LEMONT, ILL. — Transwestern has negotiated a 47-acre ground lease for Chicago Truck Parking in Lemont, a suburb of Chicago. The multi-million deal is one of the largest parking leases ever in metro Chicago. The operator of parking lots for tractor-trailers and other commercial vehicles will occupy the space at 12300 New Ave. Located in the I-55 industrial corridor, the new parking lot will allow Chicago Truck Parking to consolidate multiple yards into a single location. The company will continue to operate its truck parking at Veterans Parkway and I-55 in Bolingbrook, Ill., but will consolidate its Archer Avenue and Route 83 location in Lemont at the new location. Terri Alexander of Transwestern represented the tenant in the eight-year lease. Tim McCahill and Brian Vanosky of Lee & Associates represented the landlord, Realterm Logistics.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the lease of 12,040 square feet of industrial and office space for Naturescape Inc. in Milwaukee. The lawn and landscape care company will occupy the building at 5757 N. Lovers Lane Road. Samuel M. Dickman Jr., Samuel D. Dickman and Cale Berg of the Dickman Co. represented the landlord, Marva’s Realty LLC. Lori Hake of Judson & Associates represented the tenant.
BLOOMFIELD HILLS, MICH. — Colliers International has brokered the lease of a 10,197-square-foot industrial facility for Team Rehab in Bloomfield Hills, a northern suburb of Detroit. The physical and occupational therapy company will be occupying the former St. Joseph Mercy Hospice center located at 281 Enterprise Drive. The company is expected to move into the facility by February 2017, and will use the space as a training and rehab facility for outpatient and sports physical therapy. Peter E. Kepic and Peter J. Kepic of Colliers International represented the landlord in the lease.
CHICAGO — Jameson Commercial and Jameson Sotheby’s International Realty have arranged the sale of a 5,800-square-foot, mixed-use building in Chicago for $1.4 million. The Lax Shop, a lacrosse specialty retailer, is relocating from the building at 1216 W. Belmont Ave. to outside Chicago. Katie Whelan and Karoline Whittaker of Jameson represented The Lax Shop. Tim Sheahan and Brendan O’Malley of Conlon Real Estate represented the buyer, Jenny Builders.
Downtown Indianapolis is already feeling the impact of Salesforce.com Inc.’s recent decision to lease more than 220,000 square feet for a new regional headquarters in the state’s tallest office building, located at 111 Monument Circle. The firm’s $40 million investment over 10 years includes expansion plans for its regional headquarters as well as changing the name of the 48-story office tower from Chase Tower to Salesforce Tower Indianapolis. This will be one of only four towers in the world that bear the Salesforce name — the others are located in New York, London and San Francisco. Salesforce.com, a publicly traded company (NYSE: CRM), is a business software provider best known for applications that help salespeople track customer contacts and marketers plan campaigns, according to The Wall Street Journal. The San Francisco-based tech company currently has 1,400 employees in Indianapolis and plans to hire 800 new employees over the next five years. The company is expected to move into the tower in early 2017. The firm currently leases space in three other buildings downtown. This speaks volumes about Indianapolis’ efforts to become the Midwest hub for technology. While Salesforce is one of Indianapolis’ largest technology employers, nearly 100 tech companies are …
CHICAGO — Barings Real Estate Advisers has provided a $250 million loan to Waterton for the refinancing of Presidential Towers in Chicago’s West Loop. The four-tower apartment community totals 2,346 units and is located at 555 W. Madison Street. Solomon Cordwell Buenz designed the four identical, 50-story towers. In addition to the 1.6 million square feet of residential space, the property also includes 135,193 square feet of retail space. HFF arranged the 10-year, fixed-rate loan, with Stephen Skok representing the borrower. Barings Real Estate Advisers, a subsidiary of Barings, is a real estate-focused investment adviser with $50 billion in assets under management. Waterton is a real estate investor and operator focused on U.S. multifamily and hospitality properties with over $5.3 billion in assets.
DELAWARE, OHIO — Marcus & Millichap has arranged the sale of Troy Farms in Delaware, a suburb of Columbus, for $27 million. The apartment property was built in two phases between 2003 and 2006 and offers a mix of one- and two-bedroom garden and townhome units. Michael Barron, Daniel Burkons, Joshua Wintermute, Richard Lattro and Jordan Marshall of Marcus & Millichap marketed the property on behalf of the seller, The Champion Cos. The team also procured the buyer, Connecticut-based Hamilton Point Investments.
WEST CHICAGO, ILL. — Midwest Industrial Funds has acquired a 158,000-square-foot industrial building located at 825-845 Hawthorne in West Chicago. The property features 22-foot clear heights and 12 loading docks. The property was 50 percent leased to three tenants at the time of closing. Midwest Industrial Funds has started major renovation work on the property including installation of a new architectural metal panel façade with an LED exterior lighting scheme, new windows, resurfacing the parking lot and landscaping enhancements. Michael J. Androwich Jr. of Lee & Associates represented the seller in the transaction and will be handling leasing on the available spaces for Midwest Industrial.
CHICAGO — Colliers International has brokered the lease of 18,132 square feet of office space for Aeris in Chicago. The Santa Clara, Calif.-based technology company has expanded to the Chicago location at 435 N. LaSalle St. The 50,000-square-foot building was originally constructed in 1906. Elmdale Partners has completed renovation of the building. Corby Marx and Evan Djikas of Colliers International represented Aeris in the transaction. Andrea Saewitz and Benjamin Cleveland of Cushman & Wakefield represented property ownership.
ITASCA, ILL. — Bradford Allen Realty Services has negotiated a lease expansion and extension for Ajinomoto in Itasca, approximately 27 miles northwest of Chicago. The Japanese food and chemical corporation will be leasing an additional 7,159 square feet at 1300 N. Arlington Heights Road, where the company currently occupies 13,476 square feet. The 108,000-square-foot, Class A building is part of the Hamilton Lakes Office Park. Ajinomoto will take occupancy of the additional space in February 2017. Craig Nadborne of Bradford Allen completed the lease transaction.