THE DEAL SHEET
Leasing
Probat, a coffee roasting machine manufacturer, signed a 10-year lease for a 48k-SF industrial warehouse, expandable by 20k-SF at 601 Corporate Woods Parkway in Vernon Hills. CB's Keith Puritz,Brett Kroner, Ryan Bain, and Zach Graham repped Corporate Woods Investors in the transaction. Entre Commercial's John Gazzola negotiated on behalf of Probat.
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Barnett Capital signed a long-term lease to take 47k-SF with Noise Barriers at 2001 West Kelley Court in Libertyville. Barnett was represented by CB’s Keith Puritz, Brett Kroner, Ryan Bain, and Zach Graham.
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DePaul University has relocated its O'Hare Campus to 38k-SF at Triangle Plaza, 8770 W. Bryn Mawr Ave. in Chicago. CB’s Chad Freese and David Saad represented the university. The campus is relocating from Des Plaines and classes at the new facilities will begin in September.
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Rusber Garcia leased 14k-SF at 2301 W. 57th Street for truck repair work. Chicago Industrial Real Estate's Colin Green and Matt Rogatz represented owner 5701 Claremont Building Corp.
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National Micro Rentals, based in New Jersey, leased 6k-SF at 2101 S. Peoria in Chicago. Chicago Industrial Real Estate's Matt Rogatz and Cesar Alvarez represented the owner. Prudential Rubloff Properties' Tracy Gola represented the tenant.
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Paine/Wetzel-ONCOR International completed three leases totaling 29k-SF in the Chicago metro market.
- EMC, a heavy equipment repair company, signed a new lease for 16k-SF at 4850 S. Kilbourn in Chicago. PaineWetzel's Rodger Chenore, Jeffrey Girling, and Terence Lynch represented EMC. The landlord, St. Andrews Co., was represented in-house.
- Rebuilders Parts Warehouse, a lighting supplier, has signed a 10k-SF lease at 1008-1012 Northpoint Boulevard in Waukegan. Paine/Wetzel's Whit Hietman and Samuel Badger Jr. represented the landlord, Rothbart Realty & Construction.
- Elite Cartage has signed a 4k-SF lease at 6200 W. 51st Street in Chicago. Paine/Wetzel's Michael Nelson and Mark Nelson represented the landlord, 6501 Corp.
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Arrow Plastics, a manufacturer and distributor, has signed a 32k-SF lease at 2601 Allen Drive in Elk Grove Village. Paine/Wetzel's Elise Couston repped the tenant while CB's Pat McCourt represented the landlord, Chancellory Business Park.
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OHL, a diversified third-party logistics company, is leasing a 184k-SF LEED-Silver warehouse at 1150 115th St in Bolingbrook. Champion Realty Advisors' J.D. Salazar repped the tenant. IDI's Jeff Smith and NAI Hiffman's Ben Cremer and Mike Robbins repped the landlord, IDI.
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Inland Real Estate Corp. announced the grand opening of Franco Tricoci, a day spa and hair salon at Woodfield Plaza in Schaumburg. The salon signed a 5k-SF lease at the center, which is owned by Inland.
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Financial services firm UBS renewed its lease for 400k-SF at One North Wacker Drive, and will remain the lead tenant at its namesake tower. Located in the West Loop, the 51-story, 1.4M-SF tower is 98% leased. The building was completed in 2001 and was acquired in 2008 by a subsidiary of the Hines U.S. Core Office Fund LP. Hines leases and manages the property. Jones Lang’s Jack Keenan and Robert Schmidt repped UBS. Hines was repped in-house by Tom D’Arcy, Tom Irvine and Agnes Olejniczak.
Company News
Jones Lang is featured in the new Harvard Business Press bookReorganize for Resilience: Putting Customers at the Center of Your Organization. In it, Harvard Business Professor Ranjay Gulati explains how companies have overcome built-in institutional obstacles by reorganizing their structure and capabilities to be proactive, flexible, and truly customer-centric. JLL is featured prominently for embracing an outside-in perspective that focuses on creatively delivering value to customers instead of pushing its own offerings.
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The Indiana chapter of the NAIOP named Opus North Corp.'s Opus Landmark at Meridian its office development of the year. Located in Carmel, Ind., Opus Landmark is a three-phase, design-build-to-suit project for The Capital Group Cos. The Class-A office development encompasses a five-story, 175k-SF building, and a one-story, 31k-SF building on a 23-acre campus.
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CB has been named to the prestigious Companies That Care Honor Roll for the third year in a row. Companies on the Honor Roll demonstrate employer practices that signify strong commitment to employees and communities, as determined by Center for Companies that Care. The selection is made by an independent panel of seasoned professionals in a variety of industries.
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Modern Healthcare magazine recently ranked Leopardo as No. 18 on its list of the top healthcare general contractors in the US. Companies are ranked by 2009 dollar volume. Leopardo’s specialized healthcare practice has built more than 35 Chicago-area hospitals and constructs about 75 projects per year.
