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THE DEAL SHEET

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THE DEAL SHEET
McShane Development Co completed construction of a single-story, 27k SF North, South, and Central American HQ for NSK America Corp located at 1800 Global Pkwy in the Huntington 90 business park in Hoffman Estates.
 
NSK America Corp
The HQ contains a  large showroom, private offices, conference rooms, open workstations, lunchroom, and customized repair and testing areas for NSK’s product line. The exterior is made of precast concrete panels and features an aesthetic 2,500 SF aluminum storefront and showroom. McShane and Ware Malcomb provided the design/build services for this build-to-suit assignment. McShane and MetLife Real Estate are the owners and developers of Huntington 90, the 70-acre business park with flexible build-to-suit sites available.

Leasing News

Paine/Wetzel • ONCOR International's Elise Couston repped Arrow Plastic Manufacturing Co in a 129k SF lease at 2521 to 2601 Allen Dr in Elk Grove Village. CB Richard Ellis' Pat McCourt and Chris Zukel repped the owner, Chancellery Business Park.

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TOYO INK America has expanded its local manufacturing capacity by signing a lease for a 108k SF facility in Wood Dale’s Chancellory Business Park at 1225 Michael Dr. NAI Hiffman's John Cash and David Haigh with WHITE CUBE's Tak O'Haru repped Toyo. CBRE's Chris Zubel and Pat McCourt repped the landlord, Heitman.

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CB Richard Ellis has extended and expanded several leases and signed some new tenants at 190 S LaSalle. CBRE's Jon Copeland and Ron Lakin represented the owner CB Richard Ellis Investors  in the following transactions:

  • XL Global Services signed a new expansion and extension for 23k SF. Cushman & Wakefield's Kent Ilhardt repped the tenant.
  • Madden, Jiganti, Moore & Sinars renewed its 6,864 SF lease. Colliers International's Richard Berger repped the tenant.
  • US Mainstream Renewable Power signed a new lease expansion for 3,613 SF. CBRE's Brad Serot  and Jon Milonas repped the tenant.
  • Lefevour, Spielfogel & Loeb  renewed its 3,002 SF lease. UGL Equis's Jordan Decker and Adam McCostlin repped the tenant.
  • Double Arch Financial Services signed a new lease for 2,753 SF. Cushman & Wakefield's Steven Bauer repped the tenant. 
  • Cohen Milstein Sellers & Toll  renewed its 2,654 SF lease. US Equities' Matt Dobry repped the tenant. 
  • Global Hunter Securities  signed a new lease for 1,961 SF. US Equities' Joe Davis repped the tenant.

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Paine/Wetzel · ONCOR International  has completed three industrial lease transactions in the northern suburbs of Chicago

  • The Visual Pak Cos has leased 32k SF at 3701 Burwood Dr in Waukegan. Paine/Wetzel's Whit Heitman  and Samuel Badger represented landlord Prudential Real Estate and were the sole brokers.
  • Worldmark USA has leased 25k SF at 1640 Northwind in Libertyville. Paine/Wetzel's Whit Heitman and Brad Weiner represented the tenant and CBRE's Ryan Bain repped owner Southwind Financial
  • Tablecraft Products Co has renewed its lease of 16k SF at 760 Lakeside Dr, within the Grand Tri State Park in Gurnee. The sole brokers in the transaction were Paine/Wetzel's Patricia Baldwin, and  Les Spinner.

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Sun Life Assurance Co of Canada has signed Centene Corp to a 23k SF lease at its 118k SF office asset at 999 Oakmont Plaza Dr in Westmont, bringing the building to 86% occupancy. NAI Hiffman's Patrick Kiefer repped Sun Life. Colliers International's Joe Dvorak and Cassidy Turley's Scott Bazoian repped Centene. NAI Hiffman also manages the property.

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Charming Charlie signed a lease for 8,650 SF and Sephora USA signed a 3,909 SF lease at Geneva Commons in Geneva. Mid-America Asset Management's Marget Graham repped the landlord in both transactions. Vernick & Associates' Kevin Vernick repped Charming Charlie. CBRE's Jim Sakanich repped Sephora.

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Ledcor Construction  and Creta Farms USA have signed leases totalling more than 11k SF at One Lincoln Center in Oakbrook Terrace. Jones Lang LaSalle’s Karla Harmon and Jamey Dix repped the owner, Arden Realty.  Ledcor will lease 7,937 SF and was repped by Perry Group's Joe Perry. Creta Farms USA is leasing 3,564 SF and was repped by NAI Hiffman's Garrett Schultz and James Adler.

