The Deal Sheet
SALES
Transwestern directors Janice Sellis and Paul Barile repped RPAI in the $22.3M sale of 177k SF Darien Towne Centre (above), 2189 75th St in Darien, to Cole Real Estate. Anchored by Home Depot and shadow-anchored by a Walmart Supercenter, the mall’s other tenants include PetSmart and O’Reilly Automotive.
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Adam Fortino, Austin Weisenbeck, and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, repped the seller, an LLC, in the $5.3M sale of 18k SF The Shops at Lily Cache Creek in Bolingbrook. The buyer, a Califoria investor in a 1031 exchange, was repped by Jason Cropper, an investment specialist in Marcus & Millichap’s Little Rock office. Tenants at the 94% -occupied property include Five Guys Burgers, T-Mobile, and UPS.
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CBRE’s Keith Puritz, Brett Kroner, Ryan Bain, and Zach Graham completed the sale ($4.5M asking price) of 121k SF 201 N Prospect St in Marengo. The buyer is Unicarriers Americas Corp and the seller is 201 North Prospect Street Realty. Built in 1990, the fully air-conditioned building was formerly a bag-making and label-printing facility.
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Ryan Engle and Andrean Angelov, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, repped the seller, a private investor, in the $5.2M sale of 72-unit Accent Apartments, located at 1001, 1002, and 1004 Argyle St in Bensenville. The buyer, a private investor, was repped by investment specialists in Marcus & Millichap’s Chicago Downtown office.
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First Western Properties’ Kellen Duggan and Paul Tsakiris completed three sales of bank-owned properties: a free-standing building at 2824 N Ashland Ave in West Lakeview; a mixed-use property at 6901 N Paulina St in Edgewater (the storefront was previously a bar); and a six-unit building at 9942 S Walden Pkwy in Beverly.
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Coldwell Banker Commercial NRT’s James Hodur repped the seller in the $2.2M sale of the former Rubenstein Lumber facility, on 4.14 acres at 5357 W Grand Ave. Steinco’s Tim Minton and David Stein repped the buyer, which will develop the site into a charter school.
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Austin Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, repped the seller, a developer, and the buyer, an individual/personal trust, in the $1.2M sale of a 2,700 SF net-leased 7-Eleven, on the first floor of a condo building at 1201 W Adams St in the West Loop.
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Sperry Van Ness Chicago Commercial managing director Scott Maesel repped both sides in the $1M sale of a retail building at 1114 W Randolph St in the West Loop. The building sold to a neighboring property owner in an off-market transaction.
LEASING
HD International leased 48k SF of industrial space at 2740 W 79th St. Lee & Associates of Illinois VP Scott Anderson repped ownership, Metro Storage.
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Lee & Associates of Illinois VP Nick Eboli repped a packaging company in a 30k SF warehouse lease at 421 N California St in Sycamore. RVG Commercial Realty’s Denise Weinmann repped ownership, Sycamore Industrial Park.
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Dovenmuehle Mortgage signed a long-term lease for a 20k SF office building at 101 Overland Dr in North Aurora, the third Chicago-area location for the firm. Transwestern’s Jonathan Zeitler, Jim Higdon, and Tony Karmin, along with The Domain Group’s Dan Steinberg, repped the landlord in the transaction. Situated on 2.2 acres, the Class-B single-story building offers parking for 220 cars.
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NAI Hiffman VP Aubrey Van Reken repped ownership in two suburban office transactions. Brookwater Partners signed a new 5,000 SF lease with Teledebt Solutions at 199 S Addison Rd in Wood Dale. In Bensenville, Michael Matthews Corp signed a new 3,600 SF lease with LIV Transportation (repped by Avison Young’s Todd Heine) at 730 Birginal Dr.
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Lee & Associates of Illinois senior associate Jay Farnam repped Kronox International in a 5,375 SF lease of warehouse space at 294 Carlton Dr in Carol Stream. Newmark Knight Frank Epic’s Michael Marconi repped ownership, CS Commonwealth Enterprises.
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Paine/Wetzel TCN Worldwide SVP William Kerrins repped ownership, Rodney and Linda Menna, in a 5,000 SF lease with Old World Granite within a 15k SF industrial building at 110 W Fay Ave in Addison. Investment Realty’s Val Badanin repped the tenant, which is expanding and relocating from Kay Avenue in Addison.
EXECUTIVE MOVES
Newmark Grubb Knight Frank hired Geoffrey Kasselman as an executive managing director in Chicago to lead the firm’s national industrial practice. The 26-year industry vet co-founded Op2mize and served as president and CEO since 2004. Before that he founded and directed Studley’s industrial services group and spent 10 years at Insignia/FC&S. Geoffrey earned his bachelor’s degree from UMich.
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Pine Tree Commercial Realty tapped Graham Grochocinski as director of omni-channel marketing and social media. Graham previously worked as marketing coordinator for USAgain recycling company. He received his BS in news-editorial journalism from the U of I Urbana-Champaign.
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Cedar Street Co named Chad Tepley VP of commercial sales and leasing, overseeing commercial leasing efforts on the firm’s over 2M SF portfolio as well as identifying value-add acquisitions around Chicago. The 13-year industry vet was previously with JLL, Jameson Commercial, and Garrett Realty. He received a BBA in real estate and land economics from the University of Wisconsin – Madison School of Business.
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Molto Properties tapped Michael Powers as VP, responsible for sourcing and executing acquisition and development opportunities in the Chicago area. He was previously director of industrial investments at Zilber Property Group and earned a bachelor’s in economics from the University of Wisconsin – Madison.
