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Hines, KBS Close 300 N. LaSalle; The Deal Sheet

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Hines, KBS Close  300 N. LaSalle; The Deal Sheet
On Friday, Hines announced the sale of 300 North LaSalle to KBS Realty Advisors, a Southern California investment firm. Financials on the deal were not disclosed. The Chicago office of HFF repped Hines while KBS represented itself.
 
Hines, KBS Close  300 N. LaSalle; The Deal Sheet
The 60-story tower contains 1.5M SF  and was awarded LEED Gold. It was designed by Pickard Chilton and developed by Hines in 2009. Hines will continue to manage the property, which is 96% leased to Kirkland & Ellis, the Boston Consulting Group, GTCR Golder Rauner, Quarles & Brady, and Aviva USA, among others.

Leasing

Parkway Properties has signed an early renewal and expansion with United States Cellular Corp. for 212k SF at Citicorp Plaza. The renewal extends US Cellular's lease expiration through Oct. 31, 2017. Citicorp Plaza is owned by Parkway Properties Office Fund LP, and Parkway's share of ownership is 40%. J.F. McKinney's Dru ShoemakerMatt Pistorio, and Brian Whiting repped the building's ownership. CBRE's  Bob Reaumond  and James Whalen represented U.S. Cellular.

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Lee & Associates' John Cassidy and Ken Franzese  represented Touchpoint Logistics in a 100k SF warehouse lease at 4001 Rock Creek Blvd. in Joliet. Avison Young's Mike FondaHugh Williams, and Brian Kelly represented building ownership, IDI.

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Lee & Associates' Mike Plumb represented United Delivery Service in the leasing of 47k SF of industrial space located at 700 Rohlwing Rd. in Itasca. NAI Hiffman's Brian Colson and Eric Fischer at NAI Hiffman represented building ownership, AMB.

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Transwestern's Tony Karmin and Scott Becker represented Thompson Flanagan & Co. in a long-term 10k SF lease at 626 W. Jackson Blvd. Thompson Flanagan will relocate from 150 North Wacker Dr., where it currently occupies 5k SF. The landlord was represented by Sterling Bay Cos.' Andy Gloor.

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Morgan Realty Partners' Bill Waliewski completed two lease renewals within the Westmont Business Park in Westmont. The first was a 28k SF lease renewal to Emgee Marketing at 2-44 Plaza Dr. in Westmont. Bill represented ownership and the tenant was self-represented. The second was a 3k SF industrial lease renewal to JMS Environmental at 33-47 Chestnut within Oakwood Commons  in the Westmont Business Park. Bill represented ownership in the lease negotiations and JMS Environmental was self-represented.

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A.G. Transportation  has leased a 13k SF industrial building located at 34 Official Rd. in Addison. Lee & Associates' Nick Eboli represented building ownership, Edgewood Construction.

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Morgan Realty's Bill Waliewski completed a 6k SF lease renewal to Morgan/Harbour Construction within Woodridge Commerce Centre at 10204 Werch Dr. in Woodridge. Bill represented ownership and Morgan/Harbour Construction was represented itself.

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ProDance Elite has leased 5k SF of industrial space located at 2652 Corporate Pkwy. in Algonquin. Lee & Associates' Steve Bass and Nick Eboli represented building ownership, Rothbart Realty/Construction.

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UGL Equis was awarded a national broker contract with the General Services Administration. This contract provides UGL Equis access to perform lease acquisition and construction administration services for the GSA and its wide range of Federal Agency clients across the country. After successful completion of the Space Acquisition and Construction Administration Program for the Census 2010, this contract further extends the 13-year relationship between UGL Equis' government services group and the GSA. UGL Equis is one of four vendors to receive an award under this new contract. The start date for this new contract is Oct. 1 and has a one- year base term with four one-year option periods.

Sales

Marcus & Millichap has sold  Red Robin, a net-leased restaurant property at 250 S. Weber Rd. in Bolingbrook for $1.83M. M&M's Sean Sharko and Austin Weisenbeck had the exclusive listing to market the property on behalf of the seller, a private investor. They also repped the buyer, another private investor.

