The Deal Sheet
SALES
Cushman & Wakefield’s Brad Weiner and Whit Heitman, with Paine/Wetzel’s Jeff Girling and Terry Lynch, repped buyer Magid Glove & Safety in the acquisition of 1300 Naperville Dr (above), a 704k SF industrial building in Romeoville. Magid will consolidate two existing locations and relocate its primary manufacturing operations and HQ to the site. C&W’s Jason West and Sean Henrick repped the seller, Venture One Real Estate.
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Avison Young, led by principal Suzanne Martinez, repped Sumitomo Corp of Americas (SCOA) in the purchase of 581k SF of office space within the 27-story building at 203 N LaSalle in the Loop, the firm’s first local acquisition and a 1031 exchange. The seller was a JV including M&J Wilkow (which will continue to manage the property) and HCI Capital AG. AY’s Eric Myers, Brad Despot, and Michael Curran will serve as exclusive leasing agents for the office tower.
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DiamondRock Hospitality completed the $30.1M sale (including $4M of seller financing) of Oak Brook Hills Resort. The 386-room hotel was sold to an unaffiliated third party. It generated about $1M of hotel adjusted EBITDA and had negative NOI during the trailing 12-month period ending March 31.
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MB Real Estate completed the sale of 20k SF within 55 W Wacker to Taipei Economic and Cultural Office in Chicago (TECO-Chicago), which will relocate its Midwest office from Two Prudential Plaza. MBRE EVPs Kevin Purcell and Mark Buth, along with SVP Walter Hennig, repped ownership. Studley’s Lisa Davidson and James Stein repped TECO-Chicago.
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Mid-America Real Estate’s investment sales team (Joe Girardi and Dan Cohen) brokered the 57k SF final phase (above, including Best Buy, Famous Footwear, Panera Bread) of The Shoppes of Nagawaukee in Delafield, Wis., the third transaction the firm has completed on behalf of Plymouth, Minn.-based Told Development at this shopping center since 2012. Wauwatosa, Wis-based Wangard Partners purchased the property for $13.8M. In all, the three phases of the shopping center totaled over 276k SF of owned GLA and were sold for a total of $51M-plus.
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The Missner Group, repped by Edward Adler and Colliers’ Jason Simon, acquired two single-story office properties totaling 75k SF in Schaumburg. Located at 1 E Commerce Dr (52k SF) and 55 E Commerce Dr (23k SF), they are situated on seven contiguous acres of land. The seller was Omron Global (repped by JLL’s Andrea Van Gelder and Sean Reynolds), which consolidated and relocated to Hoffman Estates.
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CBRE’s Keely Polczynski brokered the $3M sale of 6,500 SF 946 W Randolph St. The buyer was a private investment firm and the seller was NRP. StubHub and Starbucks are current tenants in the space, which is located near the new Morgan CTA stop and 1K Fulton.
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Essex Realty Group completed the $2.4M sale of 7381 N Damen Ave, a 32-unit courtyard building (above) in Rogers Park. Doug Imber and Kate Varde repped the seller and Jim Darrow and Jordan Gottlieb repped the buyer.
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Chicago Real Estate Resources’ Michael Tolliver repped the seller in the $1.2M acquisition of 5219 S Calumet in Washington Park. NextUPChicago’s Micky Cicchinelli repped the buyer of the 26-unit multifamily property.
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SVN | Chicago Commercial’s Jeffrey Baasch and Brian Kochendorfer repped the seller in the $1.1M sale of a five-unit multifamily building at 1870 N Halsted St in Lincoln Park.
EXECUTIVE MOVES
Shawn Novak joined CBRE as VP within its data center solutions group. He will lead consulting engagements nationwide for organizations requiring data center mission critical facilities strategies and solutions. Shawn was previously managing director at the 451 Group within the Digital Infrastructure planning advisors.
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Joe Daly joined Darwin Realty and Development Corp as an associate in its Elmhurst office, offering a full range of brokerage services, primarily in the O’Hare and West Cook submarkets. Prior to Darwin, Joe was a sales executive at Acquirent and also spent time at BJB Properties. He earned his bachelor’s degree from Marquette.
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Blueprint Healthcare Real Estate Advisors tapped Connor Doherty as an associate. He was previously an investment manager at Pearson Realty Group. At Blueprint, Connor will work with investors and operators of independent living, assisted living, skilled nursing, and CCRC properties in Ohio and surrounding markets. He has a degree in urban planning from Miami University.
