The Deal Sheet
We wouldn't be able to vacuum our dust-riddled carpets, park our big rigs, or fly the friendly skies without this week's build-outs from Chicago's versatile construction companies.
Bear Construction completed a 14k SF build-out for Dyson's HQ at 4248 Meridian Pkwy in Aurora. The project was managed by Bear VP Steve Wasilewski. IA Interior Architects and McGuire Engineering provided architectural and engineering services. JLL's Daniel McCarthy and Kellen Monti were the tenant's brokers. The project won the Premier Award, the highest honor given for the Contract Office category at the IIDA Illinois RED (recognizing excellence in design) awards.
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ARCO/Murray completed a container and wheeled storage yard project for Central States Trucking, one of the largest Midwest-based carriers, at 1250 Millsdale Rd in Joliet. The new terminal and depot operations complex features 12 acres of roller compacted concrete.
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Morgan/Harbour was selected to build a 21k SF hangar at the Chicago Executive Airport at 1062 Milwaukee Ave in Wheeling. Engberg Anderson Architects and Pierce Engineers are providing architectural and engineering services. The new hangar is slated for completion this summer.
SALES
Principal Real Estate Investors acquired the five-building, 559k SF Tri-State International Office Center in Lincolnshire from Colony Realty Partners. Colliers principal Steven Kling and SVP Christopher Cummins were retained by Principal to continue leasing the property, and Colliers' real estate management services group, led by property manager Kelly Morrissey, will continue to manage the property.
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Opus Development Co sold the 261k SF Building I in Cicero Business Center, 1330 S 54th Ave in Cicero. Neighboring Building II was sold to Cabot Properties in 2012 and is fully leased by Cloverhill Pasty-Vend. Cushman & Wakefield's Jason West and Sean Henrick repped Opus in the Building I transaction.
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Lee & Associates of Illinois principal Mike Prost and VP Sergio Chapa repped Salud Natural in its purchase of a 41k SF industrial building at 1120 Glen Rock Ave in Waukegan. Cushman & Wakefield's Rob Lambert repped the seller, Ventura Foods.
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Links Capital Advisors' Chris Charnas repped the seller, Harvard State Bank, in the $425k sale of Oregon Golf Club, 250 S Daysville Rd in Oregon. A local investor purchased the 92-acre, nine-hole course, which includes a 6,196 SF clubhouse.
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Kudan Group repped ownership in the sale of 2700 W Chicago Ave to a private investor. Kudan also facilitated the lease of the retail space to Francisco Ruiz, owner of Bullhead Cantina in Humboldt Park. Francisco plans to open Hunter and Tales, an American gastropub, in early August.
LEASING
Prologis signed Champion Container Corp to 90k SF of industrial space at 1455 N Michael Dr in Chancellory Business Park, Wood Dale. Champion will consolidate three operation facilities to this location. NAI Hiffman EVP Brian Colson and VP Eric Fischer repped Prologis; NAI Hiffman EVP Dan Leahy and Cushman & Wakefield's Dan Wilkins repped Champion.
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NorthShore Care Supply leased an 86k SF industrial building at 1200 Barclay Blvd in Buffalo Grove, expanding and relocating from Northbrook. Newmark Grubb Knight Frank principal Joel Friedland and senior associate Steve Stone repped ownership, a private partnership, and CBRE's Zach Graham repped NorthShore.
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Berkshire Refrigerated Warehousing leased 72k SF within the 2.1M SF Calumet Business Center at 1550 E 98th St. NelsonHill SVP Frank Melchert and managing director Douglas Hayes repped Berkshire and NAI Hiffman's Chris Gary repped ownership, Ashley Capital.
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Marketing Alternatives leased 43k SF at 2550 Northwest Pkwy in Elgin. Lee & Associates of Illinois principal John Sharpe and Steve Bass repped building ownership, Stockbridge Capital Group, and Colliers' David Bercu repped the tenant.
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Exhibit Fabrications signed a 41k SF l ease at 2580 Northwest Pkwy in Elgin. Lee & Associates of Illinois principal John Sharpe and Steve Bass repped building ownership, Stockbridge Capital Group, and Lee & Associates of Illinois principals John Cassidy and Ken Franzese repped Exhibit.
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Engineering firm Thornton Tomasetti extended its lease through 2023 and expanded its space from 25k SF to 31k SF, the entire 15th floor of 330 N Wabash Ave. The property is owned by a JV between affiliates of Riverview Realty Partners (formerly Prime Group Realty Trust) and Five Mile Capital Partners (which owns Riverview). CBRE SVPs Stephen Eynon and Bradley Serot repped Thornton. Riverview was repped by its EVP of leasing, Steven Baron.
