This Week's Chicago Deal Sheet
Another company is making the move to downtown. Mayor Rahm Emanuel's office announced late last week that battery maker Duracell is establishing its executive offices at 181 West Madison.
The move will bring Duracell CEO Angelo Pantaleo and 60 new positions to Chicago. The news will only help the building's owner, CBRE, as it works to find a buyer for the 50-story tower.
Mid-America Real Estate’s Joe Girardi and Stan Nitzberg repped Smithfield Properties in the $150M sale of a five-property urban retail portfolio to Acadia Realty Trust. The properties include:
- State & Washington Shops at the southwest corner of State and Washington streets. The property features Nordstrom Rack and H&M.
- 151 North State St is a flagship Walgreens store (shown) at the northeast corner of State and Randolph streets.
- North & Kingsbury Center at the southwest corner of North Avenue and North Kingsbury Street. The center includes Old Navy, Pier 1, Blick Art Materials and Modani Furniture.
- California & Armitage Shops at the northwest corner of California and Armitage avenues. The center includes PNC Bank, 7-Eleven, The UPS Store, Sally Beauty Supplies and Athletico.
- Milwaukee & Concord Shops at the northwest corner of Milwaukee Avenue and Concord Place. The center includes 7-Eleven, The UPS Store and Kriser’s.
Inland Private Capital Corp announced the $37.1M sale of a FedEx Ground facility in Zionsville, IN. IPCC, through a subsidiary that serves as asset manager, facilitated the sale on behalf of one of its 1031 investment programs.
Quantum Real Estate Advisors’ Chad Firsel and Dan Waszak repped both the seller, Inland Private Capital Corp, and the buyer in the $30M sale of Freedom Commons, an 82k SF retail center in Naperville (pictured).
Baum Realty Group completed the following transactions:
- Patrick Forkin, Greg Dietz, Brad Teitelbaum and Danny Spitz repped the seller, a Midwest-based real estate development group, in the $4.5M sale of a multi-tenant retail center at 5224-28 North Northwest Hwy. The buyer was a private out-of-state investor.
- Patrick Forkin, Danny Spitz, Brad Teitelbaum and Greg Dietz repped the seller in the $3.6M disposition of a 7-Eleven store at 200 North Dearborn.
HFF’s Mark Katz, Jaime Fink and Jeff Bramson repped both parties in the $94M sale of a three-property, seven-building office portfolio totaling 809k SF in Overland Park, KS. The three properties— 7101 College, Commerce Plaza I and II, and Financial Plaza I-IV—are 93% leased.
Stream Capital Partners' Jonathan Wolfe and Jordan Shtulman repped Consolidated Lumber in the $14.5M sale-leaseback of a 13-property industrial lumber portfolio in Wisconsin and Minnesota. The portfolio comprises over 300k SF of building area on nearly 3M SF of land.
Entre Commercial Realty’s Brian Bocci repped Vinayaka Holdings in its purchase of a 204k SF office building at 1000 East Woodfield Road in Schaumburg (pictured), and was retained to market the building for prospective tenants. Colliers International’s Steve Kling, Jason Simon and Tom Gorman repped the seller.
NAI Hiffman’s Chris Gary completed the following transactions:
- AMS Woodridge acquired a 145k SF asset from Conor Commercial Real Estate at Union Pointe Business Park in Woodridge.
- Graymills Corp acquired a 120k SF building at 2601 South 25th Ave in Broadview from 25th Avenue Properties.
- American Sheet Metal Fabricators purchased an 83k SF building at 665 West Armory Drive in South Holland from Clybourn Capital. NAI Hiffman’s Alex Sutterer repped American Sheet Metal Fabricators.
- Robert James Sales bought a 48k SF building at 10499 164th Place in Orland Park from Midwest Industrial Funds.
Interra Realty’s Joe Smazal repped the seller in the $2M disposition of a six-unit apartment building at 163-165 West Schiller St in Old Town.
Podolsky|Circle CORFAC International’s Alissa Adler, John Homsher and Paul Tesdal repped the seller, Kapadia and Sons, in the $3.2M disposition of Centegra Milestone Therapy Center, a 12k SF single-tenant net leased medical office building at 394 Federal Drive in Crystal Lake. The buyer was a private investment group.
Dayton Street Partners acquired a 40k SF building and 15k SF of land at 1500 West Carroll (shown), on the Near West Side, from a private seller. Dayton Street will invest $4M into modernizing the existing building, and plans to build another 30k SF building on the adjacent lot.
NAI Hiffman’s Chris Gary and Alex Sutterer completed the following lease transactions:
- IRG Realty Advisors signed a new lease with tenant ANCO Steel for 126k SF at 4531 Columbia Ave in Hammond, IN.
- Cabot renewed its 78k SF lease with tenant Alsip Mini Mill at 13144 South Pulaski Road in Alsip. The tenant was repped by CBRE’s Pete Roberson.
- Top 23 - Illinois SS Industrial expanded its lease with tenant Gerresheimer Glass, which occupies 209k SF in the building at 480 East Lincoln Hwy in Chicago Heights. The tenant was repped by NGKF’s Jack Cozzie.
Wool Finance Partners’ Gary Wool and Martin Siegel arranged a creative financing structure that included a $2.4M financing package for the acquisition of Long Grove Commons in Long Grove.
Cushman & Wakefield appointed Vicki Noonan as Chicago managing principal. Vicki joins C&W from Tishman Speyer, where she started her real estate career as an administrative assistant in 1978 and rose to managing director and leader of the firm’s Chicago and Milwaukee offices. A member of CREW and the Chicago Office Leasing Brokers Association, Vicki will provide strategic leadership to a metro Chicago team of more than 350 brokerage, property management and project management professionals who serve the firm’s investor and occupier clients.
Kristen Larkin joined Fitzgerald Associates as associate principal. A 15-year industry veteran, Kristen’s portfolio and commissions include the British International School of Chicago, The Salvation Army Freedom Center, DePaul School of Music, and corporate offices for IBM and @properties.
NGKF hired Bill Rolander as executive managing director and Jon Cordell as senior managing director. The duo come to NGKF from The John Buck Co, where they leased a portfolio of trophy assets including 155 North Wacker, 161 North Clark, 209 South LaSalle, 33 North LaSalle and 142 East Ontario. More recently, the team has been entrusted to pursue anchor tenants to launch several new trophy office tower developments at 151 North Franklin and 333 South Wabash.
Urban Innovations promoted Jo Ann Gottfried from EVP to COO. Jo Ann, who’s been with UI for 30 years, will manage the day-to-day operations of the firm’s commercial portfolio and construction alongside president Howard Conant Jr.
The Habitat Co was awarded management of Park Place Condominiums at 600 North Kingsbury in River North. The 20-story, 163-unit contemporary condominium tower was designed by Chicago-based Solomon Cordwell Buenz and was completed in 2002.