Chad Firsel, president of Quantum Real Estate Advisors Inc.,represented the buyer in the transaction. He says Mosaic securedfinancing from Wells Fargo for 25% of the purchase price. Theproperty, 97% leased, had 15 bidders. "It's the largest open-airdeal in the past two years," Firsel says, and shows that sufficientcapital from banks and investors is starting to pour through thesystem.

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The property at the intersection of Randall and McDonald roadsincludes a pad that can hold another 25,000-square-foot building,Firsel says. The 2-year-old center was built by V-Land Corp.

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BEDFORD PARK, IL-CB Richard Ellis represented ownership in thesale of a 296,147-square-foot industrial building at 7123 W. 65th.The building was purchased by GRM Information Services, a nationalrecord storage company. The new building serves as an expansion forthe GRM, which will take occupancy of the new building soon andcontinues to operate at its current location at 2211 S. Throop St.in Chicago. The sale price was not disclosed. According to MichaelCaprile of CBRE, who worked on the sale with Mitch Adams, TedStaszak and Stephanie Park, "Despite a recent resurgence in theinvestment sales market, investors are still not willing to take ona lot of leasing risk and users are finding excellent opportunitiesto own and occupy." Jeanne Rogers at Arthur J. Rogers & Co.represented the tenant.

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SCHAUMBURG, IL-Lee & Associates has completed an investmentsale in conjunction with a 10-year lease on a 40,000-square-footindustrial building at 2324 Palmer Dr. John Cassidy and KenFranzese represented the landlord, Shorewood Properties LLC. MasIshida of TOBI International represented the tenant, Amada-Wasino.The building was sold to Shorewood on a pre-lease to Amada-WasinoAmerica. The value of the lease is more than $4 million and isbased upon a substantial retrofit and upgrade of the property. Thefacility will provide a showroom and system configuration area forAmada as well as for parts storage and distribution.

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BOLINGBROOK, IL-BPG Properties Ltd., a private equity realestate fund manager, announced the completion of a94,118-square-foot lease with Jet Lithocolor Inc. at 605Territorial Dr., a 182,400-square-foot warehouse/manufacturingfacility located within Remington Lakes Corporate Center. Jet isrelocating in order to satisfy a need for increased space and toattain the ability to have full temperature control over its space.Jason West, senior director of Cushman & Wakefield of IllinoisInc., represented Jet in the lease negotiations. The landlord wasrepresented in the negotiations by CB Richard Ellis' TraciBuckingham, first vice president, and Grant Glattly, associate.Originally constructed as a Tellabs facility, the building features30-foot ceiling heights, ESFR sprinkler system, full climatecontrol and six-inch, steel-reinforced, laser-leveled concretefloors. It has 28 docks with 130-foot minimum truck court depthsand 49 by 40-foot bays. BPG acquired the building in 2004 on behalfof BPG Investment Partnership VI L.P., a $384 million privateequity fund sponsored by BPG.

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CHICAGO-Regina Webster & Associates has signed a new 7,000square foot long-term lease at the firm's Interpark CorporateCenter located at 8601 - 8623 W. Bryn Mawr Ave. The professionalengineering services firm selected to relocate to the officecomplex from its prior location on Chicago's Northwest side. SteveChrastka, VP of leasing at JCF Real Estate, led the transaction.Acquired by JCF in 2001, Interpark is a 164,000-square-foot,single-story office park near O'Hare International Airport. Theproperty consists of 12 buildings on approximately 8 acres.

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OAK PARK, IL-Family-owned regional chain American Mattresssubleased a 4,613-square-foot building from Bank of America,according to Richard Spinell, Principal of Oakbrook Terrace,IL-based Mid-America Asset Management Inc., whose firm representedthe bank in the transaction. The building is at the southeastcorner of North and Harlem, and American Mattress is expected toopen here in June 2010. Mid-America VP Marget Graham and SeniorLeasing Representative Mary Beth Menelli transacted the lease onbehalf of Bank of America, while Jason Gustaveson with Stone RealEstate Corp. and Fred Feinblum with Julius M. Feinblum Real EstateInc. represented the tenant.

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WESTMONT, IL- DuPage Medical Group, a physicians practice group,has expanded its lease at 801 N. Cass Ave. to 17,000 square feet.The company signed an expansion for 5,275 square feet toaccommodate a physical therapy practice. Bill Waliewski with MorganRealty Partners represented building ownership, HTW LLC in thelease negotiations. John Moysey of V3 Realty Co. represented thetenant.

