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The Deal Sheet

Chicago Deal Sheet

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The Deal Sheet

SALES

Acadia Realty Trust paid $14.8M ($922/SF) for a 16k SF Lincoln Park building, 865 W North Ave (above), 100% net-leased to Forever 21. Marcus & Millichap senior associate Stephen Lieberman repped Acadia; Colliers senior associate Brad Teitelbaum and SVP Peter Block repped the seller, Elk Grove Village-based Tri-Equities.

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Chemstation purchased a 26k SF warehouse at 930-934 Oaklawn Ave in Elmhurst. Lee & Associates of Illinois principal Jeff Galante repped the seller, Frontier Real Estate Investment Co; NAI Hiffman’s Jeff Fischer repped the buyer.

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Alan Katamanin, an investment specialist in Marcus & Millichap’s Chicago Oak Brook office, repped the seller and buyer, both private investors, in the $1.6M sale of 220-230 S Dilger Ave, a 32-unit apartment property in Waukegan. The property features 66 underground parking spaces for tenants.

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Scott Harris and Tami Andrew, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, repped the seller, an LLC, in the $2.8M sale of Highland Springs Apartments, a 48-unit property at 505 Autumn Ct in Elgin. The buyer, an LLC, was repped by Andrean Angelov and Ryan Engle, also investment specialists in Marcus & Millichap’s Chicago Oak Brook office.

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SD&S Properties purchased a 14k SF retail building at 2100-2160 W North Ave in Melrose Park. Lee & Associates of Illinois principal Rick Scardino repped the seller, Naples Trust.

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Austin Weisenbeck, Adrian Mendoza, and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, repped the seller, a local developer, and the buyer, a partnership, in the $1.3M sale of State Farm Anchored Center, a 5,994 SF retail property at 1906-1928 W Wilson St in Batavia. The center is 100% occupied by three net-lease tenants: State Farm, Hanson Chiropractic, and Elliff Dental.

LEASING

Suyra Electronics leased a 12k SF building at 550 Windy Point Dr in Glendale Heights. Lee & Associates of Illinois senior associate Jay Farnam repped ownership.

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The Deal Sheet

R-T Specialty, a subsidiary of Ryan Specialty Group, inked a long-term lease for new space in its current building (above), 500 W Monroe. It will staff more than 40% of additional workforce in the same footprint, about 27k SF. Studley executive managing director Robert Sevim repped R-T; JLL managing director Steve Smith and SVP Gary Kostecki repped ownership, Piedmont Office Realty Trust.

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DLA Piper signed a 175k SF lease at Ivanhoe Cambridge and co-investor and developer Hines’ River Point, 444 W Lake St in the West Loop. DLA will move into levels nine through 16 of the 52-story office tower in early 2017. The law firm was repped by JLL’s Steve Stratton, Bill Rogers, Rob Copito, and Phil Leibow, along with Cushman & Wakefield’s Mark Robbins. Ownership was repped by Hines’ Greg Van Schaack, Tom D’Arcy, Jim Walsh, and Laura Hines.

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Science Supply leased 3,200 SF of warehouse space at 605 Country Club Dr in Bensenville. Lee & Associates of Illinois senior associate Jay Farnam repped ownership, RREEF, and Transwestern’s Ryan Phillips repped the tenant.

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MB Real Estate completed a 13k SF renewal and expansion for PPM America’s suburban offices at 300 N Martingale in Schaumburg (it has an HQ at 225 W Wacker). MBRE EVP and managing director Andy Davidson and SVP Jay Beadle repped PPM; Transwestern’s Joe Stevens repped ownership.

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Orkin leased 2,070 SF of flex space at 1095 Pingree Rd in Crystal Lake. Lee & Associates of Illinois SVP Mike Plumb repped the tenant; the building is owned by Sarillo Development.

FINANCING

Associated Bank SVP Jodi Cloninger managed the closing of a $5M loan to Bianco Properties for the acquisition of Lonore Plaza, a neighborhood retail center at 7130-7188 Dempster in Morton Grove.

EXECUTIVE MOVES

Zeller Realty Group tapped leasing vet Cody Sundberg as VP, assigned to lease newly acquired 1.3M SF 311 S Wacker in partnership with Zeller’s head of leasing, Howard Meyer. Cody previously worked on agency portfolio leasing and new business development for Transwestern’s CBD agency team and earned his BS from Miami of Ohio.

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Berkadia Commercial Mortgage hired Aaron Abelson as SVP. With nearly 20 years in the business, Aaron was most recently SVP for Alliant Capital, with a focus on agency lending. He received his BA in political science from the University of Wisconsin and JD from John Marshall Law School.

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Sperry Van Ness Chicago Commercial tapped Jacquelyn Faranso as associate advisor, specializing in the sales and leasing of office property in the Loop, River North, and surrounding neighborhoods. Jacquelyn was previously a tenant rep broker for Tenant Advisory Group.

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Sitex Group opened an LA office and tapped Eric Ruehle, former VP of investments at CenterPoint Properties, to lead its Southern California efforts with current investment vehicle, Sitex Fund VIII. An ASU grad and 10-year industry vet, Eric has acquired and developed more than $400M in industrial real estate during his career.