commercial real Estate

Cushman & Wakefield Arranges $12 Million Loan for the Refinancing of River Square in Naperville, Illinois

CHICAGO, January 14, 2019 – Cushman & Wakefield’s Equity Debt & Structured Finance team has arranged a $12 million loan for the refinancing of River Square, a retail center in Naperville, Illinois. Jeffrey Cohen, Director of the Equity, Debt and Structured Finance group based in Cushman & Wakefield’s Chicago World Headquarters, arranged the full term interest only fixed rate loan, provided by Voya Investment Management, on behalf of Clarion Partners and a large overseas pension fund. “Jeffrey Cohen, Cushman & Wakefield: “Downtown Naperville has become a destination for the surrounding area that continues to drive demand for tenants and investors. The strong underlying fundamentals of rent growth, low vacancy rates, and a limited construction pipeline, coupled with the strong in-place cash flow, potential for future rent growth, and diverse mix of national and local F&B and service retailers proved to be very attractive to the lending community, which aggressively pursued [...]

Cushman & Wakefield Secures 2018’s Largest Industrial Lease in City of Chicago

MAT Limited Partnership and J.P. Morgan’s Marina Crossings is more than 50% leased within 60 days of completion of the site CHICAGO, January 10, 2019 – Cushman & Wakefield represented landlord Marina Crossings Owner, LLC, a joint venture between MAT Limited Partnership and institutional investors advised by J.P. Morgan Asset Management, in securing its first tenant at 2075 W. 43rd Street, a premier infill industrial development. It is the City of Chicago’s largest speculative industrial building since 1905. First Logistics, an Illinois-based 3PL, will expand from their current facility in Alsip, IL to immediately occupy 331,059 square feet (SF) of the 633,057 SF facility. Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire represented the landlord in lease negotiations. Larry Hanley of Midwest Commercial Real Estate represented the tenant. Larry Goldwasser, Managing Director, Cushman & Wakefield: “Marina Crossings is an attractive option for tenants looking for immediate proximity [...]

Cushman & Wakefield Arranges Sale for The Coil Apartments and Fresh Thyme

Todd Stofflet, Jason Stevens and Susan Tjarksen Represented the Seller CHICAGO, December 5, 2018 – Cushman & Wakefield has arranged the sale of The Coil Apartments and Fresh Thyme at 6349 N. College Ave, in Indianapolis to RDG Funds. The property is 151 units of new construction multifamily residences above a 33,500-square-foot retail space anchored by Fresh Thyme. Todd Stofflet, Jason Stevens and Susan Tjarksen represented the seller, Sheehan Companies and Browning Investments. Todd Stoflett, Cushman & Wakefield, said: “The Coil Apartments are well-located in the popular Broad Ripple Village, anchored by a Fresh Thyme, and with a number of dining, entertainment, fitness and shopping options just minutes away. This is one of the first sales of a Class A mixed-use property in Broad Ripple and The Coil is commanding some of the top rents in the area. Overall, it’s well-positioned for long-term growth.” About Cushman & Wakefield Cushman & Wakefield [...]

Cushman & Wakefield Arranges $25m Sale for Thompson Thrift

Evan Halkias, Michael Marks and Craig Collins Represented Seller in Transaction CHICAGO, November 28, 2018 – Cushman & Wakefield has arranged the $25 million sale of Hopkinsville Towne Center, a 185,761-square-foot (SF) open-air community retail center located at 4805-4895 Fort Campbell Blvd. in Hopkinsville, Kentucky. Evan Halkias, Michael Marks and Craig Collins represented the seller, Thompson Thrift, in the transaction. Sarah Lighting, Inc., acquired the property. “Hopkinsville Towne Center is strategically located on Fort Campbell Highway with excellent proximity to suburban residences and shoppers,” said Collins, Director, Cushman & Wakefield. “The property is less than one mile from the James E. Bruce Convention Center and is just 10 miles from the fifth largest U.S. military base. The property is well-positioned for growth over the coming years and is already anchored by strong, long-term tenants like TJ Maxx, Hobby Lobby, Ulta, Five Below and Ross.” About Cushman & Wakefield Cushman & [...]

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 [...]