The Deal Sheet

Construction News

Reed Construction recently completed the 5k-SF fitness center build-out at 303 E. Wacker Drive. Reed was hired by property manager Hines to complete a build-out on the second floor. Reed's Jack Hennessy oversaw the project management; architectural services by  The Environments Group/Perkins & Will.

***

Morgan / Harbour Construction  has completed two office build-outs within the a 45,000 square foot, three-story, LEED-certified office building at 10200 Orland Parkway in Orland Park for American Technical Publishers, Inc.

• The first is a 6k-SF build-out on behalf of the Linden Group Inc., an architectural, interior design, and land planning company. The Linden Group is relocating to the new office facility from Homewood.

• The second is a 3k-SF office build-out for ProMed Staffing Inc., which is also relocating. ProMed Staffing is a leading provider of healthcare staffing within the Chicagoland area. The two new tenants will occupy the first floor of the ATP building.

Morgan / Harbour is expected to achieve LEED Gold. Its Warren Seil  oversaw the construction team for the two projects. HJ Kessler Associates' Helen Kessler  is the LEED accredited professional assisting in the certification process. Archideas  provided the architectural services; Darwin Realty's Chris Gary was the broker.

***

Province Restaurant at 161 West Jefferson, opened its outdoor cafe last week. Transwestern's Edie Kessler  and Jim Runnion played an active role in facilitating the construction project to create this unique 40-seat patio for Province, which offers modern American cuisine influenced by the old and new world flavors of Spain  and  South America. Province is located within the Chicago Transit Authority Building, for which Transwestern provides management and leasing. The building, located at 567 West Lake, has been recognized with the EPA's ENERGY STAR Partner of the Year Award. They were also awarded Gold LEED-EB certification. 

***

Moss, Inc., a manufacturer of tradeshow exhibits, selected Meridian Design Build to complete the renovation of a 10k-SF industrial building at 2600 Elmhurst Road in  Elk Grove Village. Moss Inc. entered into a long term lease with the building owner, Mirvac Industrial Trust, earlier this summer. Taurus Realty Partner's Marat Safir repped Moss. Lee and Associates Chris Nelson represented the landlord. Meridian Design Build will coordinate the design and installation of a significant amount of process electrical wiring, process ventilation, and compressed air distribution to accommodate Moss, Inc.?s manufacturing operations. Meridian's Bob Kolcz and Tom McNett  are coordinating the project.   

Leasing

Jones Lang LaSalle has closed the sale and leaseback of one of the world?s largest corrugated box manufacturing facilities in Valparaiso, Indiana.  The buyer was FT & NW Investments of Chicago, which purchased the 506k-SF for $15.2 million. The property was constructed in 2002 and is 100% occupied by Pratt Industries. At closing, Pratt executed a long-term leaseback for the building at 3155 State Road 49 in Valparaiso. Jones Lang LaSalle's Matthew Gilbert and Michael Hochanadel represented the seller.

***

Paine/Wetzel ONCOR International completed two industrial transactions totaling 16,000 SF feet in Chicago.

• In the first, Lincoln Auto signed a new 10k-SF lease at 3067 N. Elston Avenue. Paine/Wetzel's Rodger D. Chenore,Terence K. Lynch, and Jeffrey Girling, represented landlord Gold Realty. Tiamar Real Estate's Tiago Pappas represented the tenant.

• In another, Graceland Development LTD. purchased a 6k-SF building located at 2130 S. Michigan Avenue. The investment firm plans to remodel the building for tenant use. Graceland Development selected the building due to its prestigious Michigan Avenue address as well as the South Loop?s robust development activity within the last several years. Paine/Wetzel's repped the seller, All Service Lock & Metal Supply Company.  The buyer was repped in-house.

***

Intellisource, Inc. has signed a 4k-SF lease within the Rogers Business Parke-Elgin in Elgin, 2521 Technology Drive. Arthur J. Rogers & Co.'s   represented ownership in the new office/warehouse flex space lease. The event management and promotional products distributor also maintains an office in Schaumburg and is expanding to this new location. Brown Commercial Group's Brad Bullington represented the tenant.

***

Cawley Chicago Commercial Real Estate's Sergio Volpe represented tenant Air & Ground World Transport in relocating its warehouse space from Bensenville to 1726 Elmhurst Road in Elk Grove Village.

People

Grubb & Ellis Company announced that the six-person commercial real estate mortgage banking team lead by Joel Simmons and Steve Roth has joined the company as EVPs, to build the firm's practice in Chicago. The team joins from Cohen Financial and includes Ben Greazel, Adam Levinson, Steve Kundert,  and Trudi Weber.  Ben and Adam, formerly directors at Cohen Financial, have joined as SVP; Steve retains his title of vice president. Trudi serves as the team's executive assistant.

***

Michael Hoadley  has joined the UGL Equis? Chicago office as a Vice President. Mike is a 15-year industry veteran who previously headed up Spinnaker Real Estate Ventures LLC, a firm he launched in June 2004 before joining UGL Equis. Prior to starting his own company Mike was a sales person and broker for Cushman & Wakefield and Tanguay Burke Stratton before it merged with the Staubach Company in 1998. 

***

Holland and Knight's Peter Friedman has been appointed head of the firm's Chicago Real Estate Practice. The 35-attorney Real Estate Group combines extensive private and public sector transactional expertise with a preeminent land use and local government practice. Friedman, who was recently mentioned as a potential candidate for the congressional seat vacated by White House Chief of Staff Rahm Emmanuel, represents Illinois cities, villages, counties, and special districts in all types of real estate transactions and in general local government law. In addition to heading the Chicago Real Estate Practice, Friedman is Deputy Chair of the firm's Government Representation Team.

***

McShane Development Company?s Healthcare Division announced a recently formed, long-term strategic alliance with Harrison Street Real Estate Capital, LLC. The two firms will collaborate on a number of opportunities to develop healthcare related properties throughout several geographic markets.

***

Sales

Inland Real Estate Brokerage, Inc. sold two multi-family buildings located at 115 East Thomas and 1440 North Arlington Heights Road in Arlington Heights. The freestanding brick buildings, each with four two-bedroom units, sold for a total of $813,000. Inland's Richard Kehoe and John Hanson  represented the seller in the transaction.  

***