragon R3, plan to occupy the new headquarters in January 2013. The campus includes a 301,647-square-foot building with a fitness center, cafeteria and basketball court. Paragon purchased the property, formerly the Future Electronics site, from RGM Holdings.
BURLINGTON, MASS. — Construction has started on a five-story, 120,000-square-foot office building at 78 Blanchard Road in Burlington. The building will be part of Blanchard Woods, a 200,000-square-foot office park developed by Duffy Properties. The park includes two existing buildings at 76 and 80 Blanchard Road, which total 80,000 square feet. Steve Murphy and Alex Plaisted of CBRE Group will manage the leasing for the property. 78 Blanchard Road is the first speculative office building under construction along Route 128 this year.
KING OF PRUSSIA, PA. — A fund comprised of Miller Investment Management and Hayden Real Estate Investments has purchased Walnut Hill Plaza, a 155,073-square-foot office building in King of Prussia. The fund, named MIM-Hayden Real Estate Funds, reportedly paid $11 million for the property, which is located at 150 South Warner Road. The companies plan to renovate the building's lobby, common area and restrooms. The MIM-Hayden fund has acquired 24 properties and is now 60 percent invested.
NEW YORK CITY — Crews have broken ground on the new Beacon High School at 521 W. 43rd St. in the Hell's Kitchen neighborhood of Manhattan. Skanska recently signed an $88 million contract to convert an existing six-story New York Public Library book storage facility into a modern high school. The project will include extensive demolition and the construction of a gymnasium and auditorium for the school's 2,900 students. The high school is scheduled for completion in May 2015.
SAN ANTONIO — USAA Real Estate Co. and Houston-based Cambridge Development Group have begun construction on The Residences at La Cantera, a high-end, 323-unit multifamily property located at 6215 Via La Cantera in San Antonio. The development will also include 4,000 square feet of retail space and a three-acre park with an urban plaza, lawn, playground, pond and shaded picnic areas. The development is the first phase of a mixed-use development called Town Center at La Cantera, which will feature hotel, office, retail and multifamily components. The development will eventually be linked to San Antonio's planned Leon Creek Hike & Bike Trail. The Residences at La Cantera will feature a clubhouse, cyber cafe, resort-style swimming pool, Jacuzzi, fitness center with yoga classrooms, an outdoor kitchen, fire pit and rooftop terrace. Dallas-based CF Jordan Construction served as general contractors, San Antonio-based Pape-Dawson Engineers served as the civil engineers, Looney Ricks Kiss Architecture designed the project, J. Robert Anderson was the landscape architect and San Antonio-based Riverstone Residential Group will manage the property upon completion. The property is designed to meet Texas Green certification standards.
SUGAR LAND — PM Realty Group has acquired the 515,000-square-foot Sugar Creek on the Lake, a Class A office building located at 14141 SW Freeway in Sugar Land. The purchase also included a parking garage and 14.72-acre parking lot. PM Realty plans to invest $13 million in capital improvements and additional parking with its equity partners, PCCP and Fuller Realty Partners. The building was fully occupied by Chevron until its lease expired in March 2010. The property is currently 20 percent occupied by Money Management International and Hightower Deli.