Hines, KBS Close 300 N. LaSalle; The Deal Sheet
| On Friday, Hines announced the sale of 300 North LaSalle to KBS Realty Advisors, a Southern California investment firm. Financials on the deal were not disclosed. The Chicago office of HFF repped Hines while KBS represented itself. | |
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| The 60-story tower contains 1.5M SF and was awarded LEED Gold. It was designed by Pickard Chilton and developed by Hines in 2009. Hines will continue to manage the property, which is 96% leased to Kirkland & Ellis, the Boston Consulting Group, GTCR Golder Rauner, Quarles & Brady, and Aviva USA, among others. | |
| Leasing Parkway Properties has signed an early renewal and expansion with United States Cellular Corp. for 212k SF at Citicorp Plaza. The renewal extends US Cellular's lease expiration through Oct. 31, 2017. Citicorp Plaza is owned by Parkway Properties Office Fund LP, and Parkway's share of ownership is 40%. J.F. McKinney's Dru Shoemaker, Matt Pistorio, and Brian Whiting repped the building's ownership. CBRE's Bob Reaumond and James Whalen represented U.S. Cellular. *** Lee & Associates' John Cassidy and Ken Franzese represented Touchpoint Logistics in a 100k SF warehouse lease at 4001 Rock Creek Blvd. in Joliet. Avison Young's Mike Fonda, Hugh Williams, and Brian Kelly represented building ownership, IDI. *** Lee & Associates' Mike Plumb represented United Delivery Service in the leasing of 47k SF of industrial space located at 700 Rohlwing Rd. in Itasca. NAI Hiffman's Brian Colson and Eric Fischer at NAI Hiffman represented building ownership, AMB. *** Transwestern's Tony Karmin and Scott Becker represented Thompson Flanagan & Co. in a long-term 10k SF lease at 626 W. Jackson Blvd. Thompson Flanagan will relocate from 150 North Wacker Dr., where it currently occupies 5k SF. The landlord was represented by Sterling Bay Cos.' Andy Gloor. ***
*** A.G. Transportation has leased a 13k SF industrial building located at 34 Official Rd. in Addison. Lee & Associates' Nick Eboli represented building ownership, Edgewood Construction. ***
*** ProDance Elite has leased 5k SF of industrial space located at 2652 Corporate Pkwy. in Algonquin. Lee & Associates' Steve Bass and Nick Eboli represented building ownership, Rothbart Realty/Construction. *** UGL Equis was awarded a national broker contract with the General Services Administration. This contract provides UGL Equis access to perform lease acquisition and construction administration services for the GSA and its wide range of Federal Agency clients across the country. After successful completion of the Space Acquisition and Construction Administration Program for the Census 2010, this contract further extends the 13-year relationship between UGL Equis' government services group and the GSA. UGL Equis is one of four vendors to receive an award under this new contract. The start date for this new contract is Oct. 1 and has a one- year base term with four one-year option periods. Sales *** Sperry Van Ness' Jeffrey Baasch closed two bank-owned mixed-use properties; a 28-unit building located at 7847-53 S Essex Ave. in South Shore, and a four-unit building located at 6323-25 W. Belmont in Belmont Cragin. *** Marcus & Millichap's Bruce Harris brokered the sale of Sports Authority Plaza, a 64k SF shopping center in Calumet City. The buyer is a private investor out of the New York City area, which completed a 1031 Exchange with the purchase of the property. *** Paine/Wetzel • ONCOR International's Michael Nelson and Mark Nelson have completed a 2.4-acre land sale for SRA Scrap Metals at 3405 S. Lawndale in Chicago. Value of the transaction was $900k. SRA purchased the parcel as well as the Gonzales Auto Parts business. The scrap metal processing company plans to combine their operations with the auto salvage business. Finance Auctions Management News Executive Moves *** Brian Scruggs has joined CB Richard Ellis as manager in the tenant rep group. In this position, he will oversee the group, providing CBRE professionals detailed financial and analytical consulting. With more 10 years of industry experience, he was at AMB Property Corp. where he was responsible for the acquisition of over 7.2M SF of industrial real estate. Brian received his BS in engineering from Vanderbilt University. *** Doug Tarr has joined Foresite Realty, where he is now responsible for overseeing the leasing and marketing efforts for its Chicago area commercial real estate portfolio. He has 29 years of experience in brokerage and representation assisting both landlords and tenants. He joins from Inland Real Estate Group, where he was regional director of leasing. *** Nick Siorek has joined Reed Construction as project manager within its Healthcare Group. He will be directly responsible for overseeing the firm's many healthcare projects. Nick was previously employed with the University of Chicago Medical Center as a project manager where he completed multiple healthcare renovations He received his BA in Interior Design from the International Academy of Design & Technology. Construction |
