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This Week's Chicago Deal Sheet

CH Robinson is expanding its Chicago-area footprint. The largest logistics company in Chicago signed a seven-year lease at 333 Howard Ave in Des Plaines.

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CH Robinson plans to use the 236k SF facility as a key hub for its North American and international freight consolidation operations. The space was built spec by Liberty Property Trust and delivered in September. Certified LEED Silver, the building has 32-foot clear heights, 61 loading docks and 61 levelators. CH Robinson plans a two-phase move-in. The first phase is slated for this month, totaling 75k SF. The remaining space will be occupied in July. Cushman & Wakefield’s Britt Casey and Chris Lydon, in collaboration with in-house rep Matt Neumann, repped Liberty Property Trust. CH Robinson previously signed a 15-year lease for the Gutmann Leather building in the Clybourn Corridor PMD in September.

SALES

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Sperry Van Ness’ Scott R. Maesel, Chad Schroedl and Drew Dillon repped the seller of 615 W Randolph St (shown) for $2.6M. The buyer, Donnie Madia of One Off Hospitality, operates the award-winning Avec restaurant on the building’s first floor.

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Faris Lee Investments’ Matthew Mousavi and Patrick Luther repped both parties in the $7.1M sale of The Shops of Deer Grove in Palatine. The deal closed at $602/SF and a 6.1% cap rate, a record for comparable strip centers in the Chicago area.

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Sperry Van Ness’ Paul Cawthon and Angelo Labriola repped the seller of 2828 Rose St in Franklin Park, a six-flat multifamily building. The sales price was $345k.  

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Pine Tree Commercial Realty announced the acquisition of Pine Creek, a 217k SF shopping center in Grass Valley, CA. It was the Chicago firm’s 78th acquisition since its founding in 1995.

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Podolsky/Circle CORFAC International’s Alissa Adler and John Homsher repped the private seller of 16W361 Frontage Rd in Burr Ridge (shown) to an investment entity sponsored by Lagestee-Mulder. The building includes 14 office suites and is 94% leased.

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HFF’s Amy Sands, Clinton Mitchell and Barry Brown repped seller Retail Properties of America in the $27.4M sale of The Shops at Boardwalk, a 122k SF, 100% leased shopping center in Kansas City, MO. GDF Real Estate Services bought the property on behalf of ACF Property Management, free and clear of debt.

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NAI Hiffman’s Brian Colson repped a private buyer in the sale of 1600 Busse Rd in Elk Grove Village, from CenterPoint Properties. The buyer plans to convert the 125k SF facility to self-storage use.

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Darwin Realty’s Noel Liston and Brendan Sheahan repped First Community Bank in the sale of 1616 Berkley St in Elgin to Simplomatic Manufacturing, which will move into the 42k SF space from Chicago. Transwestern’s Ed Brandt repped the buyer.

LEASES

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JLL’s Dan McGillicuddy repped Exel Logistics in a three-year lease renewal for its 184k SF facility at 1075 W Taylor Rd in Romeoville (pictured). JLL’s Trevor Ragsdale repped the landlord, AREA Property Partners.

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NAI Hiffman’s Dan Leahy, Ben Cremer and Mike Robbins repped IDI Gazeley in its new 221k SF lease with Kane Warehousing at 700 S Weber Rd in Bolingbrook. Mohr Partners’ Trent Smith repped the tenant.

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First Western Properties completed the following leases:

  • Metro PCS signed a five-year lease at 125 W 159th St in Harvey. Paul Tsakiris, Thor Madden and Laryssa Moros repped both parties.
  • Paul Tsakiris, Laryssa Moros and Marion Abramiuk repped both parties at 8100 S Stony Island to Ivy League Art Studio.

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Entre Commercial Realty’s Mike DeSerto, Dan Benassi and Dan Jones repped Novomatic Americas Sales in the leasing of 51k SF at 1050 E Business Center Dr in Mt Prospect. Colliers’ Jonathan Cohn and Kelly Joyce repped landlord Colony Capital.

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Boxer Property’s Dan Joyce repped the landlord in the lease of 3223 Wilke Rd in Arlington Heights (pictured) to Andres Medical Billing. Andres will occupy the entire 17k SF building. Brian Properties’ Scott Whisler repped the tenant.

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NAI Hiffman’s Whit Heitman, Sam Badger and Brad Weiner repped CenterPoint Properties in its 300k SF lease renewal with Graham Packaging at 7100 Durand Ave in Sturtevant, WI. Cushman & Wakefield’s Britt Casey and Kemp Conrad repped the tenant.

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NAI Hiffman’s Whit Heitman, Sam Badger and Brad Weiner repped CenterPoint in a 50k SF lease expansion with Parker Plastics at 8201 109th St in Pleasant Prairie, WI. Parker Plastics now occupies over 125k SF at this location. CBRE’s Ryan Bain and Sean Kropke repped the tenant.

HIRINGS/PROMOTIONS

CBRE hired Justin Ross as VP in its capital markets institutional properties presence. Justin was previously managing partner at Interra Realty.

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Walker & Dunlop hired Kyle Peterson as VP of its multifamily finance group. He joins the firm from Herman & Kittle Properties, where he provided financing solutions for affordable and market-rate housing and cultivated partnerships with housing authorities and other not-for-profit partners.

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Redfin hired John Goldsworthy as leader of its builder services division in Chicago. John was previously a VP of marketing, sales and development at @properties.

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Greenstone Partners hired Jon Hegwood as VP in its investment division, where he will focus on suburban office investment sales.

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Kinzie Builders named Mike Reardon to the firm’s newly created construction operations manager position.

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Marco Cesario joins Sperry Van Ness as an adviser, specializing in the disposition of multifamily, mixed-use and retail assets.