Construction News

Morgan / Harbour Construction Co has been selected by complete renovations to an existing 240k SF industrial building and a 14k SF building expansion for NTA Precision Axle Corp’s new facility at 795 Kimberly Dr in Carol Stream. The expansion will include the construction of forging press foundations, a heat-treatment area, private offices, and installation of overhead cranes. Morgan/Harbour's Ben Warriner is the project executive and Josh Peters is the project manager. James McCarron will serve as the site superintendent for the firm. Harris Architects is providing the architectural services and Jacob & Hefner  is the civil engineer.

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JC Anderson  has completed a 12k SF interior renovation at 8420 W Bryn Mawr for Fieldwork Chicago-O'Hare, which is relocating from the 6th floor to the 2nd floor. The build-out included five new meeting and viewing rooms with lounge areas that feature double-paned laminated glass. Team leaders were JC Anderson's Tom Raveret and Joe Maguire. The superintendent was JC Anderson's  Brian Elvidge. Torchia Associates provided the architectural services.

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Reed Construction has completed a 16k SF office build-out for Regus at the Old Orchard Towers located at 5250 Old Orchard Rd in Skokie. Reed was hired by the owner of the property, Zeller Old Orchard, to complete the new business center for Regus, which features multiple private offices, a server room, conference rooms and a business café. Reed's Jack Hennessy  was the project executive and Hank Sembdner was the project superintendent for Reed Construction. idGROUP, a Dallas-based architectural firm, provided the design services.

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The Missner Group  is wrapping up an $8M, 60k SF build-to-suit for Greenwood Associates, a national processor of fruit juice concentrates, essential oils and purees, at 6280 W Howard St in Niles. The Missner Group, led by  Barry Missner, orchestrated the successful resolution of seven easements, brought sewer and water infrastructure to the site, demolished an existing parking lot, and managed all of the zoning requirements. Construction includes an onsite laboratory with microbiology and acid/PH testing  capabilities to demonstrate food safety compliance.

Leasing News

Tishman Speyer announced lease transactions totaling more than 300k SF at 161 N Clark.

• Bryan Cave LLP renewed 63k SF. Jones Lang LaSalle's Bill Rogers, Steve Steinmeyer, and Bill Sheehy represented the tenant. Tishman's Joe Gordon and Jon Cordell  repped the owner.

• Subtenant General Electric Railcar Services Corp signed to become a direct tenant with a new lease for 61k SF. Cushman & Wakefield's Jeffrey Samaras represented the tenant while Tishman's Joe Gordon and Jon Cordell repped ownership.

• A long-time tenant renewed a 164k SF lease. Building ownership was represented by Tishman's Joe Gordon  and Jon Cordell.

• Law firm Anesi, Osmon, Rodin, Novak & Kohen, repped by Studley's Joe Learner, signed for 14k SF.

• Phoenix Bond & Indemnity Co, represented by UGL Services' Matthew Alexander and Adam McCostlin inked a 3,152 SF renewal.

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Arthur J Rogers & Co's Chris Zannis recently completed three leases within Rogers Business Parke-Elgin:

• Nationwide Appraisals leased 2,900 SF at 2521 Technology Drive in Elgin. Chris represented ownership and Chicagobroker.com's Steven Goldstein represented Nationwide Appraisals.

• Linear Industries renewed and expanded its lease to 7,800 SF at 2531 Technology Dr. Chris represented ownership and the tenant was self-represented.

• Chris completed a 1,800 SF new office lease to The McCarthy Group  on behalf of ownership. The tenant was self-represented.

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Concentra Health Services leased 6,160 SF of retail space at 3145 S Ashland Ave in Chicago from FW IL-Riverside/RiversEdge LLC. CB Richard Ellis's John Woolsey, Warren Willey, Jordan Buis, and Searcy Ferguson represented the tenant.

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AmWins Brokerage of Illinois  leased 23k SF at 10 S LaSalle St from Madison LaSalle Partners. CB Richard Ellis' Jordan Buis and Warren Willey represented the tenant.

Sales News

Bickford Senior Living, a Kansas City-based developer and operator of assisted living and memory care communities, and Harrison Street Real Estate Capital, a Chicago-based real estate private equity firm, have entered into a JV resulting in the immediate acquisition/recapitalization of six assisted living and memory care communities that Bickford currently manages for about $62M. The partnership already has assembled a pipeline of future acquisition and development opportunities and could make total investments exceeding $200M. The properties acquired by the partnership include six Bickford Senior Living communities in the Chicago, Kansas City, Omaha, and Des Moines metro areas.

