SALES
Jameson Commercial completed the $3.4M sale of a stabilized 50k SF office/flex building at 2130-40 W Fulton (above) in the Kinzie Corridor. The buyer, a subsidiary of Rubicon GSA II, was repped by Ari Topper and Joe Magliochetti. The seller was repped by Justin Collins.
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Kiser Group managing director John Meyer repped both sides in the $4.7M sale of Embassy Apartments, two 35-unit buildings at 40-42 S Shaddle Ave in Mundelein. The property consistently maintains 100% occupancy and includes 137 parking spaces.
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Jameson Commercial’s Esther Berman closed a $1.3M 7-Eleven ground lease with a gas station at 1230 Spring St in Elgin. The seller was a local developer and the buyer was a private trust.
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The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller, a local private investor, in the $1.5M sale of a single-tenant, net-leased, 3,900 SF Tuffy Auto Service Center (above) at 3190 N Aurora Rd in Aurora. The buyer was in a 1031 exchange. The property was built in 2007 and there are over 13 years of primary lease term remaining.
LEASING
Joe Caputo & Sons, a family-owned and operated fresh-market grocer, has opened as the new 66k SF anchor (in the former Dominick’s location) at Westwood Financial Corp’s Sanders Court retail center in Northbrook. The 136k SF center’s tenants also include Weight Watchers, Century 21, and Subway.
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Colliers EVP Thomas Vollini repped Turner Construction in a 9,805 SF long-term office lease at 1.6M SF 55 E. Monroe St. in the Loop. The company is relocating from another space within the building. GlenStar Properties’ Christian Domin repped ownership in the deal.
CONSTRUCTION & DEVELOPMENT
IDI Gazeley will begin development of 454k SF Antioch Corporate Center’s Building A in Antioch, the first in the planned 1.3M SF development. The property is located on Route 173, about 1.5 miles west of I-94 and a half mile east of Route 45. Construction is expected to be complete in early 2015. Colliers’ Jack Rosenberg, Fred Regnery, and Ned Frank will rep IDI Gazeley in the marketing of the property.
EXECUTIVE MOVES
Aries Capital tapped Rushi Shah as SVP with the firm’s originations and business development team. He was most recently VP of the derivatives credit risk and strategy group at Northern Trust and has more than 10 years of experience in the financial services industry. Rushi earned his Bachelor’s degree from the U of I and will earn his MBA from UChicago’s Booth School of Business in December.