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Sperry Van Ness' Jeffrey Baasch closed two bank-owned mixed-use properties; a 28-unit building located at 7847-53 S Essex Ave. in South Shore, and a four-unit building located at 6323-25 W. Belmont in Belmont Cragin.

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Marcus & Millichap's Bruce Harris brokered the sale of Sports Authority Plaza, a 64k SF shopping center in Calumet City. The buyer is a private investor out of the New York City area, which completed a 1031 Exchange with the purchase of the property.

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Paine/Wetzel • ONCOR International's  Michael Nelson  and Mark Nelson have completed a 2.4-acre land sale for SRA Scrap Metals at 3405 S. Lawndale in Chicago. Value of the transaction was $900k. SRA purchased the parcel as well as the Gonzales Auto Parts business. The scrap metal processing company plans to combine their operations with the auto salvage business.

Finance

Working with Tishman Hotel & Realty, Jones Lang LaSalle has secured $158.5M  in senior debt financing from Goldman Sachs Real Estate Mezzanine Partners for the refinancing of the Sheraton Chicago Hotel & Towers, a 1,209-room, full-service, convention hotel located in the heart of downtown Chicago. Leading the JLL team was Mathew Comfort  and Jeffrey Davis.

Auctions

CBRE Auction Services will offer an operating 78-room Holiday Inn Hotel at 9780 North by Northeast Blvd. in Fishers, Ind., in an open outcry auction on Aug. 31. The hotel was renovated in 2004. The Holiday Inn franchise terminates Sept. 31. The open-outcry auction will be at the Fishers Hospitality & Conference Center  at 9775 North by Northeast Blvd., in Fishers. Registration begins at noon. A certified or cashier's check in the amount of $50k  is required to bid.

Management News

Lowe Enterprises  and Golub & Co. have engaged CB Richard Ellis as the exclusive leasing, management, and project management service provider for 1603 Orrington Ave. and 1629 Orrington Ave. in Evanston. The Orrington Plaza complex is comprised of a 308k SF 20-story office tower and a 31k SF two-story retail building. CBRE's Patricia Schlauder will serve as general manager. CBRE's Michael Whisler and Daniel Graham are serving as leasing agents for the 1603 Orrington Ave. CBRE's Kim McGuire and Daniel Jacobson are serving as retail leasing agents for 1629 Orrington Ave.

Executive Moves

Renae Bradshaw has been promoted at the Chicago office of HOK to principal and director of interiors. In her new role, Bradshaw will lead the interiors practice. She will be responsible for client relations and oversight of operations, staffing and market strategy. Most recently, she served as a SVP at VOA. She received her Bachelor's degree in journalism from Texas Tech University.

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Brian Scruggs has joined CB Richard Ellis  as manager in the tenant rep group. In this position, he will oversee the group, providing CBRE professionals detailed financial and analytical consulting. With more 10 years of industry experience, he was at  AMB Property Corp. where he was responsible for the acquisition of over 7.2M SF of industrial real estate. Brian received his BS in engineering from Vanderbilt University.

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Doug Tarr  has joined Foresite Realty, where he is now responsible for overseeing the leasing and marketing efforts for its Chicago area commercial real estate portfolio. He has 29 years of experience  in brokerage and representation assisting both landlords and tenants. He joins from Inland Real Estate Group, where he was regional director of leasing.

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Nick Siorek has joined Reed Construction as project manager within its Healthcare Group.  He will be directly responsible for overseeing the firm's many healthcare projects. Nick was previously employed with the University of Chicago Medical Center as a project manager where he completed multiple healthcare renovations He received his BA in Interior Design from the International Academy of Design & Technology.

Construction

Reed Construction has completed 38k SF of spec suites within the Michigan Plaza building at 2 05/225 N. Michigan Ave.in Chicago. MB Real Estate, the property's manager, selected Reed to build-out the spaces, perimeter offices, conference and break rooms. Reed's Jack Hennessy  was the project executive and Matt McGriff  was the senior project superintendent. Whitney Architects  provided the architectural services.