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Chipotle Mexican Grill and Clearly Cares Dental have signed leases at Elston Plaza, Elston Avenue, Addison Street and Kedzie Avenue. Chipotle will take up 2,405 SF and was repped by Baum Realty's Adam Secher. Clearly Cares Dental will occupy 1,500 SF and was repped by Glenlake Capital Partners' Steve Kardel. Mid-America's Barb Kading and Jaime Platt repped the landlord in both transactions.

Sales News

CME Group  has hired Jones Lang LaSalle and  Holly Duran Real Estate Partners  to market the historic Chicago Board of Trade Building for sale. The property is composed of three buildings: the north, south and east buildings. The 1.4M SF north and south buildings are being offered as a partial sale-leaseback. CME Group will retain ownership of the 288k SF east building, including the financial product trading facilities and office space, and will enter into a long-term lease of the agricultural commodities trading facilities and certain office space in the north building. JLL's Bruce MillerJim Postweiler, Jascint Vukelich, and Nooshin Felsenthal, with Holly Duran Group's Holly Duran and Jeff Mulder will broker the sale.

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Newcastle Limited has acquired 426 W Belmont, a 13-story, 98-unit apartment building in Lakeview. The $10.5M all-cash purchase was made on behalf of the firm’s $500M Chicago real estate investment platform. The Kiser Group's Bill Baumann represented the seller.

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Paine/Wetzel · ONCOR International completed two industrial sales. Larsen Manufacturing has purchased a 57k SF industrial building at 1201 Allanson in Mundelein Paine/Wetzel's Whit Heitman repped the buyer. The seller, a private investor, was repped by Coldwell Banker CommercialThe Fun One also purchased a 15k SF industrial building located at 255 to 257 Commonwealth in Carol Stream. Paine/Wetzel's Elise Couston represented the seller,Chicago Properties. The buyer was repped by Rowlett Commercial Real Estate's Jeff Rowlett.

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Marcus & Millichap's Evan Halkias and Michael Marks  repped the seller of a 35k SF Harlem Furniture at 2471 Randall Rd in Algonquin. The asset sold for  $3.6M. Evan and Michael also repped the buyer, a private investor.

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Strauss Realty's Dale Strauss  represented the lender/owner in the sale of a 22k SF office asset at 4600 N Touhy Ave in Lincolnwood. The building includes a 75-car parking lot and was formerly the Gerber Plumbing corporate offices. This property was sold for $1.2M to an undisclosed buyer represented by Integra Properties'Abe Polatsek.

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Millennium Properties' Brad Thompson repped the bank seller of 301 S Halsted St in Chicago Heights for an undisclosed sum. OD Neal Realty Associates' Tiffany Bennett repped the buyer, a private party. The former Crystal Palace Lounge is across from Prairie State College.

Construction, Engineering and Design

Thornton Tomasetti  is the structural engineer of record for the new William Eckhardt Research Center at The University of Chicago, a $215M, 265k SF project located at the existing Research Institutes Building at 5630 to 5650 South Ellis Ave. Thornton Tomasetti's  Carol PostHelen Torres, and Lauren DiPalma will head up the assignment, which includes demolishing a low-temp building and Astronomy and Astrophysics Center and building, five stories of above-ground enclosed space and two stories below ground.

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Morgan / Harbour Construction has been selected to complete a 45k SF build-out on behalf of Hanger Orthopedic at 386 Internationale Dr in Bolingbrook. The property is a JV between owner/developers ML Realty Partners and HSA Commercial. Morgan/Harbour's Ben Warriner is the project executive and Robert Papineau is the project manager. Harris Architects is providing the architectural services.

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Reed Construction has completed a 5,000 SF interior build-out for Delnor Community Hospital  and has been selected for an additional 3,600 SF renovation at the Delnor Health & Wellness Center at 300 Randall Rd in Geneva. Allegro Architects provided the architectural services. Reed will complete a locker room renovation at the Delnor Health and Wellness Center. Anderson Mikos Architects will provide architectural services.

Awards

Six N Michigan, the adaptive re-use and condo conversion of the Montgomery Ward  building across from Millennium Park, has won a 2011 Good Neighbor Award from the  Chicago Association of REALTORS. The historic condo building is more than 80% sold and has modern finishes and amenities. The developer is 6NM Developers and @properties is marketing the project.

