Press Release

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

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

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

Construction Begins on 236,912 SF Skokie Commerce Center – Cushman & Wakefield Set to Lease

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.

2018-04-23T15:29:27+00:00 September 11th, 2017|0 Comments

Cushman & Wakefield Brings the O’Hare Peninsula Business Park to Full Occupancy

CHICAGO, February 2, 2017 – Cushman & Wakefield announced today that the leasing team of Christopher Lydon, Al Caruana and Britt Casey has closed two leasing transactions at O’Hare Peninsula Business Park to bring the business park to 100 percent leased. Located in Elk Grove Village, IL, O’Hare Peninsula Business Park is a Class A industrial development with seven buildings totaling 256,916 square feet. The Hudson Group, which is based in East Rutherford, NJ, leased 71,478 square feet and was represented by the Cushman & Wakefield tenant representative team of Ray Trevisan, Al Caruana and Britt Casey. Sierra Pacific Industries, which is based in Anderson, CA, leased the remaining 23,826 square feet. Sierra was represented by Cal Payne of CBRE. “O’Hare Peninsula Business Park is one of the Chicago area’s premier business parks,” said Lydon. “Both companies were attracted to the high-end image of the park along with the proximity [...]

2018-04-23T15:29:28+00:00 February 2nd, 2017|0 Comments

Cushman & Wakefield Arranges HQ Lease Renewal for True Value

CHICAGO, January 23, 2016 – Cushman & Wakefield announced today that True Value Company has executed a 125,000-square-foot lease renewal at Presidents Plaza office complex in Chicago’s O’Hare submarket. The recommitment will maintain the hardware cooperative’s headquarters at 8600 W. Bryn Mawr Ave. Cushman & Wakefield Executive Managing Directors Chris Wood and Scott Goldman represented True Value in the transaction. Glenstar Properties LLC, Owner and Manager of Presidents Plaza, was represented in-house by David Trumpy. “We worked closely with True Value’s executive team to evaluate the suburban Chicago office market and assessed a number of options that could meet the needs of the company,” said Wood. “Ultimately, the decision to remain at Presidents Plaza provided True Value with the most favorable combination of economic benefits and facility enhancement options.” Located in Chicago’s O’Hare submarket, Presidents Plaza comprises over 800,000 square feet of Class A office space in four interconnected towers. [...]

Cushman & Wakefield Represents Colbert Packaging in Purchase of 173K SF Warehouse in Kenosha

CHICAGO, January 12, 2017 – Cushman & Wakefield has announced that Colbert Packaging Corporation, a leading manufacturer of folding cartons, rigid setup boxes and paperboard specialty products, has acquired a 173,000-square-foot industrial facility at 9949 58th Place in Kenosha, Wis. The recently constructed, Class A warehouse will serve as the Lake Forest, Ill.-based company’s manufacturing facility for its flexographic packaging operations and related services. Cushman & Wakefield Senior Director Eric Fischer, Executive Directors Brett Kroner and Keith Puritz and Senior Managing Director Bradley Migdal represented Colbert Packaging in the transaction. The seller, Zilber Ltd., was represented by Sergio Chapa of Newmark Grubb Knight Frank. “We started the flexo division 18 years ago and have since been through two expansions. We’re excited to be making this significant investment for expansion that will be the footprint for our projected growth into 2020 and beyond,” said Jim Hamilton, president of Colbert Packaging. Colbert’s [...]

Cushman & Wakefield Completes 70,000 SF HQ Relocation for FMI Inc.

CHICAGO, December 20, 2016 – Cushman & Wakefield has represented FMI Inc., a leading FDA-registered supplier of medical-grade silicone components, in a 10-year, 70,957-square-foot headquarters lease at 500 Bond St. in Lincolnshire, Ill. The move will relocate the company’s headquarters from its current Elk Grove Village location and consolidate several of its regional facilities into one centralized space. FMI also will construct a state-of-the-art clean room at the new location, which will be utilized for the development and production of its medical component products. Cushman & Wakefield Senior Director Chris Lydon and Executive Managing Director Britt Casey represented FMI in the transaction. Nicolson, Porter & List Principal Adam Stokes represented the landlord, UBS, in the transaction. “The move into a larger space and more collaborative environment will support our efforts to foster a culture that’s focused on quality, innovation and exceptional service for our clients,” said Jim Fitzgerald, CEO of [...]