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Easy Button Takes 26k SF; The Deal Sheet

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Easy Button Takes 26k SF; The Deal Sheet
Staples has signed a long-term lease for  26k SF  of office space at Heron Point  in  Lombard: the entire second floor, a showroom space on the first level, and a meeting space on the lower level.
 
Heron Point
The 103k SF building at 655 West North Ave. is now 100% leased. Staples will relocate from Woodridge. The lease also provides for signage along I-355. NAI Hiffman's Michael Stephany and Aubrey Van Reken represented the property owner, Samvest of Lombard II. Colliers International's Steve Kling repped Staples.
 

Sales

A Calif.-based investment group has purchased the 1M SF  REO Charlestowne Mall in St. Charles for an undisclosed sum. Cushman & Wakefield's Dallas capital markets group led by Stephannie Mower with Tom Salanty and Brandon Beeson represented the seller, Midland Loan Services, with the support of C&W's Ken Szady and Jim Carpenter. The mall is anchored by Carson Pirie Scott, Classic Cinemas, Kohl's, Sears, and Von Maur. The new ownership group, fronted by investors Bobby Montanye and Alan Wong, plan to revitalize the mall as they have done previously with distressed properties on the West Coast.

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Colliers Bennett & Kahnweiler's Bob Chodos and  Steve Levitas represented Hill Mechanical Group in the purchase of a three-building, 184k SF industrial complex on 19.4 acres in Franklin Park. The seller was CGI Franklin Park. The buildings include 11100 Belmont Ave., 3201 Wolf Rd., and 3205 Wolf Rd. The recent acquisition of the Central Grocers complex was a strategic business decision as it is located adjacent to Hill's current HQ at 11045 Gage Ave. Grubb & Ellis' Matt Mulvihill and Ryan Kehoe repped CGI Franklin Park.

Leasing

Inland Real Estate Corp. has signed a lease with AJ Wright to occupy 21k SF at Six Corners Plaza, bringing the shopping center to 100% occupancy. A division of  TJX Cos., the store is scheduled to open in late October.

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Denholtz Associates recently completed a 10k SF 10-year lease renewal and expansion agreement with Chiro One Wellness Centers at Butterfield Office Plaza, 2625 Butterfield Rd. in Oak Brook. Grubb & Ellis' Linda Garske repped tenant and landlord.

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Produce World Deli & More has signed a long-term lease to relocate and expand into the nearby Old Navy store at Village Plaza,Harlem and Dempster Roads in Morton Grove. Produce World currently occupies 13k SF at 8800 Waukegan Rd., half a mile from the new location. Old Navy, whose new store model requires less square footage, is not renewing its lease, which ends Oct. 1. NAI Hiffman's Michael Meksto and Jim Tsevis represented the tenant, Produce World. CBRE's  Joe Parrott represented the landlord,Village Plaza.

People

Tim Murnane has been hired as president of Opus Holding LLC and Opus Holding Inc. He will oversee the operations of Opus North president and CEO Tom Shaver and Opus Design Build president and CEO Dave Bangasser. He will report to Keith Bednarowski, who will remain CEO and chairman of the board for Opus Holding Inc. and Opus Holding LLC until Jan. 1, 2011.

Company News

Chicago-based financial advisory firm MorrisAnderson  has formed a JV with Frontline Real Estate Partners. MorrisAnderson will provide referral sources and clients with distressed real estate assets with restructuring, turnaround management, bankruptcy advisory, and investment-banking services. Frontline has successfully completed multiple projects with MorrisAnderson over the past nine months, including the restructuring of Minneapolis-based Granite City Food & Brewery's restaurant leases and providing expert-witness testimony on behalf of The Dime Building, a Class A office building in Detroit.

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DLR Group has been named an "intern friendly" firm by the AIA and the National Council of Architectural Registration Boards. DLR's intern development program was launched in 2009 and is a formalized mentoring and instructional program to assist architectural interns in passing state architecture registration exams. DLR was one of 10 groups recognized with the award in June.

Auctions

Sheldon Good & Co.
 will auction several parcels of land in northwest suburban Chicago. Ranging from a development parcel in South Barrington to improved and unimproved residential land, the parcels will be offered via an open outcry auction on Thursday, Aug. 19, 2010 at the Marriott Hotel at 4800 Hoffman Blvd. in Hoffman Estates. Properties will be open for viewing before the auction.