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 The Deal Sheet

One of Bisnow's 2013 Hippest Hotels has a new GM with an international background on both land and sea.

Ryan Kingston

Scottish-born Ryan Kingston was named GM for theWit, Hilton's four-year-old experiment with a hip hotel brand at 201 N State St. He will manage a team of 364 employees for the 310-room hotel. Just one week on the job but a longtime Hilton vet, Ryan tells us Chicago's summer hotel season has been strong (despite subpar weather). He's also got an eye on Chicago's 3,000 keys in the pipeline, adding that more product in the Loop is typically a benefit, revitalizing local business. Ryan's happy to have both feet back on dry land: he most recently served as managing hotel director for Celebrity Cruises, typically spending four months on ships then two months off (he's just back from Australia and New Zealand, with stops in French Polynesia, Hawaii, and Alaska).

SALES

322 Exterior_new

Urban Innovations paid $14M for two office buildings in Greektown totaling 150k SF, as a value-add investment. The company previously owned the properties, 60k SF 833 W Jackson and 90k SF 322 S Green, and sold them in 2005 to private investors. Since closing, Urban Innovations has signed 13k SF of new leases and renewals, raising occupancy to 76%. Urban Innovations leasing director Aaron Zaretsky repped the company in the sale and CBRE's John Slivka repped the seller, Wells Fargo.

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Plaza173

A JV fund formed by Innovative Capital Advisors and HSA Commercial Real Estate paid $7.6M for the 92k SF Plaza 173 shopping center at the NW corner of Bluemound Road and Calhoun Road in Brookfield, Wis. Sold at auction, the power center is partially occupied by Dunham's Sports, Men's Wearhouse, and Famous Footwear.

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Urban Innovations paid $3M for 84-unit Prairie View Apartments, an affordable senior housing community at 3500 Georgina Ln in Bellwood. The company plans to refi the property and perform a major rehab in the next 12 to 18 months. The property was developed in 1998 by the Stough Group, the seller.

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InSite Real Estate Investments, developer for national childcare center The Gardner School, paid $2M for a 16k SF parcel at the NE corner of North Avenue and Marshfield Avenue in Bucktown. Baum Realty Group associate Jonathan Feld repped InSite and The Gardner School; the deal closed in April.

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The Jewish Council for Youth Services purchased a 9,600 SF building and 3,150 SF adjacent lot at 2129 W North Ave in Bucktown from Thomas S Shure. Baum Realty Group VPs Will Crowden and Doug Renner repped the seller; Cresa Chicago VP Liz Roberts and managing partner Allen Rogoway repped the buyer. JCYS plans to potentially renovate and remodel the space, which will be an additional Family Center location and the permanent home of the Michael R Lutz Family Center.

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Inland Real Estate Brokerage & Auctions closed several properties in May: executive broker associate Heather Devermann repped the seller in the $1.3M sale of 1211 N Bridge St in Yorkville, a 16-lane bowling alley and fully-leased 3,600 SF strip center; VP Richard Kehoe Sr, and broker Robert Wall Sr, repped the seller, Weinfield Properties, in the $309k sale of a 13k SF property at 1313 Sibley Blvd in Dolton to Akpevwe Olidge; and president Paul Rogers and Richard repped the bank seller in the sale of 9,500 SF Neltnor Plaza, a retail/commercial strip in West Chicago.

LEASING

Arthur J Rogers & Co's Jeanne Rogers repped DHL in a 459k SF lease renewal at 10601 Seymour in Franklin Park. DHL chose to stay near the O'Hare cargo entrance due to the business advantages provided by the proximity of the airport. Building ownership, CenterPoint Properties, was repped by CenterPoint's Kit Sultz.

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H&K International signed a 116k SF lease at Prairie Point West Business Park in Aurora. The company plans to use the space as a warehouse and design and testing center for their products, stainless steel kitchen equipment. The deal brings Building A of the 988k SF business park to 100% leased (HH Gregg occupies the rest of the building and FHP occupies the other space in the park). CBRE's Nathan Lawrence and Chris Zubel repped H&K; CBRE's Kirk Armor and David Prell repped landlord IDI.

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calumet business center

Ashley Capital leased 83k SF of industrial space to Grand Warehouse Logistics Corp at 1401-1505 E 96th St in the 2.2M SF Calumet Business Center. The public warehouse and distribution center chose the facility to service clients operating within the business center. NAI Hiffman VP Chris Gary repped Ashley Capital.

