This Week's Chicago Deal Sheet
Commercial real estate is an industry whose members give back to the community. One of the most popular events of the spring, the CRE Broker Hockey Classic, wrapped up another successful edition.
This year set new records with 32 brokers lacing their skates and 80 spectators attending, while $8,500 was raised for Inner City Education and the Chicago Blackhawks Charities. The game was another offensive display, with Team Red defeating Team Black 10-8. The event has raised over $50K in its seven-year history.
The Boulder Group’s Randy Blankstein and Jimmy Goodman repped both parties in the $25M sale of Archer Station, a fully leased four-tenant shopping center at 2620-2640 West Pershing Road.
North Wells Capital acquired 331 West Wisconsin, a 429K SF mixed-use building in the heart of the Milwaukee’s downtown west business district, for $25M. The seller, WISPARK, was repped by CBRE’s Patrick Gallagher.
Mid-America Real Estate’s Joe Girardi repped Viking Partners in the $13M sale of Sheridan Village, a 310K SF shopping center in Peoria, to Northbridge Investment Management.
Essex Realty’s Steve Livaditis and Joe Scheck repped the seller, and Doug Imber and Kate Varde repped the buyer, in the $1M sale of 1906 West Summerdale Ave., a six-unit apartment building in the Bowmanville neighborhood.
Quantum Real Estate Advisors’ Chad Firsel repped the seller in the $855K sale of a multi-tenant retail center at 644 Sheridan Road in Winthrop Harbor.
MBRE completed the following leases:
- David Burkards and Kyle Robbins completed a 13K SF lease on behalf of the American Civil Liberties Union of Illinois at 150 North Michigan Ave. It is the ACLU’s first relocation and expansion in 20 years.
- Rob Healy repped the landlord in a 5K SF lease with WellDone Hospitality Group at 401 Financial Place. WellDone Hospitality will open Taureaux Tavern in early 2018, and was repped by Stone Realty’s David Stone and John Vance.
CBRE’s David Prioletti repped Salco Products in two lease renewals in the I-55 Corridor. Salco renewed for 96K SF at 1385 101st in Lemont, and 32K SF at 20W267 101st St. in Lemont. Both leases were aligned as co-terminus, with the smaller location representing overflow space for the projected growth of Salco’s tank and hopper car parts business.
The Missner Group’s Angela Aeschliman completed the following leases:
- Aeschliman completed lease renewals at Howard Industrial Center at 6350-6450 West Howard St. in Niles with Data Communications Management for 20K SF and Specialty Print Communications for 20K SF.
- Aeschliman completed a 6,481 SF lease renewal with Epic Products within the Touhy Industrial Plaza at 500 East Touhy Ave. in Des Plaines.
- Aeschliman completed a 1,455 SF renewal with Porsche Financial Services and a 1,320 SF renewal for Synergy Computer Solutions in the Olympian Office Center at 4343 Commerce Court in Lisle.
Bradford Allen hired Jim Higdon and Kate Forthofer as managing director and associate, respectively. The pair will join the tenant representation team in Bradford Allen’s Oak Brook office focusing on the Chicagoland suburbs. Before joining Bradford Allen, Higdon and Forthofer worked with Transwestern.
Inland Securities Corp. hired Robert Burke and Chad Whatley as vice presidents. Burke and Whatley will serve as external wholesalers working to build relationships with financial advisers. Burke is responsible for building networks in New York and New Jersey. Whatley will oversee relationships in Georgia, North Carolina, South Carolina and Alabama.
NGKF hired Randall Tarnow, Adam Lightbody, John Eagal and Greg Krzysko from Mohr Partners. Krzysko will be a senior managing director in NGKF’s Chicago office. Tarnow, Lightbody and Eagal will be managing director, associate and financial analyst, respectively, in the Detroit office.
Starwood Retail Partners promoted Michael Powers to senior vice president and head of leasing. Powers will oversee the management of Starwood Retail Partners' leasing team, overseeing strategic planning and merchandising of the company's 30 core properties and redevelopment projects.
@properties was awarded the sales and marketing of 1000M, the 74-story condo tower Time Equities, JK Equities and Oak Capital are building at 1000 South Michigan Ave. Sales for the project are expected to launch this summer, with construction set to begin in 2018.
The Inland Real Estate Group collectively raised over $600M in capital in 2016 across the various Inland funds for the purchase of investment real estate. Additionally, Inland Real Estate Acquisitions in 2016 facilitated the purchase of more than $1.1B in commercial real estate, including retail, multifamily, self-storage and medical office buildings, for its various investment funds.