Industrial

David Friedland Joins Cushman & Wakefield in Chicago

CHICAGO, Sept. 29, 2016 – Cushman & Wakefield has recruited David Friedland to join its Chicago Industrial Services group, further strengthening the firm’s leading industrial practice. Mr. Friedland, a 22-year industry veteran focused on Chicago’s suburban industrial market, will serve as Executive Director. ”David has an outstanding reputation and unmatched expertise that will elevate our Chicago industrial platform significantly,” said Shawn Mobley, Cushman & Wakefield President, East Region. “We will continue to add exceptional talent to complement our leading industrial platform in Chicago, one of the nation’s top industrial markets, and we could not have asked for a better addition to bolster that growth.” Mr. Friedland joins Cushman & Wakefield from Transwestern. He specializes in industrial sale and lease transactions in the Interstate 88 corridor and surrounding western suburbs. Over his career, he has completed 700+ transactions for corporate and institutional clients valued at $1 billion. Mr. Friedland joined Epic [...]

Cushman & Wakefield Arranges Acquisition of Manufacturing Facility for Danco Converting

CHICAGO, September 22, 2016 – Cushman & Wakefield has represented Chicago-based Danco Converting in the acquisition of an 110,071 rentable square foot manufacturing facility located at 455 E. North Ave. in Carol Stream, Ill. Danco Converting, a commercial paper converting company, will consolidate and relocate its two Elk Grove Village, Ill., operations to the Carol Stream facility. Senior Director Chris Lydon, SIOR, of Cushman & Wakefield and Principal Chad Arthur of Arthur Brokerage Group arranged the acquisition on behalf of Danco, as well as the sale of its former facility located at 1901 Greenleaf Avenue in Elk Grove Village. “Our growing customer base has fueled the need for additional production capacity,” said Dan Mulvey, President and Founder of Danco Converting. “The new facility will dramatically increase our production efficiencies and allow for long-term manufacturing and operational excellence. This is a testimony to our continuous commitment to providing our customers with [...]

Cushman & Wakefield Marketing Pershing Crossing for Investment or Leasing Opportunity

CHICAGO, Aug. 30, 2016 – The City of Chicago, owner of Pershing Crossing, has engaged Cushman & Wakefield to market the former military installation in the city’s historic Central Manufacturing District to potential investors and tenants. For 65 years, Pershing Crossing functioned as the U.S. Sixth Army Headquarters and Quartermaster Depot. Today, the three-building, 1.7 million-square-foot complex is undergoing re-visioning and redevelopment into a strategic location for commercial office and data center use. Cushman & Wakefield Vice President Daniel Nack heads the United States leasing team, while Senior Director Richard Howard leads the United Kingdom team. Vice President Lexis Livengood and Director Benjamin Cleveland round out the Cushman & Wakefield marketing team. “Based on their size, load-bearing capacities, and connectivity to nationwide communication networks, the Pershing Road buildings offer significant opportunities for modern commercial uses,” said David L. Reifman, commissioner of the Chicago Department of Planning and Development. “The City [...]

IDI Gazeley Begins Development on One of Chicago’s Largest Industrial Spec Buildings of 2016

CHICAGO, July 20, 2016 – IDI Gazeley, a leading global investor and developer of logistics warehouse and distribution parks, has broken ground on a 749,554 square foot industrial speculative building at 23700 West Bluff Road in Channahon, Illinois. Strategically located near the intersection of I-55 and I-80 in southern Will County, it is the first of four anticipated buildings to be constructed at the Channahon Corporate Center, a 100-acre master-planned industrial and logistics park that will have approximately two million square feet of industrial space. The building is scheduled for completion in the first quarter of 2017. Cushman & Wakefield Executive Director Jason West, SIOR, Senior Director Sean Henrick, SIOR, and Associate Director Michael Magliano are marketing the property on behalf of IDI Gazeley. “We are happy to be underway with this exciting project,” said Tom George, Regional Director of IDI Gazeley. “This is the culmination of three years of [...]

