THE DEAL SHEET
| SALES | ||
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| Inland Real Estate Acquisitions' Lou Quilici, on behalf of Inland Diversified Real Estate Trust, arranged the acquisition of the 128k SF South Elgin Commons for $25M. It's fully leased and is anchored by Ross Dress for Less, Toys ‘R’ Us, and LA Fitness. A pad with 11k SF of capacity was part of the sale. The shopping center is shadow-anchored by Super Target and Home Depot. | ||
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| Podolsky Northstar CORFAC International's John Homsher and Adam Tarantur repped the seller in the sale of a 32k SF office/flex building in the Woodfield business district. It was 35% occupied, but the buyer, Larry Aronson of Aronson Advertising, will use another 10k SF. | ||
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PowerLink Electric, repped by Newmark Knight Frank Epic's Tom Boyle and Jared Paff, bought the 25k SF 400 Corporate Woods industrial building in Vernon Hills. Paine/Wetzel/TCN Worldwide's Whit Heitman, Samuel Badger, and Brad Weiner repped the seller, Brevini USA. *** Wells Core Office Income REIT bought the 172k SF, five-story Four Pkwy N in Deerfield from JBC Funds Parkway North LLC for $41M. It's fully leased to CF Industries Holdings and Lundbeck. *** Kinter's former HQ in Gurnee, a 30k SF industrial building at 3982 Ryan Rd, has sold to Eirich Machines, which occupies the building next door. Newmark Grubb Knight Frank's Thomas Boyle repped the seller. *** Newcastle Ltd acquired the 13,500 SF 1542 N Damen Ave and the 18-unit 2010 W Pierce Ave apartment building in Bucktown for $9.9M on behalf of its $500M Chicago real estate investment platform. 1542 Damen is leased to Penny's Noodles, Blue Line Bar & Grill, Greener Cleaner, and two office tenants, and the apartments are fully leased. *** The Boulder Group's Randy Blankstein and Jimmy Goodman repped the seller in its $1.1M sale of the 2,500 SF Budget Rent a Car at 8940 S Cicero Ave in Oak Lawn to a Canadian high-net-worth individual. Budget has a net lease with four years remaining and two renewal options. *** Rock Prairie Partners bought 8,000 SF of retail at 7-19 Prairie Ave in Highwood. Lee & Associates' Rick Scardino worked on the deal. School of Rock will occupy half the building. *** Lee & Associates' Terry O’Hara repped American Chartered Bank in its sale of three acres at 3920 Hawthorn Court in Waukegan to ECS Roofing. |
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| LEASING | ||
Indorama Ventures (Oxide & Glycols) leased 7,000 SF at Riverwoods Corporate Center. Podolsky Northstar CORFAC International's Corey Chase repped the landlord, RCC JV LLC, and Randy Podolsky and Adam Tarantur repped the tenant. *** Kudan Group's Scott Reinish repped The Shops at Aptakisic, the landlord of the former Dragon Fire at 1663 Buffalo Grove Rd, in a new lease to Firewood Kabob, which was repped by his colleague Frank Trenholm. The 2,000 SF restaurant will open in September. *** Kudan Group also negotiated the lease of the former Sushi Luxe at 5204 N Clark in Andersonville to the owners of Shiso Japanese Restaurant and Sushi Bar in Old Town, Sansern Nitithanyaratana and Nantakarn Chotipunyo, who plan to open a Thai-fusion restaurant in the space this fall. *** Lee & Associates completed the following leases:
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| CONSTRUCTION & DEVELOPMENT | ||
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| Oxford Development Partners selected Principle Construction Corp to demolish the interior of a 43k SF former Wicks Furniture at 825 S Rand Rd in Lake Zurich and expand a parking lot from 184 to 300 spaces for an LA Fitness. Mike Long is project manager and Tom Sterbenz is superintendent. Amstadter Architects & Civilech are providing architectural services. | ||
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| Summit
Design + Build completed healthcare communications consultants Emmi
Solutions' 20k SF HQ in the top floor of the historic, 12-story 300 W Adams in the West Loop. Dave Mooney was senior project manager and Josh Halagiere was project engineer. Eastlake Studios was the architect.
*** Reed Construction won the award to build Silver Cross and Cadence Health's Angio Neuro Bi-Plane Lab at New Lenox's 1900 Silver Cross Blvd. Brian Courtney will lead construction, and RTKL Associates will handle architecture. RLB Garrison repped the owner. |
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| PERSONNEL NEWS | ||
Thornton Tomasetti promoted Thomas Polous to senior principal and Edward Peck, Robert Stadler, and Adam Abbesyala to VP. *** IA Interior Architects hired Tish Kruse as director of workplace strategy from JLL. She has also led HOK Chicago's interiors practice. *** Pine Tree Commercial Realty appointed Vatsal Desai creative director and property associate. He interned at Gensler Chicago and Gilfillan Callahan Nelson Architects and has a Master of Architecture degree from the University of Illinois at Urbana-Champaign. |
