CHICAGO — Ankura Consulting has signed a 9,5000-square-foot office lease at 1 N. Wacker Drive in Chicago. The Washington, D.C.-based consulting firm provides advisory and expert services for corporate turnaround and restructurings, forensic investigations, compliance and regulatory government issues and cybersecurity. Ankura is building out its new office space on the 19th floor of the building while working out of temporary space on the 29th floor. The company is scheduled to occupy its new permanent space this fall. Kyle Kamin and Dan Persa of CBRE represented Ankura in the lease transaction, while Brad Despot of Avison Young represented the building owner, Irvine Cos.
CHICAGO — Free Market Ventures (FMV), in partnership with Second City Real Estate, has acquired a 179,442-square-foot office building in Chicago’s O’Hare submarket. The purchase price was not disclosed. The transit-oriented property is located at 6400 Shafer Court. Built in 1980, the eight-story building was renovated in 1991, 2006 and 2015. The property is currently 88 percent leased to 15 tenants, including Cap Gemini, Seasons Healthcare Management LLC and Haemonetics Corp. FMV plans to perform a series of improvements including a lobby renovation, addition of a fitness center and upgraded common areas. Cushman &Wakefield has been selected as the leasing agent, and Crossroads Partners will handle property management.
CLEVELAND — CRG and The Koman Group have completed The Edge on Euclid, a 262,000-square-foot student housing property located directly across from Cleveland State University in downtown Cleveland. Early move-in began on July 1. The property features 240 residential suites, a fitness center, lounge, café, study areas and a 163-car garage. The 11-story building features a mix of one- to four-bedroom units. The 11th floor features a sky deck. Clayco served as the design-builder and its subsidiary, Forum Studio, served as the architect.
CHICAGO — Chicago Harley-Davidson has signed a 10,000-square-foot retail lease at Addison & Clark, a mixed-use project under development in Chicago’s Lakeview neighborhood. The retail and residential complex is located directly across from Wrigley Field. One of three Chicago-area Harley-Davidson stores owned by Grand Rapids, Mich.-based Fox Motors, Chicago Harley-Davidson will occupy 10,000 square feet of retail space at the development. The showroom will primarily be a retail outlet offering new and used sales, light maintenance services, Harley-Davidson parts and accessories and MotorClothes.
ELGIN, ILL. — Newmark Knight Frank (NKF) has arranged the sale of a 30,864-square-foot industrial property in Elgin, 35 miles northwest of Chicago. The sales price was not disclosed. Situated on a two-acre site, the property is located at 1320 Holmes Road. Designated for light manufacturing and warehouse use, the property features one exterior dock, two drive-in doors, four existing cranes, and 18- to 24-foot clear heights. Adam Marshall and Mark Deady of NKF represented the seller, Reis Robotics USA Inc. The firm relocated to a nearby property earlier this year, which provided more space efficiency and functionality for its operations. Rick Anesi of Lee & Associates represented the buyer, Ultra Polishing Inc. The metal polishing company is based in Schaumburg.
CHAMPLIN, MINN. — Marcus & Millichap has brokered the sale of South Pond Center in Champlin, a northern suburb of Minneapolis, for $2.5 million. The 26,020-square-foot retail property is located at 11350 Aquila Drive North. Tenants include Hudy’s Café, Totally Tan, Trailhead Cycling and Champlin Nails. Sean Doyle, Matthew Hazelton, Adam “AJ” Prins and Cory Villaume of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Claire J. Roberts and Marc C. Paylor of Marcus & Millichap secured and represented the buyer, also a limited liability company.
CHICAGO — Golub & Co., in partnership with Alcion Ventures, has acquired 300 South Wacker, a 536,000-square-foot office property in Chicago. The purchase price was not disclosed. Built in 1971, the 36-story building is located along the Chicago River. The new owners plan to expand on a 2014 renovation of the building with a focus on the lobby, indoor and outdoor common areas and a new tenant amenity lounge. JLL represented the seller, Beacon Partners, in the transaction. Keith Largay of JLL arranged the acquisition financing through Deutsche Bank.
MINNEAPOLIS — Doran Cos. has sold The Bridges and The Knoll, two student housing properties at the University of Minnesota in Minneapolis, for $93 million. Opened in 2013, The Knoll consists of 101 units and is located at 1101 University Ave. Southeast. The Bridges, opened in 2014, consists of 210 units and is located at 930 University Ave. Southeast. TH Real Estate was the buyer. Doran, which built a total of six student housing properties at the university, has now completed the sale of this portfolio through a series of transactions. Doran plans to focus on building multifamily projects in the future.
CHICAGO — Cohen Financial, a division of SunTrust Bank, has secured a $20.7 million loan for the construction of a 138-unit apartment property in Chicago’s Logan Square neighborhood. The $36 million development will also feature 9,300 square feet of retail space. The urban infill project is close to transportation, restaurants and other lifestyle amenities. Michael Hart of Cohen Financial arranged the loan with Old Plank Trail Community Bank, a subsidiary of Chicago-based Wintrust. Savoy Development LLC is the project developer.
WEST LAFAYETTE, IND. — Aries/Conlon Capital has arranged a $7.2 million loan for the refinancing of Four Points by Sheraton in West Lafayette, about 65 miles northwest of Indianapolis. The 171-room hotel is located at 600 Cumberland Ave. near Purdue University. Rushi Shah of Aries/Conlon Capital arranged the CMBS loan, which features a 10-year term and a 25-year amortization schedule. Pandey Hotel Corp. was the borrower.