NAI Hiffman announces lease for Continuum Data Centers

June 19, 2009

Lombard, Ill-based collocation provider Continuum Data Centers, LLC has signed a long-term lease for 21,000 square feet of flex/office space in the Oak Creek Center. The firm will be converting the single story facility into a data center that will open later this month.

Mark Moran, executive vice president with NAI Hiffman‘s Industrial Services Group, represented Continuum in the transaction. Pete Adamo of CB Richard Ellis represented the landlord, pension fund advisor, KBS.

“The data center market is one of the few areas of growth in Chicago’s leasing arena right now,” said Moran. “The Continuum management team was extremely successful with its previous Oak Brook data center venture and should see growth with this new business, even in the current economy.”

Continuum’s creators previously developed an enterprise level 86,000 square foot data center in Oak Brook, Illinois in 2007, which was acquired by a national data center operator in August 2008.

Source: Illinois Real Estate Journal

Posted by NAI Hiffman | Filed Under Industrial, Media Coverage

Sandler Sanitary sells its Chicago building

June 9, 2009

NAI Hiffman’s Industrial Services Group has brokered Chicago’s first industrial building sale completed this year within the city’s limits. Sandler Sanitary Wiping Cloth Co. has sold its 68,000-sq-ft warehouse, located at 2229 S. Halsted St., to Chicago-based real estate investment group, Sterling Bay Cos..

Brian Colson, executive vice president, Larry Goldwasser, vice president, and Eric Fischer, senior associate with NAI Hiffman’s Industrial Services Group, represented Sandler Sanitary.

The buyer has plans to conduct extensive rehabilitation to the interior and cosmetic work on the exterior, creating loft industrial unit space. They will also add parking in the rear of the building.

“The new design should enhance the image of the property location just off the corner of Cermack and South Halsted Street,” said Goldwasser. “This sale happened because Sterling Bay felt the location was excellent and offered good development opportunity.”

Sterling Bay Cos. was formed in 1986 in the Wrigleyville neighborhood with a focus on rehabbing three flat residential buildings. Today, Sterling Bay is aggressively expanding its 2 million-sq-ft portfolio both locally and nationally.

Source: Illinois Real Estate Journal

Posted by NAI Hiffman | Filed Under Industrial, Media Coverage