In the News

Cushman & Wakefield Arranges Sale of Seventh Avenue Medical Center

Gino Lollio, Scott Niedergang, Bryan Belville and Eric Schreibman Represented the Buyer and Seller in the Transaction CHICAGO, November 28, 2018 – Cushman & Wakefield has arranged the sale of Seventh Avenue Medical Center in Chardon, Ohio, a Cleveland suburb. Gino Lollio, Scott Niedergang and Bryan Belville of Chicago, brokers in the firm’s Healthcare Advisory Practice, Capital Markets, with the assistance of Eric Schreibman of Cleveland, represented the seller, a group of physicians practicing out of the building and the original builders. They also procured the buyer, an out-of-state private equity firm focused on the acquisition of medical office real estate throughout the country. Seventh Avenue Medical Center is a 27,930-square-foot, ambulatory surgery center-anchored medical office building located at 150 Seventh Avenue. The building was fully occupied with each tenant signing new long-term triple-net (NNN) leases with annual increases prior to the sale. Anchor tenants include Kellis Eye Center, Chardon [...]

Cushman & Wakefield Arranges $10m Sale of Cape Coral Surgery Center

Gino Lollio, Scott Niedergang, Gary Tasman Represented Ownership Group CHICAGO, November 27, 2018 – Cushman & Wakefield has arranged the $10 million sale of Cape Coral Surgery Center Medical Office Building in Cape Coral, Fl. Gino Lollio and Scott Niedergang of Chicago, brokers in the firm’s Healthcare Advisory Practice, Capital Markets, with the assistance of Gary Tasman of Florida, represented the ownership group in the sale. The ownership group consisted of a number of physicians practicing out of the building and associated with the surgery center operation. The Cushman & Wakefield team also procured the buyer, a California-based real estate private equity firm focused on creating and maximizing value through the strategic acquisition and management of assets throughout the country. Cape Coral Surgery Center is a 39,142-square-foot (SF) multi-tenant medical office building that is currently 95% occupied by nine medical tenants including Cape Coral Surgery Center, 21st Century Oncology and [...]

Cushman & Wakefield Hires Top Office Investment Sales Team

Seven-person industry-leading team to cover Chicago and Midwest Markets and grow institutional Capital Markets platform CHICAGO, November 16, 2018 – Cushman & Wakefield announced that the office investment sales team of Paul Lundstedt, Dan Deuter, Tom Sitz and Cody Hundertmark has joined Cushman & Wakefield, effective today, November 15. They are accompanied by their investment, analyst and client service professionals Jeremiah Olsen, Matt Knoff and Debbie Leon. The team joins Cushman & Wakefield’s national Capital Markets practice, which is focused on institutional clients and gateway markets. They will collaborate closely with the Capital Markets and Office Leasing teams in Chicago and across the Midwest, supporting the company’s investor services business. With a combined 85 years of experience executing sales and recapitalization transactions for investment clients, the team has an outstanding track record of $16 billion in total transaction volume, more than 305 sale and/or recapitalization transactions and 110 million square feet [...]

Cushman & Wakefield’s Latest Blockchain Report Shares Insight on Implications for Real Estate Industry

Blockchain influence on transactions, supply chain management are cited as most likely to have ripple effect on commercial real estate markets Chicago, November 16, 2018 – Cushman & Wakefield today released insights on how blockchain, the $945 million-dollar technology underlying cryptocurrencies, will impact the commercial real estate sector around the globe. Cushman & Wakefield’s latest research, Blockchain, Bitcoin and Real Estate - Part 2 of the Tech Disruptor Series, takes a deeper dive into the industries and verticals most likely to transition to blockchain technology in the coming years, and how these innovations will, in turn, impact commercial real estate. While blockchain is forecast to turn into a billion dollar industry in the next few years, growing to $9.7 billion by 2021, the report states that adoption in the commercial real estate markets is limited. To date, a handful of single-family sales have taken place using cryptocurrency. In March 2018, Cushman [...]

Planned Development Entitlement Approved for Largest New Industrial Building in Chicago

Hilco Redevelopment Partners Selects Cushman & Wakefield as Exclusive Leasing Broker for New Exchange 55 Project; Expected Delivery Q1 2020 CHICAGO, November 8, 2018 – Cushman & Wakefield has been selected as exclusive leasing broker for Exchange 55, the largest new industrial development available in Chicago. The Planned Development is approved, which means the site is fully entitled and zoned for industrial. Exchange 55 will break ground immediately, with delivery expected in Q1 of 2020. Developed by Chicago-based Hilco Redevelopment Partners, Exchange 55 offers up to 1,054,852 square feet (SF) of state-of-the-art warehouse space and is divisible to suit tenants of many types and sizes. Ideal for a wide range of uses and offering size flexibility, Exchange 55 will attract tenants across eCommerce, last-mile, food and cold storage, manufacturing, 3PL, warehouse, distribution, rail and heavy power users. The development will include a modern, sustainable design; 40’ clear height; 70’ speed [...]

