The Deal Sheet
| Meridian Design Build broke ground on a 100k SF build-to-suit for developer Venture One Real Estate at Loves Park Corporate Center. | |
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| The project, scheduled to be completed in Q4, will serve as a warehouse/distribution facility for Danfoss Drives, a global company that specializes in the manufacture, sales, and service of variable speed drives and electronic motor controls. Meridian is coordinating the project on a design-build basis with Heitman Architects and Jacob & Hefner Associates providing architectural and civil engineering services. | |
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Construction News *** JC Anderson has completed a 12k SF interior renovation at 8420 W Bryn Mawr for Fieldwork Chicago-O'Hare, which is relocating from the 6th floor to the 2nd floor. The build-out included five new meeting and viewing rooms with lounge areas that feature double-paned laminated glass. Team leaders were JC Anderson's Tom Raveret and Joe Maguire. The superintendent was JC Anderson's Brian Elvidge. Torchia Associates provided the architectural services. *** Reed Construction has completed a 16k SF office build-out for Regus at the Old Orchard Towers located at 5250 Old Orchard Rd in Skokie. Reed was hired by the owner of the property, Zeller Old Orchard, to complete the new business center for Regus, which features multiple private offices, a server room, conference rooms and a business café. Reed's Jack Hennessy was the project executive and Hank Sembdner was the project superintendent for Reed Construction. idGROUP, a Dallas-based architectural firm, provided the design services. *** The Missner Group is wrapping up an $8M, 60k SF build-to-suit for Greenwood Associates, a national processor of fruit juice concentrates, essential oils and purees, at 6280 W Howard St in Niles. The Missner Group, led by Barry Missner, orchestrated the successful resolution of seven easements, brought sewer and water infrastructure to the site, demolished an existing parking lot, and managed all of the zoning requirements. Construction includes an onsite laboratory with microbiology and acid/PH testing capabilities to demonstrate food safety compliance. Leasing News
*** Arthur J Rogers & Co's Chris Zannis recently completed three leases within Rogers Business Parke-Elgin:
*** Concentra Health Services leased 6,160 SF of retail space at 3145 S Ashland Ave in Chicago from FW IL-Riverside/RiversEdge LLC. CB Richard Ellis's John Woolsey, Warren Willey, Jordan Buis, and Searcy Ferguson represented the tenant. *** AmWins Brokerage of Illinois leased 23k SF at 10 S LaSalle St from Madison LaSalle Partners. CB Richard Ellis' Jordan Buis and Warren Willey represented the tenant. Sales News *** Paine/Wetzel · ONCOR International is pleased to announce that it has completed two industrial sale transactions. Trigon International has purchased a 75k SF industrial building within the Meridian Business Campus at 4000 Sussex Ave in Aurora. Paine/Wetzel's Jerry Sullivan and Brandon Wright represented the buyer. The seller, Duke Realty, was represented by Paine/Wetzel's Elise Couston, and William Kerrins. Kirsan Engineering purchased a 33k SF industrial building within the LakeView Corporate Park located at 8201 100th Street in Pleasant Prairie, Wisc. Paine/Wetzel's Whit Heitman, Sam Badger, and Brad Weiner represented the buyer and Grubb & Ellis's Ryan Kehoe repped the seller, PPG Industries. *** An affiliate of KTR Capital Partners closed on the acquisition of 3920 Enterprise Ct in Aurora. The 177k SF front-load facility was acquired through a sale-leaseback transaction with Cano Container, which will continue to occupy the building on a long-term basis. This is KTR's second investment in the I-88 corridor. *** Newcastle Limited has acquired two investment properties, 525 W Stratford and 1200 W Granville, in an all cash deal for $9.1M. Newcastle purchased the properties on behalf of its $500M Chicago real estate investment platform. Apartment Investment Advisers'Jack Cassin and Bill Cassin represented the seller. 525 W Stratford is a 59-unit apartment building, featuring a mix of studio, one- and two-bedroom units, and parking. 1200 W Granville is a mixed-use property with of 6,750 SF of retail space and 32 studio apartments. Executive Moves *** Yitzie Sommer has been promoted to VP at Marcus & Millichap. Yitzie works in the firm’s Chicago Downtown office. He began his career with the firm in 1999 as a part-time research intern in the Chicago office. He joined the firm full time in 2001 as the research manager for the Chicago, Indianapolis, and Milwaukee offices. He graduated from Brandeis University with a bachelor’s in political science. *** Michael Washington has joined Reed Construction as project manager. Michael brings 10 years of experience to his new position, where he will be responsible for preparing estimates and proposals; purchasing trades; and drafting and negotiating trade contracts. He was previously with Oakley Construction Co. and holds a Master's degree from Northwestern University. *** Andrew Maletich joined Cawley Chicago Commercial Real Estate, previously working in the floor covering business where he most recently served as VP of the of one of the largest contractors in the Chicagoland area. He has an extensive background in construction build-outs, purchasing and contract negotiations, which will serve him well in the real estate industry. *** Matt Jones has joined the Kiser Group as a managing director. Matt brings a strong background in multifamily brokerage, leasing, development, and management to his position at Kiser Group. Prior to joining Kiser Group, Matt worked for a national brokerage firm and a boutique leasing firm, specializing in Chicago apartments. Matt also works closely with various real estate and community organizations, serving as a member of the Edgewater Uptown Builders Association, the Chicagoland Apartment Association, the Susan Hay Hemminger Scholarship Foundation, and the Leukemia and Lymphoma Society. Management News Legal News Finance News Auction |
