INDIANAPOLIS-Browning Investments has gained a $20.3 million, 18-year loan for a recently-built office facility here on the campus of Dow AgroSciences headquarters. Dow has a 15-year lease on the 80,000-square-foot, two-story Biotech Research Building, which also has laboratory space.

Jonathan Everson with Holliday Fenoglio Fowler said the loan is a refinance. “We refinanced the construction loan to a permanent loan,” Everson tells GlobeSt.com. He wouldn’t comment on the construction price of the building, which was completed in November 2010. The recent loan was arranged through John Hancock Life Insurance Co.

"The completion of this new research facility is significant for our company, because the expansion is helping us accelerate investment in new scientific expertise, capabilities, and markets for our expanding seeds, traits and oils business," said Daniel R. Kittle, VP of research and development at Dow AgroSciences. The Biotech addition is part of Dow AgroSciences' growth plan to expand its research capabilities around the world in order to develop and commercialize innovative new products for customers in agricultural and related markets.

Dow is expanding in the Indianapolis area. The company announced in 2010 that it will invest more than $340 million to construct additions of its global headquarters over the next five years, with the first phase being a 14,000 square-foot greenhouse and a 175,000 square-foot research and development facility at its corporate campus on the city's northwest side. The agriculture-based firm anticipates the greenhouse construction to be complete by the end of the year while the R&D facility is expected to open in early 2012, with other building projects coming according to a multi-year timeline.

LIBERTYVILLE, IL-TMA Group Development Corp. recently sold a 193,653-square-foot industrial facility fully leased to Zeller Plastik Inc. at 1515 Franklin Blvd. to Gemstone Real Estate Partners. Patrick Sullivan with Converse Capital LLC represented the seller.

ADDISON, IL- LaSalle Investment Management purchased 1200 Greenbriar Dr. from Lincoln Property Co. for $17.2 million. Ken Szady and Jim Carpenter with Cushman & Wakefield of Illinois Inc. represented the seller. The property is a 263,490-square-foot industrial property that is currently 100% leased to nal.syncreon, a third-party logistics provider.

MOUNT PROSPECT, IL-Erik Foster and Mike Wilson with Grubb & Ellis Co. facilitated the sale of Prospect Industrial Center, a 240,000-square-foot multi-tenant industrial facility at 1900-2000 Carboy Rd., to Brennan Investment Group on behalf of an institutional fund. The property is leased on a long-term basis to a number of credit tenants, such as Walgreens.

CHICAGO-Two lease transactions have been signed within a 168,000 square foot facility in the Stockyards Industrial Park at 4300 S. Racine. New Premier Metals Recycling Inc. has leased 128,000 square feet of space to accommodate the firm’s expansion in Chicago. Mitch Goltz, VP with Chody Real Estate Corp. represented the tenant in the transaction. Also, Sunshine Supply Co. has leased 39,968 square feet of space for the relocation of their office & warehouse from Cermak & Canalport to this location. Michael D. Nelson, VP with Paine/Wetzel