CHICAGO-First Industrial Realty Trust has sold $223 million in land and buildings this year while buying $191.3 million, a trend it expects to reverse with $180 million in development deals and purchases under contract.

CHICAGO-Already quarterbacking the Nomura Japan-US REIT Fund, Heitman LLC is tapped to oversee the US portion of the Nomura Japan-US REIT Fund. The initial allocation is 70% in US REITs, with BRE Properties Inc. and Vornado Realty Trust among the largest holdings.

SCHAUMBURG, IL-Bed Bath & Beyond and Golfsmith occupy the entire 100,773-sf two-tenant retail building just west of Woodfield Mall, which American Real Estate Holdings sells to Inland Real Estate Acquisitions, Inc. for $12.1 million.

LINCOLNWOOD, IL-Rather than industrial use, CenterPoint Properties Trust's 247,000-sf building on 13 acres at 3400 W. Pratt Ave., just south of Lincolnwood Town Center, is likely to be converted to multifamily or retail use, a trend seen frequently in surrounding North Shore suburbs.

CHICAGO-With more than 1.3 million sf of new industrial space being delivered this year, vacancy across the 1-billion-sf market has nudged up to 9.4%, according to a second-quarter report by CB Richard Ellis.

CHICAGO-The largest US multifamily REIT finds David J. Neithercut's replacement as chief financial officer at Cardinal Health, where Donna Brandin is senior vice president and treasurer.

CHICAGO-A 23-story building will include 21 units taking up 2,800 sf on entire floors. The new building will be known as 540 W. Stratford Pl., although it will replace a three-story 15-unit multifamily rental building at 541 W. Cornelia St.

ELK GROVE VILLAGE, IL-The company is consolidating distribution operations in nearby Schiller Park as well as Chicago into Hamilton Partners' building at 1099 Pratt Ave. in the Elk Grove Village Industrial Park.