Dallas-based Hillwood has kicked off construction today for Skokie Commerce Center, a new industrial building at 3601 Howard Street in Skokie, Illinois. The 236,912 square-foot facility will feature 32-foot ceiling heights, onsite storage for 67 trailers, 26 dock doors (expandable to 50) and 270 car parking stalls. With close proximity to two four-way interchanges along I-94, access to some of the best labor in the Midwest, and accessible from both adjacent Howard Street to the north and W. Touhy Avenue to the south, Skokie Commerce Center is easy to access from both the Near North Suburban and Chicago submarkets. Cushman & Wakefield brokers Steve Stone and Jason West have been selected to lease the new development.
Cushman & Wakefield expanded its Industrial Capital Markets team with the addition of Adam Tyler as Managing Director of Capital Markets. Tyler joins the team of Jim Carpenter and Michael Tenteris, a unit that sold more than 77 million square-feet over the past five years. He will be responsible for sourcing and executing industrial investment sales throughout the Midwest. “The opportunity to work for one of the best teams in the business is something I’m truly looking forward to,” said Tyler. “Cushman & Wakefield’s national industrial capital markets platform and client-first focus locked in my decision to join the company.” Tyler has significant industry experience, having spent 11 years at Prologis working various roles including national dispositions, Midwestern acquisitions and development, and asset management.
CHICAGO, March 7, 2017 – Cushman & Wakefield has announced that Chervon, a leading global provider to the power-tool, outdoor power equipment and related industries, has signed a 14-year, 124,000-square-foot sublease at 1203 E. Warrenville in Naperville, Ill., to relocate its North American headquarters and consolidate three of its Midwest facilities. Chervon, whose North American headquarters is currently located in Grand Rapids, Mich., will begin occupancy at 1203 E. Warrenville in the second quarter of 2017. The company is expected to transition approximately 90 employees to the new North American headquarters, with plans to add an additional 100 jobs. Cushman & Wakefield Executive Director Lou Hall and Senior Director Dan Wilkins represented Chervon in the transaction. Senior Vice President Bruce Hopple and Director Adam Showalter, also with Cushman & Wakefield, represented the sub-landlord, SKF Group. “After an exhaustive site selection process, it was determined that Naperville’s quality workforce and thriving [...]
CHICAGO, March 29, 2016 – Cushman & Wakefield has announced the arrangement of four new leases at 111 East Busse Ave., located in the northwest suburbs of Chicago. Cushman & Wakefield Leasing Director Adam Showalter and Associate Connor Lund represented the landlord, Chicagoland investor Gus Dahleh, in the transactions. New tenants include: Baldridge & Associates Structural Engineering, Inc., represented by Mark Brodson of Resource Commercial Sedgwick Advisors, represented by Jack Reardon of NAI Hiffman Chicago Psychological Health Center Good Health to You Dahleh acquired the six-story, 97,191 square foot building in September 2014 and has announced major capital improvement plans for the property, which is anchored by Chase Bank. Scheduled to begin in April 2016, planned renovations include updates to the main lobby and common areas, modernized elevators and a new fitness center. “I am excited about the opportunity to make 111 East Busse the premier commercial office building in [...]
CHICAGO, Feb. 1, 2016 – Cushman & Wakefield, a global leader in commercial real estate services, closed the $43 million sale-leaseback of a 419,052 square foot state-of-the-art, newly constructed cold storage distribution center in Greenfield, Ind., on behalf of its client, Smithfield Foods, Inc. Centurion Investments, LLC, a private real estate investment firm based out of Arlington, Va., acquired the property and is leasing it back to a subsidiary of Smithfield. “This sale-leaseback will allow us to redeploy capital and fund strategic initiatives to further enrich our core business offerings,” said Tim Dykstra, Vice President and Corporate Treasurer at Smithfield. “The Cushman & Wakefield team understood our mission and applied their real estate experience and expertise, which led to a great result; they were invaluable partners for us, from beginning to end,” he added. Situated on 47.6 acres, the distribution center, located in Axcess 70 Business Park, is within close [...]