The Deal Sheet

Leasing News

Arthur J. Rogers & Co.'s Chris Zannis  recently completed a new industrial space lease within Rogers Business Parke-Elgin. A1-Restoration, Inc,  fire and water damage repair specialists, is expanding to the Parke and has leased 5k-SF lease at 2541 Technology Drive. A1 was self-represented.

***

LG Electronics MobileComm USA Inc. has leased the entire 338k-SF industrial/warehouse facility at Highland Corporate Center Building #3 at 1251 W. 115th Street in Bolingbrook, Illinois. Cushman &  Wakefield's Jason West and Sean Henrick repped Highland Corporate Center for ML Realty Partners. CB Richard Ellis' Seth Kelly and Kirk Armour represented LG.

***

The 318 W Adams building was recently acquired by MG Group Holdings, Inc. Renovation and improvements throughout the building continue through '09 with a lobby and elevator makeover. The 19-story building has eight floors available for sale or lease with over 8k-SF per floor. Cornerstone Commercial Partners Chicago was named the exclusive real estate firm for sales and leasing.

***

VITAS Innovative Hospice Care signed a renewal and expansion agreement for 30k-SF at 580 Waters Edge Drive, Lombard. CB Richard Ellis' Perry Higa, Scott Allen, and Chase Deuschle represented VITAS. CB Richard Ellis' Bill Elwood, Pete Adamo, and Mark Georgas  negotiated on behalf of the landlord, KBS Realty Advisors.

***

Cushman & Wakefield's  Britt Casey  and Michael Hawryluk represented ProLogis in leasing a 39k-SF industrial facility located at 279 Madsen Drive in Bloomingdale to DataMart Direct, LLC, a commercial variable data print company, specializing in marketing, mailing and fulfillment. Taurus Realty Partner?s  Marat Safir  represented DataMart Direct.

***

CB Richard Ellis' Brad Weiner and Mitch Adams recently represented a confidential owner in a 44k-SF, five year lease to Alside Windows and Doors at 5565 N. Lynch in Chicago. It's a relocation for Alside, which was previously located in Goose Island. Colliers Bennett & Kahnweiler's Jeff Heymann represented Alside.

***

MRSA Architects and Planners  has been hired by Colliers Bennett & Kahnweiler to consolidate critical building and leasing information for the iconic Wrigley Building with its proprietary service called smartBook. The property is managed by CBK and owned by the Wm. Wrigley Jr. Company.

***

Schaumburg-based Financial Management Systems, a call center firm, has signed a new long-term lease for a 28k-SF building in Rockford, which it plans to use for a new call center. The new facility will create over 50 jobs immediately and as many as 350 in Rockford over the next 24 months. The building, which was previously occupied by the Prairie Area Library System, is at 4021 Morsay Drive. Whitehead, Inc.'s  Emmett Gray  completed the transaction on behalf of the building's owners.

***

RX Solutions, a pharmaceutical service provider recently purchased by Walgreens, signed a long term lease at Oak Creek Center  in Lombard, which is exclusively listed by Cawley Commercial Real Estate's  Cody Sundberg. The 11-building office campus is owned by KBS Realty Advisors. RX Solutions is relocating and expanding from Yorkbrook Park into an 11,214 SF unit at Oak Creek Center.

***

Sperry Van Ness LLC has announced its exclusive representation of George Bumbaris and Sarah Stegner in the leasing of 6k-SF of first floor retail at 201- 215 N. Clinton, formerly known as the Power House restaurant in the West Loop. Bumbaris and Stegner will be opening their second full service restaurant. Sperry Van Ness' Sean Lutz represented Bumbaris and Steger in this transaction. Sean also represented Steve Soble in the leasing of approximately 3k-SF at 215 N. Clinton for another restaurant concept, New Line Tavern. Real Estate Investments' and Solutions' Jeff Bernard  of Real Estate Investments and Solutions represented ownership, Structured Development, in both transactions. 

Finance

Chicago-based  Aries Capital's  affiliate Urban Development Fund, LLC  provided $15 million in financing to facilitate the renovation of the Clemens Center in Elmira, NY. The $24.5M renovation will enhance and upgrade the stage areas, dressing rooms, work areas, and technology. The investment was made possible by an allocation of New Market Tax Credits. The Center subsidizes programming by $600,000-$700,000 to reduce ticket prices to nearly 15,000 school children and 30,000 adults as community outreach each year.

Construction

Principle Construction Corp. recently completed a build-out for a new timeshare medical suite located at Remington Medical Commons in Bolingbrook at 329 Remington Boulevard. Owned by Remington Development Partners, LLC, it's a 39k-SF medical facility adjacent to the new Adventist Bolingbrook Hospital. Alex Olen was the Project Manager for Principle Construction Corp., and Harris Architects  provided architectural services. 

***

GENCON Building Corporation  recently completed a new 4-story, 104-room Hampton Inn and Suites on West Lake-Cook Road in Deer Park. The development team of owner Deer Park Hotel, LLC, architect A3 Design Studio and GENCON, behind Erica Maurizio and Kim Haleled, collaborated to complete the project on schedule.

Management

Oak Brook-based McDonald?s renewed its strategic alliance with Jones Lang LaSalle for transaction management and project management for 25 leased regional offices throughout the United States as well as facility management and project management on 831k-SF of space within five buildings throughout Chicago?s western suburbs.  Further, JLL announced that McDonald?s world HQ became the 18th building nationally to earn LEED-EB Platinum certification. JLL represents McDonald?s in more than 1.2m-SF of leased or owned properties throughout the U.S., as well as helping it with sustainability efforts.

People

Aaron Shepard  has joined Harley Ellis Devereaux  as project manager to its healthcare design team. Aaron has nearly 25 years experience in healthcare architecture and has managed large-scale hospital projects throughout Chicago and the Midwest. He is based in Harley Ellis Devereaux's Chicago office and was previously project manager at OWP/P. He holds a Master of Architecture and a Bachelor of Science in Architecture from the University of Michigan.

***

Melissa Rubenstein and Brian Atkinson have joined Jones Lang LaSalle as VPs of agency leasing in the Chicago area. The firm's agency leasing business includes 25 assignments in the CBD, representing more than 20M SF of space. Melissa has more than 10 years of experience and has been responsible for more than 10m-SF. of commercial assignments. She joins from CB Richard Elli s, where she was recognized with the Top Office Specialty Broker Award in 2008. She received her bachelor?s degree with honors from the University of Arizona.

Brian has 10 years of experience in commercial real estate advisory and leasing. Most recently, he was responsible for the landlord agency business development for NAI Hiffman. He received his MBA with honors from DePaul University, with a concentration in real estate finance, and his bachelor?s degree from the University of Illinois at Urbana-Champaign.

Sales

Cushman & Wakefield's Kenneth Szady and James Carpenter,Tom O?Brien, and Terry Kingston, represented Prudential Insurance in the investment sale of a 193k-SF industrial office/warehouse facility located at 8775 Zachary Lane North, Maple Grove, MN to Cabot Properties. This building is fully leased to Gannett Satellite Information Network through March 2019. 

***

Cushman & Wakefield's Kenneth Szady and James Carpenter represented Morgan Stanley  in the investment sale of a 5-building portfolio totaling 392k-SF in Glendale Heights and Elmhurst. The portfolio was 95% leased and was purchased by Boston-based TA Associates for $21.2M.