This Week’s Chicago Deal Sheet: 2 Companies Look To Sublease Fulton Market Space
Glassdoor and Waystar are putting office space up for sublease in Fulton Market, a rare bit of bad news for a neighborhood used to snagging positive headlines in the Chicago office arena.
The two tenants are releasing a total of 63K SF to the sublease market at two buildings, 1330 W. Fulton St. and 1375 W. Fulton St., The Real Deal reports. Glassdoor has a presence in both buildings, while Waystar occupies a floor at 1330 W. Fulton St.
The lease for Glassdoor’s 1330 W. Fulton St. offices ends in October 2030, while the lease for 1375 W. Fulton is negotiable, according to TRD. CBRE’s Kyle Kamin and Dan Persa are representing the listing.
Waystar is working with JLL to sublease its 19K SF at 1330 W. Fulton St., with its lease ending in December 2030. JLL’s Scott Becker is handling the sublease.
PEOPLE
Skender made a wave of promotions within its leadership chain, elevating six employees to new positions.
The company promoted Courtney Boatwright to creative director from senior creative manager, Kate Calenberg to director of learning and development from talent development manager, and Patrick Sullivan to director of field operations from senior superintendent.
Skender also promoted Brian Bukowski, Andy Halik and Brian Simons to senior vice president from vice president.
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Daniel Management Group promoted Kenia Rivera to senior regional property manager. Rivera will help manage DMG’s pipeline growth and portfolio of more than 3,000 units. She has been with the company for almost three years.
SALES
Standard Real Estate Investments and The Vistria Group acquired the Haven on Long Grove multifamily community in Naperville from Pensam Capital for $94M. The 416-unit residential community comprises 248 one- and two-bedroom apartments and 168 townhomes. CBRE’s John Jaeger arranged the deal. The acquisition included the assumption of an existing fixed-rate Fannie Mae mortgage serviced by M&T Bank.
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Marcus & Millichap arranged the sale of two neighborhood retail centers totaling about 18K SF in Normal for $2.5M. Investment specialists Eric P. Bell, Jordan Callaway and Mitchell Kiven had the exclusive listing to market the property on behalf of the seller, a real estate developer. The retail centers are leased to a diverse mix of mostly local tenants, including a marijuana dispensary, a coffee shop, a pizza parlor, a regional medical provider and a laundromat.
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Kiser Group facilitated the $7.6M sale of a 39-unit property in Edgewater. Kiser’s Katie LeGrand and Jacob Price represented the seller, while the company’s Danny Logarakis represented the buyer.
LEASES
CBRE arranged a 22K SF retail anchor lease at 980 S. Barrington Road in Streamwood. Burlington signed a new lease and will occupy the space later this year. The lease brings the 81K SF building to full occupancy. CBRE’s Joe Parrott and Sean McCourt represented building ownership.
CONSTRUCTION AND DEVELOPMENT
The Missner Group and CBRE Investment Management completed construction of a speculative 170K SF industrial building at 3900 S. Normal Ave. in Bridgeport. The Missner Group and CBRE Investment Management served as the developers, with The Missner Group also serving as the general contractor. The building features a 3,700 SF model office, 16 loading docks, two drive-in doors, 26 tractor-trailer positions and parking for 168 cars.
THIS AND THAT
Mid-States Concrete Industries, an Illinois company that provides precast concrete systems, acquired Wisconsin-based International Concrete Products. The combined company will fuse architectural precast capabilities and expertise in structural precast solutions to provide customers with total precast building solutions.
