Midwest

PREMIER Breaks Ground on 219,000 SF Spec Industrial Warehouse in Suburban Chicago

by Kristin Harlow July 17, 2019

BOLINGBROOK, ILL. — PREMIER Design + Build Group has broken ground on a 219,000-square-foot speculative warehouse in the southwest Chicago suburb of Bolingbrook. Known as Fountain Square Building 5, the facility is the final development within Fountain Square Commerce Center. The developer, Bridge Development Partners LLC, acquired the commerce center in November 2018. Fountain Square Building 5 will include 48 docks, two drive-in doors, a clear height of 32 feet and parking for 30 trailers and 178 cars. Completion is slated for March 2020. The project team includes Cornerstone Architects Ltd., SPACECO and Structural Resources Inc.

July 17, 2019

Acquisitions Illinois Industrial Midwest Retail

MK Asset Investment Acquires Two Industrial Properties in Illinois, Sells Shopping Center

by Kristin Harlow July 17, 2019

ILLINOIS — MK Asset Investment has acquired industrial properties in Franklin Park and Waukegan and sold a retail center in Round Lake Beach. The aggregated value of the transactions exceeded $10 million. The Franklin Park industrial property spans 87,500 square feet and is situated on 5.9 acres at 11608 Copenhagen Drive. MK Asset will add new docks, upgrade the lighting and provide a fresh coat of paint. The Waukegan building spans 35,500 square feet and is located at 1850 S. Lakeside Drive within Amhurst Industrial Park. A private investor acquired the 61,685-square-foot Eagle Creek Shopping Center, which is anchored by Big Lots.

July 17, 2019

Illinois Industrial Leasing Activity Midwest

Blanket Manufacturer Signs 96,810 SF Industrial Lease in Green Oaks, Illinois

by Kristin Harlow July 17, 2019

GREEN OAKS, ILL. —Biddeford Blankets has signed a 96,810-square-foot industrial lease at 13820 S. Business Center Drive in Green Oaks in northeastern Illinois. The manufacturer of heated blankets is moving to Green Oaks Business Center from Mundelein, where it had occupied space for 15 years. The new location offers proximity to I-94 and includes 3,305 square feet of office space. Michael Fonda and John Hauser of Avison Young represented the tenant in the lease transaction. The landlord, Colony Capital Inc., was self-represented by Scott Cordes, a vice president at the company.

July 17, 2019

Acquisitions Illinois Midwest Multifamily

Colliers Brokers $3.9M Sale of Two-Building Apartment Portfolio in Chicago’s Hyde Park

by Kristin Harlow July 17, 2019

CHICAGO — Colliers International has brokered the sale of a two-building apartment portfolio that contains 24 units in Chicago’s Hyde Park neighborhood for $3.9 million. The buildings are located at 5427-29 and 5430-32 S. University Ave. Both properties rise three stories and were built in the early 1900s. Tyler Hague of Colliers represented the seller, The Lutheran School of Theology at Chicago. RDG Funds LLC purchased the portfolio.

July 17, 2019

Acquisitions Illinois Midwest Multifamily

Monument Capital Management Acquires 176-Unit Multifamily Property in Woodbridge, Illinois

by Kristin Harlow July 16, 2019

WOODBRIDGE, ILL. — Monument Capital Management, an A-Rod Corp. company, has acquired Townhomes at Highcrest in Woodbridge for an undisclosed price. Monument plans to make approximately $1.5 million in capital improvements, including the installation of new flooring, modern appliances, new landscaping and the addition of a fitness center. Built in 1968, the property includes a pool and laundry facilities. This is Monument’s third property in the Chicago area and is part of Monument Opportunity Fund IV, which was launched earlier this year. Highcrest Apartments LLC was the seller.

July 16, 2019

Illinois Industrial Leasing Activity Midwest

LTD Commodities Renews 694,367 SF Lease at Distribution Facility in Aurora, Illinois

by Kristin Harlow July 16, 2019

AURORA, ILL. — LTD Commodities has signed a 10-year lease renewal at its 694,367-square-foot distribution facility located at 1000 Bilter Road in Aurora. Acquired by e-commerce giant Amerimark Holdings in December 2017, LTD Commodities is a catalog and online merchandiser. Jason West and Chris Cummins of Cushman & Wakefield represented the tenant. Matt Neumann of Cushman & Wakefield represented the landlord, Liberty Property Trust.

July 16, 2019

Acquisitions Indiana Industrial Midwest

Colliers Brokers Sale of 254,460 SF Industrial Building in Indianapolis

by Kristin Harlow July 16, 2019

INDIANAPOLIS — Colliers International has brokered the sale of a 254,460-square-foot industrial building in Indianapolis for an undisclosed price. The property is located at 4310 Stout Field Drive within the Stout Field Industrial Park. The asset is situated within the southwest submarket of Indianapolis, the most active industrial submarket in the city, according to Colliers. The property offers convenient access to I-70 and the Indianapolis International Airport. The site also includes approximately three acres of excess land for future development. Progressive Logistics, Dugdale Foods, Gilmore Supply and GS Transportation fully occupy the property. Alex Davenport, Alex Cantu and Mike Lubbers of Colliers brokered the transaction on behalf of the seller, SAW Capital. The O’Donnell Group Inc., a southern California-based developer, purchased the building.

July 16, 2019

Acquisitions Midwest Missouri Office

Block & Co. Arranges Sale of 27,350 SF Office Building in Kansas City

by Kristin Harlow July 16, 2019

KANSAS CITY, MO. — Block & Co. Inc. Realtors has arranged the sale of the 8301 State Line Professional Building in Kansas City for an undisclosed price. The three-story office building spans approximately 27,350 square feet and is situated just north of Ward Park Center. Notable tenants at the fully occupied property include the Third and Long Foundation, Psychology of Kansas City and Hospice Care of America. Piers Pener of Block & Co. represented the undisclosed buyer. The seller was also undisclosed.

July 16, 2019

Indiana Midwest

O’Brien Commercial, Cresa Indianapolis Office Complete Merger

by Kristin Harlow July 16, 2019

INDIANAPOLIS — O’Brien Commercial Real Estate LLC and the Indianapolis office of Cresa have merged effective Monday, July 1. The merged firms now operate under the Cresa name. All employees of both companies have been retained. Cresa, which established its Indianapolis office in 1998, operates under the direction of Jim Teskey, David Black and Leslie Teskey. Tim O’Brien, president and owner of O’Brien Commercial, now serves as a principal with Cresa. Both companies focus exclusively on tenant representation.

July 16, 2019

Illinois Leasing Activity Midwest Office

Glassdoor Signs Two-Floor Office Lease in Chicago

by Kristin Harlow July 15, 2019

CHICAGO — Glassdoor has unveiled plans to further expand its presence in Chicago. The technology company, which operates a recruiting and job review website, has signed a long-term lease for two floors of a new office building, West End on Fulton. Glassdoor will maintain its existing space and operations at 1330 West Fulton. The new space will support up to 400 employees and the company plans to create up to 500 new jobs in Chicago over the next several years. Glassdoor expects to move into its new 52,000-square-foot space in summer 2020. Kyle Kamin and Dan Persa of CBRE represented Glassdoor in the lease transaction. Sara Spicklemire and Kelsey Scheive of CBRE represented the developer, Trammell Crow Co.

July 15, 2019

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