The Deal Sheet
SALES
Kiser Group principal Lee Kiser and managing director Michael D’Agostino repped the seller in the $28.9M sale of an eight-building, 236-unit portfolio of apartment and mixed-use properties on the North Side to New York-based Pioneer Acquisitions. Family owned for more than 60 years, the portfolio included: an apartment building in West Rogers Park; an apartment building and mixed-use retail/apartment property (above) in Lincoln Square; four properties in Ravenswood; and a mixed-use retail/apartment building in Irving Park.
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NelsonHill’s Doug Hayes and Mark Nelson repped Wanxiang America Real Estate Group in the acquisition of the former APL Logistics facility at 2302 S Paulina. Wanxiang and Clarius Partners plan to build up to 400k SF of modern freezer, cooler, and warehouse product. Burr Tempkin’s David Lane repped the seller, American Presidents Lines.
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The Boulder Group completed the $7.3M sale of a single-tenant net-leased 17k SF Northwestern Memorial Hospital property (above) at 350 S Waukegan Rd in Deerfield. The property is fully leased to NMH with 14 years of lease term remaining. The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller, a local firm; the buyer was a high-net-worth California-based individual in a 1031 exchange.
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Mid-America Real Estate Corp’s investment sales team brokered the sale of Shadeland Station, a 105k SF grocery-anchored shopping center in Indianapolis, to New York-based Time Equities. Mid-America’s Joe Girardi and Rick Drogosz, in cooperation with Mid-America Real Estate-Indiana LLC, repped the seller, a JV between Tri-Land Developments and an affiliate of Equity Group Investments.
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Sperry Van Ness Chicago Commercial completed the $3.5M off-market sale of a 16-unit, 18k SF multifamily building (above) at 3505-07 N Pine Grove/546-58 W Cornelia Ave in Lakeview. SVN’s Dawn Overstreet and Reid Bennett repped the landlord.
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Crossroads Development Partners paid $1.2M (all cash) for 990 and 100 Grand Canyon Pkwy in Hoffman Estates. The seller was a subsidiary of Boston-based Admirals Bank, which took the properties back from a private owner in a 2012 foreclosure transaction. Totaling more than 53k SF, the buildings feature a variety of medical users; Crossroads plans capital improvements and an aggressive leasing campaign to stabilize the property.
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Sperry Van Ness Chicago Commercial completed the $1.1M sale of a 12-unit multifamily building at 5300 W Addison St in Portage Park. SVN’s Jack Edgar, Jr., Jim Sears, and Reid Bennett repped the seller of the 10k SF complex.
LEASING
Paine/Wetzel TCN Worldwide’s Jeff Girling and Terry Lynch, along with Cushman & Wakefield’s Brad Weiner, repped Kehoe Designs in a new 235k SF long-term lease, consolidating its four facilities into one large warehouse/office space at 2555 S Leavitt St (above). Kehoe plans to renovate the building into a new production facility, showroom space, and office HQ. C&W’s Larry Goldwasser and Colin Green repped the landlord, Mack Packaging.
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Mid-America Asset Management secured new retail leases on behalf of four NW suburban shopping centers: Big Blue Swim School leased 10k SF at 117k SF The Grove in Buffalo Grove (Mid-America VP Liz Krebs and leasing rep Samantha Spinell repped the landlord, NGKF’s Bill Selonick repped the tenant); Charlotte Russe inked a 5,693 SF lease at 579k SF Algonquin Commons in Algonquin (Mid-America principal/VP Marget Graham and Samantha repped the landlord); Sushi 5th leased 2,100 SF at 293k SF Arlington Plaza in Arlington Heights (Mid-America leasing rep Sarah Drumgould repped the landlord, US Asian Group’s David Chen repped the tenant); and Goodwill signed a 1,200 SF lease at 138k SF Regency Plaza in Palatine (Samantha and Mid-America leasing rep Angela Gasbarro repped the landlord, CBRE’s Carole Borg repped the tenant).
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ADVANTIS Global signed a long-term 5,000 SF lease on the 21st floor of 1 E Wacker Dr. Studley associate directors Scott Merz and Jack Gerber repped ADVANTIS; JLL repped ownership, AmTrust. ADVANTIS will have about 36 employees in the downtown Chicago office with another 200-plus contractors across the regional client base by the end of 2015.
FINANCING
Centerline Capital Group (led by Felicia Bell and John Sloot) provided a $3.3M Fannie Mae DUS loan to refi Fountainhead Apartments, 38-unit multifamily property at 1000 Pleasant St in Oak Park. The borrower is Fountain Head Apartments and investor Melvyn Kushner; the property is managed by Arthur Goldner & Associates.
CONSTRUCTION & DEVELOPMENT
Ryan Cos US completed a $14M, 90k SF medical and fitness facility in Menomonee Falls, Wis. for Froedtert & the Medical College of Wisconsin and the Wisconsin Athletic Club (WAC). WAC’s health and wellness center occupies a 48k SF space. Froedtert & the Medical College of Wisconsin’s Orthopaedic, Sports and Spine Center (OSSC) co-anchors the building in a two-story, 43k SF space. The Ryan team included: Jim McDonald, Hans Muecke, Nick Kaminski, Eric Abrams, Les Fialco, and Lisa Sefranek.
EXECUTIVE MOVES
Tom Callahan rejoined Podolsky|Circle CORFAC International as SVP in the firm’s brokerage division, specializing in both building and tenant representation. Tim Olivos, previously a senior analyst at Stifel Financial, joined the firm as an investment analyst specializing in acquisitions and investment sales. The company also added Kyle McKechnie, formerly an outside sales rep for WW Grainger, as an associate in the brokerage division, assisting Corey Chase with his tenant rep and municipal incentive practice.
BUSINESS
JLL has been hired as exclusive leasing agent for AmTrust’s 1.4M SF 135 S LaSalle and 900k SF 33 W Monroe office towers. With these new assignments, JLL is now the exclusive office leasing partner for New York-based AmTrust’s 2.9M SF Chicago portfolio, which also includes 580k SF 1 E Wacker Dr. JLL SVP Melissa Rubenstein and VP Mark Georgas will oversee leasing efforts at both 33 W Monroe and 135 S LaSalle; SVP Monica Moore and senior associate John Beason will continue to handle 1 E Wacker.