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Toy maker TOMY International relocated its North American HQ to Arden Realty's 555k SF Commerce Plaza office complex, 2015 Spring Rd in Oak Brook. JLL SVP Todd Schaefer repped TOMY in a 25k SF long-term lease; JLL's Jeff Shay, Bruce Renwick, and Karla Harmon, as well as Arden senior portfolio manager Laura Quayle, repped Arden.
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Axis Global Logistics inked a 20k SF industrial lease at 2300 Windsor Ct in Addison. Lee & Associates of Illinois principal Chris Nelson repped Axis and CBRE's Mike Sedjo and Chris Zubel repped building ownership, First Industrial.
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Accel leased a 10k SF industrial building at 311 Gerri Ln in Addison. Lee & Associates of Illinois VP Nick Eboli repped ownership and GC Realty & Development repped Accel.
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Kudan Group's Frank Trenholm brokered a lease at the former Gator's Wing Shack, 1801 Belvidere Rd in Waukegan. Frank repped the seller, Neil Jolcover, and the new tenant, Titlemax.
FINANCING
Hunter Capital Markets secured a refinancing of the 369-room DoubleTree by Hilton Hotel Chicago -- North Shore Conference Center in Skokie on behalf of Ultima Hospitality. Hunter SVP Angelo Sambules and VP Laura Wolinsky repped the borrower. The financing involved five-year senior and mezzanine loans.
CONSTRUCTION & DEVELOPMENT
The Marquette Cos broke ground on 223-unit, 19-story Catalyst, a luxury rental building located at 630 W Washington in the West Loop. The Brininstool + Lynch-designed project is a JV between Texas-based Hunt Cos and New York-based Kayne Anderson Real Estate Advisors. Lend Lease is serving a GC and units will be delivered in summer 2014.
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Stephen Rankin Associates was hired by the CORE Foundation for the interior renovation and to build a new shipping/receiving room at the Ruth M. Rothstein CORE Center, a specialized outpatient health care facility established as a JV between John H. Stroger, Jr. Hospital of Cook County and Rush University Medical Center. Leopardo Cos was the GC.
EXECUTIVE MOVES
The Telos Group tapped Will Flatt as EVP and COO. He joins Telos after spending 16 years at Parkway Properties, most recently as the REIT's COO, and a year working on general investments with a high-net-worth individual investor. Will received his BA in economics from Millsaps College in Jackson, Miss. and his MBA from UChicago.
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Marcus & Millichap named Stephen Rachman regional manager of its Chicago O'Hare office. Stephen was an associate director in the firm's national multi-housing group, the national retail group, and special assets services.
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A.G. Hollis joined Avison Young as VP of management and leasing services. A.G.'s company, Capital 22, a commercial/investment asset and property management firm he founded, was acquired by Avison Young earlier this year. He is a 1993 graduate of Miami of Ohio.
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Reed Construction hired three new project engineers: Ryan Welch, Ryan Esselborn, and Alex Harris. Ryan W was previously with Peak Construction and received his BS in construction from Bradley; Ryan E comes from Madison Construction and received his degree in building construction from Purdue; and Alex was previously with Gallant Construction and also received his degree in construction engineering from Purdue.
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John Byrnes joined Bear Construction as senior project manager. John is a US Navy vet and has spent the last 11 years at Clayco. He will be based out of Bear's Chicago office.
AWARDS
Fifield Cos president and CEO Steve Fifield received the E.J. Plesko Distinguished Speaker in Real Estate Development award from the James A. Graaskamp Center for Real Estate at the Wisconsin School of Business. Fifield has built more than 5,000 high-rise residential units in Chicago, LA, Southeast Florida, Las Vegas, and Waikiki, and has more than 50 projects overall worth more than $8B. Tonight, Fifield will be hosting a Designer Showcase at his newest Chicago luxury apartment development, K2. The event will take place through the 3rd and is open to the public.
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Newmark Grubb Knight Frank principal Ed Brandt was awarded the Tooling & Manufacturing Association's highest honor, the Winzeler Award, at TMA's annual meeting in March. The award is given to an individual who demonstrates outstanding service and commitment to Illinois manufacturing.
The chickpea is neither a chick nor a pea. Discuss. marissa.oberlander@bisnow.com
