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Cushman & Wakefield Fills Out Chicago Capital Markets Platform with Additions of Jeff Altenau and Zach Yarnoff

CHICAGO, October 21, 2019 – Cushman & Wakefield has further strengthened its Capital Markets team in Chicago with the additions of Jeff Altenau as Executive Managing Director, and Zach Yarnoff as Managing Director. Both come to Cushman & Wakefield from Eastdil Secured, where they worked on notable transactions including Willis Tower, River Point, 150 North Riverside, Easton Town Center and Wells Fargo Center Minneapolis. Altenau will lead the firm’s Debt Capital Markets platform for Chicago and the Midwest. Yarnoff will partner with Altenau in growing the company’s business and execution of large, highly complex structured real estate financings as well as middle market financings across all asset types and service lines. Altenau has nearly 20 years of experience in the institutional real estate debt capital markets with an extensive background working across various parts of the capital stack, including first mortgages, B-notes, mezzanine financings and preferred equity, as well as [...]

Chicago Downtown Office Leasing Activity Reaches Decade High

CHICAGO, Oct. 14, 2019 -- Chicago’s downtown office leasing activity reached a decade high in the first three quarters of 2019, with transactions totaling 7.8 million square feet, a 7.4% increase over the same period last year. Activity slowed in the suburbs, however, with year-to-date leases totaling just over 3 million square feet, a 9% decline from 2018, according to the newly released “Chicago Q3 Office Market Snapshot” from Cushman & Wakefield. Chicago CBD Office Stats: Robust absorption of Class A space lowered the overall vacancy rate to 13.1% in the third quarter, from 14.2% in third-quarter 2018. Fueled by an ongoing wave of corporate relocations, the West Loop was the most active submarket, with 4.5 million square feet of lease transactions executed so far in 2019, up 35.9% from the first three quarters of 2018 and accounting for 57.8% of total CBD leasing this year. The third quarter’s top [...]

Fulton Market in Chicago Named to Top 20 “Cool Streets” in North America by Cushman & Wakefield

CHICAGO, October 11, 2019 – A new wave of urban, experiential and independent retail concepts catering to changing consumer demands has led to the rise of 100 “Cool Streets” across the U.S. and Canada, according to a report released this week by global real estate services firm Cushman & Wakefield.  Included in the report’s top 20 is Chicago’s own Fulton Market District, which has evolved into one of the city’s premier live, work, play neighborhoods in recent years. The firm’s much-anticipated Cool Streets of North America report explores what’s driving the rise of the hottest retail districts across the U.S. and Canada. In addition to Fulton Market, the report outlines the top 20 Cool Streets in depth, including: Portland (whole city); Austin (whole city); Denver (whole city);  Boise (Downtown); Los Angeles (Arts District); Buffalo (Downtown); Manhattan (Bond Street/NoHo); Montreal (Mile End); Honolulu (Kaka’ako); Indianapolis (Massachusetts Avenue Arts District); Boston (South [...]

Chicago-Area Industrial Market Maintains Momentum in Third Quarter

CHICAGO, October 9, 2019 – The Chicago-area industrial vacancy rate continued to decline in the third quarter even as developers bring more supply to market, suggesting long-term fundamentals remain despite lingering economic and geopolitical uncertainty, according to the newly released “Chicago Q3 Industrial Market Snapshot” from Cushman & Wakefield, the top industrial agency leasing firm in Chicago. “As we head into the final months of 2019, signs point to yet another year of growth for Chicago-area industrial activity,” said Jason West, vice chair, on Cushman & Wakefield’s Chicago industrial team. “Firms like Crate & Barrel, which recently reported that nearly half of its sales are now online, continue to drive demand for large-scale distribution centers with easy access to consumers. We’ve already seen more of these big-box deals in 2019 than during the same period last year, and with several others expected to close by year’s end, we’re confident in [...]

Industry Leader Josh McGee Joins Cushman & Wakefield’s Growing Investor Platform in Chicago

CHICAGO, October 1, 2019 – Cushman & Wakefield has announced the addition of Josh McGee as managing director with Corporate Capital Markets. He brings over 20 years of experience in capital markets investments, and will provide advice, analysis and execution to Cushman & Wakefield’s institutional clients in the disposition of single-tenant assets and sale leasebacks. Additionally, McGee will provide credit analysis for single tenant sales as well as multi-tenant sales where one tenant represents a significant part of the rent roll. Prior to joining Cushman & Wakefield, McGee was executive director with JP Morgan’s Asset Management High Yield business unit for four years, where his team managed the JP Morgan High Yield Mutual fund, the JP Morgan Disciplined High Yield ETF, as well as significant institutional investor mandates. Throughout his career, McGee has been directly involved in raising both debt and equity capital for public companies as well as private [...]

