Blizzaster Deal Sheet
| Forget bricks and mortar or glass curtain wall, we're building our real estate out of snow. Here's a pic Chicago reporter Maureen Wilkeytook on North Broadway Avenue yesterday afternoon. | |
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| With 21 inches of snow falling, making this the third biggest blizzard in Chicago history, not many of you were available for stories, so here's the wrap-up of some deals we've been meaning to tell you about for the last 10 days. | |
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| For starters, the University of Chicago and HSA Commercial are bringing Five Guys Burgers and Fries to the Hyde Park neighborhood. HSA's Michael Havdala and Kelsey Blindt repped the landlord in the lease at 1454 E. 53rd St. The University is hoping to redevelop the building into retail and still has 6,000 SF of leasable space on the second floor and 3,000 SF available on the first floor. Mid America's Brian Adams repped Five Guys. The university is redeveloping the building for retail and some office space. | |
| Sales News Suntex Ventures, a Dallas-based owner and operator of marina properties, in conjunction with Harrison Street Real Estate Capital, the Chicago-based real estate private equity firm, acquired Liberty Landing Marina in Jersey City, NJ. Liberty Landing is a landmark marina with 520-wet slips offering year-round dockage and dry storage for boats up to 200 feet in length. The marina is home toStatue Cruises, which gives tours around the Statue of Liberty, as well as two restaurants. *** Millenium Properties' Daniel Hyman and Susan Silver sold the 100k SF Chase Bank and adjacent vacant parcel at 975 E. Belvidere in Grayslake for $3.1M. They repped the seller, Grayslake Acquisitionfrom Land Holdings Realty Services out of Pittsburgh, PA. Sitko Rodella & Bruno's Kirk Rys served as counsel. *** The Boulder Group's Randy Blankstein and Jimmy Goodman completed the sale of a single tenant net-leased Walgreens property located in St. Paul, MN for $5.9M. The 14k SF building sits on a 1.18 acre parcel and is 100% leased. Randy and Jimmy repped the 1031 exchange buyer, a private family trust based in CA. The seller was a preferred Midwest Walgreens developer. *** Sperry Van Ness's Ben Andrews repped Lou Malnati’s Pizzeria in its acquisition of a 11k- SF building located at 1120 North State Street. The plans for this pizzeria include seating for 300, a full bar, and a large party room. This will be one of the company’s largest restaurants and offers the pizzeria’s only large party room in the city. *** Millenium Properties' Daniel Hyman, Susan Silver, and Greg Blocksold the 17k SF property at 900 Ridge at auction. K. Kenneth Engbought the building from American Chartered Bank. Millennium repped both parties. Brotschul Potts' Matthew Brotschul served as counsel for the seller. The building is 34% occupied. *** Marcus & Millichap's Ryan Engle repped the seller of a 60-unit apartment property in Lyons for the $3.5M sale. The buyer was a private individual who was secured and represented by Marcus & Millichaps James Clough. Riverside Trail Apartments is located at7860 West Ogden Avenue. The building was on the market for just 90 days. Executive Moves *** Rene Circ has joined Grubb & Ellis Co. as VP, national director of research, Industrial. Based in Chicago, he will responsible for leading the market research efforts for the company’s national Industrial Group as well as its industrial-focused practice groups. Rene joins from First Industrial where he spent 11 years, the last five as research director. Prior to First Industrial, he was a senior research analyst at Insignia/ESG. He also guest lectures at the University of Illinois at Chicago on topics such as market research and investment underwriting and structuring. Leasing News
CBRE's Mark Smith and Mike Graham represented ownership,Crossroads Development Partners. *** Colliers International's David Bercu represented Channel Distribution Corp. in a 68k SF new lease at 860 Thomas Drive in Bensenville. The owner of the facility is AMB Property Corp. Channel recently acquired the assets of Jaltrans Inc., a subsidiary of Japan Airlines. This acquisition has resulted in the need to expand from the company’s current location. ***
Construction News Finance News Marcus & Millichap's Ryan Engle repped the seller of a 60-unit apartment property in Lyons for the $3.5M sale. The buyer was a private individual who was secured and represented by Marcus & Millichaps James Clough. Riverside Trail Apartments is located at 7860 West Ogden Avenue. The building was on the market for just90 days. |
