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THE DEAL SHEET

WASHINGTON DC 04.27.2017

FEDERAL MARKETS & REAL PROPERTIES

A New President & GSA: What Does That Mean For You?

Norman Dong -- U.S. General Services Administration (GSA)
Tom Finan -- Trammell Crow Company
Bruce Childs -- USAA Real Estate
THE DEAL SHEET
Clarke's Diner

Clarke'sa 24-hour dinerhas signed a lease for  4,000 SF  at 1451 E 53rd St in Hyde Park.  The building was purchased by the  University of Chicago  earlier this month, and the remaining space there is occupied by T-MobileHSA Commercial  and the University of Chicago have already announced that Five Guys and The New 400 Theaters will be located nearby. HSA's Kelsey Blindt and Michael Havdala repped ownership and Moon LLC's Dan Moon repped Clarke’s Diner.

 

Sales News

CB Richard Ellis's Keely Polczynski repped seller Commercial Management Co in the sale of Belden Centre (2301 to 15 N Clark St). A JV of ACG Equities and Purinton Development's Jim Purinton purchased the property for an undisclosed price. The 51k SF, two-story retail center includes 76 parking spaces and is  21% leased

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Syndicated Equities' Isaac Metzger repped both sides in the sale of a 13k SF Walgreens drugstore at 5753 N Canfield Rd for $4.7M.Higgins & Canfield was the seller and an institutional investor was the buyer.

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Millenium Properties' Brad Thompson  sold 4030-34 N Milwaukee Ave in Portage Park community for $385kSabovic Management purchased the mixed-use building from the Wolcott Group in an all-cash deal for 96% of the asking price. Brad repped both sides of the deal. Karm and Patterson's Howard Karm  served as counsel for the buyer and Much Shelist's Courtney Mayster repped the seller. The 10k SF building consists of three storefronts and five apartment units.

Leasing News

Whole Foods  leased 30k SF of ground floor retail space at the southwest corner of  51st and Lake Park in Hyde Park neighborhood. The project will have both retail and residential components. Baum Realty's Doug Renner and Steve Schwartz and Newmark Knight Frank's Bill Selonick repped the landlord, Antheus Capital. Midwest Commercial Realty's Scott Stefanik  repped Whole Foods.

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The Chicago Community Trust will be moving its HQ to 24k SF Michigan Plaza (205/225 N Michigan Ave). The 95-year-old community foundation will be relocating from 111 East Wacker Dr to join other nonprofits like The McCormick Foundation, Alzheimer’s Association,  and American Cancer Society. MB Real Estate's Mark Buth and Kathleen Bertrand repped ownership. Studley's Lisa Davidson and Tiffany Winne repped Chicago Community Trust.

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MB Real Estate's Ben Cleveland and Anne Knopke were named leasing representatives of a three-building portfolio along Wacker Drive in Chicago: The LaSalle Wacker, 55 West Wacker, and 205 West Wacker. Ben has completed more than 1M SF of commercial transactions in his career with MBRES, UGL Services and Newmark Knight Frank. Anne used to lease the Citigroup Center.

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CloudBlue Technologies is expanding its Chicago-area facility, increasing data capacity by 200%. The company will also add  60 employees to its Joliet operation, which does IT asset management,consumer electronics returns, and data destruction.

Finance News

Grosvenor Residential Investment Partners I refinanced a 121-unit for-sale  residential project in Hinsdale representing the fund’s first investment in the Chicago metro area. The fund provided a $9.3M loan to acquire the project and complete land development and vertical construction of  25 townhomes and 93 condos. The $100M fund is now  77%  invested.

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Cambridge Realty Capital Co  closed 10 seniors housing/ healthcare transactions totaling $103M  during Q1 in Illinois, Ohio, and California. The company also reports processing 54 loan origination requests totaling $976.1M for HUD refinancing, conventional refinancing, acquisitions, and new construction.

Executive Moves 

Patrick Sullivan  has joined the Chicago office of  HFF as managing director. He will launch the industrial investment sales/capital markets platform. Patrick joined from Converse Capital. He has closed industrial investment transactions totaling more than 34M SF with an aggregate value in excess of  $1.2B. He is a graduate of Illinois State University.

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Jerry Stout has joined the Chicago office of Ryan Cos as project manager. Jerry has worked in the healthcare, office, residential, and industrial segments of the industry and will manage the preconstruction and construction process for Ryan office, industrial, and healthcare projects in the Great Lakes region. He comes to Ryan from Johnson-Downs in Kankakee. He has a bachelor's degree from Arizona State University.

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Jan Fiola  has joined Caribou Coffee as senior real estate manager. She was previously with Bedford Cost Segregation and is president of the Chicago chapter of CREW. Jan will be securing new sites for the coffee retailer in Chicago and Denver.

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Cambridge Realty Capital Co's Jeffrey Davis has been appointed to the board of advisors for the James A. Graaskamp Center for Real Estate on the University of Wisconsin campus in Madison. 
Jeffrey is a 1976 graduate of the University of  Wisconsin with a Master’s degree in real estate finance.

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Bill Rose has been promoted to director of the national retail group at Marcus & Millichap. He has also served as a managing director at HFF and first started his tenure with Marcus & Millichap in 2003. He is a graduate of the University of Colorado

Construction News

Reed Construction completed the 45k SF build-out of Rush University Medical Center’s  Outpatient Cancer Center at 1725 W Harrison. Reed’s project team was led by Tom Schlueter  and Tom Scharnagle. The new center features an expanded chemotherapy area with individual treatment rooms, a triage area, integrative medicine programs, 15 consultation rooms, and nearly double the number of exam and procedure rooms. Loebl, Schlossman & Hackl provided the architectural services with Primera providing engineering services.

Giving Back

Electronic's recycling

Harris Corporate Real Estate and Jones Lang LaSalle teamed up for a community electronics event at 2000 S Finley Rd in Lombard last month. They gathered  7,600 pounds of computers, cell phones and A/V equipment to be recycled. The event was led by JLL's Cassey ArriagaTony SchwartzDonna Sjodin, and Janet Harczak.