NAIOP Award winners announced

November 19, 2010

NAI Hiffman took home two awards at the NAIOP Awards in Chicago last night.

The firm received the Property Management Firm of the Year and the Industrial Transaction of the Year for a deal between True Value Company and Mirvac Industrial Trust  in Harvey, Ill. The deal,  negotiated by John Cash and David Haigh, was for a 10-year lease renewal for the full 1,194,650-square-feet of space at  308 S. Division Street. e tenant with a transaction value of $26 million.  The deal was valued at $26 million.

The other multiple winner on the night was Hines. The developer received Office Development of the Year for 300 N. LaSalle and Green Development of the Year for the same project.

The complete list of winners:

Office Development of the Year
300 N. LaSalle, Chicago, IL
Developer: Hines

Industrial Build-to-Suit of the Year
3M Regional Distribution Center, Park 88 – 1250 Macom Drive, DeKalb, IL
Developer: Venture One Real Estate, LLC / Clayco Realty Group

Industrial Speculative Development of the Year
Crossroads 5, 801 N. Schmidt Road, Romeoville, IL
Developer: Duke Realty Corporation

Industrial Redevelopment of the Year
Alsip Distribution Center #1, 5100 W. 123rd Street, Alsip, IL
Developer: ProLogis

Office Redevelopment of the Year
Woodfield Pointe Office Center, 231 N. Martingale Road, Schaumburg, IL
Developer: Keystone Property Group

Green Development of the Year
300 N. LaSalle, Chicago, IL
Developer: Hines

Broker Transaction of the Year – Downtown Office
United Airlines, Inc. at Willis Tower at 233 S. Wacker Drive, Chicago, IL
Tenant/Buyer Brokers: Molly Carroll, David Matthews, Hugh Murphy, Meredith O’Connor, Steve Stratton, Jones Lang LaSalle
Landlord/Seller Broker: Mike Kaz, U.S. Equities Realty

Broker Transaction of the Year – Suburban Office
Career Education Corporation at Woodfield Pointe Office Center at 231 N. Martingale Road, Schaumburg, IL
Tenant/Buyer Brokers: Chad Freese, Mark Pasquella, David Saad, James Whalen, CB Richard Ellis, Inc.
Landlord/Seller Broker: Jack Reardon, formerly with CB Richard Ellis, Inc.

Broker Transaction of the Year – Industrial
True Value Company Distribution Center at 308 S. Division Street, Harvard, IL
Landlord/Seller Brokers: John Cash, David Haigh, NAI Hiffman

Broker Transaction of the Year – Office Investment
180 N. LaSalle, Chicago, IL
Brokers: Jeffrey Bramson, Jaime Fink, Kenneth Glomb, Holliday Fenoglio Fowler

Broker Transaction of the Year – Industrial Investment
IDI/JP Morgan Industrial Portfolio, 150 E. Crossroad Parkway/553 Joliet Road, Bolingbrook, IL and 1550 Central Avenue, Roselle, IL
Brokers: Jeffrey Devine, Steven Disse, Jeffrey Kahan, Colliers International

Architectural Firm of the Year
IA Interior Architects

General Contractor of the Year
McShane Construction Company

Industrial Developer of the Year
CenterPoint Properties

Property Management Firm of the Year
NAI Hiffman Asset Management, LLC

From: REJournals.com

Posted by NAI Hiffman | Filed Under Asset Management, Awards and Honors, Industrial, Media Coverage 

Dave Petersen: Property management success all about listening

October 12, 2010

By Dan Rafter

It’s overstating it to call property management the savior of commercial real estate brokerages. But in today’s challenging commercial environment, property management services have provided struggling brokerages with a reliable source of income. For many companies, property management has made the recession and its slow recovery at least a little more bearable.

Midwest Real Estate News recently spoke with Dave Petersen, chief executive officer of the asset management company of Chicago’s NAI Hiffman. He had some illuminating information to share about succeeding in the property management business today.

Midwest Real Estate News: How important is property management today?
Dave Petersen: Aside from the obvious fact that there are reoccurring fee revenues that come from the property management business to help contribute to the operating bottom line of any company, there are some other benefits to property management. When you are working in property management, you are creating other access to revenue streams. In the product that you lease and manage, other transactions occur. You are creating deal flow within that asset-managed portfolio. You are providing your leasing brokers an additional opportunity to call for business as they are out trying to fill space in buildings. You are creating construction-management revenues. By being in that business in today’s economy, or by being asked to engage with lenders or CMBS folks that have problem assets in place, you are in line for the dispositions of the assets that are under that management base.
Lastly by being in the property management business, whether on the brokerage side of the business or the representation-of-product side, you are at the table with tenants. Tenants today are gold in the eyes of investor clients. Nothing helps operating costs more so than being able to have a good tenant in place. Read more

Posted by NAI Hiffman | Filed Under Asset Management, Media Coverage 

Recipe for failure: Doing the same thing that you’ve always done

September 28, 2010

By Dan Rafter

The working world today is one of change. You can’t succeed if you don’t adapt to changing technology or business models. Commercial real estate is no exception.

Dave Petersen, chief operating officer of the property management division of Chicago’s NAI Hiffman, mentioned this to me earlier this week. We were talking about the recession and its slow recovery, of course. We were talking, too, about how important it is to keep clients happy in these rough economic times.

