MCCOOK, ILL. — Holly Hunt Enterprises Inc. has signed a 210,315-square-foot industrial lease in McCook, a western suburb of Chicago. The designer and manufacturer of furniture, lighting products, textiles and leather products will occupy the space at 9450 Sergo Drive. Vern Schultz and Mike Senner of Colliers International represented Holly Hunt Enterprises in the lease transaction. Jason West, Sean Henrick and Larry Goldwasser of Cushman & Wakefield represented ownership, ML Realty Partners.
CHICAGO — SVN | Chicago Commercial has brokered the sale of a 4,200-square-foot retail building in Chicago’s Fulton Market for $1.7 million. The two-story property is located at 1039 W. Lake St. Scott Maesel and Drew Dillon of SVN | Chicago Commercial represented the seller, Sterling Bay Co. Lee French and Tim Rasmussen represented the undisclosed buyer.
PLAINFIELD, ILL. — Midwest Industrial Funds has acquired a 49,000-square-foot industrial building in Plainfield, located 38 miles southwest of Chicago, for an undisclosed price. The multi-tenant property is situated on 3.7 acres at 24317 W. 143rd St. Constructed in 2007, the building features a clear height of 26 feet, eight exterior loading docks, eight grade-level doors, parking for 71 cars and an ESFR fire suppression system. The property was 88 percent leased to five tenants at the time of sale. Midwest Industrial Funds plans to enhance the exterior and landscaping as well as perform interior improvements to the vacant portion. Cory Ramey of John Greene Industrial represented Midwest Industrial Funds in the transaction. Mark Masino and Madison O’Connor of Marcus & Millichap represented the seller, a private investor.
CHICAGO — Marcus & Millichap has brokered the sale of a 6,141-square-foot retail property in Chicago for $1.8 million. The ground-floor retail space is located at 2142-2144 W. Roscoe St in the Roscoe Village neighborhood. Tenants include Pure Motion Chiropractic, Pilates + Coffee, XO Studio salon and Roscoe Books. Sean Sharko, Austin Weisenbeck and Brewster Hague of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured the private investor buyer.
CHICAGO — Hyatt Hotels Corp. (NYSE: H) has agreed to sell a three-property hotel portfolio to Host Hotels & Resorts Inc. (NYSE: HST) for approximately $1 billion. The transaction includes the Andaz Maui at Wailea Resort in Wailea, Hawaii, the Grand Hyatt San Francisco and the Hyatt Regency Coconut Point Resort and Spa in Bonita Springs, Fla. Hyatt will continue to manage the three hotels under long-term management agreements. The transaction is expected to close at the end of March. The 301-room Andaz Maui features a 15-acre beachfront setting, four infinity pools, 15,000 square feet of event space, five dining options, a spa and a fitness center. Featuring 668 rooms, the Grand Hyatt San Francisco includes a 24-hour fitness center, as well as restaurant, lounge and event space on the 36th floor. Located in southwest Florida, the 454-room Hyatt Regency Coconut Point features several pools, waterslides, a golf course, rock climbing wall, five restaurants and over 82,500 square feet of flexible space. The sale reflects a recently announced initiative from Hyatt to reduce real estate ownership, according to Mark Hoplamazian, president and CEO of Hyatt. Andaz Maui and Grand Hyatt San Francisco reflect a combined attributed sale value of approximately …
CHICAGO — Continental Partners has arranged a $7 million bridge loan for the buyer of a 115,000-square-foot Motor Row industrial building in Chicago’s South Loop. The building’s new owner, a private investor, plans to convert the asset into a Class A mixed-use property with retail, entertainment and office space. The former auto showroom, located at 2222 S. Michigan Ave., is currently vacant. The lender was not disclosed.
CHICAGO — Interra Realty has brokered the sale of a 33-unit multifamily building in Chicago for $3.2 million. The property, located at 5001 S. Drexel Blvd., features a mix of one-, two-, three- and four-bedroom units. The buyer, EquityBuild, plans to rehab the property, which was built in 1906. Brad Feldman and Adam Saxon of Interra represented the buyer. Brian DiBasilio, along with Feldman and Saxon, represented the seller, Cedar Street.
CHICAGO — Developer Sterling Bay has received a $64 million bridge loan to refinance construction financing for the Ace Hotel Chicago. Opened in 2017, the 159-room hotel is located at 311 N. Morgan St. in Chicago’s Fulton Market district. The boutique property features a lobby restaurant and bar, outdoor terrace, rooftop bar, private dining area, fitness center and nearly 4,000 square feet of retail space. Timothy Joyce, Tony Malk, Jeff Bucaro and Nicole Aguiar of HFF arranged the five-year loan through LoanCore Capital and Ohana Real Estate Investors.
OAK PARK, ILL. — Magnolia Capital has purchased Vantage Oak Park in Oak Park for an undisclosed price. Built in 2016, the 270-unit apartment building features a mix of studio, one- and two-bedroom units. Brian Eisendrath and Mike Bryant of CBRE arranged a 10-year Freddie Mac loan on behalf of Magnolia Capital for the acquisition. CBRE also brokered the sales transaction.
CHICAGO — RedShelf, a Chicago-based educational software company, has signed a 16,201-square-foot office lease at 500 N. Dearborn St. in Chicago. The firm had previously been subleasing 13,201 square feet on floors 12 and 13 at the same location. The new office space fosters a collaborative work environment for RedShelf. Christine Torres of Colliers International represented RedShelf in the lease transaction. Bob Zimmerman of Friedman Properties represented ownership.
