The Deal Sheet

Architecture and Construction

Horn Design completed the build-out of the corporate HQ for Centro LLC, a media and technology company at 222 W. Hubbard. Urban Innovations  was the general contractor and Alicia Bird was the project manager for the 13k-SF space.

***

Plans for a 315k-SF data center facility at 111 E. Cermak Road are moving forward, with city approval clearing the way for design and construction. The facility is being developed by JRM Technology LLC. James McHugh Construction Co. has been selected as the design-build contractor, with ESD Inc., as lead architect/engineer,Archideas the consulting architect and CS Associates, Inc. as structural engineer. The project is slated to be completed in early '11.

***

ARCO/Murray National Construction Co. has completed multiple building improvements for the common areas and vacant suites at 1 S. 450 Summit Ave. on behalf of TA Associates who is represented by NAI Hiffman Property Management. The building improvements included lighting upgrades to energy efficient T8 parabolic 2x4 fixtures and LED exit signs. ARCO/Murray's Joseph Pomerenk  was the project executive with Dan Bick  as the lead Project Manager. NAI Hiffman's Dan O'Neil  and  Doug Krahnke repped the tenant.

***

ARCO/Murray National Construction Co.  started construction of a 17k-SF office space renovation and 2k-SF showroom/warehouse build-out for TDK Corporation of America at 475 Half Day Rd. The build-out includes 23 private offices, custom aluminum framed glazing for two executive offices and a folding wall partition for the conference room. ARCO Murray's Brad Dannegger is the project executive with Dan Bick as the lead project manager. Partners In Design provided the architectural services. NAI Hiffman's Dan O'Neill and Garret Schultz repped the tenant.

Sales

Venture One Real Estate closed on a 63k-SF industrial facility at 1150 Lively Blvd in Elk Grove Village. The building was previously owned by  Flextronics International and is currently vacant. The seller was repped by Cassidy Turley's Dan Hollingsworth.

***

Marcus & Millichap's Nicholas Kanich has sold 2218 West Chicago Ave, a 6k-SF property located in Chicago for $655k. He repped both the seller, a limited liability company, and the buyer, a partnership. The six-unit mixed-use building in West Town/Ukrainian Village includes five apartments and a retail space.

***

Inland Real Estate Brokerage  announced the sale of two properties in the Chicagoland area: a two-story 9k-SF retail/office building at 711 Devon Ave, in Park Ridge that sold for $775k and a 2k-SF industrial condo at 1585 Beverly Court in the Aurora Corporate Center in Aurora that sold for $215k. Inland's Richard Kehoe and Robert Wall, represented the seller, Meridian Realty Corp., in Park Ridge. Inland's Heather Devermann, represented the seller, a grout removal company, in Aurora.

Auctions

Inland Real Estate Auctions, Inc. announced a collection of retail, residential, office and development property that will be sold during an auction on May 19 in Lombard, including a 50k-SF multi-tenant office building in Rolling Meadows that has been appraised at $3M but will be sold subject to a minimum bid of just $1.75 million. Other properties to be auctioned include a 9k-SF strip center in Richton Park and a 35k-SF commercial flex space in Merrillville, Ind.

Leasing

CB Richard Ellis announced the signing of eight new retailers to open this summer at Block 37, 108 N. State Street: Ladies and Gentleman, an Aveda  lifestyle salon with 6k-SF on level 3,iCandylicious a confectioner with 2k-SF in the Pedway, Which Wich, a sandwich shop with 2k-Sf in the Pedway, Alternatives Shoes, a 1k-Sf shop on Level 1, Simply Thalia, a pan-Asian restaurant with 1k-Sf in the Pedway, Andy's Frozen Custard, 1k-Sf in the Pedway, Michelle Tan, a women's fashion boutique with 1k-SF on Level 2, and Comic Vault, a comic book shop with 294 SF on Level 3.

***

SABIC Polymershapes has signed a lease renewal for 30k-SF in Schiller Park. Podolsky Northstar CORFAC International's Randy D. Podolsky, Steven H. Podolsky, and Adam J. Tarantur repped the landlord, KTR Capital. SABIC has leased and will continue to occupy the single-tenant facility at 10525 Delta Parkway. Barack Ferrazzano's Dapo Adedeji provided legal services to KTR Capital.

***

Advanced Environmental Systems has leased 14k-SF of industrial space at 1470 Norwood Drive in Itasca. Podolsky Northstar CORFAC International's Randy Podolsky and Adam Tarantur repped owner KTR Capital Partner s. GM Smith & Sons Realty's Cathie Smith repped the tenant.

***

Foundation Industries has leased 42k-SF of industrial space at 1757 Marshall Ave. in Des Plaines. Podolsky Northstar CORFAC International's Adam Tarantur completed the tenant rep assignment. CBRE's Pat McCourt repped the owner, TA Realty Associates.

***

Neutral Tandem, Inc. a Chicago based telecommunications provider, will consolidate two existing Chicago offices into a new 28k-SF corporate HQ at 550 W. Adams Street. Cushman & Wakefield's Alexander Smith and Jordan Rovito represented Neutral Tandem in the transaction, an 11-year sublease from USG Corporation. USG was represented by UGL Equis' David Stefancic.

***

Inland Real Estate Corporation  signed four new leases totaling 6k-SF in the Chicago area, all to retailers planning to open this spring. The leases included 2k-SF to Chiro One, a chiropractic center at 5472 W. 159th St. in Oak Forest, a 2k-SF space to Salon GB at Hawthorn Village Commons in Vernon Hills, a 1k-SF space to Bein Assorti, a nail salon, at Gateway Square in Hinsdale and a 1k-SF Little Caesar's at Park Center Plaza in Tinley Park.

***

Worldwide Material Handling Products, LLC has signed a lease for 35k-SF at 32 Forestwood Drive in Romeoville. Champion Realty Advisors' J.D. Salazar and Michael Bader represented the landlord,Tom Rediehs. Transwestern's Randy Koch and Fred Freeman represented the tenant.

***

Morgan Realty Partners' Bill Waliewski represented landlord Westmont Business Park  in two new leases within the Oakmont Business Center at 825 N. Cass Avenue in Westmont. In the first transaction Allen Chiropractic Orthopedics, a chiropractic physicians group, leased 2k-SF of office space and was self-represented. Truffleberry Market  a Chicago-area catering company also leased 1k-SF of tech space within the property. Advocate Advisors' Dan Obiala  represented Truffleberry Market.

Company News

Sperry Van Ness has launched mobile marketing of its commercial property listings. Beginning this month, SVN will offer two-dimensional barcode technologies, also known as QR codes, incorporated into standard marketing materials such as signage, property flyers, and marketing packages. The first commercial property listing for SVN that will feature this style of marketing is in the luxury high rise development Alta At K Station at 555 W. Kinzie.

***

Colliers International, a subsidiary of FirstService Corporation has completed a major investment in Chicago's leading commercial real estate services firm, Colliers Bennett & Kahnweiler. The firm will serve as the Midwestern regional hub of Colliers International and have the financial support of a global firm. Professionals in the Midwestern hub will have better access to information, knowledge and people across the entire Colliers International platform. As an integral component of Colliers International, Colliers B&K becomes part of the third largest commercial real estate services firm in the world with 15,000 employees operating out of 480 offices in 61 countries and with revenues of nearly $2 billion.

People

Randall Priester has joined ARCO/Murray National Construction as traveling project superintendent. He has more than 30 years of experience in the industry, including the last 15 years traveling.