Petersen pointed to the ever-increasing speed of business. If he gets an e-mail from a client, that client expects an answer in minutes. It doesn’t matter if Petersen has to do some intensive research to find that answer: Anything longer than 30 minutes? That’s too long.

Petersen wasn’t complaining. He was stating a fact.

“If you are sitting around and saying that this is the way we have always done it, you are doomed to fail in this business,” Petersen said. “It’s a constant changing of how we are doing things. Today, it’s all about speed and communication.”

Source: REJournals.com

Posted by NAI Hiffman | Filed Under Asset Management, Media Coverage 

NAI Hiffman hires office broker Jack Reardon

September 20, 2010

Jack Reardon, a veteran broker who specializes in representing office landlords in the northwest suburbs, has joined NAI Hiffman as a senior vice-president. Mr. Reardon, 47, spent more than a decade with CB Richard Ellis Inc. before jumping to Cushman & Wakefield Inc. in February. He was recruited to Cushman by Aaron Block, who was ousted as head of the Chicago region this spring after less than a year on the job. At Oakbrook Terrace-based NAI Hiffman, Mr. Reardon will focus on the north and northwest suburbs and the O’Hare market as part of a team led by NAI Hiffman Managing Director Michael Flynn. A local spokeswoman for Cushman declines to comment.

Link to the original article in Crain’s Chicago Business

Posted by NAI Hiffman | Filed Under General Business, Media Coverage, New Hires/Promotions, Office 

NAI Hiffman to manage 925k s.f. industrial portfolio

August 10, 2010

High Street Equity Advisors, LLC, a Boston, Massachusetts-based real estate investment firm, has awarded the exclusive leasing and management of its new Chicago industrial portfolio to NAI Hiffman, an Oakbrook Terrace, Ill.-based real estate services provider.

The 925,170-square-foot portfolio, consisting of eight buildings in Chicago’s Central DuPage, O’Hare and Northwest Cook submarkets, was recently purchased from TA Associates Realty (“TA Realty”), also of Boston. High Street currently owns three additional assets in the Chicago area.

NAI Hiffman’s leasing team includes Brian Colson, Mark Moran, Eric Tresslar and Irv Malik, all with the firm’s Industrial Services Group. The property management team will be led by Gail Vermejan, Doug Krahnke and Cori Bedford with NAI Hiffman’s Asset Management Group. The combined team will focus on the execution of a collaborative plan to retain tenants and continue cost-savings and tenant accommodations through the property management services.

“Being given the responsibility for a portfolio of this size is a tremendous opportunity and we are very pleased to start providing our integrated services to High Street,” said David Petersen, COO of NAI Hiffman, in  a released statement. “We are extremely pleased that High Street saw the value of our combined management and leasing platform, which creates a unified delivery of services.”

Source: REJournals.com

Posted by NAI Hiffman | Filed Under Asset Management, General Business, Industrial, Lease, Media Coverage 

Davis Companies and Arthur Goldner tap NAI Hiffman for leasing assignment

July 16, 2010

The Davis Companies, in a joint venture with Arthur Goldner & Associates, is pleased to announce the acquisition of The Crossings, located at 1420 and 1520 Kensington Road in Oak Brook, Illinois. The 17-acre property features twin, Class A, three-story office buildings consisting of 303,510 square feet.

In addition to the highly appointed grounds and institutional quality interior finishes, the buildings are designed with three-story atrium lobbies, interior landscaping, fountains, an on-site day care facility, full service sundry shop and on-site café and fitness center.  Situated just south of Interstate 88 and Jorie Boulevard, near the McDonald’s campus and the Oakbrook Center Mall. The Crossings is presently 66 percent leased.

The new ownership, DIV Oak Brook LLC, is a joint venture between The Davis Companies, a Boston-based private real estate investment firm, and Arthur Goldner & Associates, a fully integrated real estate operating company with headquarters in Northbrook, Ill. Having initially acquired the discounted first mortgage loan on the property from CW Capital in January 2010, the new ownership has recapitalized the asset since taking title in May, making available ample funds for tenant improvements, leasing commissions and significant base building improvements.

Additionally, the ownership has established an on-site property management office, which will continue to be headed up by Debi Turner, a 14-year management professional who has been managing The Crossings for the last four years. “With deep tenant relationships and seasoned property management skills, Debi is a key member of our team as we reposition The Crossings to become the recognized choice for quality, value and service,” said Arthur Goldner, president of Arthur Goldner & Associates, which is now providing the management services for the property.

As part of its efforts to reposition The Crossings, DIV Oak Brook has selected NAI Hiffman to provide landlord leasing services. “With over 105,000 square feet available, our near term goal is to assist in efforts to polish up the asset, convert the available suites into ‘market ready’ spaces and to effectively communicate our message to the tenant community that we are the best value alternative in Oak Brook. We have an above average window line and a flexible floor plate, making us a strong candidate for tenants ranging in size from 1,500 to 50,000 square feet. We also have highway visible exterior signage on Route 83, with its 65,000 cars per day traffic count, to offer larger tenants. The new owners are well capitalized, nimble, creative and ready to make an impact. We have all the tools we need to be successful.” said Daniel O’Neill, executive vice president of NAI Hiffman. The NAI Hiffman team also includes Jim Adler, Pat Kiefer and Garrett Schultz.

Source: REJournals.com

Posted by NAI Hiffman | Filed Under Media Coverage, Office 

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