The Deal Sheet
Leasing
Ulmer & Berne, a Cleveland-based law firm, is moving into its new offices in Chicago's Citigroup Center at 500 West Madison St. The firm signed a lease for the 18k-SF in February. The offices accommodate 30 attorneys, plus legal staff.
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Lee & Associates recently signed three leases:
- ACM Technologies has leased 22k-SF of warehouse space at 880 Enterprise St. on Aurora's Meridian Business Campus. Lee's Jeff Janda and Nick Eboli repped building owner Duke Realty. NAI Hiffman's Mark Moran and John Whitehead repped the tenant.
- Lee's Jeff Galante repped Primus Natural Stone in an 18k-SF lease at 1265 Naperville Dr. in Romeoville. Darwin Realty's Adam Haefner repped building owner Ardmin Properties.
- Kranson Industries has renewed its 47k-SF at 5000-5012 W. 123rd Street in Alsip. Lee's Walter Murphy repped building owner Madison Partners. CresaPartners' Mark Montana repped the tenant.
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Inland Real Estate Corp. signed two leases with local and independent grocers: Michael's Fresh Market signed a 56k-SF lease at Coopers Grove in Country Club Hills, while Tampico Fresh Market signed for 45k-SF in Oliver Square in West Chicago.
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The G Skin & Beauty Institute has signed a long-term lease for 8k-SF on the first floor of the Oak Brook North building at 1200 Harger Road in Oak Brook. NAI Hiffman's Michael Van Zandt and Brian Edgerton repped landlord GGP.
Sales
Grubb & Ellis's Institutional Capital Markets group repped Duke Realty in the sale of Sterling Commerce Center I-IV at 4600-4725 Lakehurst Court and 606 Emerald Pkwy in Dublin, OH, to Wells Real Estate Funds. Grubb's Paul Lundstedt, Jeffrey Shell, John Ecclestone, John Gavin, and Richard Schuen repped Duke. The property is the global HQ of Sterling Commerce, an AT&T subsidiary.
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Westdale Investment Partners, a multifamily investment firm, has acquired Forest Hills at Vinings, a 302-unit, apartment complex in suburban Atlanta from Wrightwood Capital for $14.6 million. The acquisition marks Westdale Investment Partners second Atlanta apartment community purchased in the past two years. The property is 92% occupied. CBRE's Kevin Geiger, Malcolm McComb, and Paul Berry repped the seller.
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Coldwell Banker Commercial NRT's Darren Pulliam and James Hodur recently sold three West Loop Properties:
- A 6k-SF industrial condo at 1360 W. Lake for $1.5M, representing seller SiSu Marcom.
- A 10k-SF building at 939 W. Lake and 940 W. Lake for $2.5, representing seller, Anchor Cos, and buyer, Trainor Glass.
- A 5k-SF portion of the Rubenstein Lumber Co. property located at 943 W. Lake to Trainor Glass for $750,000, representing buyer and seller.
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Grubb & Ellis has sold the ground lease interest of 801 W. North Ave., the future location of an Apple store, to a private out-of-town buyer. Grubb's Peter Block, Anne Arnold, and Brad Teitelbaum, and Cushman & Wakefield's Steve Algermissen and Kazuko Morgan represented the seller. Apple will occupy an 18k-SF retail building on the site. The retailer has a 10-year ground lease on the property and options to extend another 20 years.
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Morgan Realty Partners sold a 20k-SF industrial space to AVA, a distributor of hand sanitizer and surgical scrubs in Willowbrook. The property, owned by 8-0 Real Estate, is at 7051 South Adams Street. AVA was repped by CBRE's Kip Hennelly.
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CBRE's Michael Caprile, Mitch Adams, Ted Staszak, and Stephanie Park represented ownership in the sale of a 296k-SF industrial building at 7123 W. 65th in Bedford Park. The building was purchased by GRM Information Services, a record storage company. The new building serves as an expansion for the GRM, which was repped by Arthur J. Rogers & Co.'s Jeanne Rogers.
Construction
Construction has started on a $10M parking lot redevelopment for Cermak Plaza in Berwyn. Osman Construction and Concordia Realty Corp. will add landscaping, additional parking, traffic safety features, new lighting, a plaza space along the store fronts, and eventually solar panels and wind turbines to improve the parking lot's efficiency. The project is slated for completion in June.
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Meridian Design Build completed a 54k-SF medical office build-out for MedProperties Group at Lockport Crossings Medical Center. The project, completed in less than 40 days, included construction of 10 exam rooms, private restrooms, shared waiting/reception areas, and lockable file storage. Bob Kolcz coordinated the project for Meridian, with Jim Cather acting as superintendent. Areté 3 provided design services.
People
Scott Good has joined Sperry Van Ness in downtown Chicago as advisor associate. Before graduating from Indiana University this spring, Scott spent summers building his resume with Peak Properties and Sheldon Good & Co. His father and grandfather both contributed to the success of Sheldon Good & Co.
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Frank Binetti and Mark Avis have joined Inland Home Mortgage Co. as president and EVP, respectively. Both have more than 20 years experience in mortgage banking. Inland expects to hire new loan officers in 2010, as it quickly expands its direct lending business. Customers will immediately see home mortgage product information at each of Inland Bank's 10 Chicagoland locations.
Awards
BOMA/Suburban Chicago announced the following winners of the North Central Region TOBY Award competition from Suburban Chicago by category:
- Corporate Facility: McDonald's Campus Office Building, managed by JLL's David Peterson
- Earth Award: Oak Brook Pointe, managed by CBRE's Cara Ursetta
- Historical Building: Robert A. Grant Federal Building & U.S. Courthouse, managed by GSA's Jim Morrison
- Medical Office Building: Edward Plainfield Medical Office Building, managed by BremnerDuke Healthcare Real Estate's Debra Strassburger
- Suburban Office Park/Mid-rise: Mid America Plaza, managed by CBRE's Kim DeFily.
- Suburban Office Park/Low Rise: Drake Oak Brook Plaza, managed by JLL's Kathy Fejes
- 100k-249K-SF: Highland Oaks II, managed by CBRE's Steven Hrbek
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Hammond Federal Courthouse in Hammond, Ind., has earned the BOMA 360 Performance Program designation. GSA's Richard Falzone manages the building. The award recognizes commercial properties that demonstrate best practices in all major areas of building operations and management.
