THE DEAL SHEET
| CONSTRUCTION & DEVELOPMENT | ||
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A two-story, 51k SF addition to the College of Arts and Sciences at Valparaiso University has been completed. The addition provides new office and classroom space, is integrated into the campus’ Christopher Center Library, and is LEED silver. McShane Construction built the addition, which was designed by EHDD Architecture. *** Peerless Network, a provider of carrier interconnection services and enterprise telecom, has opened a data center and colocation facility at 840 South Canal St in the West Loop. The 12.6k SF facility will house the company’s network operations center, support ongoing network expansion plans, and help alleviate a shortage of colocation space in downtown Chicago, according to Peerless. *** Midtronics has completed a 16.4k SF buildout and 9,600 SF expansion at 7133 Monroe St in Willowbrook. The company develops technologies for battery management and operates its headquarters from 7000 Monroe, just up the street from the new location. Midtronics hired Morgan/Harbour to complete the expansion and renovation, with its construction team including Ben Warriner, Bob Papineau, and Keith Zagroba. |
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| LEASING | ||
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Stephen Gould Corp has leased a 70.7k SF industrial building located at 225 Springlake Dr in Itasca. Jim Planey and Jeff Janda, both of Lee & Associates of Illinois, repped the building’s owner, CenterPoint, while Bill Mass of Mass Realty repped the tenant. *** The Marketing Store Worldwide (TMSW), a subsidiary of the HAVI Group, has inked a 31.3k SF lease to consolidate and relocate its global corporate headquarters to 55 W Monroe in Chicago. Studley’s Robert Sevim and Joe Learner repped TMSW, while JF McKinney & Associates’ Jack McKinney Jr and Matt Lerner repped the Hearn Co, which bought the building early this year. *** Streamline Transport Solutions has leased a 58.6k SF warehouse at 1850 Greenleaf Ave in Elk Grove Village. Lee & Associates of Illinois’ Chris Nelson and Jeff Galante repped building ownership, Mirvac Industrial Trust, while Summit Realty’s Murray Karbin repped the tenant. *** Seven leased renewals at the Rogers Business Parke-Elgin in Elgin have been inked recently, for a total of about 40k SF, according to Arthur J. Rogers & Co, which owns the property. Arthur J. Rogers’ Chris Zannis handled the leases on behalf of his company. The tenants re-upping included Newhaven Display, Healthware Systems, Morse Electric, Hohner Stitching, Industrial Carpet, A1 Restoration, and Blue Star Machinery. *** Anthony Marano Co has leased about 4.3 acres adjacent to its current location at I-55 and Damen in Chicago for additional parking space. The company is one of the largest tomato distributors in the Midwest. Paine/Wetzel/TCN Worldwide’s Albert Schulman repped Anthony Marano. *** Patrick’s Gourmet Cookies has leased 3,500 SF at 1900 N Austin Blvd in Chicago to relocate its operations. The space is a fully equipped bakery. Paine/Wetzel/TCN Worldwide’s Albert Schulman repped both the landlord and the tenant. *** Mr. Chips Inc. has leased 6,200 SF of industrial space at 1380 Gateway Dr in Elgin. Lee & Associates of Illinois’ Nick Eboli and Steve Bass repped building ownership, Rothbart Realty, while Gay Crain of Brown Commercial repped the tenant. |
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| SALES | ||
Uni-Pacific International has bought a 20k SF warehouse at 1100 Remington Rd in Schaumburg. Mike Sedjo and Chris Zubel of CBRE repped the seller, while Lee & Associates of Illinois’ Ronan Remandaban repped Uni-Pacific International. *** Randy Vroom has purchased an 11.7k SF industrial building at 82 E Sauk Trail in South Chicago Heights. Lee & Associates of Illinois’ Brian Vanosky repped the seller, South Holland Paper Co. |
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| FINANCE | ||
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| PCCP has facilitated a $16.5M senior loan to Continental Properties for the refi of Aloft Chicago O’Hare, a 251-room, Starwood-flagged hotel at 9700 Balmoral Ave in Rosemont. Continental Properties completed the hotel in 2008. The property is connected via a sky bridge to the Stephens Convention Center. | ||
| EXECUTIVES IN MOTION | ||
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| Effective on the first day of 2013, John Morris will become leader of industrial services for the Americas for Cushman & Wakefield, succeeding EVP Jim Dieter, current head of the service line. John, currently the leader of the company’s global business consulting service line, joined the firm in 2005. Jim will remain with Cushman & Wakefield through '13 and work with John to facilitate growth plans for the industrial practice, which it says are aggressive. | ||
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| Chicago-based Interra Realty has named Craig Martin a director. Previously, he was with GEM Realty Capital, where he focused on asset management and financial reporting. The company has also hired Daniel Byrne and Greg Cartwright as associates. *** Rolling Meadows-based Bear Construction Co. has promoted Paul Larkin to VP of construction and member of the executive committee. Since joining Bear Construction in 2005, Paul has held the positions of project manager, senior project manager, and project executive. *** Laurence Elbaum, principal and co-founder of Bradford Allen Realty Services/TCN Worldwide of Chicago, has been re-elected chairman for the 2012-2013 TCN Worldwide board of directors. Originally elected to the board of directors in 2006, Laurence has served as the board’s chairman for the last two years. |
