This Week's Chicago Deal Sheet
An undisclosed tech and logistics company inked a 1.6M SF industrial lease at 701 Central Ave. in University Park.
“This is one of the largest lease deals executed under one roof in the Midwest region in some time,” Cushman & Wakefield Vice Chair Sean Henrick said in a release. “It [showcases] the strength of the Chicago industrial market as a core distribution location.”
Henrick and Cushman & Wakefield’s Ryan Klink represented the landlord, W. P. Carey, in the lease negotiations, while Jason West, Lou D’Avanzo, and Adam Cooke represented the tenant.
PEOPLE
McHugh Construction tapped Kinjal Patel to join the firm as president. In his new role, Patel will drive strategic growth and diversification of McHugh’s construction business in Chicago and select U.S. cities by tapping into his client relationships. Patel most recently led the Chicago construction business for Lendlease.
***
Baker Barrios Architects hired Mark Kluemper as an associate principal and technical director for the firm’s multifamily and mixed-use practice teams. Kluemper is based out of the firm's Chicago office and has over 30 years of architectural experience in all facets of design, documentation, and project and personnel management. He worked most recently at Chicago-based OKW Architects.
***
Morgante Wilson Architects promoted Tomoe Yunoki from architectural interiors project manager to associate, architectural interior designer. In her new position, Yunoki will continue to oversee all phases of interior architecture in residential projects, from design to punch list. She will also manage protocol and procedure development and mentorship of junior design staff.
SALES
A private investor purchased a 43K SF industrial building at 135 E. St. Charles Road in Carol Stream for $3.1M from another private investor. Brown Commercial Group's Matt Hanson represented the seller and buyer.
THIS AND THAT
The Marshall Bennett Institute of Real Estate at Roosevelt University announced a new accelerated master’s program, which will waive up to four of the 10 required courses for a master of science in real estate degree for students who hold select professional designations and/or industry experience. Students who receive credit for all four courses can complete the remaining six courses in two semesters through virtual coursework and in-person classes held three weekends per semester.
***
The Goldie B. Wolfe Miller Women Leaders in Real Estate Initiative held its inaugural Impact Summit. The event recognized volunteers, mentors and donors for their contributions to improving the CRE industry and showcased the impact of the organization’s program on Goldie Scholars over the 2023-24 school year.
