Midwest
JV Acquires $133M IN Office Park
Strategic Capital Partners and Rubenstein Partners purchased the 19-building Precedent Office Park, which comprises 1.1 million square feet across single-, two- and multi-story properties.
T5 Adds Second Tenant to Chicago Facility
Two tenants have already occupied a major portion of the upcoming data hall expansion. The Chicago metro features low data center vacancy rates, while more enterprises seek to migrate IT operations to specialized, purpose-built facilities.
Equity Office Offloads Suburban Chicago Asset for $47M
The recently renovated five-story office building features 275,000 square feet of space and serves as the corporate headquarters for Essendant.
Avison Young Chicago Hires 2 New Principals
Chris Lydon and Chris Tecu will work as a team focusing on industrial brokerage services and will be based in the firm’s office in Rosemont, Ill.
Construction Manager Selected for Obama Center
Lakeside Alliance is a joint venture consisting of Turner Construction Co., Powers & Sons Construction, UJAMAA Construction, Brown & Momen and Safeway Construction.
CBRE Facilitates Sale of Dayton Manufacturing Building
Wernli Realty Corp. sold the property for $525,000 to commercial plumbing company Frye Mechanical. The asset includes 15,000 square feet of production space and 5,000 square feet of office space.
Southern Land Taps New President
Marty Posthauer will lead the firm’s commercial construction activities, bringing with him more than 30 years of experience in both commercial and residential development.
Upgraded IL Country Inn & Suites Opens Doors
The 119-key hotel is located in Hoffman Estates, near Chicago O’Hare International Airport and Sears Centre Arena. Its guest rooms, business center, fitness center, lobby and exterior were renovated.
Mohr Capital Acquires 460 KSF Cleveland Office Center
The transaction was negotiated by Rodrigo Godoi, director of acquisitions with Mohr Capital, and closed at $52 million. The property is fully leased.
Electrolux Renews IL Warehouse Lease
The global appliance leader renewed its lease with Duke Realty for the 965,183-square-foot Midpoint Distribution 801, located in Minooka, Ill.