Industrial N Illinois
The rising value of close-in distribution space

The rising value of close-in distribution space

Once thought of largely as opportunities for conversion to residential lofts and open offices, the close-in urban warehouse is having a resurgence in popularity. Accelerating growth of e-commerce and rising demand from consumers for next-day delivery has highlighted the need for companies to locate warehouses and distribution centers close to densely populated city centers.

Industrial N Illinois
Michael Podboy;CA Industrial

CA Industrial appoints CRE veteran Michael Podboy as president

Chicago-based CA Industrial, the industrial investment and development division of CA Ventures, has appointed Michael Podboy, a veteran of the commercial real estate industry who has overseen more than $750 million in development, as president for the division. Podboy will build on the success of CA Industrial, launched in July 2018 with a goal of investing $500 million in speculative industrial development and acquisition opportunities throughout the U.S. over the next five years.

CRE N Illinois
Noel Rolle;Landmark Partners

Landmark Partners adds industry veteran to it’s property management division

Landmark Partners has hired industry veteran Noel Rolle to its property management division as senior property manager. Rolle has over thirty years’ experience in the property management industry and is accredited for overseeing the operations, maintenance, renovations and enhancement of nearly 3 million square feet of governmental, commercial, hotel and conference properties, as well as over 850 acres of land throughout Illinois.

Finance N Illinois
JLL arranges $9.4M refinancing for Chicago recreational facility

JLL arranges $9.4M refinancing for Chicago recreational facility

JLL arranged a $9.4 million refinancing for The Armoury, a 46,040-square-foot infill industrial facility repurposed as an entertainment trampoline park and athletic training facility in Chicago. JLL worked on behalf of the borrower, a partnership between Clear Height Properties and Diamond Realty Holdings, to place the 9.4-year, fixed-rate loan with a financial holding company.

Office N Illinois

Avison Young takes on 1 MSF in property management for AAM

Effective immediately, Avison Young will assume operation of Alter Asset Management’s (AAM) 1 million square feet of class A office property management assignments across multiple states. The portfolio includes properties in Illinois, as well as Pennsylvania, Georgia and New Jersey. The portfolio includes properties owned by AAM’s parent, national developer Alter, as well as other third-party ownership groups.

CRE N Illinois
CRE Future Leaders: Julia Stoner

CRE Future Leaders: Julia Stoner

Since joining Spaces Real Estate in 2013, broker Julia Stoner has generated more than $4 million in revenue. She and Roman Serra were recently tapped to spearhead Spaces Invest, the firm’s new multifamily sales division.

Multifamily N Illinois
Glen Ellyn mixed-use project clears lawsuit

Glen Ellyn mixed-use project clears lawsuit

A DuPage County judge has granted multiple motions to dismiss a lawsuit brought by Schoub Properties and Citizens for Glen Ellyn Preservation seeking to halt the development of Apex 400, a mixed-use development to be located at the northwest corner of Main Street and Hillside Avenue in Glen Ellyn, Illinois’ CBD.