THE DEAL SHEET
| SALES | ||
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The Davis Cos has acquired the Edens Corporate Center, an eight-acre property featuring twin 188k SF four-story office buildings at 630 and 650 Dundee Rd
in Northbrook, for an unspecified price. Recent activity at the
property includes the inking of an 11-year lease for 5,896 SF by Brown
CPA Group. NAI Hiffman’s Jason Wurtz, Michael Flynn, and Linda Garske repped the Davis Cos, while CBRE’s Hank Cox
repped Brown CPA Group. Jason, Michael, and Linda also repped Davis
Cos in a 2,818 SF lease expansion by Blue Chip Marketing. Colliers
International’s Chris Cummins repped Blue Clip. *** Atlantic Track bought a 10k SF building on 34 acres at 2665 State St in Chicago Heights. Scott Anderson and Walter Murphy of Lee & Associates of Illinois repped Atlantic Track, while Jeff Locascio of Newmark Grubb Knight Frank repped the seller. In a separate deal, Walter repped Bimba Manufacturing in the sale of a 36.8k SF manufacturing building at 500 Spruce Rd in Manteno to 500 Spruce LLC. *** |
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Dearborn Street Holdings has sold 479 Quadrangle Dr in Bolingbrook, a commercial condo that contains 4,000 SF of office space and 2,660 SF of warehouse space, to Freedom Wireless, the owner of multiple Cricket Wireless stores. The buyer plans to use the space as its HQ. NAI Hiffman's Adam Johnson and Leslie Yurek, formerly of NAI Hiffman, repped Dearborm Street Holdings, while Churchill Realty’s Vick Mehta repped Freedom Wireless. |
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| Fatty’s Burgers & More bought 1903 Church St in Evanston, a location opposite Evanston Township High School, and plans to open a burger joint there this month. The new Fatty’s Burgers represents the first location outside of Texas for the chain, which is based in San Antonio. Adam Salamon repped the owner of the location, which was previously occupied by Bop N Grill. | ||
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| LEASING | ||
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Bridge Development Partners leased more than 174k SF at two Chicago-area industrial properties owned with its JV partner, New York Life Investments:
*** Law firm Polsinelli Shughart’s Chicago office is expanding to a third floor in the Chicago Title and Trust Building, 161 N Clark St, taking an additional 18k SF. The firm is growing fast: in its current fiscal year, 18 lawyers have joined the Chicago office, bringing the total to 64. Cushman & Wakefield repped Polsinelli. *** FDP USA has leased of 67.8k SF of warehouse space at 485 Crossroads Pkwy in Bolingbrook. Lee & Associates’ Mike Prost and Sergio Chapa repped FDP, while Cushman & Wakefield’s Jason West, Sean Henrick, and Mike Magliano repped building ownership, Prologis. *** Rehrig Pacific Logistics has extended and expanded its lease of extension 113.8k SF of industrial space at 2700 McDonough, Joliet. Colliers International’s Peter Bourke and Vern Schultz repped building ownership, while Lee & Associates’ Justin Fierz and Brian Vanosky, repped Rehrig Pacific Logistics. |
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| CONSTRUCTION & DEVELOPMENT | ||
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| Ground has been broken for Sarah’s Circle home for women at 4836 N Sheridan Rd. Sarah’s Circle provides support services such as life necessities, including 50 overnight beds, case management, clinical counseling, referral services, educational programming, and housing and employment assistance for women who are homeless or at risk for homelessness. Summit Design + Build is building the new facility, while Mayer Brown and Perkins + Will provided pro bono services for the development. Pictured: Perkins + Will’s Marius Ronnett and Peter Frisbee, Summit Design + Build’s Josh Halagiere, Perkins + Will’s Christopher Hale, Summit Design + Build’s Adam Miller, and Sarah’s Circle’s Kathy Ragnar and Judy Krueger. | ||
| FINANCE | ||
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| Related Midwest closed on a $115M construction loan for 111 W Wacker, which it plans to develop as a 504-unit apartment complex. Originally planned for the site was a hotel/condo development, but the recession put the kibosh on construction. In 2011, Related acquired the unfinished structure (pictured around the time of the acquisition) and demolition is under way, with construction is slated to begin in early 2013. US Bank provided the loan. | ||
