AIRE names 2012 officers and board of director members

February 10, 2012

The Association of Industrial Real Estate Brokers (AIRE) recently named its officers and board of directors for the 2012 program year. The announcement was made by outgoing president Corey Chase, a principal with Riverwoods, Ill.-based Podolsky Northstar CORFAC International.

Taking over the helm as the 2012 president of the association is John Gledhill. His officer team includes vice president Thomas Boyle, Newmark Knight Frank Epic; secretary Chris Gary, NAI Hiffman; and treasurer Scott Duerkop, Jones Lang LaSalle Americas, Inc..

Serving as members of the board of directors are Sergio Chapa, Lee & Associates of Illinois, LLC; Brendan Green, Colliers International; Adam Marshall, NAI Hiffman; Michael Prost, Lee & Associates of Illinois, LLC; Jason West, Cushman & Wakefield of Illinois, Inc.; and John Coleman, Newmark Knight Frank Epic.

“Serving as president was a humbling experience,” Chase said. “It was great to be the leader of such a passionate group of professionals. I truly appreciate the hard work and dedication of the officers, board of directors, volunteers and the AIRE staff. These are great people, and I enjoyed the opportunity to lead them.”

In looking ahead to the 2012 calendar year, Gledhill, who has one major focus for 2012, said, “Everything I ask our board and committee members to accomplish will be singularly focused on increasing value to the membership and their businesses.”

Gledhill specifically pointed to a revamping of the e-mail, Web site and information systems, all of which are core benefits to members. Other benefits include the “regular events and activities” that have become part of the fabric and camaraderie of the association: the golf outing, trade show, virtual tour, charity events and the holiday party.

Posted by NAI Hiffman | Filed Under General Business

Retail Investors Optimistic About Greater Oak Brook Market

February 8, 2012

As seen in the Trib Local

Some of the most successful retail developers in the nation have made major investments here in Oak Brook and Oakbrook Terrace. A few of these developers include Dennis Hiffman, chairman NAI Hiffman and CEO of NAI Hiffman and John R. Calfa of JRC Investments. These commercial real estate experts have reliable insights to share about the Greater Oak Brook retail market.

Hiffman is confident the Oak Brook and Oakbrook Terrace office and retail markets will continue to forge ahead of other markets. “Oak Brook and Oakbrook Terrace are well-thought out, mature and business-friendly communities, and the depth of these markets is very good,” Hiffman said. “Both communities also have a more diverse mix of businesses than other communities, which motivates more businesses to gravitate here.”

Calfa is also very optimistic about retail development in Oakbrook Terrace, especially now that the 22nd Street road widening project is nearing completion. He also believes the addition of sidewalks on both sides of 22nd Street along Butterfield Road, between Rt. 83 and Midwest Road will greatly increase foot traffic for retail businesses.

“I’ve seen the economy improve over the last six months,” Calfa said. “And, in my opinion, the 22nd Street improvements will make this one of the most important retail corridors in DuPage County.”

“I’m also very excited about the addition of the Tilted Kilt at JRC Plaza,” Calfa said. “This restaurant will bring critical new business to the area that will benefit Oakbrook Terrace and its commercial tenants.”

Posted by NAI Hiffman | Filed Under General Business

Oak Brook panel tackles signs

January 18, 2012

As seen The Doings Oak Brook

Oak Brook’s newly revived commercial revitalization committee kicked off their first meeting in over three years this week with a review of the past while attempting to set goals for the future of the village.

Former Trustee Jeff Kennedy chaired the committee, which met as a committee of the whole due to a lack of quorum, with six of the 10 members attending.

The group discussed the village’s original commercial revitalization plan, which included new signs to help visitors locate businesses in the not-so-visible areas of Oak Brook. Examples included Jorie Boulevard, and Commerce and Windsor drives.

Initial plans for signs included stone monuments around 10 feet tall with the various business names on them. The size and cost of such a plan was scrutinized.

