The Deal Sheet
Company News
@properties has acquired a building at 26-30 Green Bay Road in Winnetka for its second North Shore Chicago real estate office. The company, founded 10 years ago by Michael Golden and Thaddeus Wong, will accommodate approximately 50 additional North Shore Chicago real estate agents in the 4k-SF office near the Indian Hill Metra Station. It will open in August.
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Magellan Project Services, an affiliate of Magellan Development Group, has formed a strategic alliance with architects Brininstool, Kerwin and Lynch and Korean general contractor Hanwha Engineering & Construction to propel the firm into global competition. The alliance will be able to provide architecture and construction services throughout the world.
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The 2009 CoStar Power Broker Awards were selected recently. CoStar tallies the commercial real estate sales and lease transactions that closed the previous year and rewards the brokerage firms and individual brokers who closed the highest transaction volume in commercial property sales and leases in each market.
Top Leasing Firms (alphabetically): CB Richard Ellis, Champion Realty Advisors, Colliers Bennett & Kahnweiler, Cushman & Wakefield, Darwin Realty & Development Corp, Grubb & Ellis, HSA Commercial Real Estate, Interstate Tenant Advisors, J.F. McKinney & Associates, Jones Lang LaSalle Americas, Inc, Lee & Associates of IL, LLC, MB Real Estate, Mid-America Asset Management, NAI Hiffman, Newmark Knight Frank, Paine/Wetzel ONCOR International
Studley, Transwestern, U.S. Equities Realty, UGL Equis
Top Sales Brokers:
Bruce Westwood-Booth - Jones Lang LaSalle Americas
Jeffrey F. Kahan - Colliers Bennett & Kahnweiler
Jim Carpenter - Cushman & Wakefield
John Gavin - Grubb & Ellis
Kenneth J. Szady - Cushman & Wakefield
Marty O'Connell - HFF, L.P.
Matthew D. Lawton - HFF, L.P.
Michael W. Vesper - CB Richard Ellis
Paul W. Lundstedt - Grubb & Ellis
Sean Fogarty - HFF, L.P.
Eight of the 20 industrial professionals named to the Top Industrial Brokers List are members of Colliers Bennett & Kahnweiler: David A. Bercu, Matthew J. Stauber, Vernon F. Schultz, Lynn E. Reich, James R. Estus, Steven A. Kohn, Charles V. Canale, and Brian W. Kling.
Find a complete list of winners here.
Auctions
Jameson Real Estate and Fine and Company auctioned 26 condominiums for more than $4.2 million at 1400 N. Lake Shore Drive, a historic condominium building in the heart of Chicago's Gold Coast developed by RDM Development.1400 N. Lake Shore Drive includes studio, one-, two- and three-bedroom residences. Building amenities include a day spa and salon, 24-hour front desk, gourmet grocer and dry cleaners
Construction and Architecture News
Krusinski Construction Company completed foundations and site work for the Pronger Smith MedicalCare expansion in Tinley Park. Structural steel will be erected next week on the 38k-SF medical office building addition, which includes MRI, CT, physical therapy and treatment rooms, pediatric exam rooms, sleep lab and an OB suite. Project partners include Irgens Health Care Facilities Group and Brubaker Architects.
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Krusinkski also completed a 12k-SF laboratory build-out was for Intertek. The space will be used to test textile materials, food and juvenile products. A test kitchen is also included. Kwasek Architects of Inverness designed the space.
People
Andrew Gallas has been promoted to associate VP, investments at the Downtown Chicago office of Marcus & Millichap. Andrew began his career with Marcus & Millichap as a sales intern in May 2004 and joined the firm's Seven-Figure Club in January 2010. Gallas focuses on net-leased properties throughout the United States and has closed properties in 15 states.
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Gavin T. Muldowney has joined Terraco, Inc. as Director of Asset Services. Gavin will be assisting with the leasing and management of Terraco's portfolio, and also working on new business development. Previously, he directed the national disposition program for Walgreens, completing over 700 transactions.
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Colin O'Donnel l has joined Corporate Concepts, the second largest Knoll dealer in the country. Colin will be calling on end users as well as A/D in his new position.
Receivership
Podolsky Northstar CORFAC International's Randy D. Podolsky has been named court-appointed receiver for three properties in Bolingbrook, Aurora, and Willowbrook. The appointments were made in the Will and DuPage County Circuit Courts. Podolsky will serve as the exclusive marketing agent and property management firm for the receiver, for the three properties which range in size from 20k-SF to 62k-SF. Two of the properties are fully leased. Podolsky's Steve McFarland and Melissa Podolsky are handling property management responsibilities.
Leasing news
Parts Town, a provider of replacement parts for restaurant and food-service equipment, has signed a long-term lease for 64k-SF at 1150 N. Swift Road in the Meadows Business Park in Addison. Cushman & Wakefield's Britt Casey and Mike Hawryluk represented the building's owner, a pension fund client of Lincoln Advisory Group, an affiliate of Lincoln Property Company. Cushman & Wakefield's Jason West and Sean Henrick represented Parts Town.
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Peerless Network, Inc., a telecommunications firm, will move its corporate HQ from 225 W. Washington to a 14k-SF sublease of space at 222 S. Riverside Plaza. Cushman & Wakefield's Alex Smith and Jordan Rovito repped Peerless, which is subleasing from R.J. O'Brien & Associates, who was repped by Studley's Richard Schuham and Marc Brash. Behringer Harvard owns the building.
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Houghton Mifflin Publishing Co. has renewed its lease of a 170k-SF warehouse and distribution center at 950 Raddant Road in Batavia. Cushman & Wakefield's Britt Casey and Gilbert Dailey represented Houghton Mifflin. RREEF owns the building.
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Jones Lang LaSalle's Matt Carolan represented Vibes Media in a 22k-SF, long-term lease at 300 West Adams. The national expert on mobile media will move from 205 W. Wacker in the third quarter of 2010. CB Richard Ellis' Chris Cassata repped building ownership.
