A joint venture acquires the
80-unit Paradise Park of New
Lenox for just under $10 million.

NEW LENOX, IL-The 80-unit Paradise Park of New Lenox has sold to a JV for $9.8 million. Going forward, partners Focus Health Partners and Artemis Real Estate Partners will operate the assisted living/memory care property.

Debbie Laycock with ARA National Seniors led the team representing the seller of the property at 1023 S. Cedar Rd. Built in 2007, Paradise Park has has 48 assisted living units and 32 memory care units in five one-story cottages. “This property is an ideal opportunity for Artemis and Focus’s joint venture to acquire a well-built asset in a growing area,” says Laycock in a press release about the transaction.



ACQUISITIONS/DISPOSITIONS

DODGE CITY, KS

  • AOR Real Estate LLC sold 3,440 square feet to at 116 Ross Blvd. to Dakhil Family LLC. Brent Roberts with CBRE represented the seller.

KANSAS CITY, KS

  • Cope Plastics Inc. sold 15,080 square feet at 1521 S 45th St. to March Properties LLC. David C. Hinchman, Mike Mitchelson, Joe Orscheln, Brian Staton and Nicki Garrett with CBRE represented the seller.

PORTAGE, MI

  • ANR Kalamazoo Hotel 2 LLC acquired a 9,420-square-foot retail building located at 2610 Airview Blvd. Jeff Chrystal and Ted Vliek, of Signature Associates represented the seller, David & Diane Gallivan. The buyer has plans to tear down the existing structure and build a three-story hotel.

ROSEVILLE, MI

  • LVM Squared, LLC acquired 16,000 square feet of industrial space located at 15900 Common Rd. Ben Wilkiemeyer and Steve Gordon of Signature Associates represented the seller, Shady Lane Development Co, LLC.
  • Macnam Properties LLC acquired 0.80 acres on Groesbeck Highway. Viktor Gjonaj of Signature Associates represented both the seller, Groesbeck Martin LLC and the purchaser,.

TOPEKA, KS

  • Minneapolis-based Timberland Partners acquired the 318-unit Summit Woods Apartments at 1310 SW Overlook Dr. Built in 2002, Summit Woods is a 318-unit property comprised of 12 three-story, garden-style buildings and a clubhouse.  Plans are in place for exterior and common area improvements, along with new signage. Summit Woods is being rebranded as The Overlook.



DEVELOPMENT

CHICAGO

  • J.C. Anderson Inc. has been selected for a 31,000-square-foot build-out for the Government Services Administration (GSA) on behalf of the U.S. Military Entrance Processing Command at 8700 W. Bryn Mawr Ave. J.C. Anderson, Inc. was contracted by property manager, GlenStar Asset Management to complete the construction project which includes a new cooling system and medical exam rooms. The project will feature new offices, locker rooms and briefing/ceremony rooms. J.C. Anderson, Inc.’s Thomas Bean is the project executive, Joe Maguire is the project manager and Matthew Kantro is the assistant project manager. Darryl Tannhauser is the superintendent for J.C. Anderson, Inc. Rubin Architects is providing the architectural services. The project is scheduled for completion in late fall 2012.



LEASING

ELGIN, IL

  • Intellisource Inc. leased 17,700 square feet at 2531 Technology Dr. within the Rogers Business Parke-Elgin. The tenant was self-represented. Chris Zannis with Arthur J. Rogers & Co., a partner in The CORE Network, represented the landlord.

KANSAS CITY, MO

  • Bommarito Wines Inc. leased 1,013, square feet at Board of Trade Building II, 4900 Main St. from Board of Trade Building Inc., C/O DST Reality. Matt Eckert with CBRE represented the tenant.
  • Dominic’s Franchising LLC leased 2,838 square feet at 6209 NW 63rd Terr. from Village at Burlington Creek LLC. CBRE’s Chuck Mussorici represented the tenant.
  • KC Mobile Phones LLC leased 2,100 square feet at Tower Plaza Shopping Center, 3726 State Ave. Adam Lyngar with CBRE represented the landlord, Tower Plaza Shopping Center LLC.
  • Midwest Casualty Mutual  Co. leased 11,202 square feet at Town Pavilion 1100 Walnut St. from Town Pavillion LLC. CBRE’s Matt Eckert, Bob Fagan and Erica Williams represented the tenant.

LENEXA, KS

  • Cellnet Technology Inc. leased 16,108 square feet at 11146 Thompson Ave. from HRPT Lenexa Properties Trust. Larry Larsen with CBRE represented the tenant.

NORTON SHORES, MI

  • American Bingo Co. leased 1,800 square feet at 3120 S. Getty St. Bryan Bench of Signature Associates represented the tenant and the landlord, CMJ Properties LLC.

OLATHE, KS

  • United States of America took down 5,822 square feet at Northridge Plaza, the northeast corner of 119th & Strang Line Road from Northridge 07 A LLC, which was represented by CBRE’s Adam Lyngar.
  • Yusen Logistics (Americas) Inc. leased 3,500 square feet at 16500 Indian Creek Pkwy. from Family Time Investments. Brent Roberts with CBRE represented the tenant.

OVERLAND PARK, KS

  • Melinda Propps/J.B. Hunt Transport Inc. leased 2,266 square feet at 10500 Barkley from 2004 Property D LLC. CBRE’s Larry Larsen represented the tenant.
  • Thirsty Palette LLC leased 1,200 square feet at the southwest corner of 119th and Roe. David Hickman with CBRE represented the landlord, Hawthorne Plaza LLC.



EXECUTIVE MOVES

CHICAGO

Daniel B. Teitelbaum joined the national real estate law firm Pircher, Nichols & Meeks as an associate in the Chicago office. In his new position, he will be engaged in real estate financing, acquisitions and dispositions, as well as leasing. Prior to joining Pircher, Teitelbaum worked as a judicial extern at the Hawaii Supreme Court, a law clerk in the Holocaust Reparations Program at Bet Tzedek Legal Services, and a legal intern at The Ruben Law Firm. Teitelbaum received his J.D. at the University of California, Berkeley, School of Law in 2012. He is a recipient of the Prosser Prize in Accounting for Lawyers and the Berkeley Law Business Law Certificate. While attending Berkeley, Teitelbaum also was a teacher and co-director of Juvenile Hall Outreach, a founding member and treasurer of the Berkeley Tax Law Clinic, a volunteer advocate of the Expulsion Clinic, an article team member of the Berkeley Journal of Criminal Law, and a participant in the Berkeley-Harvard exchange program. He graduated from University of Southern California with a B.S. in Business Admin