Kildeer Shopping Center Sells For $51M: The Chicago Deal Sheet
Fidelis Realty Partners, a Houston-based company, paid $51M for the Kildeer Village Square shopping center at 20393 N. Rand Road.
The company bought the 199K SF property from a venture of Northmarq and Bond Cos., The Real Deal reported. The shopping center was completed in 2017 and includes a variety of tenants such as Nordstrom Rack and Sierra Trading Post.
The property was refinanced with a $47.9M mortgage from Citibank in 2019.
Fidelis scooped up another shopping center in the area, The Shops at Kildeer, for $31M last fall.
PEOPLE
Interra Realty made a trio of personnel moves, promoting Michael Duckler to managing director and hiring Jordan Zaroff and Jack Pearson as associates to support the firm's continued growth. Duckler joined the company in 2019.
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Avison Young bolstered its mission-critical, infrastructure and advanced manufacturing platform, adding Ronan Remandaban as principal on its industrial services team and Jesse Miranda as vice president. The duo's experience and technical understanding will strengthen the firm's capabilities to advise clients on site selection and real estate strategy, said Damla Gerhart, principal and central regional managing director at Avison Young.
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Cresa added Matt Waters to its team as senior vice president, global head of lease administration and lease accounting. Waters will oversee end-to-end management of the lease administration and lease accounting operations for Cresa’s multinational clients’ portfolios and serve as practice lead. He joins Cresa from CoStar Real Estate Manager.
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CRG promoted Matt Dittman to senior vice president and partner, leading the firm’s industrial development strategy throughout key Southeast markets. In this role, Dittman will oversee the development of CRG’s speculative and build-to-suit warehouse projects in the region.
SALES
An unnamed buyer scooped up a multitenant office building at 420 W. Huron St. in River North for $3.1M from Amos Financial. The 38K SF building was built in 1929 and extensively renovated in 2017. @Properties Commercial's Tim Ryan and Graham Mitchell represented the seller, and @properties Christie’s International Real Estate's Sabrina Bier represented the buyer.
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Becovic Residential paid $5.5M for The Winthrop Place at 5710 N. Winthrop Ave., adding the Edgewater property to its portfolio. Essex Realty Group brokered the deal, and Associated Bank financed it, Becovic said in a release.
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An undisclosed buyer purchased a 62K SF office building at 745 McClintock Drive in Burr Ridge. Marcus & Millichap’s Zach Liska and John Abuja marketed the property on behalf of the seller and secured the buyer.
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Doctor Rooter 911 paid $3.3M for a 32K SF industrial building at 1029-1033 Bryn Mawr Ave. in Bensenville. The commercial plumbing company has two other locations in Bensenville, so proximity was key in its search. Lee & Associates’ Michael Plumb, Bradley Simousek and Colin Sons represented the seller, while Lee & Associates’ Dustin Albers represented the buyer.
LEASES
Gould Grieco & Hensley signed a 17K lease at PNC Centre at 1 N. Franklin St. in the Loop. The firm will relocate its headquarters to the building's top floor this spring. It currently operates across two floors in its existing building. JLL's Jake Ehrenberg and Nicole Becker represented GGH, while Kim Doyle and Brad Despot represented the landlord.
FINANCING
The Lynd Group secured $66M in refinancing for the 224-unit Willow Glen, strengthening the property’s balance sheet and positioning the asset for long-term performance, the company said. The refinancing repays the project’s construction loan and replaces it with a $58M Barclays-originated CMBS senior loan and an $8M mezzanine loan provided by Ghisallo Capital.