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Jones Lang LaSalle’s chief diversity officer  Angela Roseboro, was recently named one of the “Top Executives in Diversity” in the US byBlack Enterprise magazine. Angela has more than 18 years of leadership experience driving best-in-class human resource, diversity and engagement action plans and platforms for global Fortune 500 companies. Before joining JLL in 2010, she was the VP of global diversity and employee engagement for Genworth Financial and, prior to that, was the corporate director of global diversity for Whirlpool.

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Ryan Cos US and Ryan Cos' Lynn Treat have been named Contractor of the Year by the The Coalition for United Community Action-ORTC. The award commemorates Lynn’s minority outreach efforts as Ryan’s director of field operations and as the past chairman of the Builders Association of Chicago board of directors, as well as Ryan’s commitment to minorities’ and women’s economic opportunities and workforce diversity initiatives.

Finance News

Beech Street Capital has provided $6.5M  in Fannie Mae small loans to refinance two portfolios consisting of eight properties in Rogers Park. The transaction was originated by Meridian Capital Group's Gershon Friedman and was financed by Beech Street Capital as part of its correspondent relationship with Meridian. The first portfolio totaled 57 units in three properties, while the second totaled 84 units in five properties. Beech Street's Amy Sodeinde and Joel Goodman were underwriters and Lisa Pierotti was the closer. 

Executive Moves

NAI Hiffman’s chairman Dennis Hiffman announced that David Petersen, COO of NAI Hiffman will assume the role of CEO of the parent company effective July 1, while continuing to serve as head of its asset management division. He will succeed Hiffman who has served as both chairman and CEO since  founding the company in 2000. David has held the role of CEO of the asset management group since 2006, assuming the additional role of chief operating officer of NAI Hiffman in 2008. Prior to joining NAI Hiffman, David spent his 25-year career in a wide range of management, development, and operations positions.

Related Topics: CBRE, JLL, Meridian Capital Group, HSA Commercial, Jordan Decker, Reed Construction, Adam Secher, Harris Architects, Prudential Financial, Rogers Park, Thornton Tomasetti, US Equities, Ledcor Construction, Bruce Miller, Ryan Cos US, charming charlie, Brad Serot, Elise Couston, Whit Heitman, Brad Weiner, Ryan Bain, Jon Milonas, Arden Realty, Coldwell Banker, Bill Baumann, ML Realty Partners, Beech Street Capital, Carol Stream, Harbour Construction, Hoffman Estates, Millennium Properties, America Asset Management, Wood Dale, Ryan Cos, Ben Warriner, Chicago Association, Oakbrook Terrace, Ware Malcomb, Sun Life, Beech Street, Chris Zubel, Baum Realty, Chicago Properties, Samuel Badger, Chipotle Mexican Grill, Michael Marks, Steven Bauer, Chicago Board, Sun Life Assurance Co, Evan Halkias, Brad Thompson, Builders Association, White Cube, Patrick Kiefer, Wellness Center, Chicago Heights, Jim Postweiler, Karla Harmon, Pat McCourt, Adam McCostlin, Newcastle Limited, Jim Sakanich, Trade Building, Strauss Realty, Ron Lakin, Montgomery Ward, Garrett Schultz, Plaza Dr, Robert Papineau, John Cash, Marget Graham, David Haigh, Barb Kading, Les Spinner, James Adler, Lynn Treat, The Kiser Group, Jaime Platt, Centene Corp, Scott Bazoian, CME Group, Holly Duran, Genworth Financial, The Coalition, Good Neighbor Award, Anderson Mikos Architects, Chancellory Business Park, Jon Copeland, Dennis Hiffman, Geneva Commons, Dale Strauss, Holly Duran Real Estate Partners, Elston Avenue, Kent Ilhardt, The Visual Pak Cos, Jeff Mulder, Joel Goodman, Amy Sodeinde, One Lincoln Center, Lisa Pierotti, Gershon Friedman, David Petersen, SF North, NSK America Corp, Richard Berger, Cohen Milstein Sellers, Joe Davis, Burwood Dr, Patricia Baldwin, Joe Dvorak, Creta Farms USA, Perry Group, Joe Perry, Clearly Cares Dental, Kedzie Avenue, Helen Torres, Hanger Orthopedic, Delnor Health, 613 SF, 654 SF, 961 SF, McShane