CHICAGO — Law firm Burke, Warren, MacKay & Serritella PC has renewed its 47,000-square-foot office lease across the 21st and 22nd floors of AMA Plaza in Chicago. The firm plans to renovate its space with an interconnected staircase between the two floors as well as new technology, conferencing space and a café. Joe Learner of Savills negotiated the firm’s initial lease at AMA Plaza more than 25 years ago. Rich Dale and Laura Schueren of Savills will oversee project management of the office renovation, which is slated for completion in 2024. AMA Plaza is the last and largest building in the U.S. designed by renowned architect Mies van der Rohe.
CINCINNATI — Rubenstein Partners LP has unveiled a new sky lounge and outdoor rooftop deck on the 14th floor of 312 Elm Street, a 378,000-square-foot office building in downtown Cincinnati. The space features a tenant lounge area, training room and alternative workspace. It is also available for events. Rising 26 stories, 312 Elm Street offers views of the city skyline. Additional amenities at the property include a recently renovated lobby and a large fitness center. Rubenstein purchased 312 Elm Street and the neighboring 312 Plum Street in 2015 and embarked on a renovation plan for both buildings with a focus on common areas, streetscapes and amenities.
SOUTHFIELD, MICH. — Guardian Alarm has sold its 66,000-square-foot office headquarters in Southfield. The company has signed a new lease for 37,111 square feet at 26711 Northwestern Highway in Southfield. The new office will include a state-of-the-art alarm monitoring command center, updated training facilities and an expanded customer care center. The move also enables Guardian Alarm to consolidate its administrative offices, which are currently located in two separate buildings. The company expects to complete the move by late summer. Dan Verderbar of Friedman Real Estate represented Guardian Alarm in the sale and the new lease.
CHICAGO — Kiser Group has arranged the sale of an 85-unit multifamily portfolio in Chicago’s Beverly neighborhood for $8.5 million. The portfolio includes five buildings that are all situated within a two-block radius. John George and Joe Bianchi of Kiser brokered the deal. The seller, the Rubino Family, had owned the properties for about 25 years. Each property was owned by a different family member, making the escrow process longer and more complicated than usual. An entity doing business as Beverly Holdings LLC was the buyer.
CHICAGO — SVN Chicago Commercial has brokered the sale-leaseback of a 9,500-square-foot building located on North Clark Street in Chicago’s Andersonville neighborhood for an undisclosed price. The property features roughly 6,000 square feet of ground-floor commercial space that is occupied by Reza’s Restaurant. The restaurant plans to downsize its space, enabling future development opportunities for the buyer, a partnership between Chicago-based GW Properties and Howard Natinsky. Reza’s Restaurant will continue to lease back space from the new owner. Wayne Caplan of SVN Chicago Commercial brokered the sale.
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Dollar General Grows Supply Chain Network by 3.2 MSF With Five Distribution Facilities
GOODLETTSVILLE, TENN. — Dollar General Corp. (NYSE: DG) has announced recent expansions in its supply chain network that will grow the discount retailer’s distribution footprint by more than 3.2 million square feet. The Goodlettsville, Tenn.-based company has recently opened three new facilities and announced expansions of two existing campuses that will support Dollar General’s traditional goods, as well as its DG Fresh line of groceries. “The recent additions to our supply chain network aim to provide greater efficiencies, create additional jobs and drive positive economic impact,” says Tony Zuazo, executive vice president of Dollar General’s global supply chain. “We’re excited to continue growing our distribution center network to further support store growth and to better serve our customers and local communities.” Dollar General recently opened an 800,000-square-foot distribution center in Blair, Neb., that is expected to create approximately 400 new jobs at full capacity. The $140 million development is the company’s first ground-up dual facility, meaning it features both traditional distribution space and cold storage. Dollar General plans to host a formal opening ceremony for the facility this summer. The company recently increased distribution center storage capacity by more than 2 million square feet by opening two new permanent regional facilities …
CHICAGO — Chicago-based Cushman & Wakefield has appointed Michelle MacKay to assume the role of CEO effective July 1. MacKay currently serves as president and chief operating officer (COO). John Forrester is retiring from his position as CEO effective June 30, following 35 years of service with the company. Forrester will remain employed as a strategic advisor throughout the rest of this year. Andrew McDonald, currently president, will become global president and chief operating officer. A commercial real estate executive with more than 30 years of experience at a variety of public and privately held companies, MacKay has served on three public company boards, including Cushman & Wakefield’s from 2018 to 2020. She was appointed as Cushman & Wakefield’s COO in 2020 and promoted to president and COO in 2022. Previously, MacKay served as executive vice president, investments and head of capital markets at iStar Inc., a REIT that has since merged with Safehold Inc. Cushman & Wakefield announced MacKay’s appointment the same day it unveiled that John Cushman III had died at the age of 82. A member of Cushman & Wakefield’s founding family, his career spanned 60 years.
COLUMBUS, OHIO — Four retailers are opening new locations at Easton Town Center in Columbus. Sustainable shoe company Allbirds is scheduled to open Thursday, May 11. Activewear retailer Alo Yoga is slated to open in June. FOUNT, a leather bag company, is debuting this spring. Jo Malone London, a British fragrance and lifestyle brand, is slated to join the tenant lineup this fall. Additionally, there are three restaurants that have recently opened at Easton Town Center. They include Ivan Kane’s Forty Deuce, Kona Grill and Weenie Wonder. Developed by The Georgetown Co., L Brands and Steiner + Associates, Easton Town Center is a lifestyle center that is part of the larger mixed-use destination known as Easton.
FRENCH LICK, IND. — Marcus & Millichap has arranged the $7.5 million sale of the Best Western Plus French Lick, a 68-room hotel in French Lick, a city in southern Indiana. Built in 2015 and located at 613 Arnold F Habig Blvd., the three-story property features amenities such as a business center, indoor pool, fitness center and complimentary breakfast. Scott Havericak and Robert Hunter of Marcus & Millichap represented the undisclosed borrower. The duo also procured the buyer, an Indiana-based limited liability company.
CHICAGO — Heartland Alliance has signed a 20,941-square-foot office lease at 55 East Monroe, a 1.3 million-square-foot building in Chicago. The Chicago-based nonprofit, which works to address poverty, will relocate from 208 South LaSalle later this year. The organization is downsizing and upgrading its space by taking a new speculative suite at 55 East Monroe. Heartland’s current building, 208 South LaSalle, is slated to be transformed into residential space. Andrew Davidson and David Burkards of Transwestern Real Estate Services represented the tenant, while Christian Domin of GlenStar represented the undisclosed landlord.