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Paine/Wetzel · ONCOR International is pleased to announce that it has completed two industrial sale transactions. Trigon International has purchased a 75k SF industrial building within the Meridian Business Campus at 4000 Sussex Ave in Aurora. Paine/Wetzel's Jerry Sullivan and Brandon Wright represented the buyer. The seller, Duke Realty, was represented by Paine/Wetzel's Elise Couston, and William Kerrins. Kirsan Engineering purchased a 33k SF industrial building within the LakeView Corporate Park located at 8201 100th Street in Pleasant Prairie, Wisc. Paine/Wetzel's Whit Heitman, Sam Badger, and Brad Weiner represented the buyer and Grubb & Ellis's Ryan Kehoe repped the seller, PPG Industries.

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An affiliate of KTR Capital Partners closed on the acquisition of 3920 Enterprise Ct in Aurora. The 177k SF front-load facility was acquired through a sale-leaseback transaction with Cano Container, which will continue to occupy the building on a long-term basis. This is KTR's second investment in the  I-88 corridor.

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Newcastle Limited has acquired two investment properties, 525 W Stratford  and 1200 W Granville, in an all cash deal for $9.1M. Newcastle purchased the properties on behalf of its $500M Chicago real estate investment platform. Apartment Investment Advisers'Jack Cassin  and Bill Cassin represented the seller. 525 W Stratford is a 59-unit apartment building, featuring a mix of studio, one- and two-bedroom units, and parking. 1200 W Granville is a mixed-use property with of  6,750 SF of retail space and 32 studio apartments.

Executive Moves

Gregory Bonsignore has joined Jones Lang LaSalle as director of occupancy planning in the firm’s strategic consulting group. In this role, Gregory will be responsible for driving innovation and product enhancement within the occupancy planning practice. With nearly 25 years of related experience, Bonsignore joins Jones Lang LaSalle from Einhorn Yaffee Prescott, where he participated in the management and implementation of the United Nations Capital Master Plan. He has a bachelor's degree from the New York Institute of Technology.

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Yitzie Sommer has been promoted to VP at Marcus & Millichap. Yitzie works in the firm’s Chicago Downtown office. He began his career with the firm in 1999 as a part-time research intern in the Chicago office. He joined the firm full time in 2001 as the research manager for the Chicago, Indianapolis, and Milwaukee offices. He graduated from Brandeis University with a bachelor’s in political science.

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Michael Washington has joined Reed Construction as project manager. Michael brings 10 years of experience to his new position, where he will be responsible for preparing estimates and proposals; purchasing trades; and drafting and negotiating trade contracts. He was previously with Oakley Construction Co. and holds a Master's degree from Northwestern University.

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Andrew Maletich joined Cawley Chicago Commercial Real Estate, previously working in the floor covering business where he most recently served as VP of the of one of the largest contractors in the Chicagoland area. He has an extensive background in construction build-outs, purchasing and contract negotiations, which will serve him well in the real estate industry.

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Matt Jones has joined the Kiser Group as a managing director. Matt brings a strong background in multifamily brokerage, leasing, development, and management to his position at Kiser Group. Prior to joining Kiser Group, Matt worked for a national brokerage firm and a boutique leasing firm, specializing in Chicago apartments. Matt also works closely with various real estate and community organizations, serving as a member of the Edgewater Uptown Builders Association, the Chicagoland Apartment Association, the Susan Hay Hemminger Scholarship Foundation, and the Leukemia and Lymphoma Society.

Management News

Cassidy Turley has been selected to manage a 7.8M SF portfolio for IndCor Properties, an affiliate of  Blackstone Real Estate Advisors. The properties comprising IndCor’s industrial portfolio are in Chicago, Cincinnati, Columbus, Denver, Indianapolis, Kansas City, and Louisville. Cassidy Turley manages 2,377 industrial properties totaling more than 257M SF.

Legal News

Frontline Real Estate Partners has been retained to act as real estate advisor for the real estate assets involved in Kazi Foods’ Chapter 11 bankruptcy  proceedings. Kazi Foods, the second-largest Kentucky Fried Chicken franchisee, filed for Chapter 11 bankruptcy in February at four of its 11 entities, affecting about 130 restaurant locations across Michigan, Florida, New York, New Jersey, and Maryland. Frontline Real Estate Partners will provide real estate advisory  and disposition services to market Kazi Foods’ portfolio of fee properties and restructure existing leases.

Finance News

Grubb & Ellis Co's Jim Adams represented Campus Living Villages  in refinancing a $38M loan on Illini Tower, 409 E Chalmers in Champaign. The loan on Illini Tower is through a CMBS lender. Terms of the refinance included a 10-year fixed-rate loan with a 70% LTV. A $1M renovation of public and exterior spaces was completed on the building in spring 2011.

Auction

CBRE Auction Services will hold a multiple property auction on Wednesday, Aug. 10. On the block: 45 acres of development land at an I-94 interchange; 4.3 acres  of development land in Round Lake;The Clarion Hotel and Wasserbahn Water Park; a 49-room Guesthouse Inn Motel; two leased industrial facilities; and one vacant industrial facility. The multiple property open-outcry webcast auction will be held at 12:00pm at the Hyatt Rosemont.