JUSTICE, ILL. — Cawley Chicago has brokered the sale of a 45,000-square-foot medical office building in Justice, a southern suburb of Chicago. The sales price was undisclosed. Willow Springs Surgery Center anchors the two-story facility, which is located at 9050 W. 81st St. Rawly Lantz and Justin Harris of Cawley Chicago represented the seller, First Step Holdings, and will retain the leasing assignment moving forward. A private local investor was the buyer.
WAUKEGAN, ILL. — Venture One Real Estate has purchased a 37,247-square-foot industrial building in Waukegan for an undisclosed price. The single-tenant property is located at 1429 Shields Drive. Constructed in 2004, the building features a clear height of 28 feet, four exterior docks, one drive-in door and 5,738 square feet of office space. Venture One plans to make improvements such as office renovations, new paint and new LED lighting. The undisclosed tenant is vacating the property in December of this year. Chris Volkert, Ned Frank and Pat Hake of Colliers will market the building for lease. Venture One’s acquisition fund, VK Industrial V LP, is a partnership between Venture One and Kovitz Investment Group.
LAKE ZURICH, ILL. — Factor, a ready-to-eat meal delivery service, has opened a new fulfillment and distribution center in Lake Zurich, a northwest suburb of Chicago. The nearly 100,000-square-foot facility is located at 1325 Ensell Road. Factor already occupies production facilities in Aurora and Burr Ridge, as well as a distribution center in Lyons and corporate offices in Batavia. Factor was founded in 2013 and acquired by HelloFresh in 2020. Dan McGillicuddy, Charlie Kenning and Charlie Mintz of JLL represented HelloFresh in the Lake Zurich deal.
AURORA, ILL. — Thales Defense & Security Inc. has signed a 24,673-square-foot office lease at 750 Commons Drive in Aurora, located about 40 miles west of Chicago. Thales will move from 1444 N. Farnsworth Ave. in Aurora once tenant improvements are completed and the new lease commences in mid-2022. The 205,000-square-foot, two-building property, which supports both office and industrial users, is now fully leased. Stanton Road Capital purchased the asset in 2018 and added amenities such as a fitness center, tenant lounge, conference center and training center. Francis Prock and Dave Florent of Colliers are the leasing agents for the property. Kellen Monti and Chris Bynum of JLL represented Thales.
MATTESON, ILL. — Marcus & Millichap has arranged the $5.1 million sale of a 10,502-square-foot retail building in Matteson, a southern suburb of Chicago. The property, located at 4801 211th St., has been fully occupied by the same four tenants since its construction in 2011. Tenants include Verizon, Chipotle, Five Guys and Vitamin Shoppe. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a local developer. Carlos Cain of Marcus & Millichap secured and represented the buyer, a Mexico-based limited liability company. The deal was part of a multi-property purchase with debt structured by Anita Paryani-Rice of Marcus & Millichap Capital Corp.
CHICAGO — SPINS, a data provider and advocate for the health and wellness industry, has preleased 47,883 square feet of space at 311 W. Huron, a new office development in Chicago’s River North. The developer, North Wells Capital, plans to break ground in April. SPINS will serve as the anchor tenant of the 15-story building upon completion in late 2023. The 153,611-square-foot building will be part of Verso, a three-phase development. Jeffrey Skender, Ari Klein, Scott Shelbourne and Marcus Berglund of Cushman & Wakefield represented SPINS. Melissa Rubenstein, Annie Nicolau and Anna Panici of JLL represented ownership. SPINS currently occupies space at 222 W. Hubbard, which is also owned by North Wells Capital.
SAN FRANCISCO — San Francisco-based Sansome Pacific has acquired a value-add portfolio of 10 retail and hospitality properties in California, Oregon, Connecticut, Illinois, Maine and New Hampshire for $20.6 million. The portfolio offers a total of 204,000 square feet. A majority of the properties feature below-market rents and short-term leases. The properties were acquired from a debt fund that buys loans encumbering underperforming mall properties. The two hotel assets, located in California, are 60-key properties. The retail assets include both single-tenant and multi-tenant buildings with lease terms ranging from one to six years along with freestanding pad buildings located near shopping malls. The larger mall assets are in various phase of renovation and will be upgraded in the coming years. Skyline Pacific Properties provided financing for the portfolio.
CHICAGO, CINCINNATI AND INDIANAPOLIS — Taurus Investment Holdings LLC has purchased an 18-building industrial portfolio totaling 1.5 million square feet across metro Chicago, Cincinnati and Indianapolis. Prologis sold the portfolio for $145.3 million, according to Crain’s Chicago Business. The buildings are 94 percent leased to 40 national, regional and local tenants. Boston-based Taurus currently owns more than 15 million square feet of industrial product nationwide.
ADDISON, ILL. — A joint venture between Illinois-based real estate investor Clear Height Properties and Harbert US Real Estate, an investment strategy sponsored by Harbert Management Corp., has acquired an 83,745-square-foot industrial portfolio in Addison, a western suburb of Chicago. The purchase price was not provided. The four buildings are situated along Cortland Court. The portfolio is just over 90 percent leased to a variety of tenants. Erik Foster, Mike Wilson, Adam Haefner, Zeke Rowan and Martin Mikaitis of Avison Young represented the undisclosed seller.
WOODRIDGE, ILL. — Eaton, a provider of power management technologies and services, has preleased a 370,973-square-foot industrial development in Woodridge, a southwest suburb of Chicago. The developer, Duke Realty Corp., began construction of the speculative project in August. Completion is slated for this July. The 21-acre site at 10000 Woodward Ave. was previously home to a vacant movie theater. The project will feature a clear height of 36 feet, 37 dock doors, four drive-in doors, 44 trailer spaces and 343 parking spaces. Jason Lev of CBRE represented Eaton, while Jason West and Sean Henrick of Cushman & Wakefield represented Duke.
