Founders Firm Starts Out with $10M-$50M Deals

Deckas is the former president of Opus Properties LLC, a company has managed eight investment funds with about $2.6 billion worth of properties since 1997, with investment participation from Schulze and 25 other families. The properties owned included many of those developed by the Opus Group. The LLC sold six of the funds right before the crash, Deckas tells GlobeSt.com, and still manages the remaining two funds with more than 100 properties in major US markets.

However, Deckas says he and his 15 staff members are now working for Founders, though the two funds will continue under Opus Properties. All new properties acquired will be through Founders, he says.

The company is already looking at a dozen deals, and expects to put the first deal under contract in about 30 days, Deckas tells GlobeSt.com. "That property is about $15 million. The deals we're looking at range from $10 million to $50 million," he says. The company is interested in spending several hundred million dollars on office and industrial, and possibly some multifamily, and plans to include distressed properties as half of its portfolio, Deckas says.

PLEASANT PRAIRIE, WI-Emco Chemical Distributors has purchased a 259,580-square-foot warehouse building from Hexion Specialty Chemicals Inc. The sale price was undisclosed, though the asking price was $11.3 million. The building is in the LakeView Corporate Park, on 29 acres, and is rail-served by Canadian Pacific Railway. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham with CB Richard Ellis were the brokers in the transaction.

TROY, MI-Administrative firm BeneSys Inc. has leased 29,937 square feet at the office building at 700 Tower Dr. here. Steve Morris, executive managing director and principal with Newmark Knight Frank, represented the tenant in the transaction.

BLOOMFIELD HILLS, MI-Woodhills Properties LLC has purchased the 29,307-square-foot Republic Bank Building at 40700 Woodward Ave. The buyer will occupy the building. Todd Hawley and Barry Swatsenbarg with Friedman Real Estate Group represented the buyer and the seller, LBUBS 2005-C2 Bloomfield Hills LLC. The sale price was not disclosed.

ELMHURST, IL-Two local real estate executives have joined forces to create a new brokerage, investment and advisory services firm. Former State Rep. Lee Daniels, with Lee Daniels and Associates, and Joyce Slone, with Slone Commercial LLC, have formed Daniels Slone LLC, based here. Slone says she brings a few properties to the table, and Daniels says the company is working on a deal for a 500-unit, multifamily/retail property in Chicago. He says he's not able to go into specific details about the property.

OAK BROOK, IL-An out-of-state private investor has purchased the 55,993-square-foot Midwest Plaza South office building here for $6.6 million. The seller was also undisclosed. The multitenant property is 95% occupied. Howard Wiese and Rasto Gallo with Marcus & Millichap represented the owner in the transaction.

BOLINGBROOK, IL-OHL LLC has leased 183,500-square-foot in a distribution facility at 1150 115th St. The 453,090-square-foot building, also known as Bolingbrook Corporate Center West, is owned by Atlanta-based Industrial Developments International.OHL , a third-party logistics company based in Nashville, will move into the new space in April. J.D. Salazar with Champion Realty Advisors represented OHL in the transaction, and Jeff Smith, Ben Cremer and Mike Robbins with NAI Hiffman represented ownership.ELK GROVE VILLAGE, IL-Arrow Plastics is leasing 32,180 square feet of industrial at 2601 Allen Dr. The company designs, manufactures and distributes various consumer products. Elise Couston with Paine/Wetzel-Oncor International represented the tenant and Pat McCourt with CB Richard Ellis represented the landlord, Chancellory Business Park LL.

LIBERTYVILLE, IL-Noise Barriers is relocating from Schaumburg, IL to a 46,612-square-foot lease at 2001 W. Kelley Ct. The building, constructed in 2001 and known as Northwind Business Center, features a warehouse management system. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham with CB Richard Ellis represented ownership, Barnett Capital.

NORTHBROOK, IL-Nordstrom Rack recently renewed a lease for 34,520 square feet at Village Square of Northbrook. The retailer joined the center in 1996, and is one of five of the stores in Illinois. Ritz Camera Centers also renewed at the center, and Le Nail Spa signed a new lease for 1,420 square feet. Liz Krebs with Mid-America Asset Management Inc. represented the landlord in the transactions, while Jeff Kuchman represented Nordstrom. The property is anchored by Marshalls, Cost Plus World Market and Loehmann's.

VERNON HILLS, IL-Coffee roasting company Probat Inc. has signed a 10-year lease for a 47,800-square-foot warehouse at 601 Corporate Woods Parkway. The property, expandable by another 20,000 square feet, is in the Corporate Woods Business Park. CB Richard Ellis represented the ownership in the lease, and John Gazzola with Entre Commercial negotiated on behalf of the tenant.

TOLEDO, OH-Toledo Gaming Ventures Inc. has purchased 44 acres of land here at 1968 Miami St. from River Road Redevelopment LLC. The property will be the site of one of the four new casinos being built in Ohio. Robert Mack and Megan Maiczewski with Signature Associates represented the seller. The price was undisclosed.