June 24, 2014 | ISSUE 347
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IDI Gazeley Begins Development 

on 1.3 MSF Antioch Corporate Center

The planned 1.3 million-square-foot Antioch Corporate Center development in Antioch, Ill., is located on Route 173, approximately one mile west of I-94 and one-half mile east of Route 45.

 

ANTIOCH, ILL. -- IDI Gazeley will construct a 454,276-square-foot building, the first at the planned 1.3 million-square-foot Antioch Corporate Center development in Antioch, approximately 47 miles north of Chicago. Building A will feature 36-foot clear heights, 48-by-60 foot bays and specifications for LEED accreditation. 

 

The park is located on Route 173, approximately one mile west of I-94 and one-half mile east of Route 45. Construction is expected to be completed in early 2015. The 97-acre industrial park was planned in 2008, but was put on hold as a result of the severe recession. Jack Rosenberg, Fred Regnery and Ned Frank of Colliers International will represent IDI Gazeley in marketing the property to tenants..

Prudential Mortgage Provides $131.7M

Loan for Self-Storage Portfolio

CHICAGO -- Prudential Mortgage Capital Co. has provided a $131.7 million loan to refinance 18 self-storage properties for Chicago-based Lock Up/Evergreen Storage LLC. The properties, which include 13,422 units totaling 1.15 million net rentable square feet, are located in Chicago, Minneapolis, Florida, New Jersey, Hawaii and Massachusetts. 

 

Several of the properties are Class A buildings featuring modern construction and are located in predominantly dense, high-income urban locations. The properties are collectively 86.5 percent occupied. The $131.7 million loan is structured in two parts, a $20 million, seven-year, floating-rate tranche, and a $111.7 million, 10-year, fixed-rate tranche.

Anthony Sansone Sr. Receives 

Lifetime Achievement Award

Anthony Sansone Sr., CEO and chairman of the Sansone Group, gives a speech after receiving the prestigious EY Lifetime Achievement Award.

 

OVERLAND PARK, KAN. -- Ernst & Young (EY) has awarded Anthony Sansone Sr., CEO and founder of the Sansone Group, the EY Lifetime Achievement Award. Sansone received the award Thursday, June 19 at the annual EY Entrepreneur of the Year 2014 Gala at the Sheraton Overland Park hotel in Overland Park, Kan.

 

Sansone, 87, established the Sansone Group nearly 60 years ago, growing the business into a nationally recognized commercial real estate firm. The St. Louis-based firm specializes in property and facility management, brokerage, development and redevelopment of retail, industrial, office and residential properties. 

 

Currently, Sansone Group manages more than 20 million square feet of property in 14 states. The company operates offices in Overland Park, Kan.; Fayetteville, Ark.; Knoxville and Nashville, Tenn., and West Palm Beach, Coral Springs and Miami, Fla.

 

Sansone was honored for his entrepreneurial accomplishments. Four of his eight children are all principals at the Sansone Group. In response to his special recognition, Sansone says he was "thrilled" and "honored" to receive the award.

 

"On behalf of our family, we are so proud of our dad and are so happy that he has received this marvelous lifetime recognition," says Sansone's son, Jim Sansone, a principal of the Sansone Group. "His guidance and vision made this company what it is."

 

Now in its 28th year, the EY program has expanded to recognize business leaders in more than 145 cities and 60 countries around the world. 

Browning/Duke Realty to Develop

1.2M SF Walmart Distribution Center

The 1.2 million-square-foot, state-of-the-art industrial building is being built to Walmart's specifications on a 64-acre site in AllPoints Midwest, a bulk industrial campus in Plainfield.

 

PLAINFIELD, IND. -- Walmart has selected Browning/Duke Realty, a joint venture partnership between two Indianapolis commercial real estate companies, to develop its new e-commerce warehouse and distribution center.

 

The 1.2 million-square-foot, state-of-the-art industrial building is being built to Walmart's specifications on a 64-acre site in AllPoints Midwest, a bulk industrial campus in Plainfield under development by the two companies. Scheduled for delivery later this year, the building, which will be known as AllPoints Midwest 3, will incorporate modern bulk warehouse features.

