This Week's Chicago Deal Sheet

JLL made waves this week by acquiring lease and debt restructuring firm Huntley, Mullaney, Spargo & Sullivan. The move will allow JLL to better position itself to assist retailers across the country in controlling costs and improving profitability.

Since its founding in 1993, HMS has restructured more than $12B in lease and debt liabilities for nearly 400 clients while working with the country’s largest landlords, REITs, banks, key regional and local lenders, insurance companies and pension funds. Ten HMS executives will join JLL. HMS principals Tom Mullaney, Dave Spargo and Bill Sullivan will serve as managing directors in the firm’s retail corporate services division and report to president Naveen Jaggi. (Snapped: Bill Sullivan, Tom Mullaney, JLL VP Wally Wahlfeldt, Dave Spargo and Naveen Jaggi)

SALES

CBRE’s Derrick Almassy and Rich Frolik completed the following sales:

• Repping Interstate Partners in the $11M sale of Regency Square (shown), a 43k SF retail property at 12200-12300 Princeton Dr in Huntley, to Hamilton Partners.
• Repping the seller of The Commons of Hazel Crest, a 51k SF retail property at 18220-18244 Kedzie Ave in Hazel Crest, to Baceline Investments for $4M.

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Windy City RE’s Milan Rubenstein repped both parties in the $3M sale of 4815 N Springfield Ave, a multifamily property in Albany Park.

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Transwestern’s Adam Schneiderman repped the buyer of 350–370 Lexington Dr, a 25k SF industrial property in Buffalo Grove, for $2.7M. Schwab Realty & Development repped the seller.

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Marcus & Millichap’s Sean Sharko and Austin Weisenbeck repped the seller of a Starbuck’s|Sleepy’s at 438 W Army Trail Rd (pictured) in Bloomingdale for $3.5M.

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Jameson Commercial’s Clark Patterson repped buyer Wesley Properties/Meta Properties in the $1.1M acquisition of 1061 W Cornelia, a five-unit multifamily property in Wrigleyville.

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The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller of a single-tenant net-leased PNC Bank at 1996 Freedom Pkwy in Washington, IL, for $1.3M.

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Interra Realty’s Dan Byrne repped both parties in the $3.6M sale of 7255-71 South Shore Dr, a 52-unit multifamily property in Chicago.

LEASES

CBRE’s Kyle Kamin and James Otto repped HFRI in brokering a 32k SF lease at 2500 Westfield Dr in Elgin (shown).

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JLL’s Nikki Kern and Melissa Rubenstein recently won the leasing assignment at 180 N LaSalle. 

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Avison Young’s Keith Puritz, Brett Kroner and Eric Fischer repped Focus Foodservice in its 150k SF lease extension and expansion at 451 Trumpet Dr in Zion (pictured). Colliers’ Chris Volkert and Matthew Stauber repped the landlords, Prudential Insurance and Panattoni Development.

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CBRE’s Jessica Pavlic and Ellen Zalatoris were named the leasing agents for The Offices at 900 West, a new development in Fulton Market. Tucker Development is developing the project, which will include 45k SF of office space when it delivers in spring 2017.

FINANCING

Aries Capital’s Neil Freeman and Andrea Riegsecker arranged a 10-year, fixed-rate, $4.7M loan for two commercial condo units at 217 and 233 W Huron in Chicago. The units total 14k SF and are in a six-story timber loft building in River North.

HIRES/PROMOTIONS

Bridge Development Partners hired Brian Niven as principal of the firm’s cold storage division. Brian comes to Bridge from J-Power USA Development, where he was responsible for project origination and development in the US. He served as an active duty Army Infantry officer seeing tours in Iraq and Afghanistan and as an intelligence analyst while serving in the Reserves.

KUDOS

Jameson Commercial SVP Mark Kishtow was named the firm’s top producer for the sixth straight year. Mark specializes in investment sales, retail and residential development. Jameson Commercial also awarded Rob Thomas the Huzenis award, which is given to the agent who best exemplifies leadership and advocacy for the firm and personal development.

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Prudential Plaza was recertified LEED Gold. Prudential Plaza management and staff worked with Delta Institute, a local environmental nonprofit, throughout the LEED recertification process. JLL’s Bryan Oyster, John King, Izzie Bakopoulos, Jim Kuerbs and the engineering staff were instrumental.

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Paine/Wetzel honored Curt Stanton and Jeff Blake as the firm’s top producers for 2015. Curt, a principal of the firm and 30-year veteran, completed 45 transactions in 16 states and seven countries in 2015. Jeff, an SVP, negotiated a 140k SF lease on behalf of Space Center in Aurora and a $20M lease with M&R Printing in Roselle last year.