CRE

Cushman & Wakefield Represents Seller on Naperville Crossings

CHICAGO, May 14, 2019 – Cushman & Wakefield today announced the sale of Naperville Crossings, a premier open-air center located in the affluent Chicago suburb of Naperville, IL. The property was acquired by Phillips Edison & Company of Cincinnati. The transaction encompassed 146,591 square foot of existing retail space, of which 92% is currently occupied and leased to national and regional tenants. Located at the intersection of Route 59 and 95th Street in Naperville, the property consists of a diverse tenancy that includes a free-standing Aldi and several high-profile restaurants and service-oriented tenants. Evan Halkias and Michael Marks of Cushman & Wakefield’s Retail Investment Advisors group represented the seller in this transaction. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees [...]

Brad Smith Joins Cushman & Wakefield

Associate Joins Midwest Multifamily Advisory Group CHICAGO, May 1, 2019 – Brad Smith has joined Cushman & Wakefield as an Associate in the Midwest Multifamily Advisory Group, and will be based in Chicago. He joins Todd Stofflet, Jason Stevens and Susan Tjarksen, who joined the firm in October from KIG. Cushman & Wakefield has been expanding its footprint in serving multifamily investor clients and is growing its platform in secondary and tertiary markets across the Midwest. Brad will play an integral role developing new relationships and serving these clients. He brings real estate and business development experience from his previous roles working for Kensington Realty Advisors and Brightedge Technologies. “Our team is an industry leader in multifamily investment sales,” said Todd Stofflet, Managing Director at Cushman & Wakefield. “We are excited to have Brad join the team and know his skills and relationships will serve him well advising clients on [...]

Cushman & Wakefield Completes 1.5 MSF of leasing in I-55 Corridor

Company Bullish on Submarket with Leasing Up and Vacancy Down CHICAGO, April 23, 2019 – Acting as tenant and landlord representative, respectively, Cushman & Wakefield closed on ten transactions across the I-55 corridor in the First Quarter of 2019, totaling more than 1.5 million square feet (msf). Robust leasing activity and a 360-basis points year-over-year decrease point to strong demand for this Chicago submarket. Jason West, Executive Managing Director at Cushman & Wakefield credits institutional-quality real estate, proximity to major interstates, competitive rental rates and a strong labor pool for attracting tenants. “Much of the inventory in the I-55 corridor that was built in the last 12-24 months has been absorbed. Net absorption measured 673, 608 square feet during the first three months of 2019, which is a substantial increase over this time last year. Overall vacancy dropped from 13.7% in Q1 of 2018 to 10.1% in Q1 2019, with [...]

Adventus Realty Services Signs Molina Healthcare of Illinois in Renewal Lease

Daniel Svachula, Michael Simpson and Allyson Yates represented Adventus Realty Services, Inc. CHICAGO, April 2, 2019 – Cushman & Wakefield has represented Adventus Realty Services, Inc., in lease renewal negotiations with Molina Healthcare of Illinois at 1520 Kensington at The Crossings of Oakbrook in Oakbrook, Illinois. The company occupies 37,127 square feet (SF). Daniel Svachula, Managing Director, Cushman & Wakefield: "We are excited to renew Molina at The Crossings. They are a great tenant and we are happy to continue this relationship with a long-term tenant of the building." About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, [...]

Cushman & Wakefield’s Chicago Headquarters Awarded Prestigious WELL Certification

Company Among Early Adopters of the WELL Building Standard CHICAGO, MARCH 25 2019 – Cushman & Wakefield’s global headquarters in Chicago has achieved WELL Certification at the Silver level by the International WELL Building InstituteTM. The company consolidated its Chicago operations to four floors at 225 W Wacker in May 2017. Certification was awarded based on IWBI’s WELL Building StandardTM (WELLTM), a premier building standard focusing on enhancing people’s health and wellness through the buildings where we live, work and play. The company’s Atlanta office also achieved certification this year. Cushman & Wakefield is a Founding Alliance Member of the Well Living Lab, underscoring its commitment to evolving the built environment to best support human needs and enhancing the performance of people in the workplace by making wellness a priority. Additionally, three of Cushman & Wakefield’s Sustainability Services employees are WELL faculty members. WELL certification provides a framework for maximizing [...]

