NelsonHill's Mark Nelson and Michael Nelson repped the sellers in four Q1 industrial deals:
Demolition contractor Nickelson Industrial Service bought a 17k SF industrual building at 10115 S Torrence Ave. Paine/Wetzel/TCN Worldwide's Edward Wabick and Albert Schulman repped the seller and were the sole brokers.
***Strauss Realty arranged the $1.6M sale of the newly built 2728 N Wayne Ave multifamily building in Lincoln Park.
Contract packaging solutions provider VPL Logistics leased 167k SF at 3600 Amhurst Pkwy in Prudential Financial's Amhurst Lake Business Park in Waukegan. Paine/Wetzel/TCN Worldwide's Whit Heitman, Sam Badger, and Bradley Weiner repped the landlord, and Whit also worked on behalf of VPL.
Home Products International renewed 330k SF in Midway Business Center at 5555 S Archer Ave. NelsonHill's Mark Nelson and Michael Nelson repped the owner, New Management, and Cushman & Wakefield's Sally Macoicz repped the tenant. Mark and Michael also repped the owner in Richwell Enterprises' 142k SF lease at Midway. Chicago Industrial Real Estate's Matt Rogatz repped Richwell.
Marketing agency Commonground, repped by MB Real Estate's Andy Davidson and Boris Yelyashov, leased 24k SF at 600 W Fulton St and will relocate from 1035 W Lake St in July. US Equities' Jeffrey Barron repped the landlord.
***Rue21 leased 5,800 SF in Brixmor's Tinley Park shopping center at Harlem Avenue and West 159th Street.
|CBRE Capital Markets' Tim Noonan, John Parrett, and Liz Henry secured $3M from a life company to refinance a 25k SF grocery-anchored shopping center at 3745 N Lincoln Ave.|
|CONSTRUCTION & DEVELOPMENT|
|McShane Construction broke ground on Essex Corp's 57-unit, 156k SF seniors housing project at 2220 Founders Dr in Northbrook, north of Willow Festival Shopping Center. The Society of The Divine Word owns the land. JSSH Architects designed the building, set to deliver in June '13.|
Principle Construction completed a 184k SF TI in Romeoville's 1075 W Taylor Rd in Pinnacle Business Center for AP Taylor Road LLC, converting the 444k SF single-tenant facility into a multi-tenant building. Craig Slinker was senior project manager and Doug Brucato was superintendent. JLL's Trevor Ragsdale was the broker, Glavan Feher Architects provided architectural services, and DW Management is the property manager.
Daveri Development Group's $13.2M Myers Place mixed-use supportive housing project has broken ground in Mount Prospect with 21
one-bedroom units, 18 furnished studio apartments, a state-funded
services program for residents, and 3,560 SF of
commercial space. UnitedHealthcare is providing $8M in LIHTC
through a $50M partnership
with Enterprise Community Investment.
Development Authority is providing $2M
in LIHTC, Enterprise
another $1.7M in LIHTC, Village Bank
& Trust $1M in construction financing, plus funds from the Department of Commerce & Economic Opportunity, Corporation for Supportive Housing, the Housing Authority of
the County of Cook, and the Regional Housing Initiative.
Reed Construction completed a 26k SF buildout at 111 N Canal for Braintree Payment Solutions, which relocated from 833 W Jackson. Bryan Kreuger was project executive and Steve Sandquist was project manager. Partners by Design did design work.
***Clarion Partners and project manager Colliers International selected The Missner Group for a 77k SF TI and office buildout at 1400 Algonquin Rd in Briarwood Business Center in Mount Prospect, to deliver in early summer. Jess Knigge is the project executive, Jack Sbertoli the project manager, and Bill Stransky the superintendent. Colliers' Melissa Powell is handling construction management and Harris Architects is doing design work.
|Bruce Granger joined NAI Hiffman as SVP in its industrial services group from Grubb & Ellis.|
REIT analyst vet Eden Levinson joined Harrison Street Securities as SVP from Duff & Phelps.
***Mark Katz joined HFF as a director, working on office investment sales in suburban Chicago. Previously, he worked for Gemstone Real Estate Partners, Colliers Bennett & Kahnweiler, JLL, and CBRE.