“It’s a slippery slope,” said Oakbrook Center general manager Chuck Fleming. “The more (names) you put on a sign the harder it’s going to be to read.

“Some offices have 20-25 tenants. Who’s going to be on there and who’s not? It’s going to be quite difficult.”

The village estimated the larger signs to cost around $75,000 each, but was hopeful businesses would help offset the cost. With the questions brought up, the committee felt the village would have a tough time being reimbursed for its investment.

Jeff Shay of Jones Lang LaSalle said the signs were “advertising in the form of directional signage,” and they could create conflicts with current signs and monuments placed by existing businesses.

Community Development Director Bob Kallien presented the opportunity site analysis which chose 20-25 sites within the village as having potential to add development, be redeveloped or have new development.

Seven consultant proposals were submitted to study only three or four of the areas in the hope that when the economy improves they’d be ready for improvements, but some felt it may be an unnecessary task for the village.

“I think smart developers already have put Xs on properties,” said Dennis Hiffman of NAI Hiffman. “I think when the market tells them to (the developers) will come to the village.”

Village President Gopal Lalmalani felt the meeting was productive and stressed the commercial revitalization and streetscape committee continue to beautify the village to set Oak Brook apart from other communities within DuPage County.

“Twenty-Second Street is our Michigan Avenue,” Lalmalani said. “We have to make it as beautiful as we can.”

Lalmalani also brought up the idea of a downtown area for Oak Brook, which, he says, comes up “every time discussions like this take place.”

Fleming felt a downtown would need a train station or commuter hub to work, but Lalmalani said he’s looking for more of a gathering place for residents, not so much a retail center.

“We can make it something unique and exciting for families to get together,” Lalmalani said. “It may not happen in four years, but it may happen in the next eight to 12 years. It is what residents want and we are here to serve the residents.”

Posted by NAI Hiffman | Filed Under General Business

Final preparations for 10th Annual Forecast; industrial leaders on tap for Jan. 24 event

January 10, 2012

As seen in RE Journals

The final preparations are being made by the event planners for the 10^th Annual Commercial Real Estate Forecast Event produced by Illinois Real Estate Journal and the Real Estate Publishing Group.

Following an hour plus for registration and networking, the Jan. 24 forecast event will kick off at 8:10 a.m. with a fireside chat between Chicago real estate legend Sam Zell, chairman of Equity Group Investments, and Debra Cafaro, chief executive officer of Ventas Inc.

During a 45-minute discussion, Zell and Cafaro are expected to cover a broad range of topics, from how the general economic, capital markets and political climates impact real estate to markets and property types Zell believes are emerging and/or returning.

“Sam Zell is one of the most colorful and sought after speakers who provides great insights into the world of commercial real estate,” said Michael Millar, the event organizer from Real Estate Communications Group. “We look forward to his perspective on the issues that will be most impactful in 2012 and beyond.”

The Annual Forecast Event is being held at the Marriott Chicago Downtown, 540 N. Michigan Ave. Registration is $99, $129 at the door, and can be completed online at www.rejournals.com/conferences or over the phone at 312-644-2804.

Among those who will be adding an industrial perspective, either on the general “state of the market” session or an industrial market breakout session include:

Len Caldeira, SIOR, Jones Lang LaSalle;
Steve Schnur, Duke Realty;
Don Schoenheider, Liberty Property Trust;
Chris Curtis, SIOR, Nugent Curtis Real Estate LLC;
Jim Dieter, SIOR, Cushman & Wakefield;
John Picchiotti, ProLogis;
Steve Connolly, NAI Hiffman; and
John Coleman, Newmark Knight Frank Epic.

Following the fireside chat and three general session panels, attendees will have the opportunity to participate in breakout sessions focused on market specialization. Breakouts are being held on the suburban and downtown office, industrial, investment, retail and multi-family markets. In total there will be nearly 50 industry professionals taking part as speakers or moderators of the sessions.

