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January 5, 2010 
 
 
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THE DEAL SHEET

 
Sales

CBRE's Anthony Gange and Brian Buckingham have been retained by RHA as the exclusive sales agents for the Walnut Glen development in Island Lake. Comprised of 140 acres, Walnut Glen is being developed as a residential subdivision. The development includes 96 lots that are improved and ready for permit approval and 85 lots that are fully entitled and partially improved.

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CenterPoint Properties chose Jones Lang LaSalle to market for sale or lease the 455 acre DuPage National Technology Park, which includes build-to-suit opportunities as well as shovel-ready land along the I-88 corridor. JLL’s Len Caldeira, Frank Griffin, and Conor Mullady will lead the marketing effort. DuPage National Technology Park is an 800 acre campus with a total build-out of 5.5 million SF. On the south side of the property is approximately 2 million SF designed to serve industrial users, while 2.6 million SF are dedicated for technology companies.

 

People news

Mark H. TeGrootenhuis, SVP, development division, HSA Commercial Real Estate, has earned the Certified Commercial Investment Member designation from the CCIM Institute. In 12 years, Mark has managed: the completion of the firm's O'Hare East Business Center, a 325k-SF warehouse and distribution facility in Franklin Park; two 82k-SF industrial buildings in Woodridge; and the redevelopment of Orland Park Place Mall in Orland Park.

Architecture

The Chicago office of HOK announced that the JW Marriott Indianapolis, the largest JW Marriott in the world, has topped out. The1M-SF hotel will be the centerpiece of a $450 million complex called Marriott Place Indianapolis. The hotel will house 104k-SF of meeting space, a 41k-SF ballroom (the largest in the region), and more than 1,000 guest rooms. It’s slated for completion in Feb '11.  

Leasing

Colliers Bennett & Kahnweiler's David J. Gelfand and David G. Miller represented Wilson Elser Moskowitz Edelman & Dicker LLP in a 35k-SF new long-term lease at 55 W. Monroe Street. Wilson Elser will be relocating from 120 N. LaSalle Street. The firm will move in the second quarter. Colliers B&K is also handling the marketing of Wilson Elser’s sublease at 120 N. LaSalle.

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Colliers Bennett & Kahnweiler's Jack H. Rosenberg and Frederick L. Regnery repped Ulta Salon and Cosmetics in a 291k-SF renewal / extension at 1135 Arbor Drive, Romeoville.  Nicolson Porter and List's Adam Stokes represented the owner, UBS.

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IDI has closed a 296k-SF lease renewal with Caterpillar Logistics Inc, at 2001 Baseline Road in Montgomery. Caterpillar uses the facility for staging, light assembly, and quality control of parts for the company’s US operations. Colliers Bennett & Kahnweilers Matthew Stauber represented Caterpillar.

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IDI also recently closed another lease with Hubbell Lighting, Inc. The company will occupy 83k-SF at 1455 Sequoia Dr in Orchard Road Business Park beginning this month. Hubbell will use the space for the distribution of electrical fixtures and supplies for the privately owned Progress Lighting brand. USI Real Estate Brokerage Service's Emmett Purcell and Tom Pulie repped Hubbell.

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Silliker, provider of food safety and quality services, will be moving its North American HQ from the Chicago suburb of Homewood to the East Loop, where it will occupy 33k-SF at 111 East Wacker Drive this coming spring. Studley's Robert Sevim represented Silliker. The landlord, Parkway Properties, was represented by J.F. McKinney's Jack McKinney Jr. and Brian Whiting.

Management

CB Richard Ellis has taken over as direct manager for all of RREEF's 43 industrial and office properties in the Chicago region including Oak Brook Executive Plaza. The properties are part of a 70M-SF US commercial property portfolio that RREEF recently assigned to CBRE as the direct property manager. The engagement is one of the largest third-party property management assignments in the US commercial real estate industry. RREEF, which had previously provided in-house property management services, manages the properties on behalf of its clients and will remain the asset manager for the portfolio. CBRE's Steve Bassett, senior managing director of Strategic Accounts, will lead the national team servicing the account. The RREEF account team in Chicago is led by George J. Kohl.

Company news

Dermody Properties Foundation recently donated a credit worth $12,000 to the Greater Chicago Food Depository to benefit the Respond Now Food Bank in the south suburban village of Sauk Village. Sauk Village held its first Holiday Food Basket giveaway on Dec 16. Respond Now volunteers packed special food baskets of turkey dinners with all the fixings. The Village is home to DP's LogistiCenter at Sauk Village, a 1.5M-SF industrial park.

 

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