The Deal Sheet
| The Missner Group completed renovations to an 800k SF distribution/warehouse facility used by drink business operator Diageo in Bolingbrook. | |
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| The building, 1704 Remington Blvd, features a 30’ clear height, 150 dock positions, and the capacity to store three million cases of liquor. The Missner Group's Glen Missner oversaw the project while the firm’s Jess Knigge led construction efforts. Harris Architects provided the architectural services. | |
Sales News *** Jefferson Pilot Investments sold Southpoint II, one of five buildings in the Chicago market it acquired through foreclosure in 2010. Podolsky Northstar CORFAC International represented Jefferson Pilot in the $3.2M transaction. Exeter Property Group acquired the 101k SF building at 8451 W 183rd in Tinley Park as its first Chicago-area property. *** | |
The Boulder Group completed the sale of a single-tenant net-leased PNC Bank property located at 5745 Northwest Hay in Crystal Lake for $2.7M. The 3,216 SF building is fully leased on a long-term basis to the investment-grade rated bank. The Boulder Group's Randy Blankenstein and Jimmy Goodman repped the buyer and the seller.
*** Titan Commercial's Ben Rosenfield and Ryan Clay, represented MRR Special Assets in the off-market disposition of 2941 N Clark, which sold for $1.3M. The vacant 7,900 SF building was sold to Cimpar Investments who facilitated the sale through obtaining a SBA loan from Chase bank. MRR got the property through the acquisition of a portfolio of notes in November 2010. The site, previously a Buca di Beppo restaurant, will be redeveloped into a medical office. Leasing News *** Bankers Life & Casualty Insurance Co signed an 11.5-year lease for 135k SF (four floors) at 111 E Wacker Dr. CBRE's Lisa Konieczka repped Bankers. JF McKinney's Brian Whiting and Jack McKinney, Jr repped the owner Parkway Properties, along with its in-house rep Jay Buckley. The new lease required an early termination of the current HCSC lease. JLL's Craig McKesson repped HCSC. *** Paine/Wetzel · ONCOR International completed four industrial lease transactions totaling 115k SF in the Chicago area:
*** Sleep Innovations, a market leader in designing and manufacturing advanced foam sleep solution products, completed a 67k SF expansion of its operations in West Chicago. Brown Commercial Group's Gay Crain repped the tenant. Cabot Properties, the landlord, was self-represented. *** Studley's Lisa Davidson and Tiffany Winne completed two lease transactions totaling 50k SF in the Chicago CBD. They are a 25k SF lease renewal at 333 W Wacker Dr on behalf of Sanchez, Daniels & Hoffman on the fifth floor (landlord repped by Hines' Patrick Philbin) and a 25k SF relocation on behalf of The Chicago Community Trust to 225 North Michigan Ave (MBRES's Mark Buth and Kathleen Bertrand repped the landlord). *** Ampac has leased 105k SF at 825 Turnberry Court in Hanover Park. Cushman & Wakefield's Britt Casey represented Ampac in the 12-year lease, along with C&W Alliance Cincinnati's Si Pitstick, Lee & Associates' Ken Franzese and John Cassidy represented the landlord, Northern Builders. *** Mid-America is the exclusive leasing rep for three plazas with newly signed leases. Regency Plaza in Palatine recently signed a lease for 6,422 SF for W Kim Tae Kwon Do (repped by Mid-America's Jeff Kuchman). Lake Zurich's Lakeview Plaza signed a 1,960 SF lease for Yin Yang Pilates, which was repped by Mid-America's Susan Russell. At Grandview Court in Waukegan, Zip Fitness signed for an additional 1,107 SF, expanding from is existing 15k SF. Transwestern's Patrick Owens repped the tenant. *** Titan Commercial's Ryan Clay represented tenant Orchards I LLC in the leasing of 4,600 SF of retail and 3,000 SF of patio space at 688 N Milwaukee. The tenant will launch the first of several Urban Orchards, an upscale boutique grocery store. 688 Milwaukee Ventures Inc owns the 37k SF mixed-use building, which was renovated in 2007. Executive Moves *** Matthew Gworek has joined Cushman & Wakefield as senior managing director of capital markets and US Eastern region leader. He joins from Reunion Office Partners, where he was a principal. Matthew will be responsible for overseeing all of the firm’s investment sales, debt and equity finance and investment banking activities in the eastern half of the US. He holds an MBA from the University of North Carolina, Chapel Hill, and a bachelor’s from Trinity College. *** Daniel Foster has joined Newmark Knight Frank Global Corporate Services as senior managing director, consulting. He brings more than 18 years of experience managing corporate