This Week's Chicago Deal Sheet
CRG has executed a full-building, more than 1M SF lease at The Cubes at Country Club Hills, an industrial facility near the intersection of Interstates 57 and 80 in south suburban Country Club Hills.
![Placeholder](https://cdn.bisnow.net/assets/website/placeholder.png)
“With proximity to a wide swath of the U.S. population, the Midwest ranks as a top industrial market, and modern super-bulk facilities like this one are in short supply,” Jeff Lanaghan, senior vice president and partner for the Midwest region at CRG, said in a press release. “Large users need the scale and infrastructure The Cubes at Country Club Hills provides to meet the growing demands of their supply-chain operations.”
The 70-acre site includes 239 trailer stalls, 128 exterior docks, four drive-in doors, 212 vehicle parking spaces, a newly built office space, dock locks and battery-charging areas.
“With its industrial vacancy rate hovering near record lows, Chicago continues to be a part of our investment strategy as the demand for modern facilities remains strong," CRG President Shawn Clark said in the release.
This is CRG’s first Cubes-branded industrial development in the Chicago area and the first investment made by its investment vehicle, U.S. Logistics Fund II, which raised $300M and closed in June 2022. It is expected to invest over $1.5B in new e-commerce, logistics and manufacturing facilities. So far, CRG has planned, broken ground on or completed 53M SF of Cubes projects.
PEOPLE
Baird & Warner hired Steven Johnson as a broker for the firm’s Chicago Gold Coast office, joining from Jameson Sotheby’s International Realty where he was a broker since 2016.
***
Clear Height Properties hired Robin Stolberg as managing director of acquisitions, a newly created position. He will lead all acquisition efforts.
SALES
Chicagoland Commercial Real Estate Inc. brokered three sales totaling $9.8M, including a 26.8K SF retail center in Carpentersville, Illinois, a 15.5K SF single-tenant office building in Arlington Heights and a 20.2K SF Department of Agriculture food-grade warehouse production facility in Chicago.
***
Marcus & Millichap brokered the sale of a new-construction medtail center at 1001 Fifth Ave. in Hammond, Indiana, for $4.6M. The 14.2K SF property is anchored by a Walmart Supercenter and has visibility from the Chicago Skyway. The firm also secured the full $2.9M asking price for a 17.5K SF drive-thru Dunkin'-anchored retail center at 12980 State Road 23 in Granger, Indiana.
LEASES
Calamos Real Estate entered a lease agreement with Koru Group to relocate its headquarters from Geneva, Illinois, to CityGate Centre in Naperville. The lease starts March 1, and Koru will occupy 7,750 SF of Class-A office space at 2135 City Gate Lane.
CONSTRUCTION AND DEVELOPMENT
Optima Inc.’s construction team has topped off Optima Verdana, a six-story luxury apartment building at 1210 Central Ave. in Wilmette. Pre-leasing for the 100-unit building will begin in early May, with move-ins starting in July.