HOLY SALES, BATMAN: THE DEAL SHEET
| SALES | ||
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| KBS Legacy Partners Apartment REIT bought the 256-unit, 97% occupied Avalon Lombard (to be renamed Martin’s Point) in Lombard. | ||
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| TIAA-CREF, repped by Cushman & Wakefield's James Carpenter and Jason West, sold the 747k SF, Class-A warehouse/office facility at 901 Carlow Dr in Bolingbrook to Heitman. It was leased to Home Depot at the time of the sale. | ||
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Venture One Real Estate's VK Industrial I fund acquired Romeoville's 62k SF 1225-1229 Lakeside Dr in the Marquette Business Park and leased half of it long-term to Tekkra Systems, which expanded from 16k SF. Cawley Chicago Commercial's Terry Grapenthin and Josh Hearne repped the buyer, Century 21 T K Realty's Linda Durec repped the seller, and NAI Hiffman's Michael Robbins repped Tekkra. *** Venture One also bought the 25k SF 189-191 Seegers Ave in Elk Grove Village's Centex Industrial Park and leased it long-term to Midco-Bay Insulation. Colliers' John Hamilton and Thomas Condon repped the seller, and CBRE's Pete Roberson repped Venture One in the acquisition, as well as Midco-Bay in its lease. *** Digital Realty Trust acquired a 575k SF redevelopment property (three buildings) on 22 acres on Grand Avenue, south of O'Hare, for $22.3M from the current tenant, which will occupy two-thirds of the property until Digital Realty Trust terminates the lease in response to data center demand. Phase 1 of the redevelopment (to be called Digital Chicago), six Turn-Key Flex PODs, will deliver by mid-2013. |
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Marcus & Millichap's Ryan Engle and Andrean Angelov repped the seller of the 18-apartment 8911–8927 Gerritsen Ave in Brookfield, and their colleague Eric Bell ID'd the buyer. *** Bianco Properties acquired the 21k SF Metropolitan Place Retail Shops retail condo at Canal and Adams streets in the West Loop. The storefronts are leased to CVS Pharmacy, Starbucks, H&R Block, and Jimmy John’s. Mid-America Real Estate Corp’s Ben Wineman and Heather Rink repped the seller, Syndicated Equities. *** Bridge Development Partners bought two industrial properties from Lawson Products: the 103k SF 600 Corporate Woods Dr in Vernon Hills and the 86k SF 4350 Pinehurst Blvd in Addison. Wanxiang America Corp provided capital and Associated Bank put in debt. Lawson—repped by Colliers' Mike Senner, Jack Rosenberg, Fred Regnery, and Ned Frank—will lease them back until it completes its consolidation into a build-to-suit in McCook this summer. *** Car-customizing company Touge Factory Racing & Apparel, repped by Avison Young's John Hauser, bought the 31k SF 2181 S Foster in the aptly named Wheeling. Paine/Wetzel/TCN Worldwide's Whit Heitman, Sam Badger, and Bradley Weiner repped the seller, Scherston Real Estate Investments. ***
*** Magna Group, repped by Cushman & Wakefield's Al Caruana and Britt Casey, bought four acres at the southeast corner of Devon and Ellis in Bensenville from Mach XVIII. The industrial site can accommodate a 60k SF build-to-suit. *** Marcus & Millichap's Sean Sharko and Austin Weisenbeck arranged the $2.2M sale of a 21k SF ground lease for a PNC Bank at Grand Avenue and York Road in Bensenville. |
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| LEASING | ||
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Midwest Warehouse, repped by HSA Commercial Real Estate's Brad Borkowski and Tim Thompson, leased 60k SF in Aurora's 2707 Eola Rd in the I-88 corridor. CBRE's David Prioletti and Kip Hennelly repped the owner, Manulife. *** Brad also repped Best Warehousing & Transportation Center in a 56k SF renewal in DCT Industrial Trust's 1801 N Hawthorne Lane in West Chicago. CBRE's David Prell and Kirk Armour repped the owner. *** Dallas-based Studio Movie Grill entered the Midwest with a 38k SF lease at Wheaton's Rice Lake Square, opening in Linens ‘n Things' space on Friday. Mid-America Asset Management's Marget Graham and Katie Hennegan repped the landlord, Grosnover Americas, and West Suburban Real Estate Group's Jim Erdman repped the tenant. *** EnTech USB, repped by Paine/Wetzel/TCN Worldwide's William Berndt and Ed Barnett, renewed its 2,000 SF lease in 8700 W Bryn Mawr. GlenStar Properties' Bill Debb and Dave Trumpy repped the landlord, PR II Presidents Plaza JV. |
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| CONSTRUCTION & DEVELOPMENT | ||
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Development company Irgens selected Peak Construction to build a 22k SF MOB at Route 59 and Dayfield Drive in Plainfield,
to deliver this fall. Edward Health Ventures will occupy 14k SF.
Eckenhoff Sauders is the architect and CBRE the project manager. *** GlenStar Properties' $150M, 446k SF HQ for Astellas Pharma has delivered in Northbrook. MB Real Estate's Andrew Davidson, David Burkards, and Kyle Robbin s worked on the building for project manager MB Real Estate. |
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| EXECUTIVE MOVES & NEWS | ||
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MB Real Estate hired Amanda Coupe
as VP of asset management. She joins from Argoneo Real Estate in
Frankfurt, Germany (related to Morgan Stanley Real Estate). She has also
worked for Golub & Co and The John Buck Co in Chicago. *** Reed Construction hired Becky Ortiz as senior project account. Previously, she worked at Tonn and Blank Construction. *** Michael O'Leary joined Cawley Chicago after working in construction on residential and commercial renovations. He'll rep industrial owners and tenants in the North and Northwest suburbs. |
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