THE DEAL SHEET
| SALES | ||
Crest Hill Business Park (repped by Cawley Chicago Real Estate's Josh Hearne and Terry Grapenthin) has sold 63 acres in two deals to Dayton Freight Lines (repped by Olcorp's Eric Olson) and Old Dominion Freight Line (repped by Burr & Temkin's Dave Lane). Both buyers are expanding their Midwest operations and will develop the sites this year. M-1 zoning for the park pre-approves trucking, outside storage, heavy manufacturing, and distribution uses. 43 acres (in three to 35 contiguous blocks) remain for sale. *** Capmark Bank sold Woodstock's 179-acre, 18-hole Bull Valley Golf Club (with a 37k SF clubhouse) to Geneva Capital Investments. Links Capital Advisors president Chris Charnas repped the seller, and Premier Commercial Realty repped Geneva. *** Hamilton Partners purchased 1614 W Central, a 30k SF MOB just west of Arlington Heights' Northwestern Community Hospital, from a private investor. Cawley Chicago's Dan O'Neill was the broker. *** The new 34-unit 111 W Third St seniors housing apartments (plus two retail blocks) in Elmhurst have sold for $3.8M. Marcus & Millichap's Ryan Engle and Andrean Angelov repped the seller, a financial institution, and the buyer, a private investor. |
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| LEASES | ||
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Kerry Ingredients & Flavours leased STRS Ohio's 298k SF warehouse and distribution center at 284 Lies Rd in Carol Stream's Carol Point Business Center for 91 months. Lee & Associates' Ken Franzese, John Cassidy, and Walter Murphy repped the landlord, and JLL's Trevor Ragsdale and Michael Burns repped the tenant. The lease is worth $6.5M. *** Illinois Bell restructured and extended its lease of the 113k SF 4533 W Roscoe. Paine/Wetzel/TCN Worldwide's Jeff Blake and Jeffrey Girling repped the landlord, Roscoe Properties. JLL's George Kotrogiannis repped Illinois Bell. ***
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*** Arthur J. Rogers & Co's Chris Zannis completed four leases for Rogers Business Parke in Elgin's Northwest Corporate Park at Technology and Vantage drives:
*** Paine/Wetzel/TCN Worldwide's Gerald Sullivan has completed two leases in Manulife Financial's 101 Corporate Center in Lemont:
*** KTR Capital Partners leased 2,400 SF in O’Hare Gateway Office Center (9500 W Bryn Mawr), relocating its Loop offices. Paine/ Wetzel/ TCN Worldwide's Curt Stanton, Leslie Spinner, Ryan Bertin, and Joe Houlihan repped the landlord, MJH Rosemont. JLL's Aaron Rosdal repped the tenant. |
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| FINANCING | ||
| Cambridge Realty Capital has loaned the 127-bed Springfield Supportive Living Center $7.7M for 40 years, fully-amortized via HUD. (Oh good, it'll mature at the same time we do.) | ||
| CONSTRUCTION | ||
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Meridian Design Build has been named general contractor for a 38-acre redevelopment of an auto auction mall at 122nd and Central in Alsip for Polmax Transportation. Demolition is under way. The 151k SF cross-dock facility will include full-service truck maintenance and repair bays, a truck wash, 20k SF of office, and parking for 500 trailers. Meridian's Joe Grimes will manage the project. Arete'-Knight did the architectural and structural design, and Hoefferle-Butler will handle civil engineering. McLellan Cos' Jim Conrad and Chuck Wiercinski repped Polmax in the purchase of the property, and CBRE's Larry Johnson repped the seller. *** J.C. Anderson will build-out LinkedIn's 40k SF at 525 W Monroe, to be complete in Q2. Joe Maguire is the leading project manager, and Brian Elvidge is the project superintendent. Eastlake Studio and *** Greenwood Associates' 60k SF build-to-suit at 6280 W Howard St in Niles is done. The Missner Group was contracted to help with site acquisition and development, including sewer and water infrastructure, demolition of a parking lot, and zoning requirements. The stuff made here goes into salad dressing, fruit juice, and alcoholic beverages. Barry Missner, Glen Missner, and Jess Knigge worked on the project, as did Cornerstone Architects. *** Morgan / Harbour Construction has completed a 5,700 SF build-out for Hinsdale Orthopaedics for its Sports Performance Institute at Westmont's 1010 Executive Ct, including a reception area, private offices, a procedure room, and an MRI suite. Robert Papineau was the project manager, and Partners in Design did the architecture. Morgan / Harbour also completed a 4,000 SF office build-out for Burns & Wilcox in The John Buck Co's 155 N Wacker in the West Loop. Ben Warriner was the project executive, Josh Peters the project manager, and Steve Bulger the project superintendent. Mekus Tanager did the architecture. *** J.C. Anderson has completed a 10k SF office build-out for Kinecta Federal Credit Union's Midwest Operations Center at 8600 Bryn Mawr Ave near O'Hare. Joe Maguire was the project manager and Darryl Tannhauser the project superintendent. (CBRE's Gary Fazzio repped Kinecta in the lease, and GlenStar Properties repped the landlord.) The company also did a 5,900 SF build-out for Orchard First Source. Joe played the same role for this client, Steve Perry was the superintendent, and PBD Architects was involved. *** The Missner Group has begun a $3M base-building retrofit at the Wilmette Medical Office Building at GVA Williams' 521 Green Bay Rd, a former furniture store. Missner will also build-out 18k SF there for the Illinois Bone & Joint Institute. Glen Missner, Drue Stoehr, and Jack Sbertoli will work on the Stephen Rankin & Associates-designed project. It'll deliver in July 2012. |
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| EXECUTIVE MOVES & NEWS | ||
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| The Opus Group has named Richard Figueroa director of capital markets (a new position) based in Chicago. He previously worked at Mansur & Co, Orix Real Estate Capital, Cohen Financial, JLL, Prudential Securities, and William Blair & Co. He has a bachelor's from Yale and a master's in public policy studies and business administration from the University of Chicago. | ||
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| Marc Brash has been promoted to assistant director of Studley's Chicago office. He joined the firm in '01 and concentrates on office. He's completed 400k SF of leases and serves as national account manager for The Logs Network. He graduated from Kenosha's Carthage College and is pursuing a Master of Corporate Real Estate designation. |