site selection engagements, business incentives projects, and economic development consulting assignments. Prior to joining Newmark, Daniel was a director in Duff and Phelp’s global business incentives advisory practice based in Detroit. He holds a BA in economics from Hope College and an MBA from the University of Michigan in Ann Arbor. *** Adam Simon has joined Grubb & Ellis Co as VP, private capital markets. He brings more than six years of experience in investment sales, specializing in multifamily and mixed-use properties. While leading the Simon Group, which he founded in 2008, Adam provided disposition advisory services, third-party acquisitions, equity placement, and structured financing for investment clients throughout the Midwest. He earned his MBA from DePaul University and bachelor’s degree from Wake Forest University. *** Christopher Liu has joined HOK as VP and design director for the interiors practice. He succeeds former director Tom Polucci, who has been appointed to head HOK’s interiors team in New York. *** Julie Ford is joining CB Richard Ellis's project management group as a director. She will be assisting in identifying and working with regional healthcare institutions to provide high-quality project management solutions. Previously, she served as principal of Proteus Group. She completed her bachelor's degree in interior design from the University of Illinois at Urbana-Champaign. *** Paul Eleftheriou has joined Podolsky Northstar CORFAC International as SVP in the firm's brokerage division. He brings 20 years of experience in commercial real estate and finance. Most recently he was a principal at MLJ Realty Group in Cary. Clients that Paul has successfully represented include Northwestern University, University of Chicago, ABC/Disney, Bank of America, and Farmers Insurance. *** Hiloh Izumo has joined Paine/Wetzel·ONCOR International as VP. He brings over 20 years experience in commercial real estate and was previously a first VP with CB Richard Ellis, where he specialized in the sales and leasing of commercial/industrial properties. He earned his BA at Osaka University of Foreign Studies. *** Steve Callen has joined OM Workspace as director of strategic accounts in the Midwest. Steve will cover the central territory from our Lombard office focusing on national accounts. Steve has extensive professional experience in the market, primarily through employment with Brook Furniture Rental and Cort Business Services. Construction News *** Principle Construction Corp completed a 27k SF office renovation for Magellan Corp at 1650 Lake Cook Rd in Deerfield. The build-out included an open office concept with perimeter offices surrounding a trading room. A new custom millwork boardroom was constructed with granite features, glass walls and IT communication systems. The new Deerfield location will include Hudson Shipping Lines and Maritime Brokers & Consultants. Principle's Raul Alvarez served as project manager and Mark Frane served as superintendent . Wright Heerema Architects provided architectural services. *** DeLauter Development completed a project for MJM Revival. It built out the 4,000 SF Bikram Yoga (South Loop) located at 47 W Polk St in Chicago. The architect was Ridgeland & Associates. ***
*** Morgan/Harbour Construction completed a 48k SF interior build-out for TricorBraun at 2175 Internationale Pkwy in Woodridge. The renovation of the interior of the warehousing facility included 6,000 SF of office space, 32’ clear heights and nine docks. Morgan/Harbour's Warren Seil was the project executive and Cornerstone Architects provided the architectural services. *** The Missner Group is completing a $2M expansion on behalf of Berkshire Refrigerated Warehouse. The warehouse facility is located at 4550 S Packers Ave in Chicago. Constructed of structural steel and insulated metal wall panels, the new construction will feature a 3,000 SF USDA boxing room, 11 new dock positions, and a 3,000 SF office mezzanine. The Missner Group's Glen Missner is the principal overseeing the project on behalf of The Missner Group's Drue Stoehr is the firm’s project manager. Cornerstone Architects is providing the architectural services. *** Reed Construction has completed a 20k SF office build-out for LKQ Corp within the Citigroup Center at 500 W Madison in Chicago. The interior build-out included high-end millwork, custom architectural metal paneling, and glass and wood panel walls for private and open office areas, conference rooms, and a reception space. Reed's Bryan Kreuger was the project executive and Jason Gunderson was the project manager. The architectural services were provided by Eastlake Studio. |
