THE DEAL SHEET
Prime Group Realty Trust selected Grubb & Ellis as the leasing agent for seven office buildings totaling nearly 408k-SF in the East/West Corridor office submarket. Grubb & Ellis's Michael Fortuna and Brett Ratay will assist Prime Group in leasing the available space in the buildings, with the focus of their efforts being The Olympian Office Center in Lisle and Brush Hill Office Courte in Westmont. The team has also been selected as the listing agents for Enterprise Center II in Westchester and The Atrium in Naperville.
Paine/Wetzel ONCOR International has completed three industrial transactions totaling 9k-SF at 4800 S. Richmond Street in Chicago. In each, Paine/Wetzel's Albert Schulman and Michael D. Nelson repped the landlord 4800 S. Richmond, LLC.
- Granite fabricator Juan Carlos signed a new lease for 5k-SF.Schulman and Nelson repped both tenant and landlord.
- Bedding manufacturer Alfonso Martinez signed a new lease for 3k-SF. The tenant was self-represented.
- A new import/export business owned by Angel Gonzalez has signed a new lease for 2k-SF. Paine Wetzel's Michael D. Nelson and Mark A. Nelson represented the tenant.
Mathematica Policy Research, Inc. selected the 32-story One Illinois Center, 111 E. Wacker Drive as its first Chicago office. Paine/Wetzel-ONCOR International's Ed Barnett and William F. Berndt repped Mathematica while J.F. McKinney's Jack McKinney Jr. represented the landlord, Parkway Properties.
Howard Ecker + Company announced the launch of its Cleantech Real Estate Group, which specializes in providing corporate relocation services to cleantech companies as well as tax incentive consulting, negotiation, and compliance. In partnership with True Partners Consulting, Howard Ecker + Company is working with both foreign and domestic cleantech companies to handle expansion and relocation efforts that increasingly include a variety of local, state, and federal tax incentives for qualified companies.
Jones Lang LaSalle has launched a joint venture with Real Estate Disposition, LLC to provide a sophisticated online auction sales platform that creates a market for optimal commercial property and note disposition. The JV merges REDC?s auction capabilities with JLL?s global commercial property and note sale expertise. The commercial property auctions will debut with a 100k-SF commercial property sale in October.
Landmark Properties, a developer of student housing and its affiliated entity, Retreat Holdings, and Chicago-based real estate private equity firm Harrison Street Real Estate Capital have formed a $100 million JV to develop and manage new student cottage communities throughout the country. The partnership has worked on two developments—one in Tuscaloosa, Alabama and another one in Knoxville, Tenn.
Jeff Leicht has joined Next Property Management, Inc. as Director of Property Management. Leicht will intensify Next Realty's property management operations in both retail and parking portfolios. Prior to joining Next, Jeff was Director of Property Management for Pasquinelli/Portrait Homes based in Burr Ridge.
Jones Lang promoted seven executives in its Chicago Tenant Representation business. The brokers promoted from EP include Michael Burns, Matt Carolan, Dan Maslauski, Trevor Ragsdale,Pam Stamataky, Steve Steinmeyer and Andrea Van Gelder. In 2008, JLL?s Tenant Representation business represented clients in more than 17M SF of transactions with a value of more than $2.7 billion. The group represented some of the largest office and industrial transactions in Chicagoland including BP, Baker & McKenzie, MillerCoors, Regent Partners and Spencer Stuart.
Zifkin Realty Group formed an office brokerage group to be anchored by industry veterans Lou Kahn and Ed Gerstein, both joining as EVPs. They will be joined by Brent Burden. The new team will leverage their combined 55 years of office brokerage experience to focus on tenant and landlord representation in the Midwest. Lou is a 30-year industry veteran. Prior to joining Zifkin Realty Group, he served as a VP at Colliers Bennett & Kahnweiler, where he was responsible for the sale and leasing of institutional and privately-owned office & medical property portfolios in the suburbs. Ed was president of his own brokerage firm, Edward M. Gerstein & Associates, for 20 of the 25 years that he has been in the office brokerage industry.
Tyson Fraser has co-founded and will serve as a principal of Northbrook, IL-based Icon Real Estate Leasing and Management, LLC. The company will focus on leasing and management services for shopping center owners as well as representing retail tenants seeking space in local, regional and national market. Fraser joins Joseph Chang, who is also a principal of Icon Real Estate Leasing and Management. Chang in addition will continue as president of the affiliated Icon Real Estate Corporation, a real estate investment and development company. Fraser was most recently with Oak Brook-based Edgemark Commercial Real Estate Services, LLC.
Architecture and Construction
MRSA Architects and Planners announced today that the Building Owners and Managers Association of Chicago offices, a 5k-SF space, achieved Silver level certification in LEED-CI. MRSA's Maureen Ford and Kristen Ward, orchestrated the retrofit at 115 South LaSalle Street in downtown Chicago.
IRED Elmhurst, L.L.C., will celebrate the opening of Elmhurst Pointe, 111 West Third St, a 32-unit, independent senior living community in downtown Elmhurst. The grand opening will take place on Wednesday, September 23 from 1pm-6:pm. Its downtown location promotes a healthy walkable lifestyle, offering residents convenient access to nearby restaurants, banks, shops, and the Metra.
Murray National Construction Company, Inc completed a 24k-SF tenant build-out for Norandex at 1110 Commerce Drive on behalf of David Matheis of Capital Realty & Development. Murray's Joe Pomerenke was the project executive with Chris Niedhammer as the lead Project Manager. Eggersdorfer Architects provided the architectural services. NAI Hiffman's Mark Moran and John Whitehead represented the building and JLL's Margaret T. Rabal and Kurt Sarbaugh repped the tenant.
Lacava Design, a luxury bathroom design and manufacturing firm, has purchased the 80k-SF facility at 6630 W. Wrightwood Ave. in Chicago from Chicago Steel Rule & Die. Paine/Wetzel-ONCOR International's Michael D. Nelson and Mark A. Nelson represented both Lacava Design and Chicago Steel Rule & Die.
Gully Truck Leasing completed the acquisition of an 8k-SF truck terminal on 3 acres, including a 4.5 acre parcel of undeveloped land, a move that allows the company to expand its operations to the Chicago metro area. The property is at 300 Earl Road in Shorewood. Podolsky Northstar CORFAC International's Corey Chase represented Gully Truck Leasing. The seller was BMW Venture LLC, a private investor. Darwin Realty's Rick Daly represented the seller.