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OWNERS OF WOODRUFF BUILDING IN SPRINGFIELD PLAN $13M REDEVELOPMENT
SPRINGFIELD, MO. — The owners of the Woodruff building in Springfield are moving forward with a $13 million renovation plan that would transform the vacant structure into a 96-unit apartment complex dubbed Sky Eleven. The multifamily property, which is located at 333 Park Central E., will feature studio, one-, two- and three-bedroom apartments. Plans for the 10-story property include a pool, doorman service, theater room, fitness area, restaurant and office space on the first floor. Woodruff Historic Building LLC has hired general contractor Build LLC and architectural firm Buxton Kubik Dodd Creative for the building remodel. The Vecino Group, which is developing the Landmark Building across the street, is also part of the redevelopment team.
CONSTRUCTION OF $13M ARMY RESERVE FACILITY IN MACHESNEY PARK UNDER WAY
MACHESNEY PARK, ILL. — Construction is under way for a $13 million Army Reserve facility, located just north of Route 173 near I-90 in Machesney Park, a northern suburb of Rockford. The 38,880-square-foot building is situated on 15 acres and will include administrative offices, a library, learning center, weapons vault, weapons simulator and physical fitness area. The Army Reserve is consolidating training facilities in Rockford and Beloit, Wis., into a modern, centralized campus to maximize safety and efficiency. The land was sold for $1.1 million by Orput Companies Inc. The general contractor is St. Louis, Mo.-based Korte Co. Construction on the facility is slated for completion by Dec. 6th.
HSA COMMERCIAL PARTNERSHIP TO DEVELOP 180,480 SF WAREHOUSE IN METRO CHICAGO
WOODRIDGE, ILL. — HSA Commercial Inc. will break ground this month on an 180,480-square-foot speculative warehouse facility at Park 355 in Woodridge, a western suburb of Chicago. HSA Commercial is partnering with Denver-based Industrial Income Trust for the project. The proposed industrial building will include 30-foot clear heights, frontage on I-355, 49 exterior truck docks and four drive-in doors. The industrial property will also be divisible by 17,580-square-foot suites to accommodate smaller industrial tenants seeking immediate leasing opportunities.
ONEBEACON INSURANCE GROUP SIGNS 45,092 SF LEASE IN SUBURBAN MINNEAPOLIS
MINNETONKA, MINN. — OneBeacon Insurance Group, a provider of specialty insurance products, has renewed and expanded its 23,764-square-foot office lease to 45,092 square feet on floors five, six and seven of 601 Tower at Carlson in Minnetonka, a western suburb of Minneapolis. The lease agreement brings the trophy building to 95 percent occupancy. Newport Beach, Calif.-based KBS Real Estate Investment Trust II, a non-traded REIT, purchased the 288,458-square-foot property in 2011. OneBeacon Insurance Group has been a building tenant since 2006. Tom Wille of the CLW Real Estate Services Group in Tampa, Fla., represented OneBeacon in the transaction. Mike Marinovich of CBRE in Minneapolis negotiated the lease on behalf of KBS.