The Deal Sheet
| Parkway Properties has closed on its sale of 233 N Michigan, a 1.1M SF office property for a gross sale price of $162.2M to Commonwealth REIT. | |||
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| At closing, Parkway repaid the $84.6M first mortgage secured by the property that was previously scheduled to mature in July 2011. Parkway received net cash proceeds from the sale after the repayment of the first mortgage, which it used to reduce amounts outstanding under its revolving credit facility. | |||
Construction News Sales News *** Cawley Chicago Commercial Real Estate's Josh Hearne and Terry Grapenthin secured a buyer for 12 acres in the Crete Park of Commerce in the I-394 Corridor. The buyer, Silliker, plans to develop an expandable 60k SF R&D/food testing facility. *** Coldwell Banker Commercial NRT's James Hodur represented C. Johnson Drywall in the sale of 3800 S Morgan, a 45k SF building on 5.32 acres of land. South Chicago Packing purchased the building for $3.2M JV Leasing News *** Colliers International's Matthew Stauber and Thomas Rodeno represented Hegele Logistic in a 207l SF long-term lease at 855 N Wood Dale Rd in Wood Dale. They also repped building owner AMB Property Corp. Hegele is relocating from 90k SF in Grove Village. The company is expected to occupy the building in July. *** Whole Foods has signed a lease for 30k SF of ground-floor retail space at the southwest corner of 51st and Lake Park in Hyde Park. The project, designed by Studio Gang's Jeanne Gang will have both retail and residential components. An additional 20k SF of retail are available on the first floor and 30k SF remains to be leased on the second floor. *** | |||
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The Healthcare Financial Management Association has signed an extension of its lease of 23k SF at the Westbrook Corporate Center in Westchester. Jones Lang LaSalle's Karla Harmon repped the owner, Arden Realty. Colliers International's Joe Dvorak represented HFMA, which has been a tenant at the complex since 1988. The complex is 79% leased. *** | |||
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| CB Richard Ellis has been named the exclusive leasing agent for 150 N Wacker Dr by owner American Realty Advisors. CBRE's Ron Lakin and Rachel Waymire take over the building's leasing today. The 31-story, 244k SF office tower is two blocks from Ogilvie Transportation Center. *** Newmark Knight Frank Epic's Thomas Boyle, Gerald Olson, and Michael Noeh have been retained to market a 42-acre parcel of land known as Oak Creek Plaza in Mundelein. The site, which is expandable to 54 acres, is one of the largest parcels in central Lake County. Thomas says the site will replace the old Oak Creek Plaza retail center and could be healthcare, education, or multifamily. Executive Moves |
