The Missner Group broke ground on 4002 S. Princeton Ave., a 180K SF industrial project in the Stockyards.
The project, funded through a joint venture with investment partner Greystar-Thackeray, is expected to be completed in the second quarter of 2026. The building will feature 20 exterior loading docks, two drive-in doors, 36 trailer positions and parking for 208 cars.
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“The Stockyards’ close proximity to both major transportation linkages and a large blue collar workforce makes this building a versatile option for any company’s needs,” TMG President Barry Missner said in a press release.
4002 S. Princeton Ave. is the latest in a series of developments The Missner Group has undertaken in the Stockyards. These projects include 3900 S. Normal Ave., a 169K SF industrial building, and 1032 W. 43rd St., a 130K SF industrial building.
PEOPLE
Bill White Jr. rejoined Baird & Warner as vice president of broker relations for mortgage and title services. White will serve as the primary contact for agents, attorneys and loan officers in supporting the company's real estate services.
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The Chicago chapter of the Society of Industrial and Office Realtors elected Dan Smolensky as its global vice president. He will assume the role this fall. Smolensky is principal and founder of TMG Real Estate Advisors.
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CBRE hired the office leasing team of Greg Tait, Maggie Brophy and Jamion Hartley to join its Chicago office. Tait and Brophy will join the firm as executive vice presidents, and Hartley will be a first vice president. The team joins CBRE from Irvine Co. and will continue to lease out a 4.4M SF Chicago trophy office portfolio, which includes 300 North LaSalle, One North Wacker and 71 South Wacker.
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Kiser Group hired Joe Caiola as an associate. He will support the firm’s Midwest team, contributing to underwriting, market research, financial analysis and process management across multifamily transactions.
SALES
An undisclosed buyer purchased a 36-unit multifamily property at 5201 W. Washington Blvd. in Austin for $2.6M. The building was 100% occupied at the time of sale. Kiser Group Advisors’ Noah Clark and Jack Petrando represented both parties in the deal.
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A Washington, D.C.-based private investor purchased a five-suite retail property at 600 S. Dearborn St. for $4.1M. The property totals 12K SF of ground-floor retail. Marcus & Millichap’s Mark Krantz and Derrick Dougherty procured the buyer.
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An undisclosed local buyer purchased a seven-building multifamily portfolio in West Ridge for $10.8M. The garden-style buildings total 94 units. Interra Realty's Joe Smazal represented both parties in the deal. The buyer assumed the CMBS loan from the seller.
LEASES
Axis Warehouse & Logistics signed a 300K SF lease at 500 Country Club Drive in Bensenville. The company now occupies the entire property. Lee & Associates' Jeff Galante represented the tenant, while JLL's Dominic Carbonari represented the building owner, Link Logistics.
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Sunon Furniture signed a 13K SF showroom lease at 800 W. Fulton St. in Fulton Market. JLL’s Sarah Silva and Nicole Becker represented Sunon.
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