The Deal Sheet
SALES
Baum Realty Group and Cushman & Wakefield completed the sale of the retail property at 11 E Walton St. Acadia Realty Trust paid $44M for the retail podium at the base of the Waldorf Astoria Chicago (above). The 6,738 SF space is home to Marc Jacobs and Yves Saint-Laurent, tenants secured by Baum principals Adam Secher and Janika Brenner.
***
Frontline Real Estate Partners purchased a 50k SF industrial building at 707 Remington Rd in Schaumburg. Lee & Associates of Illinois principal John Sharpe and senior associate Ronan Remandaban repped the seller, Rubin Development.
***
Monroe Asset Management sold a single tenant net-leased Chase Bank at 353 W 83rd St in the Chatham Market shopping area to a private investor, prior to completion of construction. CBRE NNN Retail Investment Properties FVP Michael Kaider repped Monroe Asset Management in the sale.
***
Visographic purchased a 38k SF industrial building at 1220 National Ave in Addison. Lee & Associates of Illinois principal Jeff Janda and SVP Mike Plumb repped the seller, Castaldo & Kasovic; NGKF’s Jim Cummings repped the buyer.
***
Quantum Real Estate Advisors president Chad Firsel and SVP Dan Waszak repped the seller, a Boston-based global financial institution, in the $7.6M sale of Evergreen Square, a 117k SF multi-tenant retail center in Peoria. The buyer was an investment group based in Milwaukee.
***
Jungle Kings purchased a 30k SF manufacturing building at 3545-3555 Stern Ave in St. Charles. Lee & Associates of Illinois VP Nick Eboli repped the seller, LLA Development and Morken & Associates’ Steve Morken repped the buyer.
***
Transwestern managing directors Gary Nussbaum and Thomas Gorman, along with senior associate David Matheis, brokered the $5.7M sale of 1717 Park St (above) on behalf of seller Quarter Circle Capital. The 114k SF, mid-rise office building is located in the Park Place of Naperville Business Park in Naperville, and was purchased by Deen Investment. The property was 69% leased at the time of sale.
***
Quantum Real Estate Advisors president Chad Firsel repped both sides in the $2.8M sale of Quentin Corners, a 47k SF retail center in Palatine, to a local cash buyer. Located on Northwest Highway and Quentin Road, the property was less than 50% leased at the time of sale.
BUSINESS
Mortenson Construction is establishing a formal development office and appointed Randy Tieman director of real estate development. Working with VP and Chicago office head Greg Werner, Randy will lead development projects from project feasibility analysis, site selection and acquisition, planning, and financing through completion. He was previously managing director of real estate for Janko Group.
CONSTRUCTION & DEVELOPMENT
MB Real Estate completed a new 67k SF industrial document storage facility for RhinoDox within the Brewster Creek Business Park in Bartlett. RhinoDox maintains its corporate HQ in Glendale Heights and plans to use the new facility for offsite document storage. MBRE served as project manager and NAI Hiffman repped RhinoDox in the site selection.
LEASING
A&C Global, repped by Lee & Associates of Illinois principal Chris Nelson, leased 52k SF of industrial space at 1502 N 25th Ave in Melrose Park. CBRE’s Kevin Segerson repped ownership, Principal Life Insurance Co.
***
Lee & Associates of Illinois VP Scott Anderson repped Hayes Beer Distributing Co in a 34k SF renewal of warehouse space at 5009 W 112nd St in Alsip, owned by Prologis.
***
Bradford Allen Realty Services managing director Andrew DeMoss completed 23 lease transactions on behalf of Farbman Group over the past 12 months at 79 E Monroe and 209 W Jackson, bringing the buildings’ occupancies to 98% and 84%, respectively. Most recently, Brickfish (repped by MBRE’s Danny Nikitas, Konstantine Sepsis, and Doug Noble) signed a 13k SF lease at 209 W Jackson, and Total Support Solutions (repped by Macklin Advisors’ Shawn Sullivan) signed a 12k SF lease at 79 W Monroe.
***
Lee & Assocaites of Illinois VP Sergio Chapa and associate Jim Kettinger repped MK Fabrications in an 11k SF lease of industrial space at 6919 51st St in Kenosha, Wis. RFP Commercial’s Paul McBride repped ownership, Southport Heating.
EXECUTIVE MOVES
Colliers promoted Evan Djikas, a member of its occupier services group, and Jonathan Kohn, with the industrial advisory group, to EVP. The firm promoted Darryl Silverman, part of the office advisory group, to SVP and Jeannine Reed, in the real estate management services division, to SVP, executive director of operations. Mark Las was promoted to VP of information technology.
***
Rick Scardino (above right), a 26-year industry vet who founded the retail division of Lee & Associates of Illinois in 2010, has been promoted to principal. His recent deals include the sale of the former Gold’s Gym in Gurnee and four new Red Robin leases in 2013. Prior to joining Lee, Rick was president of Affinity Commercial Real Estate, which he founded in 2003.
***
Todd Bateman joined CBRE as VP and North American agency practice leader of its data centers solutions group in Chicago. With expertise in global corporate services and mission critical facilities, Todd has worked with clients such as Digital Realty, Sabey Data Centers, and Ubiquity Cricial Environments.
***
Marcus & Millichap Capital Corp promoted Dean Giannakopoulos from associate director to director in the firm’s Chicago Downtown office. Dean arranged about $70M in commercial financing for both internal and external clients in 2013. He received a BS in finance from U of I in Urbana-Champaign.
***
Mid-America Asset Management hired Teddy Adamczyk as assistant asset manager. His responsibilities include day-to-day management of retail centers and being a liaison among clients, tenants, local government, and corporate office on all property related matters. He graduated from Loyola University Chicago and previously worked in the insurance industry.
