CHICAGO — Cushman & Wakefield has launched a global employee assistance fund, part of a $5 million commitment to employee assistance programs for those impacted by the COVID-19 pandemic. The fund has two components to provide financial relief to employees. The immediate relief fund addresses an immediate need by quickly disbursing up to $250 to eligible impacted employees who submit a request. The disaster and hardship fund is a larger payout for those more significantly impacted by the crisis. As part of this commitment to supporting front-line employees, members of Cushman & Wakefield’s global management team will voluntarily forgo a portion of their salaries. Effective April 20, CEO Brett White will forgo 25 percent of his base salary, while CFO Duncan Palmer and COO Michelle MacKay will forgo 20 percent of their base salaries. Effective May 1, President John Forrester will forgo 20 percent of his base salary until December 31, or earlier if determined by the board of directors. In addition, all of the firm’s 53,000 employees have been given the opportunity to make a charitable donation to the employee fund. “We have a responsibility to care for our employees with the same level of dedication that they’re showing …
CALUMET CITY, ILL. — Marcus & Millichap has arranged the sale of a 60-unit apartment property in Calumet City, a southern suburb of Chicago. The sales price was undisclosed. Located at 495-525 Madison Ave., the property consists of five 12-unit buildings on a 1.3-acre lot. Andrean Angelov, Ryan Engle and Anthony Hardy of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Angelov and Engle secured and represented the buyer, a limited liability company.
O’FALLON, ILL. — Barber Murphy has negotiated a 1,381-square-foot retail lease for Papa John’s USA Inc. in O’Fallon near St. Louis. OHM Family Enterprises LLC is the landlord for the property, which is located at 105-106 Regency Park Plaza Drive. Barber Murphy represented both parties in the lease.
AURORA AND DARIEN, ILL. — Sterling Bay’s industrial division, Sterling Bay Industrial, has welcomed two new tenants to its newest speculative distribution centers in Aurora and Darien. LGSTX Services, a national logistics company, has leased 335,384 square feet at 2350 Frieder Lane in Aurora. Sterling Bay completed development of the 503,244-square-foot facility at Butterfield Center for Business and Industry in partnership with Levy Family Partners and Development Resources Inc. It is now 65 percent leased. David Prell of CBRE represented the tenant, while Dominic DeRose and Charles Canale of Colliers International represented Sterling Bay. An undisclosed tenant signed a lease for 90,000 square feet at 1035 S. Frontage Road in Darien. Sterling Bay completed development of the 153,000-square-foot facility in partnership with DWS Group. It is now 60 percent leased. Jeff Fischer and John Whitehead of NAI Hiffman represented the landlord in the lease transaction. Premier Design + Build Group served as general contractor for the Darien project.
TINLEY PARK, ILL. — Marcus & Millichap has brokered the $5.2 million sale of a 14,421-square-foot property occupied by CVS Pharmacy in Tinley Park, a southern suburb of Chicago. Constructed as a build-to-suit for CVS, the building is located at 9551 171st St. Matt Emerick, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a developer. A Texas-based institutional buyer purchased the asset.
MCCOOK, ILL. — American Tire Distributors Inc. has renewed its 233,669-square-foot industrial lease at 9450 Sergo Drive in McCook, about 15 miles southwest of Chicago. Chris Mason of Newmark Knight Frank represented the tenant in the lease transaction. ML Realty Partners is the property landlord. American Tire Distributors provides tires, wheels and supplies for the automotive industry.
STREAMWOOD, ILL. — The Boulder Group has arranged the $2.2 million sale of an Andigo Credit Union ground lease in Streamwood, a northwest suburb of Chicago. Built in 2019, the single-tenant, net-leased property is located at 990 S. Barrington Road. Andigo has a 15-year lease at the building. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate group. A Southwest-based private real estate company was the buyer. There are currently seven Andigo branches across metro Chicago. Andigo intends to merge with Consumers Credit Union later this year.
CHICAGO — Summit Expedited Logistics has renewed and expanded its office lease at 55 W. Monroe St. in Chicago. The full-service transportation provider has signed a long-term lease extension and will expand its office on the 35th floor of the 40-story office tower. The expansion provides Summit the space to accommodate its growing sales team, nearly tripling its footprint from 6,378 to 15,844 square feet. Matthew Wright of Bradford Allen represented Summit in the lease transaction. Andrea Saewitz and Matt Lerner of Cushman & Wakefield represented the landlord.
CHICAGO — The temporary conversion of a portion of Chicago’s McCormick Place Convention Center into an alternate care facility for COVID-19 patients is expected to be complete by Friday, April 24. Walsh Construction, the contractor for the project, completed the first 500 beds earlier this month. The facility will have the capacity to treat up to 3,000 low-to-moderate acuity patients across three of the convention center’s halls. Patients will be separated by the level of care required. The Metropolitan Pier and Exposition Authority and the U.S. Army Corps of Engineers are directing the conversion of the temporary field hospital. The project is designed to relieve pressure on the city’s hospital system by freeing up beds for more patients with severe COVID-19 cases in anticipation of a surge in positive diagnoses. Stantec provided design and engineering services for the project.
AURORA, ILL. — Sonova, a provider of hearing care solutions, has signed a 63,647-square-foot office lease at 750 North Commons Drive in Aurora. Stanton Road Capital owns the 205,000-square-foot, two-building property, which is flexible for both office and industrial users. Stanton purchased the property in 2018 and is currently implementing a repositioning plan with modern amenities. It is currently 85 percent leased. Francis Prock, Dave Florent and Brian Kling of Colliers brokered the lease transaction. In mid-June, Sonova will consolidate three of its existing operations — two from Illinois and one from Minnesota — at the new location.