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THE DEAL SHEET

WASHINGTON DC 02.23.2017

HOWARD COUNTY BOOM!

Major Projects, an Office Outlook, and a Multifamily & Retail Update

Kevin McAndrews -- Atapco Properties
Allan Kittleman -- Howard County
Christopher Leinberger -- George Washington University

Construction and Architecture

Horn Design  Group recently completed construction on a 37k-SF space for Clark Hill PLC at 150 N. Michigan Ave., floors 26-27. Advocate Realty Advisors' Craig Braham and Bob Palffy co-brokered the deal. Bob was with US Equities at deal time. Pepper Construction  served as the general contractor and ACRE Project Management's Mickey Archambault was the project manager.

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Marquette University and Opus North Corporation broke ground on the new five-story, 115k-SF engineering facility called the Discovery Learning Complex. Opus North Corporation is the design-builder in tandem with Opus Architects & Engineers as the designer and architect of record.  Hammel Green & Abrahamson collaborated with Opus on the design. The new $35 million building is the first phase of a $100 million, 250k-SF facility, and is expected to be ready for occupancy by August 2011.

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Magellan Development Group broke ground on a 105k-SF retail center at the southwest corner of the 28-acre Lakeshore East mixed-use development rising just northeast of Millennium Park near the confluence of the Chicago River and Lake Michigan. The three-story Village Market Center  will house an eclectic group of tenants anchored by a 55k-SF bi-level Roundy’s Supermarket.  Designed for LEED Silver, the contemporary Village Market will include a green roof, outdoor café, and pedestrian promenades that reflect the architecture of the area.

People

Paul N. Buckingham  has joined  Grubb & Ellis Company as SVP, Office Group. Paul will provide tenant rep services for clients in the North, Northwest, and O'Hare submarkets. He was most recently an SVP with CB Richard Ellis. He received his M.B.A. from  DePaul and bachelor's from the University of Iowa.

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Britt Casey  has been promoted from senior director to executive director at Cushman & Wakefield.  Britt joined CushWake in 2002. In ‘08, he was the #1 overall producer for both CushWake Chicago offices and was among the firm’s top 25 producers nationally. Throughout his career, he’s focused on the North DuPage County and O’Hare submarkets. Britt is a member of AIRE and CCIM and is a graduate of Loyola University Chicago Business School.

Leasing

Peerless Industries  has signed a long-term lease for a 308k-SF building at 2300 White Oak Circle in Aurora where it will consolidate its international operations. Cushman & Wakefield's Jason West,Sean Henrick,  and Michael Magliano repped the building’s owner,Northern Builders, Inc. This is the second building of 300k SF or larger leased by the West team in the last six months. NAI Hiffman's Larry Goldwasser and Jay Maher represented Peerless Industries.

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CoreLink Data Centers  has signed a long-term lease for an 82k-SF flex building at 800 Business Center Drive in Mt. Prospect. Cushman & Wakefield's Ned FrankeAlex Smith, and Jordan Rovito represented the building’s owner, First Industrial Realty Trust, Inc. CB Richard Ellis' Chad Freese  and David Saad  represented the tenant. CoreLink will modify the existing infrastructure to bring it up to their typical 2N configuration with roughly 200 watts/SF of usable UPS power.

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Keystone Property Group recently completed two office lease transactions in the Chicago submarkets, totaling nearly 430k-SF.

  • 65k-SF  new lease with  Nicor National at East West Corporate Center  in Naperville.  Colliers Bennett & Kahnweiler's  David Kahnweiler  and  Brian Kling  represented Nicor National. Jones Lang LaSalle's John ClarkJamey Dix, and Jeff Shay represented Keystone Property Group.
  • 45k-SF with Protective Life Insurance in Bannockburn Lake Office Plaza. Studley's Clark Dean represented Protective Life Corporation. CBRE’s J ack Reardon and Adam Showalter represented Keystone Property Group.

 

Company News and Awards

Ted Moudis Associates won two architectural design awards for its clients, Société Générale and Cottingham & Butler. Both projects received Awards of Merit by Midwest Construction magazine.

Société Générale, a global investment banking firm, was awarded the Interior Design/Tenant Improvement category for their new Chicago offices. The Cottingham & Butler project won in the Renovation/Restoration category for their new office in Dubuque, Iowa. The creation of contrasting visuals between the art deco flavor of the reception area and the more contemporary dark walnut workstation panels and frameless glass, allows the interior to bridge the gap between the historic exterior and the new interior.

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The Association of Industrial Real Estate Brokers inducted six new members and one associate member at its most recent luncheon at the Rosewood Restaurant. Active members inducted were: UGL Equis' Tim Cahill, Grubb & Ellis’ Samuel Durkin, Darwin Realty’s Brian Gedvilas, Jones Lang LaSalle's Kurt Sarbaugh and Robin Stolberg, and Adam Tarantur. The associate member inducted was Village Bank & Trust.  AIRE President Matt Rogatz presented Colliers Bennett & Kahnweiler's Lynn Reich with an honorary lifetime membership. Reich has been an active member of AIRE for more than 25 years and has served the association in various capacities, including president in 1989. A special President’s Award was presented to McShane Cos.' Sheri Tantari.

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The US Environmental Protection Agency  awarded Transwestern a 2010 ENERGY STAR Sustained Excellence Award in recognition of its continued leadership and commitment to operate buildings efficiently, create value for clients through a reduction in operating expenses, minimize waste and reduce its carbon footprint.

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Leopardo was recently honored as a recipient of the 2010 Communitas Leadership Award  for corporate social responsibility and community service. According to the judges from the Association of Marketing and Communication Professionals, Leopardo clearly exhibited the spirit of communitas, a Latin word that means people coming together for the good of a community. Leopardo was the only Illinois recipient and the only general contractor to win.