This Week's Chicago Deal Sheet

Suburban companies moving to downtown make the headlines, but there are firms that choose to remain in the burbs. NEC Display Solutions of North America is not only staying in the suburbs, it is relocating from its 40K SF home in Itasca to a new 47K SF headquarters in Downers Grove.

The lease at Hamilton Partners' Esplanade V, 3250 Lacey Road, includes a 6K SF technology showcase and demo facility for client engagement, and a 5K SF research and development lab. NEC President Todd Bouman said the new space will better align the company with its mission as a leading technology firm, and will provide a more modern, efficient office layout for employee collaboration.

CBRE’s Chad Freese, Paul Diedrich, Jon Springer and Matthew Frazee represented NEC. Hamilton Partners’ Phil Sheridan represented ownership.

SALES

Marcus & Millichap’s Ryan Engle represented the buyer and procured the seller in the $11.1M sale of Orchard Estates, a 156-unit apartment building in south suburban Alsip.

***

Avison Young’s Erik Foster and Mike Wilson represented the seller, Mirvac, in the sale of a three-property industrial portfolio in the Elk Grove Village. The assets are a 111K SF building at 1900 Pratt Blvd., a 165K SF building at 1950 Pratt Blvd. and a 262K SF building at 2000-2020 Pratt Blvd. LBA Realty was the buyer.

***

Interra Realty’s Craig Martin and Colin O’Malley were the sole brokers in the $4.8M sale of a retail property with a CVS Pharmacy ground lease at 2000 Skokie Valley Road in Highland Park.

***

Baum Realty Group’s Patrick Forkin completed the following transactions:

• Forkin represented the seller in the $6.3M sale of a five-acre site leased to a Hyundai dealership at 1020 East Golf Road in Skokie.
• Forkin represented the seller in the $2.2M sale of a Verizon Wireless retail property at 290 South Perry Road in Plainfield, Indiana.
• Forkin represented the seller in the $1.3M sale of a property leased to Arby’s at 139 North Northwest Highway in Palatine.

LEASES

Colliers International’s Tom Berarducci and David Burden represented Peapod in its 53K SF headquarters relocation from Skokie to 300 South Riverside. The Telos Group’s Matt Pistorio and Joy Jordan represented ownership, Third Millennium Group.

***

White Oak Realty Partners’ Tom Saletta represented ownership in five leases, totaling 75K SF at 200 West Jackson. Four new tenants include Camelot Illinois (17K SF), NADEX (13K SF), Pure Circle USA (17K SF) and Kelso-Burnett (9,246 SF). Additionally, U.S. Legal Support renewed its 18K SF lease.

***

Hamilton Partners announced a 69K lease extension with Jewel-Osco at Hamilton Lakes Business Park, 150 Pierce Road in Itasca.

***

NAI Hiffman’s Jim Adler, Dan O’Neill and Patrick Kiefer represented landlord Agellan Capital Partners in four new leases at Naperville Woods Office Center, 1000 and 1100 East Warrenville Road in Naperville:

• Equian signed a 20K SF lease on the second floor of 1000 East Warrenville Road, and was represented by McDermott Commercial’s Mark McDermott.
• Gallagher Benefit Services signed a 14K SF lease, and was represented by CBRE’s Jon Springer and Trevor Jeske.
• True North Consultants signed a 4,445 SF lease and was represented by Jeff Possin.
• Kreamer Law Group signed a 1,654 SF lease.

***

EnTrust Realty Advisors’ Jim Clark represented Digital Bridge Solutions in a 6K SF sublease at 412 South Wells. The space will serve as Digital Bridge Solutions’ new headquarters.

HIRES/PROMOTIONS

Northern Builders promoted Kenneth Nyenhuis to vice president. Nyenhuis will handle pre-construction, development, value design and engineering to secure new business opportunities.

***

Avison Young hired Fred Ishler as a principal. A 28-year industry veteran, Ishler was most recently at Transwestern, where he was co-leader of its Midwest leasing team.

***

Proper Title hired Gabe Krych as senior commercial title underwriter. Krych has 40 years of commercial real estate experience and has been involved with many noteworthy projects in Chicago, including The Ritz-Carlton and Park Tower. She will be based out of Proper Title’s Palatine office.

CONSTRUCTION

Skender Construction completed a 21K SF office build-out for Monsanto subsidiary The Climate Corp. at Fulton West, 1330 West Fulton Market. Skender, serving as general contractor, worked with Shive-Hatterly and owner’s representative COR Consulting.

***

Northern Builders announced a 307-acre expansion of Carlow Corporate Center in Bolingbrook. Carlow XVI features 36-foot clear heights, cross-dock configuration, 80 trailer parking stalls and 200 parking spaces. Colliers International’s David Bercu and Jim Estus are the leasing agents for the development.

***

Krusinski Construction Co. broke ground on a new Prologis development in Bolingbrook. The site is the future home of JAS Forwarding Worldwide. The 82K SF LEED-certified distribution center sits on five acres and will include 24 loading docks, 78 parking stalls and two drive-in doors. The Krusinski team consists of Jeffrey Krusinski, Michael Metz, Justin Risetter and Scott Rudolph. Krusinski is working with architect Ware Malcomb and landscape architect Kimley Horn on the project.

***

Shawmut Design and Construction completed the build-out of a new Benihana restaurant inside the John Hancock Center. The 9K SF restaurant marks Benihana’s return to Chicago, and is Shawmut’s first completed project since opening a new Chicago office earlier this month.