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The Deal Sheet
Jones Lang LaSalle’s capital markets group has been hired to market 909 Davis St in Evanston for sale. The 195k SF, six-story building rests between both a Metra and an L stop.
 
909 W Davis

Leading the JLL team are Jim Postweiler, Bruce MillerJascint Vukelich, and  Nooshin Felsenthal. The property is 95% leased and was built in 2002. It includes 12k SF of retail in the portion that is not for sale.

 

Awards 

McShane Construction Co received two Safety Recognition Awards from the Associated General Contractors of America. McShane Construction was recognized for its ability to achieve a zero incident rate for 50,000 work hours and above. They also received a  Safety Recognition Award  from the Builders Association, the Chicago Chapter of AGC, in honor of the firm’s outstanding safety performance in 2010.

Leasing News 

Ropak Packaging has completed lease renewal transactions at two buildings it occupies in Elk Grove Village. Podolsky Northstar CORFAC International's Steven Tick and VOIT Real Estate Services' Steve Lane  repped the tenant in its renewal for 188k SF  at 1300 to 1350 Arthur Ave and 136k SF at 2350 Lively Blvd. KTR Capital Parnters' Marty Edmondson and Hamilton Partners' Tom Maher repped the landlords.

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Paine/Wetzel · ONCOR International completed five industrial lease transactions in Chicago and the suburbs.

  • Akira leased 11k SF at 1430 W Willow St to accommodate their new offices, design, and warehouse space. Paine/Wetzel's Albert Schulman represented the building owner, Elston Industrial Lofts. Jameson's Katie Whelan repped the tenant. 
  • MedEx Ambulance Services signed a lease for 17k SF at 1001 S Des Plaines Ave in Des Plaines. Paine/Wetzel's Rodger ChenoreTerence Lynch, and Jeff Girling represented the landlord, JP Morgan Chase and Podolsky Northstar CORFAC Internaional's Steven Tick and John Homsher  repped tenant. 
  • Also at 1001 S Des Plaines Ave, Central Building & Restoration leased 7,500 SF. Paine/Wetzel's Terence Lynch, and Jeff Girling represented the landlord, JPMorgan Chase, and Newmark Knight Frank Epic's Adam Schneiderman repped the tenant.
  • SERVPRO of Woodridge/Bolingbrook has leased  5,054 SF at 10204 Werch Dr in Woodridge. Paine/Wetzel's Brandon Wright repped the tenant. Cawley Chicago Commecial Real Estate's Terry Grapenthin and Caroline Sullivan repped owner Principal Global Investors. 
  • TCH International renewed its lease on 3,224 SF at 511 W Golf Rd in Arlington Heights. Paine/Wetzel's Hiloh Izumo represented the tenant Joseph Development's Karen Krisik repped the owner.

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Hospira has leased an 82k SF industrial building at 10616 82nd Ave in Pleasant Prairie, Wisc. Lee & Associates' Mike Prost  and Sergio Chapa represented building ownership, Towne Industrial, and Jones Lang LaSalle's Kurt Sarbaugh represented the tenant.

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Lee & Associates Jeff Janda and Jim Planey represented Specialty Moving Systems in its renewal of 80k SF at 120 Internationale Blvd in Glendale Heights. Jeff and Jim also represented building ownership, AMB Property Corp.

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Connexion leased 61k SF of space at 1700 Leider Lane in Buffalo Grove. Avison Young's  John Hauser represented the tenant. The building is part of the 500k SF Aptakisic Creek Corporate Park owned and developed by Bridge Development Partners and McMorgan & Co.

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HSA Commercial's Brad Borkowski represented  Best Warehousing & Transportation Center, in a 56k SF lease at 1801 Hawthorne Lane in West Chicago. CB Richard Ellis' David Prell and Kirk Armour repped ownership, DCT Industrial.

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Lee & Associates' Scott Anderson represented Midwest Terminal Services in the lease of 20k SF in Hammond, Ind., at the R&R Industrial Park. The building is crane-served and has dual rail service by both the Norfolk Southern and IHB railroads.

Sales News

Paine/Wetzel • ONCOR International's Edward WabickJerry Sullivan, and Brandon Wright represented  G&W Electric Co in its purchase of a 350k SF industrial building at 305 Crossroads Pkwy in Bolingbrook. Jerry also repped the seller, Prudential Real Estate Investors.

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Following a lease renewal by a division of ITW at 600 Knightsbridge Pkwy in Lincolnshire, the building was sold to CenterPoint Properties. The seller, 600 Knightsbridge LLC, is owned by the former owner of the EH Wachs Co  that has been operating out of the building and was purchased by ITW in 2008. The 61k SF building includes18k SF of office space. Avison Young's John Hauser repped the landlord in the EH Wachs lease renewal and building sale.

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Marcus & Millichap's Mark Myers brokered the sale of St. Ann’s Healthcare Center, a 119-bed seniors living facility in Chester, for $1.5M. The 1937 building was updated in 1976 and is close to several local hospitals.

Executive Moves


MB Real Estate has added three associates to its corporate services and tenant advisory group. Dave Fortosis, Jordan Mellovitz, and Doug Noble  will focus on new business development, as well as financial analysis, and market research. Dave, a graduate of Calvin College in Grand Rapids, came from Kimberly-Clark  where he was a financial analyst. Jordan, a graduate of University of Illinois at Urbana-Champaign, was a commercial real estate banking analyst for JP Morgan Chase. Doug, a graduate of University of Michigan-Dearborn, most recently helped lead new business development efforts for Mid-West Manufacturing Cos.

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Jeffrey Cardosi has joined  The Dobbins Group  as director of architecture/engineering. Jeffrey most recently worked for  Hutter Architects  and Jeffreys & Associates. As director of A/E at The Dobbins Group, Jeffrey is responsible for project management, construction documentation, consultant coordination, and quality control.

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David Kimball has been promoted from associate to assistant VP at MB Real Estate. David, who joined MB Real Estate in 2005, has recently represented HDI-Gerling America, University of Chicago, and Davis & Hosfield.

Constuction News

Reed Construction is building out 10k SF of office for Options Clearing Corp  at the UBS Tower, One N Wacker Dr. The project includes the demolition of an existing Tier 2 Data Center. The space will feature a new MEP infrastructure, open office furniture systems,private offices, wall coverings, and raised access flooring.

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Morgan/Harbour Construction Co  completed a renovation and expansion project for Kimco Realty Corp at 10600 Higgins Rd at the O’Hare Corporate Towers in Rosemont. The property is managed by  Lincoln Properties. The  5,568 SF project included an office expansion and corridor work for the REIT. Morgan/Harbour's Ben Warriner led the project and  Lorin Van Nest was the project manager for the firm. Vincent, Lynn & Lee provided the architectural services.

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Reed Construction  completed an  8,000 SF fitness center within the Marquette Building at 140 South Dearborn for the building owner, The MacArthur Foundation. The new fitness center features an executive level, a yoga studio, men’s and women’s locker rooms, free weights, universal weight machines, treadmills, and stationary bikes. Reed Construction’s Scott Pickands was the project executive and Christine Roche was the project manager overseeing construction. Architectural services were provided by Holabird & Root.

Finance News

LaSalle Investment Management  is targeting  $2B of property investment in 2011. The firm says it is looking to expand its real estate holdings in select key markets where it sees growth opportunities. This includes the Chicago metro area where LaSalle forecasts strong economic performance and above-average rent growth, particularly for warehouse, apartment, and retail properties. LaSalle recently expanded its investment in the metro area with the acquisition of industrial properties in Bensenville, Romeoville, and Forest View.