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Building owner and manager The Missner Group completed a 50k SF lease renewal for Dowin Enterprises at 1120 Exchange Dr. The US factory branch for China-based Dowin Plastic Production Co plans to expand by an additional 38k SF in August 2015 to occupy the entire facility. Both parties were self-represented in the renewal and expansion.

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NAI Hiffman's Dan O'Neill, Steve Connolly, and Jeff Fischer repped Bridge Development Partners in two lease renewals totaling 15k SF of office space at 501 W Lake St in Elmhurst. Anderson Pest Control renewed its 9,829 SF lease and Patterson Medical renewed its 5,074 SF lease. Cresa's Tim Carlson repped Patterson Medical.

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@properties Commercial senior brokers Michael Weber and Ian Feinerman repped Burger Boss in a 10-year lease for 1,812 SF at 3208-3210 N Southport Ave in Lakeview. The second location for the Elmwood Park-based restaurant will open in September.

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Orange Leaf Yogurt signed a 10-year lease for 2,236 SF at 950 Green Bay Rd in Winnetka. @properties Commercial senior consultant Rebecca Lundstrom and senior commercial specialist Mike Levin repped the building owner, 950 Green Bay Road LLP; Patel Realty's Jesal Patel repped the tenant.

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Red Robin

Lee & Associates of Illinois director of retail brokerage Rick Scardino repped Red Robin in four leases in Illinois: 5,710 SF in the Harlem and Irving Plaza in Norridge (Harlem Irving Cos' Fred Murray repped ownership); 5,901 SF in Oakbrook Center Mall in Oak Brook (Randy Guse repped ownership); 4,001 SF at West Washington Street and Altorfer Lane in East Peoria (Cullinan Properties' Kathleen Cullinan repped ownership); and 5,735 SF at 2881 S Veterans Pkwy in Springfield (Quattro Development's Mike Liyeos repped ownership).

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@properties Commercial senior broker Larry Cohn and associate broker Michael Gaffney repped both sides in a three-year lease for 725 SF at 432 E Grand Ave in Streeterville for Kinship Chicago, a dog day care, grooming, and boarding facility. The 461k SF building is owned by the Habitat Co.

FINANCING

Cushman & Wakefield's Chuck Hoagand Jeffrey Cohen arranged $14.5M of senior mortgage financing for the Crossroads of America Distribution Center Portfolio on behalf of Gramercy Property Trust. The portfolio: two industrial properties totaling 540k SF located in Mt. Comfort and Greenwood, Ind.

CONSTRUCTION & DEVELOPMENT

JC Anderson completed a 415k SF restacking and renovation on behalf of Commonwealth Edison within buildings two and three of the Lincoln Center near Butterfield Road in Oakbrook Terrace. JLL and HOK provided construction management and architectural services.

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Opus Design Build LLC has been awarded a contract from Cook County to design and build-out their interior space in the Cicero Business Center. The improvements to the 261k SF building, expected to be complete in December, will consist of an office and records storage area accommodating 75 employees.

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Frederick Quinn Corp participated in a dedication ceremony for Gurnee School District 56's new 90k SF Prairie Trail School. FQC provided construction management services and helped pass a referendum to fund the $20M project. Students were transferred to the new building in January.

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Morgan/Harbour Construction completed two build-outs for Associated Bank in Elgin. The company completed a bank lobby renovation and remodel at 2001 Larkin Ave and a similar lobby renovation at 16 N Spring St. Rinka/Chung Architecture provided architectural services.

EXECUTIVE MOVES

Thomas Kafkes joined Summit Design + Build as director of business development, a newly formed position. A 30-year industry vet, Tom has completed 300 projects totaling over 27M SF and valued in excess of $2.3B. He has worked at firms such as Joseph Freed and Associates, Hiffman Shaffer Associates, and Vantage/Bradford Cos.

AWARDS

Sperry Van Ness Chicago Commercial managing director Scott Maesel was honored with the Good Neighbor Award from the Chicago Association of Realtors for the redevelopment of 935 W Randolph St in the West Loop. The former meat packing building is today home to Floyd's Barbershop, shared office space, and a high-end residential unit.

Calling all sports fans--send us pics of you supporting your Hawks! marissa.oberlander@bisnow.com