Marcus & Millichap Real Estate Investment Services' Ryan Engle and Eric Bell arranged the $3.3M sale of the 71-unit 1265 Cunningham Dr apartment building in Calumet City.
Brennan Investment Group bought five vacant warehouses from Wisconsin-based
Oshkosh Defense, which was repped by Lee & Associates' Walter Murphy, and has secured a lease for half the portfolio from structured wood
products distributor US Glu-Lam.
Morgan Stanley bought 340k SF of 90% leased industrial (695, 2312, 2316, 2320, and 2324 Touhy Ave; 2445 and 2447 E Higgins Rd; and 2315-2317 Landmeier Rd) in Elk Grove Village, near O'Hare, from Gullo International. Newmark Grubb Knight Frank's Kenneth Szady repped both sides.
Opus Development Corp, repped by Colliers' Steve Disse and Jeff Devine, sold Cicero Business Center's 292k SF Building II industrial property to Cabot Properties. It's fully leased to Cloverhill Pastry-Vend.
Starwood Capital Group completed its acquisition of a 90% interest in seven Westfield Group shopping centers and formed Starwood Retail Partners (the CEO is Scott Wolstein), which will be based in Chicago. Among Starwood's new properties are Chicago Ridge Mall and Louis Joliet Mall.
Ed O’Brien, repped by Kudan Group's Adam Salamon, bought quick-service restaurant Ful at East Lakeview’s 3310 N Broadway. Kudan's Jarrett Fradin repped the seller. Ed plans a health-focused restaurant with smoothies and gluten-free goodies to open this month.
Kudan Group's Juan Carlos Gomez negotiated the sale of T-Spot Sushi & Tea Bar at 3925 N Lincoln Ave in North Center. Longfei Ling and Ben Liang plan to open Hanami this month.
|CONSTRUCTION & DEVELOPMENT|
|Englewood Construction's interiors team started four Chicago projects: remodeling early childhood development provider Bright Horizons' 6107 N River Rd in Rosemont and 325 Grand Ave, Noodles & Co's new space in Plaza at Chase Tower at 47 S Clark St (designed by Chipman Design), and TI work at Destination Maternity's 1 S 550 Route 83 in Oak Brook.|
|EXECUTIVE MOVES & BIZ NEWS|
|Michelle Needles joined Studley as a director in the strategic portfolio solutions group, working on multi-market transactions. The Chicago Marathon volunteer and training instructor comes from CBRE.|
Joseph Capra joined UGL Services as a capital markets financial analyst from FDIC. He's also worked for Barclays, KeyBank, and Northern Trust Bank.
***Interior design, architecture, engineering, strategies, workplace services, and information services firm Nelson and architecture and interior design firm Torchia Associates have merged. Frank Torchia will be managing principal, leading 60 local pros.