Vibes Takes 21,620 SF at 300 W. Adams

Matt Carolan, managing director with Jones Lang LaSalle, said the tenant was able to upgrade from their current space. Carolan represented Vibes, and Chris Cassata with CB Richard Ellis represented the building owner. There is more than 100,000 square feet available at the 253,000-square-foot 300 W. Adams building, according to the building Web site. Carolan represented Vibes in the lease transaction.

MINOOKA, IL- ATI Physical Therapy has opened a 4,100-square-foot location at Heartland Crossing shopping center. The site is located in a multi-tenant outlout building of the shopping center, which features a total of 250,000 square feet of retail space. Phase two of the project includes 11 acres available for purchase or ground lease.

RIVERWOODS, IL-Randy D. Podolsky, managing principal of the locally-based Podolsky Northstar CORFAC International, has been named court-appointed receiver for three Illinois properties in Bolingbrook, Aurora and Willowbrook. The appointments were made in the Will and DuPage County Circuit Courts. Podolsky will serve as the exclusive marketing agent and property management firm for the receiver, for the three properties which range in size from 19,920 square feet to 61,585 square feet. Two of the properties are fully leased.

PALATINE, IL-Oakbrook Terrace-based Mid-America Asset Management Inc. arranged the sale of an outlot to Sonic at Park Place. Franchisor Boom Real Estate Development LLC plans to open the drive-in restaurant in fall 2010. Marget Graham and Katie Hennegan represented the landlord in the sale, and Steve Frishman and Brian Adams represented the tenant. The 230,024 square-foot-center is located on the southeast corner of Rand and Dundee roads, and is anchored by Walmart, OfficeMax, T.J. Maxx/HomeGoods, and Whole Foods.

CHICAGO-On May 22, Millennium Properties R/E Inc. will host a live real estate auction. The auction will take place at the Standard Club (320 S. Plymouth Ct.) at 11 a.m. with registration beginning at 10 a.m. Multiple property types are up for auction. The auction will include three bank owned apartment buildings in the Canaryville/Bridgeport area of Chicago. These two and three-flats are subject to very low minimum bids starting at only $110,000.

ADDISON, IL-Parts Town, a provider of replacement parts for restaurant and food-service equipment, has signed a long-term lease for roughly one-third of the space in a 188,274-square-foot industrial building in the west suburbs. Parts Town is leasing 64,409 total square feet. Britt Casey and Mike Hawryluk with Cushman & Wakefield represented the building's owner, a pension fund client of Lincoln Advisory Group, LTD, an affiliate of Lincoln Property Co. Jason West and Sean Henrick represented Parts Town. The building is at 1150 N. Swift Rd. in the Meadows Business Park, near the I-355/Lake Street interchange.

LINCOLN, NE-John Reed, VP of NorthMarq Capital's Omaha regional office, arranged first mortgage financings of $12.8 million for two multifamily properties here. Mystic Pines Apartments, at 1950 SW 27th St., contains 132-multifamily units and was financed at $7.8 million. Eagles Landing Apartments, located at 1210 Turtle Creek Rd., contains 78-multifamily units and was financed at $5 million. Financing for both of these properties was based on a 35-year term with a 35-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with Johnson Capital FHA. This transaction closed under FHA's Section 223(f) program.

FISHERS, IN-The Indianapolis office of Holliday Fenoglio Fowler L.P. has secured a $2.1 million refinancing for Crosspoint Corner V & VI, adjacent suburban office properties totaling 27,965 square feet. The properties are both 100% occupied and are in a suburb of Indianapolis. Working on behalf of Shamrock Builders, HFF managing director Jon Everson placed the non-recourse, fixed-rate loan with a correspondent life insurance company. Loan proceeds were used to refinance the existing debt, which was approximately two years from maturity. The borrower had entered a flexible prepayment window and opted to manage their near term refinance and interest rate risk by refinancing early. The loan will be serviced by HFF.

MUNCIE, IN-Principals from Paramount Lodging Advisors have been engaged as asset manager for the Holiday Inn Express here. The hotel is owned by SuperHost Hotels and features 76 guest rooms.

NOVI, MI-HQ Global Workplaces LLC leased 20,070 square feet of office space at 39555 Orchard Hill Pl. from the Northwestern Mutual Insurance Co. Steve Rigby, Peter Danna, Baron Aldrine and Mike Kay with CB Richard Ellis negotiated the lease on behalf of the tenant.

WESTLAND, MI-Gamerz signed a 22,000-square-foot lease has been executed at Westland Crossing. Gamerz USA will offer an indoor battlefield laser tag arena. Westland Crossing is south of Interstate 96 and east of Interstate 275, on the northeast corner of Warren and Wayne roads. Centro Properties Group is the owner of the center and was represented by Brian Mychajluk.