Posted by NAI Hiffman | Filed Under General Business

Dave Petersen Inducted into the Midwest Real Estate Hall of Fame

January 6, 2012

As seen in the Midwest Real Estate News

It didn’t take Dave Petersen long to earn the position of chief executive officer at Chicago’s NAI Hiffman; Petersen took over this spot before he reached his five-year anniversary at the brokerage.

And that is the sign of someone who has earned plenty of respect in the commercial real estate industry.

Petersen took over his new position from Dennis Hiffman, who had served as both chairman and chief executive office of NAI Hiffman since founding the company in 2000. It’s not easy to follow the company’s founder. But Hiffman himself has said that Petersen is the right person to tackle this challenge.

“David was a natural choice because of his strong execution skills, proven ability to lead and the trust level he has achieved with all our stakeholders,” Hiffman said in a written statement when Petersen’s promotion was announced. “It became apparent to both the operations leadership and our shareholders that we already had the person aboard who understood our culture and long-term goals.”

Petersen had already earned the trust of senior leadership at Hiffman. The more-than-28-year industry veteran had held the role of chief executive office of NAI Hiffman’s successful asset management group since 2006. In 2008, he assumed the additional role of chief operating officer of NAI Hiffman. It was while holding these roles, that Petersen showcased his leadership skills and his ability to craft innovative solutions to challenges.

Thanks in large part to Petersen’s skills, NAI Hiffman has grown dramatically in recent years. Crain’s Chicago Business ranks the brokerage as the largest property managment company in the Chicago market.

Before coming to NAI Hiffman, Petersen held positions with such big industry names as the Trammell Crow Company, Insignia/ESG and the Vantage Companies.

Outside of the industry, he doesn’t hesitate to volunteer his time. He serves on the boards for Covenant Harbor Foundation, North Park University School of Business Advisory and the Martin Avenue Retirement Village.

“Dave’s open-door style of leadership has won the respect of our employees, customers and shareholders and the real estate community at large,” said Michael Flynn, managing director of the office division of NAI Hiffman, in a written statement when Petersen was hired to his new position. “NAI Hiffman operates daily with the complete recognition that without the clients’ best interests being served, we would not exist. Dave fully understands and fosters this attitude among out employees.”

Posted by NAI Hiffman | Filed Under General Business

Valpo hires broker to sell old North Coast property

December 14, 2011

As seen in The Northwest Indiana Times

VALPARAISO | By this time next week, Valparaiso could be the owner of the North Coast Distributing property on Silhavy Road.

The city’s Redevelopment Commission received no bids for the property. The bids were due at 4 p.m. Wednesday and were to be opened at the commission’s meeting at 5:30. The minimum asking price was $4.7 million and did not include the Coastal Valley Water building at the front of the property, which North Coast is keeping.

The commission agreed to hire NAI Hiffman, of Oakbrook Terrace, Ill., one of six companies to submit proposals to serve as the real estate broker for the sale of the property. NAI Hiffman will receive a 5 percent commission on the sale of the property.

North Coast is building a new facility on Ind. 49 and expects to move into the new building in February. The commission agreed to buy the buildings and property, not including Coastal Valley, for $4 million Wednesday and will charge North Coast $1,000 a day in rent until it moves to the new site.

To pay for the purchase, the commission is using $2.1 million in its budget for the North Coast project and an additional $1.9 million left in the budget to develop a speculative industrial park. The closing on the property is expected to take place next week.

The commission also paid $800,000 to build the access road and extend water and sewer utilities to the new building and will pay $150,000 next year for a traffic signal at the Ind. 49 entrance to North Coast and the sheriff’s offices.

NAI will market the property for a year. If no buyer is found, the commission is expected to turn the property over to the city for use as the new public works department campus. In the meantime, the commission expects to receive about $70,000 in rent.

Posted by NAI Hiffman | Filed Under General Business