THE DEAL SHEET
| SALES | ||
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| Life Storage Centers bought the 177k SF 310 S Racine in the West Loop for about $8.9M from Helix Camera, long-time owner-occupant of part of the building. For now, the local camera store will remain in the building. L. J. Sheridan & Co repped the seller. *** Hamilton Partners is planning to buy Kraft Foods’ office campus in Glenview, which includes 500k SF of office space in two buildings on 57 acres. The deal is expected to close late next year, and afterwards Hamilton Partners may redevelop the site to include other uses, though no firm plans have been announced. Kraft will move its employees at the site to the company HQ in Northfield. *** Futuro Zuccher bought a 147k SF industrial building at 1145 101st St in Woodridge. Lee & Associates of Illinois principals Jeffrey Janda and James Planey repped the buyer, while Randall Koch, Fred Freeman, and Mitch Rothstein of Transwestern repped the seller. In a separate deal, Bravo Foxtrot Holdings purchased the 60k SF industrial building at 601 Russell Rd in Aurora. Jeff and Jim repped the seller, Weyerhaeuser Co, and Lee & Associates principal Mike Androwich repped the buyer. |
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| LEASING | ||
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Shorr Packaging Corp leased 36k SF of new space at 2560 White Oak Circle in Aurora to accommodate its expansion. The firm also renewed its lease for 34k SF within the industrial building at 880 North Enterprise St in Aurora (pictured). Paine/Wetzel/TCN Worldwide EVP Elise Couston repped Shorr Packaging Corp in both transactions. Colliers International’s Chuck Canale repped 2560 White Oak Circle’s owner, Panattoni, while 880 North Enterprise owner Duke Realty repped itself. *** The Philippine Consulate General of Chicago is expanding its Midwest headquarters to 7,400 SF and relocating to 122 S Michigan Ave under a long-term lease agreement. Sharon Valko of U.S. Realty Management Co repped the building’s owner, while Steinco Corporate Real Estate Advisors’ Patrick Brady repped the consulate. *** Comcast Spotlight, the advertising sales division of Comcast Cable, inked a 20k SF lease at 444 N Michigan. Cushman & Wakefield’s Lenora Adds repped the building in the 10-year lease, while REAL Partners Robert Peterson repped Comcast Spotlight, a longtime tenant previously occupying space on a lower floor. *** MB Real Estate represented three financial service firms in Chicago-area lease deals totaling 12k SF. David Fortosis repped Waterville Advisors in a lease renegotiation at 161 N Clark, with Joe Gordon of Tishman Speyer representing ownership. Konstantine Sepsis repped Prime Finance Partners in its lease renewal at 233 N Michigan, with Colliers International’s Christy Domin repping the owner, HUB Properties Trust. Konstantine, Daniel Nikitas, and Doug Noble also represented a private investment firm in a full-floor sublease at 676 N Michigan Ave. *** Acer America Corp renewed its lease for 276k SF of industrial space at Laraway Crossings Business Park in Joliet, which is owned by Ryan Cos. The space is part of a 374k SF facility on more than 32 acres and includes 4,900 SF of office space, 40 exterior docks, and 30-foot clear ceiling height. NAI Hiffman EVPs Steve Connolly and Eric Tresslar represented Ryan, while Jim Herbst of Interstate Tenant repped Acer. |
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| CONSTRUCTION & DEVELOPMENT | ||
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Summit Design + Build completed of City Winery Chicago, a fully operational urban winery and tasting room, restaurant with outdoor wine garden, concert hall, and private event space at 1200 W Randolph St in the West Loop. The property is the first offshoot of music and wine impresario Michael Dorf’s City Winery, which has been open in NYC’s SoHo since 2008. *** MedProperties Group completed its three-story, 75k SF multi-tenant MOB, the Lakeview Medical Campus, at 1333 W Belmont Ave in Lakeview. The project is over 70% leased by Northwestern Memorial Hospital. *** GLL Real Estate Partners is planning to spend more than $13M in a capital improvement program for 444 N Michigan. The program will focus on modernizing appearance, street presence, infrastructure, and elevators. A contract for over $3M has already been awarded to Schindler Elevator Corp to both modernize the elevator cabs and brings the entire system up to snuff. David Wall, head of US-based GLL Development and Management, also says that key public spaces—including corridors, rest rooms, lobbies, and entrances—are slated for refurbishment as well. *** Work has started on a new 15k SF service training center for Toyota Motor Sales USA in Aurora. Krusinski Construction Co is building the standalone facility between Toyota’s existing parts distribution center and regional office building. The service bay area of the building will include specialty equipment for training Toyota technicians in the use of new technologies found in its cars. |
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| EXECUTIVE MOVES | ||
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| J.C. Anderson has hired Greg Garland as senior estimator, while Matthew Kantro and Michael Ruffolo have joined the firm as assistant project managers. | ||