Industry Leader Chris Bobowski Joins C&W Retail Team

CHICAGO, Sept. 5, 2019 – Cushman & Wakefield has announced the addition of Chris Bobowski, an industry veteran of over 20 years, as senior director on the Chicago retail brokerage team. Bobowski will focus on tenant representation in the Chicago area and big box multi-market accounts and will work out of the company’s Chicago headquarters office. Over the past 15 years, Bobowski has been a broker at Bobowski Commercial Real Estate in Naperville, Ill., focused on tenant representation in the greater Chicago area, as well as other Midwest markets including Indianapolis, Madison, Milwaukee and Northern Indiana. He has experience in lease negotiations, land and building acquisition, market analysis, market roll-out and strategy implementation, and has worked with local and national clients such as Cycle Bar, Fidelity Investments, Gordon Food Service (GFS), HyVee, Party City, Phenix Salon Suites, Portillo’s, Starbucks and Art Van Furniture. Vicki Noonan, Chicago Managing Principal at Cushman [...]

2019-09-05T13:49:27-05:00September 5th, 2019|Tags: , , , , , , |

C&W’s Susan Tjarksen to Moderate Co-Living Panel at Global Summit in New York City

CHICAGO, Sept. 4, 2019 – In cities around the world, shifts in lifestyles and habits are challenging the traditional housing preferences in which urbanites reside. As a result, entrepreneurs, designers, city planners, universities and developers are collaborating to create hybrid living typologies to adapt to more nomadic generations. Top U.S. and European co-living and student accommodation market leaders will gather in New York City on Tuesday, Sept. 17, for the first-ever Class of 2020 global summit, “The Future is Blended,” to exchange best practices to help shape shared urban living models of the future. Susan Tjarksen, managing director at Chicago-based Cushman & Wakefield, will co-moderate a Q&A of high-profile industry experts who will explore key trends in co-living, co-working and student accommodation. The program takes place at WeWork in New York’s SoHo neighborhood. “While co-living is not a new concept, its popularity has grown so much in recent years that [...]

Cushman & Wakefield Represents Landlord and Tenant in Large Edens Corridor Industrial Lease

CHICAGO, Sept. 3, 2019 – Cushman & Wakefield represented the landlord, Hillwood, and tenant, an undisclosed e-commerce company, in the long-term lease of Skokie Commerce Center, a newly constructed 236,912 square feet (sf) industrial building at 3609 - 3639 Howard St., in Skokie, Ill. The transaction is one of the largest leasing deals in the Edens Corridor this year, topping the lease of 202,259 sf at 7080 N. McCormick Blvd. in Lincolnwood to CubeWork in June. The 15.18 acre site is conveniently located off the I-94 expressway and is accessible from both Howard St. and Touhy Ave. Jason West, Vice Chair, and Steve Stone, Director, of Cushman & Wakefield represented Hillwood in the transaction. “The property provides the new tenant with a modern facility, ample car and trailer parking, and excellent access to the near north suburbs and city of Chicago,” said West.  About Cushman & Wakefield Cushman & Wakefield [...]

Cushman & Wakefield Represents Landlord in Large Edens Corridor Industrial Lease

CHICAGO, June 25, 2019 – Cushman & Wakefield represented the landlord New Lincoln LLC in the long-term lease of 202,259 square feet (sf) of an industrial building at 7080 N. McCormick Blvd., in the near north suburb of Lincolnwood, to CubeWork, an office and warehousing co-working company. The transaction is one of the largest leasing deals in the Edens Corridor over the past 10 years. The 234,000 sf property sits on a 8.6 acre land site, and the balance of the building is leased to Service King, a national vehicle collision repair company. Steve Stone, Director, Advisory and Transaction Services, of Cushman & Wakefield represented New Lincoln LLC on the leasing side. CubeWork was represented by Bill Mass of Mass Realty. “This property offers the new tenant with a great deal of flexibility under one roof in a prime location just outside of the Chicago city limits,” said stone. About [...]

Represents Planmeca in Purchase of New U.S. Headquarters in Hoffman Estates

CHICAGO, June 11, 2019 – Cushman & Wakefield announced that Planmeca USA Inc., one of the world's leading manufacturers of dental equipment, has purchased the former Serta Mattress Co. building at 2600 Forbs Ave., in Hoffman Estates, where they will relocate their U.S. headquarters this year. Currently located in approximately 77,000 square feet (sf) within two adjacent buildings in nearby Roselle, the move consolidates Planmeca’s operations—which includes their U.S. headquarters corporate office, a testing and distribution center for their product lines, and a showroom and training center—to one location totaling 90,000 sf on a 19-acre land site. Britt Casey, Vice Chair, and Jeff Matella, Associate, of Cushman & Wakefield represented Planmeca on the purchase of this property. Mark Smith, Senior Vice President, of CBRE represented Serta. “This state-of-the-art facility is truly a masterpiece that offers expansion capabilities and is strategically located directly off the I-90 expressway within the prestigious Prairie Stone [...]