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Morgan / Harbour Construction’s Village of Wheeling Public Works build-to-suit has been awarded the 2010 Project of the Year Award by the Chicago Metropolitan Chapter of the American Public Works Association and will advance to the national competition. Morgan / Harbour was the design-builder for the new 136k-SF two-story, build-to-suit public works facility for the Village of Wheeling at 77 W. Hintz Road. Wheeling also recently selected Morgan / Harbour as the general contractor for a 45k-SF project for the Police Department, which will include the addition of a new 911 Center and renovated locker room facilities.
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Steinco Project Management, an operating division of Steinco Inc., has been renamed Steinco Studio to better convey its capabilities.Stephen Monaco has been named director of design and construction at the Studio, a LEED-accredited in-house project team of architects, construction managers and IT consultants specializing in assisting office tenants locally and nationally. As a licensed architect, Stephen will serve Steinco Studio clients from the acquisition of real estate to construction.
Sales
Hexion Specialty Chemicals has sold LakeView Corporate Park East at 8601 95th Avenue in Pleasant Prairie, Wis. Emco Chemical Distributors purchased the 260k-SF industrial warehouse building for an undisclosed amount. The asking price was $11.3M. CB's Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham were the sole brokers in the transaction.
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Chicago Industrial Real Estate found a buyer, Ben Shapiro, for their 6k-SF listing at 438 W. 43rd Street in Chicago. Ben purchased the property as an investment because of strong leasing demand for small industrial buildings with secure outside storage. CIRE's Matt Rogatz and Colin Green represented the seller, WHL Properties.
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Paine/Wetzel-ONCOR International has completed the acquisition of a 31k-SF industrial building at 2733 W. Harrison Street in Chicago on behalf of Diana’s Bananas. The chocolate-covered frozen bananas producer is relocating from the Kinzie corridor. Paine/Wetzel's Michael Nelson and Mark Nelson represented Diana’s Bananas while Camins Tomasz Kritt's Nick Saraceno represented the building owner, Tomahawk Packaging.
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Life Care Services of Des Moines, Iowa, recently announced the acquisition of Wyndemere Senior Living Community in Wheaton. LCS was selected by the community’s former owner, Central DuPage Hospital after a search to identify an organization with expertise in senior care. As part of the transition, CDH and LCS will jointly make an additional $2M capital investment in the Wyndemere campus. LCS' Erin Donaldson was recently appointed as executive director.
Auctions
Jameson Real Estate and Fine and Co., a real estate auction and advisory firm, have joined to offer auction services for residential and commercial properties. The first auction will feature 30 luxury residences at 1400 Lake Shore Drive, a historic condo building in Chicago's Gold Coast developed by RDM Development. This is only the second time a developer has offered condos on Lake Shore Drive. The auction is 11 a.m., April 25 at the Doubletree Hotel Chicago, 300 E. Ohio St.
People
Bob Peterson has joined Grubb & Ellis as managing director of corporate services. Peterson will oversee the company's corporate services offerings to corporate clients. Bob was most recently an EVP with NAI Hiffman. He received his bachelor's degree from Miami University.
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Inland Real Estate Brokerage announced its top performers of 2009 at the annual “Sales Associate of the Year” awards ceremony. Paul Montes, senior commercial broker at the Oak Brook office, was honored with the top award, “Sales Associate of the Year.” Paul shared the spotlight with Eric Spiess, commercial associate. Montes and Spiess completed more transactions in 2009 than in 2008, including the recent completion of three leases in Michael Center, totaling 5k-SF, which brought the vacant center to 100% occupancy. “Listing Agent of the Year” went to Keith Warpinski,commercial broker at the Yorkville office. Keith has worked with Inland for less than one year and listed over $40M of land, retail, and industrial properties.
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Sperry Van Ness' Scott Maesel has been awarded the National Association of Realtors’ Green Designation. Less than 1% of Chicago’s NAR members hold this designation. Scott completed 18 hours of courses that were created in collaboration with a multidisciplinary team of industry experts from across the country.
Architecture and Construction
Wight & Co. and McHugh Construction have completed a renovation and expansion of Riverside Brookfield High School in Riverside. A notable design feature of the project was the development of a new entrance that maintained the historic character of the school. Energy-efficient mechanical systems, white roofs and permeable pavers have helped reduce costs.
Finance
Alliant Capital has refinanced nine communities. Aaron Abelson in Alliant’s Chicago office closed the transactions, totalling $52M. Seven of the properties are located in Chicago, of which six were refinanced on behalf of Horizon Realty Group on the North Side. The final community was financed on behalf of Mickelson Bros. The two remaining properties are located in Appleton, Wis., and were closed for a private investor. The combined portfolio represents nearly 500 units, including high-end studio, one- and two-bedroom apartments.
