THE DEAL SHEET
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| SALES | ||
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The fully occupied Northpointe II Office Center at 465 Central Rd sold for $1.8M. Marcus & Millichap's Frank Roti repped the seller, and National Realty Network's Charlie Pick repped the buyer. *** Acadia Realty Trust acquired the Gold Coast Lululemon for $20.7M. Its Fund III also closed on its acquisition of the 63k SF Lincoln Park Centre in the Clybourn Corridor for $31.5M, closing out the $171.3M fund's pipeline. *** Strauss Realty sold a 24k SF development site at 3636-3656 N Western Ave for $1.4M in a lender-assisted sale. |
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| LEASING | ||
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Xpedx leased 316k SF in Liberty Property Trust's 901 Bilter Rd, known as Liberty Business Center #7, in Aurora. The tenant, repped by Hartford Associates' George Pappas, will relocate from Glendale Heights. Rockpoint Logistics, repped by Newmark Grubb Knight Frank's David Friedland, also expanded by 72k SF to 292k SF. Colliers' Jim Estes, Jeff Kapcheck, and Mark Bell repped Liberty, bringing the 608k SF building to full occupancy.
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Goodman Manufacturing, repped by Paine/Wetzel/TCN Worldwide's Elise Couston and Stream Realty's Seth Koschak, signed three area industrial leases:
Paine/Wetzel also completed four suburban leases:
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| FINANCING | ||
Marquette refinanced its 94% occupied, 390k SF HighPoint Community Apartments in Romeoville for $36.8M with an 80% LTV, 35-year HUD loan arranged by Berkadia Commercial Mortgage's Len Deering, Paul Matusiak, and Tom Sigrist. *** Inland Real Estate Corp and Clarion Partners refinanced its 176k SF Chatham Ridge retail center with $18M from a life company. CBRE Capital Markets' Keith Huizinga and Molly Green arranged the loan. |
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| CONSTRUCTION & DEVELOPMENT | ||
| Bluestone Diversified Investments received final development approval for an 11k SF, Class-A shopping center in Highland Park in which AT&T will occupy 5,000 SF. General contractor Bulley & Andrews has begun construction on the Knight E/A-designed project, which will deliver in August. | ||
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| Cushman & Wakefield's 40k SF Illinois HQ on the 27th and 28th floors of 200 S Wacker Dr is done. It relocated 110 people from 455 N Cityfront Plaza Dr. The project team included C&W's Shawn Mobley, John Haas, and Randy Thompson, Whitney Architects' John Burjek and Paula Lutz, Environmental Systems Design's Efren Molina, and Development Solutions' Daniel Mazeiro, Michael Nolan, and Bob Shor. | ||
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| Krusinski Construction Co completed the renovation of IAC’s Chicago Market Center in Hodgkins for Global Experience Specialists, including 43k SF of office and a 247k SF warehouse and production facility. Ware Malcomb was the architect. | ||
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| Principle Construction will renovate 3,650 SF and add 20k SF at Subco Foods' 1150 Commerce Dr in West Chicago. Craig Slinker is senior project manager, and Corporate Design + Development Group is doing the design work. *** J.C. Anderson completed a 40k SF interior renovation at GlenStar Properties' 8700 W Bryn Mawr for Fidelity Life Association, which is consolidating its Oak Brook and Rolling Meadows locations. Joe Maguire was the project manager and Glen Panfil the superintendent. DePalma Group designed the project. *** Reed Construction completed a 15k SF expansion for Gogo’s Itasca office. Bryan Kreuger was project executive and Steve Sandquist project manager. Partners by Design did the design and CBRE repped the owner. |
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| EXECUTIVE MOVES | ||
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| Transwestern has promoted Rob Bagguley, until now Midwest prez, to chief innovation officer. He'll also lead the firm's Middle East and North Africa strategy. He has also served as senior managing director for Cushman & Wakefield and founded Rubicon Property Services. | ||
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| Mike Watts has joined Transwestern from J.F. McKinney & Associates to take Rob's spot as Midwest prez. He's also worked for JLL. |
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| ML Realty Partners hired Enrique Nevarez Jr as director. He joins from ProLogis. | ||
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| Sara Schumacher has joined J.C. Anderson as project manager in the Elmhurst HQ and Downtown office. It's a family affair. Matthew Schumacher joined the firm as a skilled plasterer in the '40s, his son Joseph bought it in '76 and has transferred leadership to his sons, Jim (Sara's dad) and Tom. Sara is the first female in the family to join. She has also worked as an interior designer with Gensler and as a designer with Hydzik Schade Associates. She graduated from the Illinois Institute of Art. *** Op2mize has hired Paul Fishbein as EVP and Aaron Paris as chief intelligence officer.
Paul has worked for Centrum Properties, Amerimar Enterprises, and Indie
Energy Systems. Aaron has worked for DP Partners, Metropolitan
Structures, and Tooley & Co, and he has an MBA from Northwestern
University. *** Kudan Group hired Alex Stamatakis, who has worked for the Chicago Board of Trade and as a slot marketing executive, opening the Bellagio for Steve Wynn. *** Bradford Allen promoted Ben Azulay and Joel Berger from directors to senior managing directors. Ben will lead the downtown brokerage team and Joel the suburban brokers. |
