NEWS & NOTABLES

CHICAGO—Alex Rothman, a board member of SMS Assist, an end-to-end solution for property management, has departed from his role as SMS Assist's chief product officer and will launch Theron Technology Solutions, LLC. He will remain an SMS Assist board member and stakeholder. At Theron, Rothman will serve as chief executive officer, employing his nearly decade-long experience at SMS Assist, for which he earned the 2017 Digital Edge 50 Award. He helped grow SMS Assist into a leading cloud-based property management platform, contributing to its recognition the past two years as one of Forbes World's Best 100 Cloud Companies, ranked No. 33 this year, and a Deloitte Technology Fast 500 winner for three consecutive years. Theron expects to begin supporting clients from its Chicago headquarters in early 2018.

DEALTRACKER

INDIANAPOLIS—HSA Commercial Real Estate has just closed on its acquisition of a 19-acre land site near the Indianapolis International Airport in Plainfield, IN. The Chicago-based firm plans to develop a 262,758-square-foot warehouse facility offering 32' clear heights, 30 truck docks, and four drive-in doors on the newly acquired parcel at the southeast corner of Stafford Rd. and Airtech Pkwy. Construction will start in early 2018, with tenant occupancy planned for fall 2018. HSA has been one of the most active industrial developers in the Indianapolis market. The firm has already developed five buildings totaling approximately 630,000 square feet at its 40-acre Gateway Business Park nearby, including the 151,200-square-foot Gateway Industrial IV building that was completed in July and is now fully leased. John Hanley and Terry Busch of CBRE are handling leasing for the new distribution center development.

CHICAGO—Holliday Fenoglio Fowler, LP recently helped complete the $78.3 million sale of One Pierce Place and 500 Park Boulevard, a two-building suburban office campus totaling 976,000 square feet in the suburban Chicago community of Itasca, IL. The HFF team marketed the property on behalf of the seller, a partnership between Long Wharf Capital LLC and Hamilton Partners, and procured the buyer, a partnership between Balfour Pacific Real Estate Fund IV, a private equity real estate fund of Balfour Pacific Capital Inc., and Hamilton Partners. The buildings are located within the Hamilton Lakes Business Park at the intersection of I-290 and Thorndale Ave. immediately north of its junction with I-355 in Chicago's Northwest Suburban submarket. One Pierce Place was renovated in 2012 and is 91% leased with notable tenants Houghton Mifflin Harcourt and Epsilon. Renovated in 2015, the 94% leased 500 Park Boulevard boasts Keyence Corp., The Boler Company and Hitachi, among its notable tenants. The HFF investment advisory team included directors Bryan Rosenberg and Patrick Shields and senior managing directors Mark Katz, Jeff Bramson and Jaime Fink.

CHICAGO—CBRE's Matt Mulvihill, Kevin Segerson, Cal Payne and Philip DeBoer recently represented three separate tenants in the Chicago area in leases totaling 1,318,000 square feet. In the first transaction, the team represented Brake Parts Inc. in an eight-year extension of 378,350 square feet at 1100 Corporate Dr. and 228,000 square feet at 4400 Prime in McHenry, IL. The global company manufactures and supplies brake parts for the aftermarket automotive industry. Greencore, a London-based international producer of convenience foods, signed a five-year extension of 443,010 square feet at 1100 Remington Blvd. in Bolingbrook, IL. In the final transaction, St. George Logistics signed a five-year renewal for 268,645 square feet at 875 Devon Ave. in Elk Grove Village, IL. The company provides ocean and air CFS, distribution, transportation and value-added services in North America.

ELK GROVE VILLAGE, IL—Brown Commercial Group, based in Elk Grove Village, IL, recently completed four industrial transactions totaling nearly 72,000 square feet in Chicago's suburban market. They include: Trinity Scurto, Brown's senior vice president represented both the private investor seller and the buyer, Bire LLC, in the purchase of a 12-unit, 26,401-square foot building at 500 N. Mannheim Rd. in Hillside, IL; Dan Brown, president, of Brown Commercial Group, and senior associate Mason Hezner represented ID Properties, LLC in its sale of a 18,670-square-foot industrial building at 165 N. Lively Blvd. in Elk Grove Village, IL. The buyer was Haas Factory Outlet; Mike Antonelli, Brown's vice president of sales, represented the owner, a private investor, in a 14,800-square-foot lease at 288 Carlton Dr., Carol Stream, IL, to Crafty, LLC. Antonelli represented the same owner in a long-term lease renewal for 12,000 square feet at 300 Carlton Dr., a neighboring space, for First American Title Insurance Company, LLC.

AURORA, IL—NAI Hiffman recently completed a 247,360-square-foot office and warehouse lease at 2176 Diehl Rd. in Aurora, IL. The firm's industrial services team of executive vice presidents, John Whitehead and Jeff Fischer, represented the landlord, DCT Industrial Trust, in the transaction. Podolsky|Circle CORFAC International's Steven Tick, and Steven Podolsky, represented the tenant, a large, international third-party logistics provider. Situated on 18.9 acres along I-88 and Eola Rd., 2176 Diehl Road totals 363,375 square feet and features 32' clear height, 204 parking spaces, 59 secured trailer stalls, ESFR sprinklers, 1 drive-in door and 34 exterior docks with levelators.

Instant Insights /

Middle Market Digest-The Midwest

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