THE DEAL SHEET
| SALES | ||
DDR Corp has purchased Tinley Park's Brookside Marketplace for $47.4M from Ryan Cos. The 550k SF shopping center is anchored by Best Buy, Dick’s, HomeGoods, Old Navy, PetSmart, Michaels, Office Max, and Ulta and shadow-anchored by Super Target and Kohl’s. Mid-America Real Estate Corp's Rick Drogosz and Joe Girardi repped the seller. *** Micromatic Spring and Stamping, repped by Paine/Wetzel/TCN Worldwide's Phil Reiff Sr and Phil Reiff Jr, has acquired the 72k SF 45 N Church St in Addison and is relocating from 9325 King St in Franklin Park. Brown Commercial's Dan Brown and Mike Antonelli repped the seller, Lilypad Development. *** The Phils also repped Interstate Wrapping Products in its sale of the 52k SF 854 Fairway in Bensenville to United Packaging Products, which is relocating from Elk Grove's 1090 Pratt. Colliers' Jonathan Kohn repped the buyer. *** Whiteoak Global Property, repped by US Asia Group's Eric Chang, has purchased 14 acres on the north side of Sequoia Dr in Aurora. Lee & Associates' Jeff Janda, Michael Androwich, and Jim Planey repped the seller, CenterPoint Properties. *** The 1,800 SF Milwood Pizza at 1360 N Milwaukee Ave in Wicker Park has sold and will reopen in May as Antique Taco. Kudan's Jim Martin arranged the sale. |
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| LEASES | ||
QLS, repped by Lee & Associates' John Cassidy and Ken Franzese, renewed 76k SF of Industrial space at Elk Grove Village's 1501 Nicholas Ave. *** MAP Automotive Warehouse leased 32k SF at 5300 W 123rd St in Alsip. Lee's Walter Murphy repped the tenant, and Colliers' Jeff Heymann repped the owner. *** Paulsen Pipe leased 30k SF at 511 W Armory in South Holland. Paine/Wetzel/TCN Worldwide's Phil Reiff Sr and Jr repped landlord Small Brothers, and Jupiter Realty Services' Matt Minik repped the tenant. *** VKF Renzel, USA Corp leased a 22k SF at 1400 Devon in Elk Grove Village, expanding from its Arlington Heights location. Samuel Badger joined the Phils in repping the tenant, and Darwin's Patrick Shannon and Rick Daly repped the landlord, ProLogis. *** TYJ Trading, repped by Lee & Associate's Sergio Chapa, leased 4,000 SF of industrial at 1229 Rand Rd in Des Plaine s. Joseph Real Estate Services' Karen Krisik repped the owner. |
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| FINANCING | ||
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| Atlantic Realty Partners and Focus Development have secured $12M in equity from The Carlyle Group for the ground-up construction of the $43M, 175-unit Seventeen17 apartments at 1717 Ridge Ave in Evanston. JLL's David Gutting, Derrick Bloom, and Porter Jones arranged the financing, and colleagues Dave Hendrickson and Keith Largay provided local expertise. The submarket is expected to deliver 3% to 4% rental growth per year. | ||
| CONSTRUCTION | ||
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| Meridian Design Build's Ryan Moore and Jim Cather will coordinate the renovation of Carol Stream's 50k SF 160 E Fullerton
for MC². The event and exhibitor firm is relocating its manufacturing
operations from 2120 S Jefferson in Chicago. Taurus Realty Partners' Marat Safir repped the tenant in its lease, and Colliers' Tom Condon and Brian Kling repped the owner, Colony Realty Partners.
*** Reed Construction has completed the build-out of the Children’s Home & Aid at 125 S Wacker Dr. The nonprofit moved from Milwaukee Ave. Bryan Kreuger and Jeremy Raridon led the project, which was designed by Techno. *** JAS Forwarding has selected The Missner Group to build-out its 79k SF facility at 1400 Algonquin Rd in Mount Prospect. |
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| EXECUTIVE MOVES & NEWS | ||
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Shannon Pope has joined Transwestern’s retail advisory services group as SVP. She joins from HSA Commercial Real Estate. She has done transactions with PNC Bank, National City Bank, CVS Pharmacy, Menard’s, BP Amoco, Walgreens, Starbucks, and Potbelly and leased storefronts in Bucktown, Wicker Park, South Loop, and Lincoln Park. |
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Frank Melchert has joined NelsonHill from Grubb & Ellis' Chicago industrial team, offering experience with incentives like SBA Loans, SBIF, Illinois EDGE, and TIFs. |
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Arthur J. Rogers & Co CFO Dale Cooper has retired after 26 years, and Patrick Napue will take over as corporate controller. Patrick previously worked for Lillibridge Healthcare Real Estate Services and worked for Inland Retail Real Estate Trust before it was acquired by Developers Diversified in '07. He has a BBA from Loyola University. *** Eidco Construction has hired Brad Peterson and Larry Vivoda as senior project managers. Brad came from Phoenix Construction Consultants and is a Marquette alum. Larry previously worked for Mid America Development Partners and has degrees from Illinois State University and the College of DuPage. *** Ryan Moore has joined Meridian Design Build as project engineer. He's a 2011 graduate of the University of Illinois at Urbana-Champaign. |
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| AWARDS & OTHER NEWS | ||
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Jason Breden accepted the Hispanic American Construction Industry Association’s General Contractor of the Year award on behalf of McShane Construction from HACIA exec director Jorge Perez. McShane received the reward for providing contracting opportunities for HACIA members in the construction of the 101k SF Instituto Health Sciences Career Academy at 2520 S Western Ave in Pilsen. The charter high school was completed last year. *** The Society of Environmentally Responsible Facilities green certification organization has certified its first two Chicago buildings: the office portion of 330 N Wabash and Norcon Construction's HQ. It also has opened its own Chicago office at 200 S Wacker Dr and brought in Jenni James as regional manager. She came from Phoenix's Logan Simpson Design. |
