This Week's Chicago Deal Sheet
Yesterday, a JV of Regency Centers and Global Retail Investors secured $61M in refinancing for a four-property portfolio in Indiana, the Carolinas and Illinois. The deal signifies grocery-anchored shopping centers continue to be hot properties in 2016.
HFF’s debt placement team, led by Jim Cadranell, repped the JV in securing four separate 10-year, fixed-rate, interest-only loans with Sentinel Asset Management. The loan proceeds will be used to refinance existing debt. The portfolio includes Civic Center Plaza at 7801 Waukegan Rd in Niles (pictured), home to a Home Depot and H Mart, a popular Korean supermarket.
SALES
Avison Young’s Erik Foster and Mike Wilson repped the seller of the 35k SF Centregra Health medical office building at 420 N Route 31 in Crystal Lake (pictured). The buyer was MB Real Estate Healthcare.
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Brown Commercial Group closed the following deals totaling $3.5M:
- Mason Hezner repped the seller and Dan Brown repped the buyer of 1155 Bowes Rd in Elgin, which is fully leased to Response Team 1, a national restoration company.
- Brian Lindgren and Maria McNeil repped the seller and Dan Brown repped the buyer of 1820 Production Dr in St. Charles.
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First Western Properties’ Thor Madden, Stan Rivas and Mark Zeglen repped both parties in the sales of 2827 N Milwaukee Ave and 2871 N Milwaukee Ave Logan Square.
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The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller of a single tenant Fresenius at 300 North 1st St in Vincennes, IN, for $3.8M.
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American Landmark Properties acquired Corporetum III, a 92k SF office building (shown) at 750 Warrenville Rd in Lisle. JBS Commercial’s Jason Shibata and Brian Silverman will serve as the leasing agents.
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Marcus & Millichap’s Sean Delaney and Michael Mele repped both parties in the sale of Property Storage, a 68k SF self-storage facility at 210 John St in North Aurora.
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Cushman & Wakefield’s Eric Sorenson and Dirk Riekse repped both parties in the sale of a 152k SF warehouse at 8338 Austin Ave in Morton Grove. The buyer was The Missner Group.
LEASES
Transwestern’s David Friedland repped Rockpoint Logistics in a 292k SF lease renewal at 901 Bilter Rd in Aurora (shown). Landlord Lincoln Property Trust was repped internally.
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MB Real Estate’s Craig McCaw repped ReviewTrackers in a new 10k SF lease at 320 W Ohio. The J Rich Co’s Jason Schulz repped the sub-landlord, Red Frog Events.
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JLL’s Kris Bjorson and Chris Watts repped Hub One Logistics in renewing its 461k SF lease at Crossroad 2 at 1255 Schmidt Rd in Romeoville. Landlord Duke Realty was repped by Susan Bergdoll.
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NAI Hiffman’s Steve Connolly and Larry Much repped landlord Heller Industrial Parks in its 254k SF lease renewal with Oak Creek Distribution at 7557-7575 South 78th Ave in Bridgeview.
FINANCING
HFF’s Matthew Schoenfeldt and Brock Cannon repped Mariner Real Estate in arranging a $13.35M loan for St. Louis Place, a 20-story, 337k SF office building in St. Louis. HFF placed the five-year, floating-rate loan with Bank Midwest. Loan proceeds were used to acquire the building and fund future capital improvements.
HIRES/PROMOTIONS
DCT Industrial Trust hired Todd Vezza as SVP to oversee the firm’s real estate operations and capital deployment in the Chicago market. An 18-year industry veteran, Todd previously was director of industrial investments at Zilber Property Group.
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CBRE hired Jeffery Kapcheck as SVP in the firm’s industrial and logistics division. A 25-year real estate veteran who has completed over 900 transactions totaling $1B, Jeffery was most recently a principal at Colliers.
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Podolsky|Circle CORFAC announced Paul Tesdal joined the firm as SVP to enhance its middle market investment advisory team. Paul previously was a director at Marcus & Millichap.
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Skender Construction appointed Afshan Barshan, Dan Marijan and Andrew MacGregor to EVPs and partners at the firm.
KUDOS
Congratulations to Podolsky|Circle CORFAC’s Steven Podolsky, who was awarded the Richard G. Levy president’s award by the SIOR Chicago chapter executive board for his achievements in and outside the real estate industry.
