Press Release brought to you by Lee & Associates

WeekLEE News July 13-17, 2015

07/17/2015

LEE IN THE NEWS! (Week Review)  

Lee & Associates closes sale of industrial buildings in Romeoville, Glendale Heights: Chicago Industrial Properties & Midwestern Real Estate

Lee & Associates announce June transactions, closes five industrial sales in IllinoisChicago Industrial Properties

From the community: Lee & Associates Illinois Promotes Michael Plumb to Principal:  Chicago Tribune

Lee & Associates of Illinois promotes Michael Plumb to principal: Midwest Real Estate News

National News

Is Cash Looking Better Than Commercial Property?:  NEW YORK CITY—A new chart from Situs RERC illustrates trends in investor preferences over the past eight years. Of note is what the chart says about views of investment alternatives as the second quarter of this year ended: bonds rose slightly in the rankings, cash rose sharply and commercial real estate continued a sharp downward curve.  GlobeSt.com

What to Know About Today’s Chinese Investors:  IRVINE, CA—Chinese investment represents an extremely significant part of the US real estate economy. Chinese buyers invested nearly $5 billion in US real estate in 2014, the second-highest amount invested in that sector by a foreign country, Auction.com LLC’s EVP Rick Sharga tells GlobeSt.com.  GlobeSt.com
Already Sitting On Billions of Uninvested Dollars, Fund Managers Back Off Capital Raising Efforts:  Fewer Private Real Estate Funds Closing as Managers Have Record Amounts of Dry Powder  Costar News

Robust Leasing, Absorption Drive CRE Price Appreciation:  CRE Prices Resume Steady Upward Climb in May Following April Slowdown  Costar News

Hyperlocal Crowdfunding Lowers Risks for Investors:  Crowdfunding is steadily gaining a foothold within the commercial real estate investment landscape, with over 100 national platforms currently operating and new ones launching each month.  National Real Estate Investor

5 Facts That Will Help You Win Any Negotiation:  Forbes

Local News

Kraft Heinz headquarters to move to Chicago:  Kraft Heinz will move one of its headquarters from north suburban Northfield to downtown Chicago early next year, making it the latest company to march from the 'burbs to the bright lights and big city in hopes of attracting diverse young workers.  Chicago Tribune

BLACKSTONE GROUP CLOSES ON $378M RIVER NORTH POINT SALE: The Blackstone Group's purchase of River Point North was finalized late last month.  Bisnow.com

What’s Buying and Selling in the Midwest?:  SOUTHFIELD, MI—In the Midwest commercial real estate marketplace, acquisitions continue to pick up steam. In response to both regional dynamics and larger national forces, the office and industrial sectors have been particularly active. GlobeSt.com

Junk-bond stigma is costing Chicago:  (Bloomberg) — Chicago is paying a price for the $20 billion pension-fund shortfall that pushed it into junk-bond territory. Crain's Chicago Business

10 THINGS TO DO:  Thodos Dance Chicago, the return of Kinky Boots and more.  Crain's Chicago Business

Recent LEE Transactions

MELROSE PARK, Ill.— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a sales transaction for a 20,500-square-foot industrial warehouse building located at 2000 Anson in Melrose Park.

“Whenever a property like 2000 Anson comes to market, it usually doesn’t stay on the market long.   There is always a need for small properties with outside storage for trucks or fleet vehicles in the West Cook submarket.” said Ryan Kehoe of Lee.

Ryan Kehoe, vice president at Lee & Associates’ Illinois, represented the seller, Raccanto Foods.  Matthew Rasche of Patrick Commercial represented the buyer, Andrew Distribution, a leading regional provider of transportation and distribution services to newspapers.

ADDISON, Ill.— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed an industrial building sales transaction for a 11,800-square-foot industrial building located at 310 La Londe Ave. in Addison.  Jay Farnam, senior associate, at Lee & Associates’ Illinois office, represented the seller, Kurt Flinker.  Mike Antonelli of Brown Commercial Group represented the buyer, Benchmark Property Solutions LLC.

AURORA, Ill.— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a +/- 18.85 acres land sales transaction located at Sequoia & Sullivan Roads in Aurora.   Principals, Jeffrey Janda, SIOR, James Planey, SIOR, and Mike Anrowich at Lee & Associates’ Illinois office, represented the seller, CenterPoint Properties.  Jim Estus, SIOR of Colliers represented the buyer, Seefried Industrial Properties. 

ELGIN, Ill. —Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has negotiated a lease for a 18,595 square-foot industrial space located at 2820 Galvin Drive in Elgin.  John Sharpe, principal and Steve Bass, vice president at Lee Illinois represented the landlord, Stockbridge Capital Group.  The tenant, Red Door Spas/Elizabeth Arden, was represented by Brian Carroll of Newmark Grubb Knight Frank.

KENOSHA, Wis. —Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has negotiated a lease for a 5,160-square-foot industrial space located at 6606 34th Ave. in Kenosha.  James Kettinger, associate at Lee Illinois represented the landlord, Yutka Storage LLC.  The tenant in the transaction was Always Towing & Recovery Inc.

SAUK VILLAGE, Ill. —Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has negotiated a lease for a 259,000-square-foot industrial space located at 21700 Mark Collins Dr. in Sauk Village.  Principals Jim Planey, SIOR and Jeffrey Janda, SIOR of Lee Illinois represented the landlord, Global Logistic Properties.  The tenant, Warehouse Specialist, Inc., was represented by Jerry Sullivan with Paine Wetzel.

HOBART, Ind. —Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has negotiated a lease renewal for a 62,800-square-foot manufacturing industrial space located at 1701 NorthWind Pkwy. in Hobart, Ind.  Principal, Walter Murphy of Lee Illinois represented the tenant, Vision Integrated Graphics Group, Inc., a company specializing in marketing solutions for growing businesses.  The landlord, Indiana Land Becknell Investors, LLC was represented by Scott Duerkop of Jones Lang LaSalle.

ALSIP, Ill.— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a sales transaction for a 23,663-square-foot industrial building located at 4851 W. 115th St. in Alsip, Ill.   Walter Murphy, principal of Lee & Associates’ Illinois office, represented the seller, KT Advancetec, Inc.  The buyer was represented by Greg Buczek of Homesmart Realty Group.

ITASCA, Ill.— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a sales transaction for a 59,433-square-foot industrial building located at 1500 W Bryn Mawr Ave. in Itasca.   Jeffrey Janda, SIOR, principal at Lee & Associates of Illinois represented the buyer, Phoenix Converting, LLC, a leading provider of turnkey packaging management and global sourcing solutions.  Doug Pilcher and Noel Liston of Darwin represented the seller, ProLogis, Inc. 

About Us

Celebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, and Wisconsin. With almost 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. 

07/17/2015 - 09:00

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