CHICAGO-Duke Realty Corp., based in Indianapolis, leased out more than 405,000 square feet of industrial in the Chicago suburbs. The leases by WinCup, Niven and Birger Christensen brought all the properties to 100% occupied.
WinCup, a maker of cups, bowls and lids, renewed its 150,000-square-foot lease at 1250 Carolina Dr. in West Chicago. Marat Safir with Taurus Realty represented WinCup in the transaction while Susan Bergdoll, VP of leasing, represented Duke.
Niven, a merchandising firm, increased its leased space at 815 Kimberly in Carol Stream IV Park by 62,760 to 218,464 square feet. David Bercu with Colliers International represented Niven, while John Cassidy and Ken Franzese with Lee & Associates assisted Ryan O’Leary with Duke.
Finally, Scandinavian clothing retailer Birger renewed 36,625 square feet at 4160 Madison St. in Hillside. Bergdoll also represented her firm in this deal.
CHICAGO-Summit Design + Build LLC is underway on construction on City Winery Chicago, a fully operational urban winery and tasting room, restaurant with outdoor wine garden, concert hall and private event space at 1200 W. Randolph St. in the West Loop. The building is a former refrigerated food distribution warehouse built in the early part of the 20th century, is being renovated into a 33,000-square-foot contemporary winery and hospitality facility. Opening is scheduled for August.
EVANSTON, IL-One Rotary Center, the world headquarters of Rotary International, has been awarded LEED Gold for Existing Buildings Certification by the US Green Building Council. The 368,767-square-foot building is owned and managed by the group, and leased by Cushman & Wakefield of Illinois Inc.
CHICAGO-J.C. Anderson Inc. is pleased to announce that the firm has completed a 12,000-square-foot interior build-out for the expansion of law firm Jackson Lewis within 150 N. Michigan Ave., also known as the Smurfit-Stone building. The expansion included the addition of private offices, open work areas, a kitchen, an IDF room and a conference room.
BOLINGBROOK, IL-Podolsky Northstar CORFAC International represented Jefferson-Pilot Investments in the sale of a 19,920-square-foot industrial building at 554 Territorial Dr. here. The property is one of five buildings Jefferson-Pilot acquired through foreclosure in 2010, and the fourth to be sold with Podolsky Northstar’s representation. The investment marketing team of Randy Podolsky, managing principal and Adam Tarantur, SVP, handled the assignment. Podolsky Northstar had served as court-appointed receiver and property manager, then as the exclusive listing agent, before arranging the sale of the property for Jefferson-Pilot Investments, a subsidiary of the Lincoln Financial Group. The current tenant, Tyco Flow & Valve, will vacate the property at the end of March 2012. Podolsky also represented the purchaser, Universal Laminating & Converting, as dual agents in the transaction. Dan Minor of Voyrs, Sater, Seymour & Pease provided legal services to the seller.
CHICAGO-Essex Realty Group Inc. arranged the sale of 6161 N. Kenmore, an eight-unit apartment building in the Edgewater neighborhood. Doug Imber and Doug Fisher were the brokers in the transaction. The price was approximately $1.5 million.
DETROIT-Signature Associates has negotiated the sale of five apartment buildings here to Manchester Court LLC. The apartments totaled 332 units. Joe Banyai with Signature Associates represented the seller, Charter One Bank.
MONROE, MI-Mid-America Real Estate-Michigan Inc. arranged a 29,505-square-foot lease in Monroe Shopping Center at 2155 N. Telegraph Rd. here. Susan Acciaioli, Tony Schmitt and Jack Uhazie represented the tenant, Ollie’s Bargain Outlet, in this transaction. This will be Ollie’s first Michigan location.
LENEXA, KS-The CBRE Minneapolis Capital Markets Debt & Equity Finance group arranged a permanent loan for the Meritex Lenexa Executive Park, a 2.2-million-square-foot, sub-surface industrial park here. Murray Kornberg and Doug Seylar, SVPs, arranged the seven-year, fixed-rate debt on behalf of Meritex Enterprises Inc. through Cornerstone Real Estate Advisers LLC, an indirect subsidiary of Massachusetts Mutual Life Insurance Co. The site area of Meritex Lenexa Executive Park was mined between 1965 and 1988, and Meritex began developing the facility in 1998. The park is leased to 30 tenants, including a significant portion of the property that is leased to the GSA on a long-term basis. The space is leased for office, light industrial and warehouse uses. In addition to funding a capital reserve, the new financing also features a future funding provision to pay for the costs associated with expanding the property, as the mined site currently has approximately 800,000 square feet of undeveloped space.
PIQUA, OH-Westcon Industries is expanding its operations to the Sherry Industrial Park here to meet increased demand in the oil and gas industry. The company recently acquired a 35,000-square-foot manufacturing plant in Piqua to meet additional requirements for their welding services. Currently Westcon supplies 95% of the piping for the fracking plants in North Dakota and they are bidding on projects in the Utica Shale areas of Ohio. In addition to the fracking industry, Westcon also services the food and pharmaceutical business with piping. Tim Echemann with Industrial Property Brokers represented both parties in the transaction.
BLUE SPRINGS, MO-The Shoppes at Coronado Place I, a 14,534-square-foot Wal-Mart shadow anchored retail center here, has been sold for $3.8 million. The 100% leased property features AT&T, Panera, Sports Clips and Vintage Stock and is in the Adams Dairy Parkway retail corridor featuring a new 600,000-square-foot retail center anchored by Target. The seller, Coronado Partners I LLC, was represented by Keoni Fursse with Kokua Realty Co. LLC.
FRANKLIN, IN-STAG Industrial Inc. recently spent $17.8 million for a 703,496-square-foot, warehouse and distribution facility here. The building is 100% leased to Anderson Merchandisers LP, under a lease with approximately five years of remaining term. Anderson distributes and markets music, DVDs, movies, books, magazines, consumer brands, and promotional products in the United States.
KENOSHA, WI-The Boulder Group has completed the sale of a single tenant McDonald’s ground lease located at 3711 57th Ave. here for $1 million. McDonald’s is the sole occupant of the 4,467 square foot retail building that was developed in 2011. The property features a newly developed property with a twenty year lease (with rental escalations) in a prime location between Milwaukee and Chicago. Randy Blankstein and Jimmy Goodman represented both parties in the transaction; the seller, a Chicago based development firm and the buyer, a private investor based in the Midwest.