BROOKFIELD, ILL. — Commercial real estate services firm Jones Lang LaSalle plans to open a new corporate office in suburban Brookfield. Dan Jessup, a longtime Milwaukee-area commercial real estate executive, has been tapped to lead the new office and will be joined by fellow broker Michael Streit. Jessup and Streit are joining the firm from APEX Commercial Realty and will specialize in representing office and industrial real estate tenants and owners, as well as local corporations. Among the team's first assignments is overseeing leasing for four office buildings totaling 350,000 square feet in Waukesha and Brookfield owned by a private Midwest-based real estate investment company.
DEARBORN, MICH. — Severstal Dearborn, a Michigan-based steel maker, has renewed its lease for 62,203 square feet of industrial space in Dearborn. The facility is located at 14661 Rotunda Drive. John Boyd and Grant Bruce of Signature Associates represented the tenant in the transaction.
Activity is picking up in the Indianapolis retail market, buoyed by a strengthening economy that has intensified retail expansion. Positive job growth, escalating new home construction and rising retail sales are attracting new stores and have instigated other retailers to consider additional locations in selective pockets around the metro area. The northern submarkets within Hamilton County are particularly active, especially around Exit 10 of I-69 in Noblesville, where new housing construction has fostered retail growth. In Carmel, the renovation and re-tenanting of The Centre and The Corner are moving forward. The 82nd Street corridor is also lively as the nearly completed expansion of The Fashion Mall has attracted new retailers to the state such as West Elm and Free People. Nearby, last year’s repositioning of Rivers Edge is initiating smaller new developments with Dairy Queen, Wendy’s and Famous Dave’s among the recent openings. The 127,000-square foot project will include an Earth Fare grocery, Walgreens and Panera Bread. Large spaces are being filled across the metro area. Jo-Ann Fabrics is taking 28,000 square feet along Highway 36 and Brickhouse Fitness has penned a lease for 15,000 square feet along Lafayette Road. Although retail construction is at near historic lows, smaller buildings …
CHICAGO — Chicago-based ShopperTrak is moving its corporate headquarters to Willis Tower with a new lease of 52,450 square feet. ShopperTrak anonymously counts people, analyzes data and identifies opportunities to increase revenue for retailers, mall developers and entertainment venues. Derek Rolison and Miek Kazmierczak of U.S. Equities Asset Management represented Willis Tower in the transaction. Bill Sheehy and Dan McCarthy of Jones Lang LaSalle represented the tenant. Willis Tower has completed more than one million square feet of leasing activity in 2012, including the addition of United Airlines' corporate headquarters.
JOLIET, ILL. — Marcus & Millichap has arranged the $1.7 million sale of Glenwood Apartments & Townhomes, a 30-unit property in Joliet. The property consists of five six-unit buildings adjacent to Provena St. Joseph Medical Center. James Clough of Marcus & Millichap represented the seller, a local apartment owner, in the transaction.
WOODRIDGE, ILL. — Allstate Insurance Co. has renewed its lease for 94,233 square feet at 9022 Heritage Parkway, a Class A office building in Woodridge. Dan O'Neill and Jud Henry of NAI Hiffman represented the landlord, Oak Realty Group, in the transaction. Tom Hollinden and Mike Cummings of Colliers International represented AllState.
NEW YORK CITY — New York City-based Garrison Investment Group has purchased a 13-property portfolio of neighborhood and community shopping centers totaling 1.7 million square feet in Ohio and Indiana. The seller is Kimco Realty Corp. The properties feature prominent retailers such as T.J. Maxx, Giant Eagle, Kroger and Home Depot. Cincinnati-based Select Strategies will manage and lease the properties. The portfolio is 90 percent leased.
CHICAGO — Sovran Acquisition has acquired Safe & Secure Storage, a 63,910-square-foot self-storage facility in Chicago. The property is located at 20765 W. Grass Lake Road and will be rebranded as Uncle Bob's Self Storage. The property contains 433 units, 110 of which are climate controlled, and 27 parking spaces. Sean Delaney of Marcus & Millichap represented the seller, a private investor, in the transaction. Angelo Tomasello, Tony Rider, Peter Weimer and Jonathan Attea of The Locke Group represented the buyer.
OCONOMOWOC, WIS. — Wangard Partners has started construction on the second phase of The Preserve at Prairie Creek, an apartment community in Oconomowoc. The first phase, completed earlier this year, consists of 102 apartments. Phase II will add 126 apartments in seven new buildings. The buildings will feature luxury kitchens, walk-in closets and include access to the community clubhouse. The community borders a nature preserve, which is home to deer, cranes and other wildlife. The community also features a recreational trail.
CRYSTAL LAKE AND NORTHBROOK, ILL. — Title Boxing Club is expanding its presence in Chicagoland after signing a lease for 7,832 square feet of retail space in Randall Plaza, located at 435 Angela Lane in Crystal Lake. Ben Andrews and Andrew Gomez of Sperry Van Ness represented the tenant in the transaction. Additionally, the company inked a lease for 6,836 square feet at Brookside Plaza in Northbrook. Title Boxing Club has locations currently operating in Buffalo Grove, Schaumburg and Naperville, as well as multiple states nationwide.