The Deal Sheet
Intelligentsia is about to hit the East Coast. Next stop, world domination for our hometown coffee hero.
MCR Development and The Brodsky Org's High Line Hotel on 20th Street in NYC will open the first East Coast location of Intelligentsia in its lobby (current locations only in Chicago and LA). Originally student housing for the General Theological Seminary that delivered in 1895, the 60-room property overlooks the High Line and a private garden (a long way from Intelligentsia's 18-year-old original Lakeview location). While we personally favor hot chocolates over whole bean, brewed, or espresso drinks, we know NYC caffeine junkies (and you coastal commuters) were jolted by the news. On the homefront, look out for locations in Logan Square this month (2646 N Milwaukee Ave), Old Town in June (1233 N Wells St), and Wicker Park this fall (1601 W Division St).
SALES
Baum Realty Group's investment sales team, Greg Dietz, Danny Spitz, Ben Brichta, and Adam Secher, repped the seller in the $2.9M sale (6.03% cap rate) of a 4,750 SF two-tenant retail property, 1733-1735 N Damen Ave in Bucktown. The property is 100% leased to Chipotle and Clothes Minded.
LEASING
Landmark Partners repped Health First Wellness Centers in a 20k SF lease in Woodfield Professional Suites in Schaumburg. The practice includes primary care, dental, chiropractic, and acupuncture.
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The Pulmonary Fibrosis Foundation inked a 5,480 SF lease at 230 E Ohio St. Jameson Commercial's Jason Mundy and Lou Kahn repped the foundation and Bradford Allen Realty Services/TCN Worldwide's Craig Nadborne repped building ownership.
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Baydek signed a 5,000 SF flex/warehouse lease in Addison. JBS Commercial Real Estate partners Brian Silverman and Jason Shibata repped ownership, Northbrook-based Rothbart Realty. CasAmerica Realty's Armando Gonzalez repped Baydek.
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BMK Business Solutions leased 542 SF at 77 W Washington St. Jameson Commercial's Jason Mundy repped BMK and CBRE's Allison Olszta repped building ownership.
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Publicly traded home builder K. Hovnanian T&C Homes inked an 8,820 SF lease at 54k SF One Naperville Plaza, 1804 N Naper Blvd in Naperville. NAI Hiffman's Dan O'Neill, Adam Johnson, and Jud Henry repped ROC, the building owner, and CBRE's Mark Georgas and Paul Diederich repped K. Hovnanian.
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Alter Ego Concierge leased 997 SF at 111 W Washington St. Jameson Commercial's Jason Mundy repped Alter Ego and CBRE's Allison Olszta repped building ownership.
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Jameson Commercial's Jason Mundy repped the Law Offices of Hatham Faraj in an 842 SF lease at 105 W Adams. Crown Properties' Courtney Pogue repped building ownership.
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Jameson Commercial's Lou Kahn and Jason Mundy repped Melinda Holm & Associates in a shared office lease at 225 W Washington St. Amata Office Centers' Frank Chalupa repped building ownership.
FINANCING
Greystone's Chicago office, led by Clint Darby and Sujal Parikh, originated 19 multifamily Fannie Mae loans in Q1 2013. Notable deals: an $18.8M 10-year loan for 100-unit Trio Apartments, brokered through HFF, and a $7.5M 10-year loan for a 93-unit complex on Pine Grove (originated with Marcus & Millichap).
EXECUTIVE MOVES
Equity Residential named David Santee COO. David has been EVP of operations since 2006. He joined Equity in 1994 and has served in a variety of roles in the company's property management organization, including having responsibility for the operations of more than 70,000 apartment units.
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Greystone hired Thomas Reckley as director of loan origination. Prior to Greystone, Thomas served as VP of investor real estate at Northern Trust. He received his BS in finance and entrepreneurship from Miami University.
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Sperry Van Ness Chicago Commercial formed a restaurant and hospitality practice group. The team includes industry veterans Marcus Sullivan, Jim Martin, and Timothy Rasmussen.
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Bryan Farquhar joined The Opus Group's Chicago office as real estate manager. He was previously with The Alter Group and received his bachelor's degree and MBA in finance from Western Michigan University.
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Architecture firm GreenbergFarrow promoted Jennifer Mowen to senior associate. A 12-year veteran of the firm, she manages the Texas Roadhouse account along with other national restaurant chains.
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Jonelle Dzikowicz joined Clarion Construction as its new business development manager. Prior to joining Clarion, she worked as a property manager at NAI Hiffman and MB Real Estate.
The NBA Playoffs kicked off this weekend. Will the Heat repeat? Send ideas and suggestions to marissa.oberlander@bisnow.com.