Heathrow Scientific Signs for 186,616 SF Build to Suit in Lincolnshire, IL

68,589 SF Remain for Leasing CHICAGO October 24, 2018 – Cushman & Wakefield announced today that Heathrow Scientific has signed a build-to-suit agreement at 325 Marriott in Lincolnshire, IL, for 186,616 square feet (SF). Their building will be situated on 10.27 acres and features 25,000 SF of two-story office space, 36’ clear ceilings, and 14 exterior docks. The property broke ground in July of this year and Heathrow Scientific will take occupancy in April 2019. The Cushman & Wakefield team of Brett Kroner, Keith Puritz, and Eric Fischer represented Heathrow Scientific, global manufacturer of bench top equipment and lab essentials, in the transaction. The Cushman & Wakefield team is also acting as leasing agent on the remaining site, offering 68,589 SF of space for lease with a delivery date of spring 2019. The available space includes, 36’ clear ceilings, frontage on Half Day Rd (Rt. 22), along with six exterior [...]

TCS Education System Advances “Radical Cooperation” with New Loop

Jeffrey Skender, Ari Klein, Craig Cassell, Scott Shelbourne, Marcus Berglund, Bill Starcevich and Jon Sisco of Cushman & Wakefield represented TCS   CHICAGO, October 18, 2018 – Cushman & Wakefield was engaged by TCS Education System for a long-term lease signing & build out at 203 N. LaSalle to advance the nonprofit System’s strategic goals. The System moved into its new headquarters on Monday, October 8, and occupies 28,544 square feet – approximately half of the 19th floor. They relocated from their previous 350 N. Orleans headquarters of nearly ten years to better serve their talent with collaborative spaces and the opportunity to “live their brand”. Jeffrey Skender, Ari Klein, Craig Cassell, Scott Shelbourne and Marcus Berglund represented TCS in lease negotiations and Bill Starcevich and Jon Sisco managed the build out project. “TCS came to us with a challenge – leverage a termination option in their current lease and [...]

Cushman & Wakefield’s ‘Tech Cities 2.0’ report confirms Chicago as a major tech hub for the U.S.

Low cost of living relative to other tech markets gives Chicago a leg up Chicago, October 12, 2018 – Cushman & Wakefield today released Tech Cities 2.0 an annual report that identifies existing and emerging tech centers increasingly driving the North American economy and details their impact on the commercial real estate sector. Historically a hard goods hub, Chicago has established itself as an important city for technology (see video clip) and an increasingly appealing choice for tech companies and the young talent they are attracting – with companies like Microsoft, Google, Salesforce and others setting up major operations in the City. Further, non-tech companies reliant on strong tech functions are moving to the City of Chicago because of its strong talent pool. “A confluence of factors such as access to talent, top universities, a relatively low cost of living, and relatively inexpensive real estate costs make Chicago a very appealing [...]

Cushman & Wakefield Hires KIG CRE Brokerage Team

Susan Tjarksen, Todd Stofflet and Jason Stevens Bolster Firm’s Midwest Multifamily Institutional Investment Sales Platform CHICAGO, October 8, 2018 – Cushman & Wakefield today announced the Chicago office has hired KIG CRE’s multifamily institutional investment sales brokerage team. Susan Tjarksen, Todd Stofflet and Jason Stevens joined as Managing Directors on October 1 and will be based in the firm’s office at 225 West Wacker Drive. They are accompanied by Laura Ballou, Jacob Albers, Daniel Falkenberg, Caleb Zielke and Brenda Cuellar from their team. The sales team has brokered over $2.4 billion of multifamily sales, 145 acres of multifamily land and sold more than 33,000 apartment units. Vicki Noonan, Chicago Managing Principal, Cushman & Wakefield, stated: “The KIG team is forward-thinking and has a fantastic transaction track record. Their expertise in interpreting and delivering data-driven intelligence bolsters our Chicago investment sales platform and will drive value and transparency throughout the sales [...]

David Friedland Assumes New Role on Cushman & Wakefield’s Chicago Leadership Team

22-Year Veteran Named Chicago Industrial Group Leader CHICAGO, October 5, 2018 – Cushman & Wakefield is pleased to announce the promotion of David Friedland to Executive Director, Chicago Industrial Group Leader. For the last 22 years, David has represented corporate and institutional clients assisting in tenant advisory, site selection, dispositions, sale/leasebacks and build-to-suits. During his career, he has completed over 750 transactions with a total value in excess of $1 billion. In his new role, David will work alongside Cushman & Wakefield’s industrial brokerage professionals to build and drive occupier and investor client relationships. As part of the leadership team, he will collaborate closely with John Morris, Head of Industrial for the Americas, and Vicki Noonan, Chicago Managing Principal. Vicki Noonan, Chicago Managing Principal, Cushman & Wakefield stated: “We consistently rank as the top CRE industrial platform in the U.S., a standing we’ve earned by always looking for ways to [...]