In the News

Cushman & Wakefield Announces Sale of Medical Office Condominium De-conversion

Acquired by private equity healthcare real estate investor IRA Capital CHICAGO, April 18, 2018 – Cushman & Wakefield announced today that Gino Lollio and Scott Niedergang of the firm’s Healthcare Capital Markets team have facilitated the sale of the Fletcher Drive Medical Center located 40 miles northwest of Chicago in Elgin, Illinois, to California-based private equity real estate investor IRA Capital. Fletcher Drive Medical Center consisted of ten medical office condominiums totaling 40,000 Square Feet that were individually owned by various physician groups. Prior to sale, Scott and Gino consulted the condo association to maximize the value of their individual units by pursuing a portfolio sale of all the units simultaneously. At closing, IRA Capital collapsed the condo association and converted the asset to a standard multi-tenant medical office building. As part of the sale, each physician group agreed to lease back their units at lease terms ranging from 5 [...]

2018-04-23T15:29:27+00:00 April 19th, 2018|0 Comments

Group Selects Cushman & Wakefield to Lease Metro Chicago Industrial Property

Britt Casey and Jeff Matella Lead Marketing Efforts for 350 S. Church St. in Addison CHICAGO, March 22, 2018 – Cushman & Wakefield announced today that The Silverman Group has selected the firm to market for lease 350 S. Church St. in Addison, IL. The New Jersey-based developer/investor acquired the 87,219-square-foot building earlier this month and has named Cushman & Wakefield’s Britt Casey and Jeff Matella as exclusive marketing agents. The modern, recently updated facility features 7,150 square feet of office space, 24-foot clear heights, 13 exterior docks, one drive-in door and 59 car parking space (expandable). The building is ideal for manufacturing, assembly, food processing and warehousing operations, and is centrally located with easy access to major roadways including Interstate 355, Interstate 290 and Interstate 390 (Elgin O’Hare Expressway). “We are very pleased with the acquisition of 350 S. Church St., a nice addition to our existing industrial portfolio [...]

2018-03-22T12:34:00+00:00 March 22nd, 2018|0 Comments

Cushman & Wakefield Recognizes Top Producers in Chicago for 2017

CHICAGO, March 15, 2018 – Cushman & Wakefield celebrates hard work, passion, and a commitment to clients in 2017 with the announcement of its top producers in Chicago. The firm’s global headquarters honors 25 individuals across its brokerage service lines including Capital Markets, Tenant Representation, Industrial, and Agency Leasing. “These dedicated individuals consistently make a tremendous impact on our Chicago business, culture, and clients,” said Vicki Noonan, Chicago Managing Principal, Cushman & Wakefield. “I am honored to recognize their efforts and contributions to commercial real estate. I know they will be the first to acknowledge that their success is a testament to their teams and the spirit of collaboration that makes Cushman & Wakefield stand out in this industry.” The 2017 Chicago Overall Top Producer was Jack Keenan, followed by Alex Smith and Britt Casey – all are Executive Managing Directors. These three brokers also earned a place on Cushman [...]

2018-04-23T15:29:27+00:00 March 15th, 2018|0 Comments

American Library Association Appoints Cushman & Wakefield as Strategic Real Estate Advisor

CHICAGO – The American Library Association (ALA) has appointed Cushman & Wakefield as its exclusive real estate advisory firm to assist in the development of strategic real estate options that support the mission, business, and financial goals of the ALA. As their real estate advisor, Cushman & Wakefield will provide the real estate and consulting services needed to achieve the ALA’s stated goals and optimize the value of their current headquarters at 40-50 East Huron that will ultimately help the ALA achieve greater operational excellence, grow its membership base, and have more resources to invest in programs and services for members. “Cushman & Wakefield will provide us with strategic real estate advice and services,” said Mary Ghikas, executive director of the American Library Association. “The firm has the requisite deep experience with not-for-profits and downtown Chicago headquarters and the right resources to help us identify and secure the best real [...]

