We Want Your March Madness Picks; The Deal Sheet
March Madness tips off tomorrow and we want to know who you're penciling in to win it all.
We expect workplace productivity to take a slight hit this month as office workers nationwide turn into statisticians and students of bracketology. In preparation for tomorrow's coverage, we have three questions we'd like you to answer:
- Who will take home the trophy?
- Where will we find you watching the games?
- If you could go pro, which sport and why?
Tell us today! marissa.oberlander@bisnow.com
SALES
Vancouver-based REIT Adventus Realty Trust acquired Oak Brook Office Center in Oak Brook, a four-building, Class-A office portfolio totaling 312k SF. The 90%-leased properties are anchored by Sanford, Olivet Nazarene, and several entities owned by Inland. The purchase was financed with a 10-year, fixed-interest loan originated by CIBC. Cushman & Wakefield's Michael Simpson, Dan Svachula, and Randel Waites repped the buyer along with Chuck Hoag and Jeffrey Cohen in Cushman's equity, debt, and structured finance group. HFF repped the seller.
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Kudan Group managing broker Jeremy Kudan and consultant Brian Laskov facilitated the sale of the former Steve's Deli at 354 W Hubbard. Hogsalt founder Brendan Sodikoff plans to open Dillman's, a traditional Jewish deli including a bakery/coffee shop, in the space this spring.
LEASING
Association Management Center (AMC) signed a 47k SF lease at O'Hare Plaza office complex (four buildings, 707k SF) on the far Northwest Side. Jones Lang LaSalle's Rick Benoy and Dan Fernitz repped the building owner, a private investment group advised by Fulcrum Asset Advisors. CBRE's Kevin Clifton and Gregg Witt repped AMC. The company will occupy all of the third floor and most of the second at O'Hare Plaza I building (8735 W Higgins Rd).
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Colliers principal Steven Kling, principal Francis Rock, and SVP Jason Simon repped McKnight Realty Partners in a 37k SF long-term lease renewal and expansion to Network Services Co at 1100 E Woodfield Rd (Two Woodfield Lake) in Schaumburg. CBRE's Hank Cox and Mark Smith repped Network Services.
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Chicago law firm Franczek Radelet PC signed a 10-year extension of its 36k SF lease at 300 S Wacker Dr in the West Loop. JLL's Melissa Rubenstein and John Beason repped the building owner, an affiliate of Virginia-based Harbor Group International. Transwestern's Tony Karmin, Corby Marx, and Michael Marrion repped Franczek Radelet.
FINANCING
HFF arranged $250M in financing for three Omni Hotels totaling 1,339 rooms in Texas (Omni Fort Worth pictured) and Illinois (Omni Chicago, 347 rooms at 676 N Michigan Ave). HFF repped Omni Hotels Corp in securing a 15-year, fixed-rate loan through Prudential Mortgage Capital Co. Senior managing director Whitaker Johnson, managing director John Bourret, and associate director Jim Curtin led the HFF team.
CONSTRUCTION & DEVELOPMENT
Meridian Design Build completed a 100k SF expansion to Kubota Engine America's US HQ in Lincolnshire, more than doubling the size of the facility. Timothy Morgan Associates provided architectural services and Manhard Consulting completed civil engineering work.
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JC Anderson completed a 20k SF expansion and renovation for Avanade (provider of business technology solutions and managed services) within the 50-story building at 161 N Clark St. Houston-based Planning Design Research provided architectural services.
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Summit Design + Build completed Municipal Bar + Dining Co, a 180-seat, 5k SF upscale sports bar/gastropub at 216 W Ohio in River North. Simeone Deary Design Group was the project designer and Byrne Design was the architect.
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Riis Borg Construction completed the new WGN Radio and office additions on the 7th floor of Trib Tower at 435 N Michigan Ave. The new location includes relocated offices, a sales area, news departments, and studios. The studio transitioned to a digital broadcast system last July.
EXECUTIVE MOVES
Studley tapped Bruce McConnell as senior managing director in its Chicago office and a member of the firm's national industrial services group. Bruce will lead the firm's Midwest industrial services practice. He was previously with CBRE for 18 years and received his BA from UPenn and his MBA from Northwestern.
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Colliers hired Masuo "Mas" Ishida as EVP in the company's industrial advisory group. A 26-year industry vet, he was most recently director of TOBI International Corp. Mas hails from Japan and currently lives in Glenview.
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Kellen Duggan joined First Western Properties as director of retail and office leasing. He received his undergraduate degree in business from Michigan State and his MBA in finance from UIC.
How will you celebrate the Vernal Equinox? It certainly doesn't feel like the first day of spring. Send ideas and suggestions to marissa.oberlander@bisnow.com.
