THE DEAL SHEET
Leasing
Paine/Wetzel · ONCOR International completed six transactions totaling more than 23k-SF.
- Woodland Foods leased 14k-SF at 1949 Swanson Court in Gurnee. Paine/Wetzel's Whit R. Heitman and Samuel C. Badger, Jr. represented Woodland Foods; Tri-State Realty's Rob Elbrecht represented the landlord.
- AmeriJet International Inc relocated from Elk Grove Village to 674 County Line Road in Bensenville. The firm signed a lease for 9k-SF. Paine/Wetzel's G. Pat Ryan a nd William J. Kerrins repped AmeriJet International; Delta Real Estate Co.'s Kevin Luke repped the landlord, Genosa Partners.
- NSA Security, Inc relocated into an 8k-SF space at 2540 S. Federal Street. Paine/Wetzel's Michael D. Nelson a nd Mark A. Nelson represented the landlord, 2526 S. Federal LLC. The tenant was represented in-house.
- A medical facility owned by Dr. Nasor Rustom signed a lease for an entire building, consisting of 7k-SF located at 4354-4400 W. 63rd Street in Chicago’s Southwest side. Nelson and Nelson represented the landlord, while Paine/Wetzel's Albert Schulman repped the tenant.
- MedWell RX signed a new 3k-SF lease at 600 Northgate Parkway, Suite 6 in Wheeling. Paine/Wetzel's Elise A. Couston and Patrick Fitzgerald represented the landlord,Chicago Properties LLC; Stone Real Estate's Jason Gustaveson represented the tenant.
- State Farm Insurance Company has relocated from 5520 W. Lawrence Avenue in Chicago to 5372 N. Milwaukee Avenue. The company purchased the 2k-SF building to use as office space. Paine/Wetzel's Nelson, Nelson, and Kim Aigner repped the owner Lee Drabek, while Koenig & Strey's Pattie Murray represented the tenant.
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Regus signed a lease for 30k-SF at 22 W. Washington Street in Block 37. The owner, Golub, was represented by Peter Merrion in house. MB Real Estate's Daniel Nikitas represented the tenant.
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Lee & Associates' Steve Bass represented Nobu Nutritional Bakery in the leasing of 6k-SF of industrial space at 1261 Wiley Road in Schaumburg. Lee & Associates' Ronan Remandaban represented building ownership, Finch & Barry.
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Lee & Associates' Walter Murphy represented Duffy Box in the leasing of 26-SF of warehouse space at 5010 W. 123rd Street in Alsip. Walter also repped building ownership, Madison Partners.
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Sodexo America is relocating its operations and leasing space at 3709 N. 25th Street in Schiller Park due to a change in its business model. Podolsky Northstar CORFAC International completed the lease transaction, representing building ownership, KTR Capital. KTR was able to accommodate Sodexo’s new requirements in another building nearby. The new space being leased by Sodexo totals 7k-SF and will include approximately 1k-SF of office space. Podolsky's Randy D. Podolsky and Adam Tarantur, represented KTR. UGL Equis' Robert Blumenthal represented Sodexo.
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The Management Association of Illinois completed a renewal of its lease for 13k-SF at 1400 Opus Place in Downers Grove. Podolsky Northstar CORFAC's Corey B. Chase completed the tenant rep assignment at the building owned and managed by Duke Realty. The Management Association of Illinois will continue leasing space on the fifth floor of the nine-story, 222k-SF building that was developed in 1986. It has been a tenant of the building since 2003.
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Lee & Associates' C.J. Kuehl and Ellen Steinbrecher recently negotiated three leases:
- 10 S. Riverside Plaza in Chicago, on behalf of OptionMonster for 15k-SF of office space. The sublandlord,DRW Holdings, was represented by SteinCo's Chris West.
- 990 River Drive in Glenview, on behalf of L2T Media in leasing 3k-SF of office space. The owner was represented by HSACommercial Real Estate's Wayne Shulman.
- 30339 Diamond Parkway in Glenwillow, Ohio on behalf of tenant MAT Holdings in a long-term lease for a 156K-SF of industrial space. The landlord, Diamond Center One , was represented in-house.
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Lee & Associates completed a long-term lease for a 13k-SF of office space located in the tower portion at 135 S. LaSalle Street. Lee & Associates' June Simonian represented the tenant, GaiaTech. Faye Oomen represented the owner, Amtrust Realty.
Construction
Reed Construction completed 24k-SF of white-box spec suites within 500 N. Michigan Avenue. Reed was hired by Zeller Realty Group, property manager of the 24-story Magnificent Mile high rise, to complete a major building upgrade. Reed's Jack Hennessy was the senior project manager. Hydzik Schade Associates provided the architectural services.
People news
Jeffrey G. Bucaro has been promoted to SVP at Aries Capital. In his previous role as VP, Jeffrey was responsible for biz dev and structured finance for commercial real estate transactions ranging between $5 million and $100 million. He completed his Master of Business Administration with a concentration in Commercial Real Estate Finance and Investment at DePaul.
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Morgan Realty Partners' Sue Anderson is serving as Suburban Chicago President of the Building Owners and Managers Association. Sue has been with Morgan Realty Partners for over 12 years. She has been an active member of BOMA Suburban Chicago where she was granted the organization’s Real Property Administrator (RPA) designation. Additionally, Anderson was named BOMA Suburban Chicago Member of the Year in 2005 and served as the local chapter’s VP for the past four years.
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Emily VanderBeek has joined Titan Commercial, a real estate brokerage firm affiliated with Magellan Development, as a marketing director. Prior to joining Titan, Emily spent 2 1/2 years as marketing coordinator with Coating Specialist Group (CSG). She holds a degree in journalism from Michigan State and is currently studying for a master’s degree in PR and advertising from DePaul.
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Thomas Kerwin, David Brininstool, and Brad Lynch announced the opening of their new architecture firm, Brininstool, Kerwin and Lynch. It started when Thomas left as a managing partner at Skidmore, Owings & Merrill, Chicago, to team up with David and Brad of Brininstool + Lynch. Thomas will serve as managing principal, while David and Brad will serve as principals.
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Ben Andrews has joined Sperry Van Ness in downtown Chicago as a senior advisor in the retail division. Ben came to SVN from SRS Real Estate Partners. Current and former clients of Ben's include: Steak ‘n Shake, Citibank, Cricket Communications, Epic Burger, Marbles: The Brain Store, Caribou Coffee and Westwood Financial
Seeking Space
Optimal Energy has retained Podolsky Northstar CORFAC International's Corey Chase to conduct a search and provide advisory services for acquiring a 15k-SF facility. Currently located in leased space in Arlington Heights, the company is looking to explore the opportunities and benefits that building ownership provides. It hasn't determined a specific geographic location, but seeks a building site of approximately 3.0 acres and a fenced-in contractor’s yard.
Sales
Quantum Real Estate Advisors brokered the sale of two mixed-use properties to local investor Glascott and Associates. Both properties have retail and apartment components and are located at 1670 W. Division Street and 1920 W. Division Street in Wicker Park. The buyer purchased the properties for $3.64 million. Quantum's Chad M. Firsel represented the buyer. The property was acquired from a local real estate investment and development company.
