Industrial N Illinois Avison Young to market 73,000 SF O’Hare industrial building Avison Young has been awarded the exclusive sale listing for a 73,249 square foot industrial flex building at 800-820 Thorndale Avenue in Bensenville, Illinois. Located on just under six acres in the O’Hare submarket, the multi-tenant building is 82 percent leased.
Industrial N Illinois Prologis to acquire Industrial Property Trust in $4B deal Logistics real estate giant Prologis, Inc. has signed a definitive merger agreement to acquire Industrial Property Trust Inc. (IPT). Prologis will acquire IPT's wholly owned real estate assets for approximately $3.99 billion in a cash transaction, including the assumption and repayment of debt. The transaction is expected to close by the fi…
CRE Midwest Four Midwest developments named as finalists for ULI Global Awards for Excellence Of the 19 developments from around the globe that have been selected as finalists for the Urban Land Institute’s (ULI) 2019 Global Awards for Excellence competition, four are located in the Midwest. Widely recognized as one of the real estate industry’s most prestigious honors, the Global Awards for Excellence recognize real estate projects…
Industrial N Illinois Prologis launches community workforce initiative in Chicago Prologis, Inc. has partnered with the Quad County Urban League on its “Propel by Prologis” job-readiness program. This collaboration is part of the Prologis Community Workforce Initiative (CWI) and the company’s commitment to expand work-based learning opportunities for those interested in careers in logistics, distribution and transportation.
CRE N Illinois CRE Future Leaders: Cal Payne A member of CBRE’s agency and occupier brokerage groups, Cal Payne advises clients in the leasing, acquisition and disposition of industrial facilities throughout North America. Since 2012, he and his team have completed over 300 transactions totaling more than 24 million square feet and valued at over $850 million.
Industrial N Illinois Cushman & Wakefield completes 1.5 MSF of leasing in I-55 Corridor 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. Robust leasing activity and a 360-basis point year-over-year decrease point to strong demand for this Chicago submarket.
CRE N Illinois Lee & Associates of Illinois welcomes Brent De Noble Lee & Associates of Illinois recently hired long-time real estate veteran, Brent De Noble, who will serve as a senior vice president out of the firm’s Rosemont, Illinois office. He specializes in the disposition, acquisition and leasing of industrial properties, office buildings and land.
Industrial N Illinois No life support needed for Chicago's industrial market Industrial showed continued vigor in Chicago in 2018. In fact, activity in the asset class ended the year strong by just about every benchmark available, according to new research by Colliers International.
Industrial N Illinois Lee & Associates negotiates pair of industrial leases near O'Hare Lee & Associates of Illinois closed a long-term lease and a lease renewal in two separate industrial transactions. The properties, in Bensenville and Glendale Heights, Illinois, are located in Chicago’s North DuPage submarket, in close proximity to O’Hare International Airport.
Industrial N Illinois No end in sight for speculative industrial From this time last year until now, unemployment in Chicago is down and the number of construction jobs are up. The market downturn that many fear hasn’t yet reared its head. All of which means the historic run of speculative development in Chicago continues apace.
Industrial N Illinois Lee & Associates negotiates long-term industrial lease in Elk Grove Village Lee & Associates has closed a $6 million lease transaction for a 101,536-square-foot industrial building located at 2567 Greenleaf Avenue in Elk Grove Village, Illinois.
Industrial N Illinois Lee & Associates brokers trio of industrial transactions in DuPage County Lee & Associates has brokered three industrial transactions in DuPage County, Illinois. The deals included a sale in Addison, Illinois and two leases in Hanover Park, Illinois.
Industrial N Illinois Northern segment of Chicago MSA sees variegated industrial activity For the second quarter in a row, leasing velocity increased in Chicago’s overall industrial market, totaling 10.1 million square feet during the third quarter of 2018. According to a Research & Forecast Report by Colliers International, the northern submarkets had varying changes to absorption and vacancy, though mostly improved.
Industrial N Illinois Brennan Investment expands Midwest leasing team Brennan Investment Group announced two new hires—Scott Gibbel, vice president, and Fordy Gates, senior associate—as well as the promotion of Sarah Brennan from her role as director of marketing to leasing associate. They will oversee Brennan’s leasing efforts for the Midwest.
Industrial N Illinois CBRE negotiates more than 234k SF of O'Hare industrial leases for Prologis CBRE recently completed four industrial leases on behalf of Prologis in Chicago’s O’Hare submarket for a combined 234,090 square feet. CBRE’s Kevin Segerson, Matt Mulvihill, Cal Payne and Philip DeBoer represented Prologis in the four transactions in Elk Grove Village, Illinois.
CRE N Illinois Optimizing buildings for property, facility and asset managers On August 16, 2018, REjournals hosted the Asset, Property, Facility Management conference. Held at the Drake Hotel in Oak Brook, Illinois, the 14th annual event attracted approximately 150 industry professionals to hear experts discuss the trends and best practices for asset management.
Industrial N Illinois Some improvement in the I-55 Corridor The Chicago metro industrial market remained strong last quarter. The 8.6 million square feet of new leasing activity during Q2 is the highest quarterly total since 2015 and the plummeting vacancy rate, which was down by an 23 basis points to 6.4 percent, is the lowest rate recorded since 2001.
CRE N Illinois NAI Hiffman promotes three to executive vice president, shareholder NAI Hiffman has promoted Adam Johnson, David Haigh, SIOR and Jason Wurtz from senior vice president to executive vice president. The three have also been named as the newest shareholders of the firm.
Industrial N Illinois CA Ventures launches $500M industrial division, appoints key executive Chicago-based CA Ventures announced an expansion of the firm’s global, multi-sector platform through the launch of CA Industrial, a new division that will pursue speculative development and acquisition opportunities throughout the U.S. Leading CA’s expansion in the sector will be CA chief development officer Sean Spellman and Jim McGill, a …
Industrial N Illinois The short- and long-term implications for Chicago’s industrial market For the first half of 2018, industrial remained strong in Chicago. According to Newmark Knight Frank research, the market’s absorption was lower than usual and vacancy increased slightly, but the asset class is still performing well and is projected to keep its record pace for at least the near future.