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Though it’s not too surprising that the largest industrial and office developments in Illinois that opened this year earned industry awards Oct. 19, local experts say the projects are a sign that the economy is on an upswing.

Twelve companies were selected, through live voting, at the National Association of Industrial and Office Properties’ 19th Annual Awards for Excellence event held at the Hyatt downtown. The organization had received 61 submissions this year.

“The number of nominations we received indicates there is still significant development in Chicago both industrial and office even though our economy and real estate market are just starting to get better,” Jack Durburg, senior managing director with CB Richard Ellis Inc. and NAIOP Chicago President, told GlobeSt.com.

Hines developed One South Dearborn, a 40-story, 830,000 sf office building that opened Jan. 1. The building was honored with the Downtown Office Development of the Year award by NAIOP. Anchored by the law firm Sidley Austin LLP and home to the US headquarters for Barton Brands and Mittal Steel, One South was constructed in just 24 months and was sold for a record price of more than $420 sf.

The CenterPoint Properties-developed, two-building development for Wal-Mart Inc. earned the title of NAIOP’s Industrial Development of the Year. CenterPoint and FCL Builders Inc. completed Chicagoland’s largest build-to-suit development for Wal-Mart Stores Inc.’s two-building bulk storage facility, which sits on a 172-acre site at the CenterPoint Intermodal Center/BNSF Logistics Park Chicago in Elwood. The buildings, encompassing more than 3.36 million sf, was finished in eight months.

The rest of the NAIOP award winners are:Suburban Office Build-to-Suit of the Year: HSBC North American Headquarters at 26525 North Riverwoods, Mettawa. The developer was Hamilton Partners Inc.Industrial Redevelopment of the Year: UPS at Busse Corporate Center, Bensenville. The developer was ProLogis.

Office Redevelopment of the Year: OfficeMax at 263 Shuman Boulevard, Naperville. The developer was GlenStar Properties LLC.

Industrial Transaction of the Year: Andrew Corp. at Cherry Hill, Joliet. The brokers involved were David Prioletti with CB Richard Ellis Inc. and Michael Burns, Leonard Calderia, Trevor Ragsdale and Dan Stanciu with The Staubach Co.Downtown Office Transaction of the Year: Kirkland & Ellis LLP at 300 North LaSalle Street, Chicago. The brokers involved were John McDermott and Greg Van Schaack with Hines and Jock Howland, Fred Schuler and Steve Stratton with the Staubach Co.

Suburban Office Transaction of the Year: OfficeMax at 263 Shuman Boulevard, Naperville. The brokers were Michael Klein and Dave Trumpy with GlenStar Properties LLC and Kris Bjorson, David Matthews, John Musgjerd and Fred Schuler with The Staubach Co.

Downtown Office Investment Transaction of the Year: Boeing Headquarters at 100 North Riverside Plaza, Chicago. The brokers were Anthony Smaniotto and Michael Vesper with CB Richard Ellis Inc.

Suburban Office Investment Transaction of the Year: Central Park of Lisle at 4225 Naperville Road and 3333 Warrenville Road, Lisle. The brokers were Mike Caprile, Mark Hellwig, Jeff Mann, Bill Novelli and Stephanie Park with CB Richard Ellis Inc.

Industrial Investment Transaction of the Year: The John B. Sanfilippo Portfolio, Elk Grove Village. The brokers were Dominic Carbonari, Brian Carroll and Frank Griffin with Grubb & Ellis Co. and John Cash with NAI Hiffman.

General Contractor of the Year: FCL Builders Inc.

Proceeds from the Oct. 19 dinner will be donated to Children’s Memorial Hospital.

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