CHICAGO — Skender has completed construction of a two-story, 54,000-square-foot lab and office buildout for Hazel Technologies at 320 N. Sangamon St. in Chicago’s Fulton Market. Hazel is a USDA-funded technology company that develops solutions to extend the shelf life of fresh produce. The company is one of the first tenants to move into the new 13-story office building developed by Tishman Speyer and Mark Goodman & Associates. Hazel is moving from its current location at University Technology Park at Illinois Tech and plans to double its local workforce to approximately 100 employees this year. The buildout includes space for open research laboratory and lab support, 10,000 square feet of administrative and office space and 5,000 square feet of collaboration space. The project team included architect Perkins & Will, engineer Cosentini Associates and tenant representative CBRE.
Illinois
CHICAGO — Trammell Crow Co. (TCC) is set to open its Science Ready Lab Suites at Fulton Labs, a life sciences development in Chicago. These fully built out, move-in ready spaces span 3,000 to 7,000 square feet and provide advanced research and development space. Celadyne Technologies Inc. has signed a lease as the first tenant to occupy the Science Ready Lab Suites. The suites, which are available for occupancy beginning in August, will provide tenants with flexible lease terms and access to a shared lab equipment room. Fulton Labs is a two-building life sciences campus from TCC that spans 725,000 square feet. Jonathan Metzl of Cushman & Wakefield represented Celadyne Technologies in its lease.
CHICAGO — Interra Realty has negotiated the sale of a five-building multifamily portfolio totaling 67 units in Chicago for $5.9 million. All the properties are situated in the city’s Washington Park neighborhood and were developed in the late 1890s to early 1900s. All have received updated kitchens and bathrooms. The portfolio was 92 percent leased at the time of sale. Ted Stratman, Brad Feldman and Jeremy Morton of Interra represented the seller, GR82B Properties LLC. The team also represented the undisclosed buyer.
CHICAGO — Sterling Bay and Magellan Development Group have begun pre-leasing Millie on Michigan, a 47-story luxury apartment tower located at 300 N. Michigan Ave. in Chicago that is now complete. Residents are expected to take occupancy in July. The property features 289 apartment units, with monthly rents ranging from $2,164 to $4,848. Amenities include a fitness center, resident lounge, outdoor terrace, rooftop pool, dog lounge and bike storage. The building also features a 280-room boutique hotel and ground-floor retail space. The project marks the first residential development that Sterling Bay has completed.
CHICAGO — AmTrust RE has opened a coworking space at 33 North Dearborn, a 329,000-square-foot office tower in Chicago’s Central Loop. Named AmTrust Office Suites (AOS), the concept spans 22,000 square feet and offers both coworking spaces and mini office suites. AOS offers flexible lease arrangements, including monthly, quarterly and annual agreements. All AOS tenants have access to the property’s amenities, including a fitness center, bourbon lounge and onsite restaurants.
FREEPORT AND ROCKFORD, ILL. — Global Real Estate Advisors (GREA) has brokered the sale of a 207-unit multifamily portfolio for an undisclosed price. The portfolio includes five properties located in Freeport and Rockford that were built between 1966 and 2009. Bill Montana and Chris Sackley of GREA brokered the sale. A Chicago-based investor purchased the value-add portfolio.
ALSIP, ILL. — Logistics company Alsip Terminals has selected Principle Construction Corp. to build a 39,000-square-foot speculative warehouse in Alsip. Construction is expected to begin soon on the property, which will be located at 3600 W. 127th St. The project will feature a clear height of 26 feet, 32 dock doors, six drive-in doors, 111 trailer parking spaces and 40 car parking stalls. The property will be surrounded by a 6-foot-high security fence. Harris Architects is the architect. Chris Mergethaler and Rick Daly of Darwin Realty/CORFAC International will market the project for lease. Completion is slated for December.
CHAMPAIGN, ILL. — Coldwell Banker Commercial has arranged the sale of a 194,380-square-foot industrial building in Champaign for $9.4 million. Constructed in 2006, the property is located at 3310 N. Duncan Road. The facility features six dock-high doors, one drive-in door and onsite parking. A.J. Thoma III of Coldwell Banker Commercial Devonshire Realty represented the undisclosed seller. The buyer was also not released.
ST. CHARLES, ILL. — In a sale-leaseback transaction, Venture One Real Estate has acquired a 49,330-square-foot industrial building in St. Charles, about 40 miles west of Chicago. The sales price was undisclosed. Constructed in 1997, the property features three exterior docks, one drive-in door and parking for 100 cars. Ted Gates and David Prell of CBRE represented the unnamed seller. Venture One utilized its acquisition fund, VK Industrial V LP, which is a partnership between Venture One and Kovitz Investment Group.
HAINESVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the $2.1 million sale of a multi-tenant retail center located on East Belvidere Road in Hainesville, a city in Northeast Illinois. At the time of sale, the property was leased by Starbucks, Chicago’s Red Hots, Luxe Salon and Lakemoor Dental. Jason Lenhoff of Quantum represented the seller, a locally based private investor. A Wisconsin-based private investor was the buyer.