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RIVERDALE, IL-McShane Construction Co. is going to redevelop a45-year-old facility into the 52-unit Riverdale Senior Apartments.The extensive reconstruction project is located on a half-acre siteat 335 West 138th St. The 52-unit, five-story multifamily projectwill feature a combination of public and affordable housing,including 43 one-bedroom apartments and nine two-bedroom units. Theproject will also feature three ADA accessible units, and eightresidences will be designed as ADA adaptable to accommodate futureconversion. The project will receive funding from the AmericanReinvestment and Recovery Act though the US Department of Housingand Urban Development, the Housing Authority of the County of Cook,and the County of Cook's Department of Planning and Development.The project is scheduled for a December 2010 completion.

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WHEELING, IL-Cabot Properties has signed a 23,184-square-footlease in a multitenant industrial building at 1543-1547 Abbott Dr,bringing the property to 100% percent occupied. The manufacturerand custom packager has signed a 23,184-square-foot lease in thebuilding, Jones Lang LaSalle's North Market team, Robin Stollbergand Kurt Sarbaugh, represented the owner. At the end of the fourthquarter, leasing activity in the North Market totaled approximately4.1 million square feet year to date. Overall asking rates in thesubmarket decreased from $5.74 per square foot in the fourthquarter 2008 to $5.40 per square foot in the fourth quarter 2009 asa result of decreased tenant demand and the increased competitionfrom landlords. Even as construction activity has stopped in othersubmarkets, the North I-94 corridor has already delivered newproperties this year, directly contributing to rising vacancy. TheNorth I-94 Corridor construction activity for the fourth quarterwas down more than 91% year-over-year. With that said, constructiondeliveries totaled only two projects for the whole of 2009,compared to 14 projects delivered in 2008. In 1999 this figure wasmore than double with 33 projects delivered.

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DETROIT- Strategic Staffing Solutions has leased 10,256 squarefeet of office at the Penobscot Building at 645 Griswold. TheLandlord, Finsilver/Friedman Management Corp., receiver ofPenobscot, leased the space. Steve Eisenshtadt with Friedman RealEstate Group represented the landlord.

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SOUTHFIELD-Transwestern Detroit was recently awarded the leasingof Central Business Park, situated on approximately 18 acres andconsists of 24 single and multi-tenant industrial buildings. Theleasing team of Bill Harvey, Casey Powell and Chuck Howard will bepresenting this opportunity to the market. Tenants include HenryFord Health System, FedEx, and Verizon. The park is owned by PRSEquities Limited, a real estate investment, development and assetmanagement firm headquartered in Birmingham, MI.

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MONROE, MI-DeMattia Group has broken ground on VentowerIndustries' new manufacturing facility. The company will build windtowers in the new 115,000 square foot building located at the Portof Monroe. The site has access to rail, water and truck routes toallow components to be delivered to all areas east of theMississippi. The project will include the reclamation of the35-acre brownfield site. At full production, Ventower plans tobuild up to 250 wind towers per year and employ an estimated 150new workers. The facility's design incorporates a planned expansionof 76,000 square feet. The manufacturing processes will take platesteel bend, weld, paint and assemble it into 15 foot diametermonotubes with combined sections reaching 240 feet in height. Thefacility has 40 ton cranes as well as process and material handlingequipment to accommodate individual tower sections up to 115 feetin length. The building should be complete by January.

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SARTELL, MN-Grubb & Ellis Healthcare REIT II has acquiredthe Center for Neurosurgery and Spine, a 36,600-square-foot,two-building medical office portfolio. Located at 162 and 166 19thSt. South, the center is within one-half mile of CentraCare ClinicHealth Plaza and three miles of the 393-bed St. Cloud Hospital.Built in 2006 on approximately 3.7 acres of land, the property isfully leased to five tenants, including Central MinnesotaNeurosciences, the Center for Pain Management and Central MinnesotaCenter for Diagnostic Imaging. The property is 100% occupied. Theproperty was acquired from unaffiliated third parties: StingrayProperties LLC, Crystal Blue Properties LLC, Sylvan Holdings LLCand Dr. Samuel Elghor. The sellers were represented by Noah Larsonof Grubb & Ellis|Northco Real Estate Services.

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LEXINGTON, KY- Intercontinental Hotels Group recently sold theHoliday Inn Lexington North to H.I. Partners for an undisclosedsum. The 302-room hotel is located on 12 acres. The hotel is inclose proximity to downtown Lexington and the University ofKentucky. The property is scheduled to retain the Holiday Inn flagthrough 2010. Jones Lang LaSalle Hotels represented the seller inthe transaction.

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CANTON, OH-Centro Properties Group has leased 6,501 square feetto TNT Bootcamp, an aerobics facility, at Springbrook Plaza. Thecenter is on Whipple Avenue south of Belden Village Street, onemile off of Interstate 77. Avi Abroms represented the propertyowner in the transaction.

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