2018-02-28T13:53:54+00:00 February 28th, 2018|0 Comments

Cushman & Wakefield Expands Chicago Valuation & Advisory Team

CHICAGO, February 22, 2018 – Global commercial real estate services firm Cushman & Wakefield has added three key valuation and appraisal professionals to its Midwest team in the Chicagoland area, the company announced today. The hires are the latest in a string of 140 key talent acquisitions the firm has made over the last year as it expands the reach of its Valuation & Advisory practice group across the Americas. Michael Gathman, MAI, has worked in the real estate industry for more than 20 years and has serviced a wide array of valuation clients including corporations, financial entities, developers, and pension funds. He has provided valuation services for mixed-use developments, industrial, office, retail, and hotel assets, with a particular emphasis on existing and proposed multi-family projects including condominium properties. He joins the firm from NPV Advisors and was previously an appraiser with Realty Services International and Real Estate Counselors International, [...]

2018-04-23T15:29:27+00:00 February 23rd, 2018|0 Comments

Gino Lollio and Scott Niedergang Join Cushman & Wakefield’s Healthcare Advisory Group

Medical Office Investment Sales Professionals Bring National Expertise in Single-Asset and Portfolio Dispositions CHICAGO, February 6, 2018 – Cushman & Wakefield announced today that Gino Lollio and Scott Niedergang have joined the firm as Managing Directors as part of the firm’s National Healthcare Capital Markets Group within Cushman & Wakefield’s Healthcare Advisory Group. Lollio and Niedergang will lead a Chicago-based team that offers healthcare providers, developers and investors a global platform to seamlessly leverage and access the expertise of Cushman & Wakefield’s local experts and leading market position to best devise acquisition, disposition and recapitalization strategies. Additionally, they will continue to advise healthcare providers on capital raising efforts via sale-leaseback transactions. Over the past decade, Lollio and Niedergang have closed on the sale of more than 100 medical-office assets in 20 states valued at more than $700 million, with transactions including single-asset and portfolio offerings of medical office buildings (MOB), [...]

2018-04-23T15:29:27+00:00 February 6th, 2018|0 Comments

Northern Builders, Inc. Breaks Ground on a Two-Phase Development Project at Cherry Hill Business Park in New Lenox, IL

Cushman & Wakefield Marketing New Industrial Development Fronting Interstate 80 CHICAGO, January 29, 2018 – Locally based Northern Builders, Inc. has broken ground on phase one of a two-phase development at Cherry Hill Business Park in New Lenox and Joliet, IL. The Cushman & Wakefield team of Executive Managing Director Jason West, SIOR; Executive Director Sean Henrick, SIOR; Director Doug Pilcher; and Associate Director Mike Magliano are marketing the 171,394-square-foot industrial property on behalf of the Northern Builders, who is on schedule to deliver the building in June 2018. Located at 2401 W. Haven Ave. in Will County, the property fronts Interstate 80 and offers immediate access to Interstate 355 as well as proximity to Interstates 55 and 57. The building has availabilities from 50,000 to 171,394 square feet. “This development will cater to tenants in the 50,000 to 170,000 square foot range who want quick access to I-80 and [...]

2018-04-23T15:29:27+00:00 January 29th, 2018|0 Comments

Cushman & Wakefield Expands Capital Markets Talent

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.

2018-04-23T15:29:27+00:00 August 9th, 2017|0 Comments

Chervon Moving North American Headquarters to Naperville

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 [...]

2018-04-23T15:29:27+00:00 March 7th, 2017|Tags: , , , , , |0 Comments

Exeter Property Group Acquires 1881 Rose Road in Lake Zurich, Ill

CHICAGO, February 21, 2017 –  Cushman & Wakefield announced today that Philadelphia-based Exeter Property Group has acquired 1881 Rose Road in Lake Zurich, Ill., from New Age Logistics. Cushman & Wakefield Executive Directors Brett Kroner and Keith Puritz and Senior Director Eric Fischer acted as the sole brokers in the transaction, and have been retained by Exeter to lease the 100,762-square-foot flex property. Located on 6.45 acres, the building includes 15,872 square feet of Class A office space that was constructed in 2001, while the adjacent warehouse space was built in 2005. The building’s warehouse portion offers 26-foot ceilings and 17 exterior doors as well as one drive-in door. Exeter plans to replace the building’s lighting and make cosmetic improvements to the office space. About Cushman & Wakefield Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. [...]