This Week's Chicago Deal Sheet
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Marcus & Millichap First VP Steven Weinstock is a familiar name in the deal sheet. This Christmas, Santa recognized that Weinstock was a good boy and rewarded him with a promotion.
Weinstock, who joined Marcus & Milichap in 2001, was named the national director of the firm’s national land group. He’ll handle these duties while still running Marcus & Millichap’s Oak Brook offices.
Venture One Real Estate, through its VK Industrial III fund, acquired a 30k SF, multi-tenant industrial building at 552-588 West Taylor Road in Romeoville (pictured). Lee & Associates’ Terry Grapenthin and Caroline Dell repped the seller and were retained by Venture One to market the property.
Windy City RE’s Milan Rubenstein repped both parties in the $2M sale of 1707-09 South Racine Ave, a multifamily property in Pilsen.
Darwin Realty’s Noel Liston and Kevin Cooney repped the buyer, Welch Packaging Group, in the acquisition of a 215k SF industrial building at 9900 Industrial Drive in Bridgeview. Welch will relocate to its new building from Countryside.
Baum Realty’s Brad Teitelbaum, Patrick Forkin and Graham Gold repped the seller in the $3M sale of a PNC Bank ground lease at 1151 South York Road in Bensenville.
Inland Real Estate Acquisitions’ Matthew Tice brokred the acquisition of Park Central Apartments, a 308-unit multifamily property at 7900 Churchill Way in Dallas, TX.
Colliers’ International’s Steve Disse and Jeff Devine were the sole brokers in Bridge Development’s $64.3M sale of three, state-of-the-art, Chicago-area industrial facilities at 2475 Touhy Ave in Elk Grove Village, 4800 South Vernon Ave in McCook, and 8401 West 47th St in McCook (shown). The three buildings have a combined footprint of 539k SF.
The Boulder Group’s Randy Blankstein and Jimmy Goodman completed the following transactions:
- Blankstein and Goodman repped the buyer in the $1.3M acquisition of a single-tenant, net leased Family Dollar at 110 West Oak St in Fairbury, IL.
- They repped the seller in the $1M sale of a single tenant First Mid-Illinois Bank & Trust property at 300 South Division St in Carterville, IL.
NAI Hiffman completed the following transactions:
- Dan Hiffman repped Bluestone Single Tenant Properties in assembling and buying 13 parcels of land, totaling four acres, at the southeast corner of North and North Columbine avenues in Lombard. Plans are underway to build a 7k SF gas station and convenience store with 20 pumps and five diesel pumps.
- John Whitehead repped the buyer, Cordoba, in the acquisition of a 100k SF industrial complex at 516-554 North York Road in Bensenville.
Tishman Speyer’s Joe Gordon and Justin Lewis repped ownership in the following leases at CME Center (10-30 South Wacker Drive) totaling 143k SF:
- Law firm Reed Smith signed a 10-year, 109k SF lease renewal at 10 South Wacker. The new lease, which begins in 2020, will encompass floors 37-40, with the option to expand by another floor. JLL’s Phil Leibow, Bill Rogers and Jeff Liljeberg repped the tenant.
- Lendlease Americas signed a new lease for 33k SF on the 24th and part of the 25th floors, which will commence next August. Cushman & Wakefield’s Steve Bauer and Aaron Schuster repped the tenant.
ASB Real Estate Investments and Madison Capital signed Aesop, an international skin care retailer, to a 10-year lease at 936 West Fulton Market. RKF’s Anthony Campagni, Steve Schwartz and Elan Rasansky repped both parties in the lease.
NAI Hifman’s Brian Colson repped Travelware in a 151k SF lease at 2500 Northwest Pkwy in Elgin. NAI Hiffman is also managing the asset on behalf of the owner, Stockbridge.
Savills Studley’s John Goodman and Eric Feinberg repped law firm Cassiday Schade in a 50k SF lease at 222 West Adams. The firm will move to its new offices from 20 North Wacker.
Mid-America Real Estate–Wisconsin repped the tenants in the following leases:
- Dan Cohen and Tony Colvin repped TJ Maxx in its 23k SF lease at Whitestone Station in Menomonee Falls, WI.
- Dan Cohen and Tony Colvin also repped TJ Maxx in its 19k SF lease at Pine Tree Mall at 2800 Roosevelt Road in Marinette, WI.
- Adam Dreier repped Buffalo Wild Wings in its 5k SF lease at 2394 Costco Way in Bellevue, WI.
- Tony Colvin repped Starbucks in its 2,100 SF lease at 224 Buan St in Tomah, WI.
CBRE’s Glenn Housman arranged $41M in debt for the refinancing of The Buckingham (pictured), a 129-unit, 456-bed student housing facility at 360 East Randolph.
HFF’s Jason Bond secured $25M in financing on behalf of Eagle Management RE for the acquisition of Coventry Glen at Valley Lakes, a 280-unit, Class-A, garden-style multifamily community in Round Lake. HFF placed the 10-year, fixed-rate loan with M&T Realty Capital.
NorthPoint Capital’s Paul Walschlager arranged a $21M loan through a life insurance company for a 157k SF office building in Burr Ridge.
Wool Finance Partners’ Matt Lebenson arranged a $1.75M loan on a 40k SF site at Ted Turner Drive and Peachtree Place in downtown Atlanta. The site will be utilized for future development.
ASC’s Igor Zhizhin arranged a $6M loan for the refinancing of a self-storage property in Wilmette.
Molto Properties promoted Michael Powers to CIO and senior principal. Powers joined Molto in 2014.
Bradford Allen made the following hires:
- Jake Spinell will work out of the firm’s Oak Brook office and will work mainly with Joel Berger in the O’Hare market.
- Brian Page joined Bradford Allen’s tenant representation practice and will work with JH Heck in the firm’s Chicago office.
NGKF was named by The Lynmark Group as the exclusive leasing agent for 100k SF of retail and restaurant space at Wheeling Town Center in Wheeling. Jim Schutter, Terry Alexa and Luke Sementa will head the leasing team.