THE DEAL SHEET; Two Sign at 353 N Clark
| Tishman Speyer has signed two leases at 353 N Clark, the Class-A office tower it acquired in December 2010. |
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| Ventas signed a direct lease for 29k SF. Separately, Ventas is subleasing additional space from an existing tenant. US Equities'Geoff Euston and Meredith Soren repped Ventas, while Tishman Speyer’s Joe Gordon and Jon Cordell represented ownership. Also,IntercontinentalExchange signed a renewal at the building and expanded to 28k SF, an increase of over 5,000 SF. ProTen Realty's Renee Betzelos represented the tenant while Joe and Jon again repped ownership. |
*** Henry Bros Co has begun construction on a new 34k SF seminary building for St Joseph College Seminary and Chapel at 1120 to 1132 W Loyola Ave. The new, free-standing space will provide a chapel for religious services, a library, a community room, a full-service kitchen, and a dining room. There also will be admin offices, an exercise room and a game room. The living quarters will include 17 suites with 40 beds for seminarians and six single-occupant professor/priest rooms. The project is scheduled for completion in May 2012 and was designed by Solomon Cordwell Buenz. EXECUTIVE MOVES
*** Ed Connealy has joined Wilkhahn in Chicago as a sales manager. He joins Samuel Gowland and Jessica Santos on the growing Wilkhahn team in the city. MANAGEMENT NEWS
LEASING NEWS
*** Advocate Trinity Hospital has signed a long-term lease to operate a 3,600 SF wound care clinic in the 1100 block of E 87th St in the Greenwood Place Office Center. CBRE's Jon Springer and Gary Fazzio repped the tenant and HSS Management's Michael Horne repped the landlord. SALES NEWS |
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| Bixby Bridge Capital and Franklin Partners have partnered to acquire 55 Shuman Blvd, a 205k SF office building in Naperville. Known as MetroWest, the property was designed by Helmut Jahn with a distinctive N-shaped sloping façade. Terms of the all-cash transaction were not disclosed. The owner of record will be BBC MetroWest LLC. The 10-story office building is visible from Interstate 88 and offers suites from 2,000 to 60k SF. Tenants include Dun & Bradstreet and Wells Fargo. JF McKinney & Associates will be named the exclusive leasing agent. Franklin Partners will be the property manager. *** Fifield Cos and its JV partner, Pacific Life Insurance Co. have announced their two Class-A luxury apartment complexes in Chicago’s West Loop are available for sale. Echelon and Alta at K Station. The two complexes can be sold individually or together. CBRE's John Jaeger and Dan Cohen are representing the sellers. Alta includes two towers totaling 848 units, while Echelon is 350 units. *** HFF's Matthew Lawton, Marty O'Connell and Sean Fogarty have been named to market Aspen Place Apartments, a 416-unit, value-add multi-housing community at 826 Terrace Lake Dr in Aurora. HFF is selling the property on behalf of Kensington Realty Advisors. The 96%- leased property has 50 residential buildings with one- and two-bedroom apartment homes and townhome units averaging 1,061 SF each. *** Milleinnium Properties R/E's Greg Block sold a car wash at 3060 N Elston in an all-cash deal for an undisclosed sum. The 7,700 SF building was purchased by Anthony Bottalla from Quality Properties Asset Management Co, an affiliate of Bank of America. Greg represented both parties. *** Titan Commercial's Dan Steinberg repped seller Ranbil Ltd in the sale of a net-leased Buffalo Wild Wings at 461 S Randall Rd in Algonquin. The 6,250 SF property sold at an 8.7% cap rate. Interline Properties represented the buyer, a private investor. Midwest Community Bank of Rockford provided $3M of financing. *** A 5,690 SF net-leased MOB leased by Fresenius Medical Care at 4800 N Kilpatrick Ave was sold. Titan Commercial's Ben Rosenfield repped both the seller, Rockford 550 LLC, and the buyer Kilpatrick 5.0 LLC. The property sold at the $1.3M asking price with a 7.5% cap rate. *** Kudan Group negotiated a business sale of ViaGelato located on 1853 Tower Dr in Glenview. Kudan Group's Jim Martin represented the seller, Ron Dean. Kudan Group's Jarrett Fradin represented the buyer, Mike Saivie. The pre-existing business will soon introduce Belgian waffles to the cafe menu. *** Kudan Group’s Scott Reinish and Frank Trenholm negotiated the business sale of The Chicago Loop restaurant at 7 W Streamwood Blvd in Streamwood. Scott and Frank represented the seller, Arnie Reisler and buyer, Mike Manzuk. LEED CERTIFICATION The eco-office of the Environmental Law & Policy Center, built by Leopardo during the summer of 2010, was recently awarded LEED Platinum. Green elements include maximum use of natural daylighting, HVAC building automation systems, low-flow plumbing fixtures, low VOC materials, and construction waste diversion. The 12k SF workspace in the historic Jewelers Building was completed in August. |
