This Week's Chicago Deal Sheet: Realterm Appoints New Head Of U.S. Investments
Realterm, an investment manager focused on the transportation industry, appointed Joe Noon to a top investment role.
Noon will work as senior vice president and head of U.S. investments. He will be based out of Chicago and lead investments and development teams to identify, evaluate and secure new opportunities to grow the firm’s U.S. transportation logistics portfolios.
“Joe's proven ability to strategize and execute will provide strong leadership for our Investment and Development functions as we continue to put capital to work for our U.S. funds,” Price Booker, Realterm's managing director of global investments, said in a press release.
Noon previously worked as Realterm's vice president of investments in the central region and as its national head of development.
PEOPLE
Farbman Group's construction arm, Huntington Construction, hired Youssef Nafe as a project manager in Chicago. Nafe brings nearly 10 years of experience in construction management to the role. Prior to joining Huntington Construction, he served as a construction manager at Nafe Group.
SALES
JDL Development and Centaur Capital Partners purchased Cobbler Square, a 292-unit apartment community at 1350 N. Wells St. in Old Town, for $88.2M. Originally built in 1889 as the Dr. Scholl's shoe factory, Cobbler Square was converted to residential use in 1985. JLL Capital Markets' investment and sales advisory team represented the unnamed seller.
LEASES
Image Studios, a salon retailer, signed a 10K SF lease with Continental Realty Corp. at Fox River Commons. About 35 new Image Studios locations are expected to open in 2025, including two in the Chicago area. Continental Realty's Kristin Perry and Mid-America Real Estate's Brooke Spinell represented the landlord, and Reimagine CRE's Carlie Wilmes represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Friedman Properties completed the first phase of renovations at the Reid Murdoch Building in the River North neighborhood. Improvements included renovations to the lobby, corridors, restrooms and elevator cabs, as well as a new fully furnished riverfront spec office suite. Friedman Properties acquired the eight-story, 320K SF property in 1998 and completed initial redevelopment in 2002.
THIS AND THAT
Stantonic, a Chicago-based interior design and procurement firm, is rebranding, dropping the company name “Stanton Interior Concepts” from the brand. The change is effective immediately.
