Transportation Logistics Outlook 2012 – NAI Hiffman’s Adam Roth

April 12, 2012

Adam D. Roth, CCIM, SIOR, director of global logistics for NAI Hiffman, provided his outlook regarding transportation costs and capacity for 2012 during the Trans-Pacific Maritime Conference, which was held March 4-7 in Long Beach, California. Watch the video here:

Posted by NAI Hiffman | Filed Under Industrial, Logistics

Cheese Merchants of America LLC pays nearly $12.5 million for a distribution center

April 3, 2012

As seen in Chicago Real Estate Daily

Cheese Merchants of America LLC paid nearly $12.5 million, or $45 per square foot, for a distribution center at 1301-07 Schiferl Road in west suburban Bartlett. Cheese Merchants will use about two-thirds of the 277,088-square-foot structure, says Jeffrey Fischer of NAI Hiffman, who represented the company. Aerosol can maker Ball Corp. leases 106,670 feet in the building, which is in Brewster Creek Business Park, according to real estate data provider CoStar Group Inc. The cheese maker plans to move from 248 Tubeway Drive in nearby Carol Stream, where it has about 85,000 square feet. The Schiferl Road building was developed by a joint venture of Capital Realty & Development LLC and Dallas-based Orix Real Estate Capital Inc. “Everybody would have liked to sell it for more, but at the end of the day, the market is what the market is,” says Richard Turasky, president of Elgin-based Capital
.

Posted by NAI Hiffman | Filed Under Industrial

Paine/Wetzel/TCN Worldwide completes two lease transactions in Lemont

March 27, 2012

Paine/Wetzel/TCN Worldwide has completed two lease transactions within 101 Corporate Center in Lemont.

Package Containers Inc., a company that manufacturers paper bags, poly bags and wire tires for the supermarket, produce and merchandising industries, has leased a 22,320-square-foot space in the 98,811-square-foot 101 Corporate Center at 20W267 101^st St. The company is relocating from their Burr Ridge facility and chose this location because of the easy access to I-55 and close proximity to I-294 and I-355. They will also make use of the 2,400-square-foot office space, two interior docks, heavy power and ample parking area. Gerald Sullivan, principal of Paine/Wetzel/TCN Worldwide represented the landlord, Manulife Financial, in the transaction. John Whitehead, associate of NAI Hiffman’s Industrial Service Group, represented the tenant.

Also within 101 Corporate Center, Phoenix Inks & Coatings has leased 17,033 square feet of space. The company, which focuses on refilling printer ink cartridges, printer ink supplies and commercial printing inks, is relocating from their Naperville location and chose the facility because of the I-55 access, two interior docks, 3,274 square feet of office space and 600 amps of provided power. Sullivan represented the landlord, Manulife Financial, in the transaction. David Friedland, principal of Newmark Knight Frank, represented the tenant.

Posted by NAI Hiffman | Filed Under Industrial

NAI Hiffman Associate Wins AIRE Mahoney Award

March 22, 2012

As seen in CoStar

On March 14, the Association of Industrial Real Estate Brokers recognized Kelly Disser III, a senior associate with NAI Hiffman’s Industrial Services Group, with the Frank Mahoney Award of Excellence. The event was held at the Rosewood Restaurant in Rosemont, IL.

The organization, which is one of the largest real estate brokerage associations in the state, is comprised of more than 425 industry professionals who command more than 90 percent of all Illinois industrial brokerage transactions. The winner of this award is nominated by their peers, with a focus on their ability to not only excel in transaction volume, but serve their clients and the commercial real estate community.

Disser has been with NAI Hiffman since 2008, winning the “Fast Track” award for his contributions in his first year. In addition to his AIRE membership, Disser serves on the 2012 AIRE Program Committee and is a Certified Commercial Investment Member candidate.

Posted by NAI Hiffman | Filed Under Awards and Honors

NAI Hiffman Releases Metropolitan Chicago Market Review & 2012 Forecast

March 13, 2012

NAI Hiffman is pleased to present its latest Metropolitan Chicago Market Review & 2012 Forecast detailing recent trends, significant transactions and the 2012 outlook for the Chicago Metropolitan office, industrial, retail and investment real estate markets. This year’s report totals 80 full-color pages featuring hundreds of graphs, dozens of tables, up-to-date data, and informative narratives on Chicago’s many real estate submarkets and the local economy. Click on the image to download the full report, or visit the Industrial or Office pages to download information about specific markets.

If you have any questions about the market or have any commercial real estate needs, please contact us by clicking the “Media Contact” link above or call 630 932 1234.

Posted by NAI Hiffman | Filed Under Market Reports

Best in Chicago commercial real estate receive honors

March 8, 2012

As seen in The Chicago Sun Times
Also mentioned in GlobeSt
Also mentioned in Chicago Real Estate Daily
Also mentioned in CoStar
Also mentioned in the Chicagoland Real Estate Forum

The annual Chicago Real Estate Awards met the challenge Thursday night of finding worthwhile projects to honor in a time of little commercial development.

Projects that won accolades for work in 2011 included the new North American home for the pharmaceutical company Astellas in Glenview, the $90 million Rivers Casino in Des Plaines and the renovation of the Presidential Towers complex in the West Loop.

The firm Bridge Developments Partners was named developer of the year for completing two projects in a tough economy: an office building in Lincolnshire and a two-building industrial complex in Woodridge.

The awards, the Oscars of local real estate, were announced at an annual dinner that raises money for the Greater Chicago Food Depository. Organizers said the event at the Hyatt Regency Chicago raised about $875,000.

The Astellas development was named build-to-suit project of the year. MB Real Estate and GlenStar Properties LLC handled the work.

Rivers Casino and partners Development Management Associates and Pepper Construction won for special achievement of the year. It covers 20 acres.

The Presidential Towers work by U.S. Equities Realty and Waterton Residential was named redevelopment of the year. The $22 million alteration to a retail concourse reoriented the stores’ entrances to the street and added a Wal-Mart Neighborhood Market.

An award for innovative deal of the year went to Jones Lang LaSalle Inc. and Prime Group Realty Trust for lease negotiations that brought the American Medical Association to the landmark 330 N. Wabash building, formerly the IBM Plaza. AMA will take at least 275,000 square feet and the building will be renamed AMA Plaza.

The Sun-Times founded the awards, now in their 24th year. Current sponsors are Crain’s Chicago Business and Associated Bank. An industry panel picks nominees and winners are decided by a secret vote of the dinner’s ticket buyers.

Other awards went to:

Industrial broker of the year: Daniel Leahy of NAI Hiffman.

Interior contractor of the year: Leopardo Cos. Inc.

Interior design firm of the year: Partners by Design Inc.

Investment sales broker of the year: Nooshin Felsenthal, Bruce Miller, Jim Postweiler and Jascint Vukelich of Jones Lang LaSalle Inc.

Mortgage broker of the year: David Knapp, Chang Lee, Stephen Livaditis and Michael Pagliari of Eastdil Secured LLC.

Office broker of the year: Joe Learner and Robert Sevim of Studley Inc.

Office property representative of the year: Mark Baby, Jack McKinney Jr., Matt Pistorio and Brian Whiting of J.F. McKinney & Associates Ltd.

Project manager of the year: MB Real Estate.

Property management company of the year: CBRE Inc.

Retail broker of the year: Joseph Parrott and Jim Sakanich, CB Richard Ellis.

Posted by NAI Hiffman | Filed Under Awards and Honors