 

The facility will include 40-foot clear heights; 8,000-amp electrical service; 55-by-53-foot bay spacing with 55-by-60-foot spacing at the staging bays; and LED high-bay warehouse light fixtures. The 650-by-1,760-foot building, which is expandable by more than 200,000 square feet, also will include 16,500 square feet of office space, 100 9-by-10-foot dock doors and one 12-by-14-foot drive-in door. 

 

The Walmart facility will be the third fast-tracked, build-to-suit warehouse that Browning/Duke Realty has recently delivered at AllPoint Midwest. AllPoints Midwest is located off I-70 at Ronald Reagan Parkway and has access to the Indianapolis International Airport and the CSX Railroad's Avon intermodal yard. 

 

Brian Seitz and Kris Bjorson of Jones Lang LaSalle represented Walmart in the transaction. Mark Susemichel and John Cohoat of Browning, and Mark Hosfeld and Kate Ems of Duke Realty, represented ownership.

McShane to Complete New Walmart Neighborhood Market in Chicago

The new Walmart Neighborhood Market in Chicago will feature a full grocery component, which will include organic and natural selections, prepared food options, a self-serve deli, a bakery and frozen food section and a full-service pharmacy.

 

CHICAGO -- McShane Construction Co. will provide construction services for a new Walmart Neighborhood Market in Chicago. The retail store will be located at the corner of E. 47th St. and S. Cottage Grove Ave. The 41,000-square-foot store will feature a full grocery component, which will include organic and natural selections, prepared food options, a self-serve deli, a bakery and frozen food section and a full-service pharmacy. 

 

The 18-foot clear height retail space will also incorporate two truck docks and a back storage area. Walmart Neighborhood Market will serve as the ground-floor anchor tenant for The Shops and Lofts at 47, a new mixed-use development being built by McShane Construction on behalf of developers The Community Builders Inc., Skilken and Troy Enterprises.  

 

As part of the original assignment for The Shops and Lofts at 47, McShane Construction will also complete the property's sitework and an 85-car parking lot for retail customers. BRR Architecture Inc. is providing architectural services for the Walmart Neighborhood Market. Pappageorge Haymes Partners has served as architect for the mixed-use development, which is nearing completion..

$16M Mixed-Use Redevelopment 

Kicks Off in Springfield, Mo.

Heer's Luxury Living development will consist of 80 loft-style apartment units. Amenities at the community will include a fitness center, theater and game room and a rooftop clubhouse.

 

SPRINGFIELD, MO. -- The Springfield Area Chamber of Commerce hosted a groundbreaking ceremony Friday, June 20 for the $16 million historic redevelopment of the Heer's building in Springfield. The new Heer's Luxury Living development will consist of 80 loft-style apartment units. Amenities at the community will include a fitness center, theater and game room and a rooftop clubhouse. 

 

The development will also feature a police substation and approximately 15,000 square feet of commercial space for office, restaurant and retail use. Lee's Summit, Mo.-based Dalmark Development Group is developing the mixed-use project. Shawnee, Kan.-based Straub Construction Co. Inc. is the general contractor for the project. St. Louis-based Rosemann & Associates will design the new facility. The building is slated to open by its centennial in September 2015.

Architectural Firm Signs Office Lease 

at Lasalle Wacker Building in Chicago

Knight Engineering is the largest tenant in the 416,000-square-foot, 41-story LaSalle Wacker Building located at 221 N. LaSalle St.

 

CHICAGO -- MB Real Estate has arranged a 26,214-square-foot office lease renewal and expansion for Knight Engineering at the LaSalle Wacker Building in Chicago. The property is located at 221 N. LaSalle St. The full-service engineering and architectural firm renewed its lease for space on the third floor and expanded to a portion of the fourth floor at the office property. 

 

Knight Engineering is the largest tenant in the 416,000-square-foot, 41-story building. MB Real Estate has managed and leased the property since 2010. Walter Hennig and Kelsey Karp of MB Real Estate represented building ownership in the transaction. Knight Engineering was self-represented in the negotiations.

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Danielle Everson, Associate Editor
Heartland Real Estate Business
France Media, Inc.
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