Cushman & Wakefield Recognizes 2018 Top Producers in Chicago

CHICAGO, March 21, 2019 – Cushman & Wakefield celebrates outstanding work on behalf of their valued clients, and the commitment and hard work of their 2018 Top Producers in Chicago. The firm’s global headquarters here in Chicago this week honors 27 individuals across its brokerage service lines including Capital Markets, Tenant Representation, Industrial, and Agency Leasing for their dedication to their work, their clients and the company. “I’m incredibly proud to recognize some of our outstanding brokers in Chicago in 2018, six of whom made Cushman & Wakefield’s Americas Top 100 List, which is a true testament to the strength of our Chicago platform and work on behalf of clients,” said Vicki Noonan, Chicago Managing Principal, Cushman & Wakefield. “Each of these individuals has made a tremendous impact on our business, our company culture and they are standouts in the commercial real estate sector. These talented professionals are also the [...]

Cushman & Wakefield Lands Gregory Kirsch to Lead Midwest Retail Leasing

Appointment reflects continued growth within company’s Chicago business CHICAGO, February 19, 2019 – Cushman & Wakefield announced that Chicago retail leasing veteran Gregory Kirsch has joined the firm as Executive Managing Director and Midwest Retail Leader, effective today, February 19th. Kirsch joins from Newmark Knight Frank. Kirsch is Cushman & Wakefield’s latest addition to its national retail services platform and will be based in Chicago, focusing on the firm’s Midwest retail tenant and landlord clients. He will work closely with the property management and capital markets teams in Chicago and across the region, supporting the company’s broader retail platform. His mandate includes growing Cushman & Wakefield’s retail services offering across the Midwest, including recruitment of a retail team to be based in Chicago. Vicki Noonan, Chicago Managing Principal at Cushman & Wakefield: “The retail sector has been undergoing a marked evolution for some years now. Greg truly understands how the [...]

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Cushman & Wakefield Represents Thor Equities Group in Securing Mondelez International Office Relocation

New long-term lease brings global consumer brands company to Fulton Market CHICAGO, February 6, 2019 – Cushman & Wakefield represented landlord Thor Equities Group in leasing 905 West Fulton Market, in Chicago’s popular Fulton Market District, to Mondelez International. The company signed a 15-year lease for 83,250 square feet (SF) at the prime mixed-use property. The lease includes all 77,100 SF of office space and 6,150 of retail space, leaving 10,450 SF available for lease in the building. Mark Bâby and Ben Cleveland of Cushman & Wakefield represented Thor Equities Group in the transaction. Kyle Kamin and Chris Reynolds of CBRE represented Mondelez. Mark Bâby, Managing Director, Cushman & Wakefield: “The brick and timber loft style building at 905 West Fulton Market was an ideal headquarters opportunity for Mondelez’s relocation from Deerfield. Working with Mondelez needs, Thor structured an attractive office solution that benefited both parties. Mondelez’s occupancy will be [...]

Demolition of Former Dairyland Greyhound Park Makes Way for Kenosha Commerce Center

State-of-the-art industrial park to bring additional industry and new jobs CHICAGO, January 23, 2019 – Cushman & Wakefield is representing the new Kenosha Commerce Center (“KCC”), to be located on the former site of the Dairyland Greyhound Dog Track at 5522 104th Avenue, Kenosha, WI, 53144. The site, an industrial business park, will deliver in early 2020 and can accommodate industrial buildings comprising up to 1.8 million square feet (SF). The amenities-rich site, which totals 214 acres, will become Kenosha’s newest industrial business park and will be available for development and construction of build-to-suit leases and purchases in early 2020. KCC is located just north of the Wisconsin – Illinois border off the four-way interchange of I-94 and State Highway 158 and in convenient proximity to three airports – Kenosha Regional Airport is just across the street from the site, General Mitchell International Airport is a 30-minute commute and O’Hare [...]

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 [...]