Cushman & Wakefield Completes 191,453 SF of Office & Industrial Leases at Yorkbrook Business Park

CHICAGO, June 7, 2016 – Cushman & Wakefield has completed 22 transactions totaling 191,453 square feet of office and industrial space at the Yorkbrook Business Park in Lombard, Illinois on behalf of Venture One Real Estate. The completion of the new and renewal leases brings the 736,000 square foot, 18-building portfolio, which was acquired by Venture One in March 2016, to approximately 94% occupied. Cushman & Wakefield Senior Director Sean Henrick and Associate Joseph Gatto represented Venture One in the industrial leases, which ranged from 1,338 to 30,627 square feet. Cushman & Wakefield Senior Director Michael Simpson and Associate Allyson Yates are marketing the flex and office properties on behalf of Venture One. Consisting of both single and multi-tenant properties, the portfolio includes 12 industrial properties and six flex office properties. Venture One recently completed renovations to vacant suites, including new energy-efficient lighting and high-end office finishes. The company has [...]

Cushman & Wakefield Arranges 134,514 SF Lease for Zurn Industries

CHICAGO, June 2, 2016 – Cushman & Wakefield has announced that Zurn Industries, LLC has signed a 134,514 square foot lease at 340 County Line Road in Bensenville, IL. A subsidiary of Milwaukee-based Rexnord Corporation, Zurn Industries is relocating its operation in Elkhart, IN and consolidating with its existing operations in the Chicago area. The company will bring the new, Class A 184,170 square foot distribution facility to 100% occupancy with Geib Enterprises leasing the remaining space. “Our center in Elkhart has allowed us to deliver exceptional service to our customers for many years,” said Ken Witter, Director of Real Estate at Rexnord Corporation. “Our new facility in Chicago’s O’Hare marketplace will allow us to further optimize our operating strategies, and maximize our exposure in the Chicagoland area.” Newly constructed in November 2015, 340 County Line Road is a premier 5-star warehouse located 20 miles west of downtown Chicago in [...]

Rich Hamilton Joins Cushman & Wakefield to Head 3PL Specialty Practice

ROSEMONT, Ill., May 9, 2016 – Rich Hamilton has joined Cushman & Wakefield as managing director and head of the commercial real estate services firm’s newly formed 3PL Logistics Specialty Practice Group. He is based in the company’s Rosemont office, which serves as the home base for its Americas Logistics & Industrial Services team. A resident of St. Charles, Ill., Hamilton brings a diverse professional background in manufacturing and supply chain, third-party logistics, and industrial real estate – most recently serving as Prologis’ first vice president, Global Customer Solutions. In his new role, Hamilton is teaming with Cushman & Wakefield’s industrial brokers, research and strategic consulting professionals and other special practice groups to provide facility and real estate advisory services for third-party logistics providers. “Rich is an excellent addition to both our Chicago and U.S. Industrial teams,” noted John Morris, executive managing director of Americas Logistics & Industrial Services. “His [...]

Cushman & Wakefield Arranges $14.3M Sale of Chicago Industrial Properties

CHICAGO, March 15, 2016 – Cushman & Wakefield arranged the sale of 6400 and 6500 West 51st Street, two newly renovated industrial properties located in Chicago’s I-55 corridor. 51st Holdings, LLC purchased the 391,483 square foot portfolio from Venture One Real Estate, LLC for $14.3 million. Cushman & Wakefield Senior Directors Larry Goldwasser and Sally Macoicz, and Associate Directors Colin Green and Michael George represented both parties in the transaction. Venture One acquired the portfolio in 2014 and completed a major capital renovation plan including restored roofs, facade improvements, updated loading docks, revamped office space, lighting and electrical upgrades, and interior and exterior painting. “This is a prime example for the demand in the city for updated, functional properties,” said Goldwasser. “The extensive renovations that Venture One put into the buildings made them competitive with newer product both in the city proper as well as the surrounding Cook County markets,” [...]

Cushman & Wakefield Completes $43M Sale-Leaseback of Distribution Center for Smithfield Foods

CHICAGO, Feb. 1, 2016 – Cushman & Wakefield, a global leader in commercial real estate services, closed the $43 million sale-leaseback of a 419,052 square foot state-of-the-art, newly constructed cold storage distribution center in Greenfield, Ind., on behalf of its client, Smithfield Foods, Inc. Centurion Investments, LLC, a private real estate investment firm based out of Arlington, Va., acquired the property and is leasing it back to a subsidiary of Smithfield. “This sale-leaseback will allow us to redeploy capital and fund strategic initiatives to further enrich our core business offerings,” said Tim Dykstra, Vice President and Corporate Treasurer at Smithfield. “The Cushman & Wakefield team understood our mission and applied their real estate experience and expertise, which led to a great result; they were invaluable partners for us, from beginning to end,” he added. Situated on 47.6 acres, the distribution center, located in Axcess 70 Business Park, is within close [...]