Neuberger Berman signed a 52K SF lease at 191 North Wacker in the West Loop.
The investment firm will move to the top two floors of the 734K SF building.
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Savills' Robert Sevim and Jim Wenk oversaw lease negotiations for Neuberger Berman and were supported by Adam Southard.
“It is exceedingly rare to see top two floors of prime office space available in the West Loop and the top block of space is part of the original anchor tenant’s space in the building,” Wenk said in a press release. “This is a perfect match of tenant and landlord.”
SALES
Paragon Micro bought a 51K SF industrial building at 901 Deerfield Parkway in Buffalo Grove for about $4.2M from Awaken CTTE. Lee & Associates’ Tom Boyle represented the buyer while Hiton & Associates' Rick Hiton represented the seller.
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A local 1031-exchange buyer acquired a 13K SF Walgreens property at 4704 S. Halsted St. in an all-cash deal for $2.1M. Marcus & Millichap’s Sean Sharko and Austin Weisenbeck brokered the deal on behalf of the seller.
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An undisclosed buyer purchased a 4-acre industrial outdoor storage property at 2351 Powis Road in West Chicago for $4.2M. NAI Hiffman's Kelly Disser, Michael Freitag, Bill Byrne and TJ Feeney represented the seller, a private investor group.
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A Colorado-based investor purchased a three-suite retail strip property at 9380 W. 159th St. in Orland Park for $2.9M from SB 85. Marcus & Millichap’s Sean Sharko and Austin Weisenbeck brokered the deal on behalf of the seller.
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An out-of-state professional ownership group paid about $7M for a 22-suite retail property at 1550 N. Illinois Route 59 in Naperville. Marcus & Millichap’s Sean Sharko, Austin Weisenbeck and Adrian Mendoza brokered the deal on behalf of the seller.
LEASES
Redmond expanded its Chicago headquarters with a 14K SF sublease at 125 S. Wacker Drive. The company will move from River North to the Loop, reflecting its “confidence in the future of the commercial office sector in Chicago’s Loop and surrounding submarkets,” Jamie Redmond, partner and chief operating officer at Redmond, said in a release.
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Arjo North America signed a 35K SF lease for its North American headquarters at Bell Works Chicagoland at 2000 Center Drive in Hoffman Estates. Arjo will vacate 62K SF at 2349 W. Lake St. in Addison when it moves in the fourth quarter. Colliers’ David Burden, Tom Beraducci and Andy Gooliak represented the firm.
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