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The Deal Sheet

Chicago Deal Sheet

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The Deal Sheet

SALES

NelsonHill’s Frank Melchert repped the seller, McNulty Construction/Lumber Street Supply, in the $4M sale of a 43k SF industrial building (above), 2009 S Lumber St, to U-Haul. U-Haul will use the two-story facility as a sales, storage, and distribution hub.

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Millennium Properties R/E repped the asset manager in the sale of a 41k SF retail center, 1401 S Fourth St in DeKalb, partially leased to Dollar General, a long-term tenant with more than six years remaining on its current lease plus renewal options. The new owners have the opportunity to develop a 25k SF outlot building.

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Keith Carter Enterprises, repped by CBRE SVP John Suerth, purchased 800-900 Enterprise Ct in Naperville. CBRE SVP David Prioletti repped the seller. The 35k SF facility will be the new location of Naper Gym and includes five additional acres for further development or expansion.

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Chicago Real Estate Resources broker associate Nate Gautsche repped Marc Realty Residential in the $2.3M short sale purchase of the properties located at 4421-4439 W Fullerton in Logan Square, which includes 38 apartment units and 10k SF of retail. 

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Colliers principals Jack Rosenberg and Frederick Regnery repped Klein Tools in the sale of a nine-acre land parcel at 7200 N McCormick Blvd in Skokie to Centrum Properties. Centrum is planning a 75k SF Mariano’s Fresh Market on the site, along with a Longhorn Steakhouse, a bank, and other retail facilities.

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CBRE SVP George Maragos and FVP Mitch Adams assisted Great Dane LP in the sale of 10.6 acres at 2726 S Leavitt to Swift Transportation Co of Arizona. The CBRE team previously assisted the subsidiary of CC Industries in the sale of 5.2 acres, including a 37k SF building, at 2555 S Blue Island.

LEASING

The Deal Sheet

NAI Hiffman EVP Larry Much, SVP Ben Cremer, and VP Michael Robbins repped Venture One Real Estate in its new 99k SF industrial lease with Owens Corning (repped by JLL’s Scott Deurkop) at 6969 W 73rd St (above) in Bedford Park. Venture One acquired the property last year and obtained a Class 6b incentive prior to leasing it to Owens Corning.

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Belmont Trading signed a long-term lease for a 69k SF industrial building at 900 Corporate Dr in Buffalo Grove. JLL’s Robin Stolberg, Keith Stauber, and Kurt Sarbaugh repped the landlord, while Interstate Tenant Advisors’ Brian Netzky and James Herbst repped the tenant.

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The Davis Cos’ 188k SF Edens Corporate Center, 630-650 Dundee Rd in Northbrook, has reached 90% occupancy. In the past 90 days, NAI Hiffman’s leasing team (led by Michael Flynn, Linda Garske, and Jason Wurtz) repped ownership in seven leases at the building, totaling nearly 36k SF. New tenants include IOR Global Services (repped by Keystone Realty Capital’s John Burns), Retail Solutions (repped by Tenant Advisors’ David EtsHokin), and GovTemps USA, while renewals include Mitchell Planning Associates (repped by Bespoke’s Victor Sanmiguel), Iron Financial (repped by CBRE’s Kevin Clifton), Lidemara Enterprises, and O’Halloran Kosoff Geitner & Cook (repped by ProTen Realty Group’s Gail Sturm).

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Cresa Chicago VP Chad Bermingham repped non-profit Alliance for the Great Lakes in a 6,674 SF lease at 150 N Michigan Ave. The space is larger and flexible layout will allow for up to 30 staff and interns at an affordable rent.

FINANCING

Associated Bank SVP Craig Przygoda managed the closing of a $2.2M loan to Shorewood Development Group for the acquisition and construction of a 10k SF multi-tenant retail center that will replace a closed restaurant on the NE corner of DeKalb Avenue and Gateway Drive in Sycamore.
 
CONSTRUCTION & DEVELOPMENT

Trader Joe’s opened in a neighborhood center at the SE corner of Milwaukee Avenue and Artaius Parkway in Libertyville. The center, developed by Paragon Real Estate, also includes a Sherwin Williams. CBRE’s Pam Miszkowicz and Marisa Roussel are representing the remaining 4,370 SF of space in the center.

EXECUTIVE MOVES

Industrial specialist Terry Grapenthin joined Lee & Associates of Illinois as principal. The 13-year vet was previously with Cawley Chicago Commercial Real Estate. His new position focuses on the I-55, I-80, and I-294 corridors, where he will provide services to both institutional and private owners of industrial real estate, as well as tenants and buyers.

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Kirstin Rogers joined Bradford Allen Realty Services as director in its Chicago tenant rep practice, also working with the corporate services team on business development strategy projects. She was most recently senior proposal manager and business development manager for JLL; she received her BA from Denison University and MA from the University of Missouri-Columbia.

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Marcus & Millichap Capital Corp named Peter Muntz director in the firm’s Chicago Downtown office. He was previously a distressed debt acquisition and asset management specialist for Colony Capital. He received an MBA from DePaul and is working on his MS in real estate law from John Marshall Law School. The firm also named Thomas Attak associate director in its Chicago O’Hare office, where he’ll specialize in financing self-storage properties. Thomas was previously senior account executive/relationship manager with Greystone Multiunit.

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Bridge Development Partners appointed Robert Dahlgren, previously president of RJD Property Advisors, to senior director of portfolio management. It also added Mark Houser, founder and president of Edgewood Development, as senior director of development. Internally, Steve Groetsema was promoted to director of development and leasing; Matthew Lucas was promoted to director of development; Amy McMurray was promoted to director of operations and a member of the firm’s executive committee; and Tricia Mangune was promoted to property manager.

BUSINESS

JBS Commercial Real Estate partners Brian Silverman and Jason Shibata have been named exclusive leasing brokers for a 230k SF office and industrial portfolio in Bensenville and Elk Grove Village. Two properties, a 117k SF warehouse at 710-854 Foster Ave in Bensenville and a 47k SF flex building at 1400-1538 S Elmhurst Rd in Elk Grove Village, are owned by American Landmark. A 65k SF office building, 729-765 N Route 83 in Bensenville, has an independent owner and is managed by American Landmark.

KUDOS

The Deal Sheet

SIOR’s Chicago Chapter presented the Richard G. Levy Presidents Award to John Girsch, who retired from John Girsch & Co last year. Each year the chapter president chooses a recipient due to their outstanding achievements both in and out of the industry. Snapped: David Liebman, 2013 Chicago Chapter president: Penny Levy; and John Girsch.