Press Release brought to you by Lee & Associates

WeekLEE News March 30- April 3, 2015

04/03/2015

LEE IN THE NEWS! (Week Review)  

Lee suits up:  Hudson Reporter

Maines Paper and Food Service signs lease for industrial facility in Hanover Park: Chicago Industrial Properties

Lee & Associates Arranges Sale of 52,000 SF Industrial Building in Burr Ridge, Ill.:  Heartland RE Business

Lee & Associates announce March transactions:  Chicago Industrial Properties

Lee & Associates Adds NewsRoom Service to Its Website:  Lee & Associates uses The News Funnel’s technology to add customized news feeds to their site.  The News Funnel Press Release

2014 Chicago Winners:  Costar Power Brokers

National News

Volatility’s a Theme Again for 2015:  NEW YORK CITY—Investment in US commercial real estate this year is expected to be underpinned by two key themes: the advanced state of the cycle and the global macroeconomic backdrop, “which is funneling capital into US assets,” write TIAA-CREF’s Martha Peyton and Edward F. Pierzak.  GlobeSt.com

Bubbles May Pop if Interest Rates Shift:  IRVINE, CA—A low-interest-rate environment typically results in higher—and often inflated—asset values, so some markets across the country are at risk for volatility if interest rates rise, Colliers International’s EVP Jereme Snyder tells GlobeSt.com exclusively.  GlobeSt.com

Hiring slows, unemployment stands at 5.5 percent:  (AP) — The weakening U.S. economy spilled into the job market in March as employers added only 126,000 jobs, the fewest since December 2013, snapping a streak of 12 straight months of gains above 200,000.  Crain's Chicago Business

Local News

Blackstone cashes out of Itasca Westin for $27 million:  The Blackstone Group has sold a Westin Hotel in Itasca for $27 million, about four years after taking it over through a larger distressed deal.  Crain's Chicago Real Estate Daily

Ferrara to expand in Bolingbrook:  (AP) — Ferrara Candy Co. will build a 250,000-square-foot packaging facility in Bolingbrook.  Crain's Chicago Real Estate Daily

Motorola is said unable to find buyer after sale effort:  SCHAUMBURG  -- Motorola Solutions Inc. has failed to find a buyer after seeking to drum up interest from private-equity funds and large industrial companies, people with knowledge of the matter said.  Daily Herald Business Ledger

10 THINGS TO DO:  Whether it's a gala event, a once-in-a-lifetime concert or a hidden gem of a play, we're here to up your cultural (and fun) IQ. Here are top picks for your cultural calendar for the coming week, the coming month and beyond.  Crain's Chicago Business

Meridian to Complete 219,858 SF Build-to-Suit Project in Chicago: CHICAGO — Scannell Properties has selected Meridian Design Build to design and construct a 219,858-square-foot automated package sorting and distribution center in Chicago. The property is for a provider of global shipping and information services.  RE Business Online

Recent LEE Transactions

CHICAGO, Ill. —March 30, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a lease for a 180,417-square-foot industrial space located at 1401 N. Cicero in Chicago. Principal, Brian Vanosky, Senior Associate Jay Farnam and Associate Tim McCahill of Lee Illinois represented the tenant, LBP Manufacturing, a manufacturer of consumer-preferred, sustainable, on-the-go packaging.  The landlord, ML Realty Partners, was represented by Larry Goldwasser and Colin Green of Cushman and Wakefield.

ELGIN, Ill. —March 30, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a six year lease for a 56,049-square-foot industrial pace located at 2750 Alft Lane in Elgin.  Principals, John Cassidy and Kenneth Franzese represented the tenant, Great Lakes Technologies, a quality consumer power tools and products source for homeowners and professional.  The landlord, TA Realty, represented themselves.

ADDISON, Ill.—March 30, 2015— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a 16,250-square-foot industrial building located at 360 S. Lombard in Addison, Ill.  Jay Farnam, senior associate of Lee & Associates’ Illinois office, represented the buyer, Apna Foods, Inc.  John Hamilton of CBRE represented the seller, Jaken Company.

LIBERTYVILLE, Ill. —March 30, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a lease for a 5,212-square-foot office space located at 950 Technology Way in Libertyville.  Senior Vice President, Mike Plumb of Lee & Associates of Illinois represented the tenant, Granite Gear, LLC, an award-winning manufacturer of cutting edge outdoor and lifestyle products.  The landlord, EverWest Real Estate Partners was represented by Jason Streepy and Jason Wurtz of NAI Hiffman.

CHICAGO, Ill. —March 30, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a lease for a 34,596-square-foot industrial space located at 650 Schmidt Road in Bolingbrook. Principals, Jeff Galante and Terry Grapenthin of Lee & Associates of Illinois represented the tenant ELAN Industries, a design and builder of electronic controls for original equipment manufacturers.  The landlord, ML Realty Partners, was also represented by Lee & Associates of Illinois.

GARY, Ind.—March 30, 2015— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $2.2 million sales transaction for a 196,000 SF industrial building located at 4000 E. 7th Ave. in Gary, Ind.  Walter Murphy, principal of Lee & Associates’ Illinois office, represented the seller, Four C Holdings, LLC.  Ed Wabick of Paine Wetzel represented the buyer, RJRJ, LLC.

BURR RIDGE, Ill.—March 30, 2015— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $4.150 million sales transaction for a 52,000-square-foot truck terminal industrial building located at 7545 S. Madison in Burr Ridge.  Justin Fierz, principal, Brian Vanosky, principal and Tim McCahill, associate of Lee & Associates’ Illinois office, represented the seller, RAB Properties, Inc.  Kip Hennelly of Patrick Commercial Real Estate represented the buyer.

ITASCA, Ill. —March 31, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a 5 year lease for a 6,000-square-foot office space located at 1070 W. Ardmore in Itasca.  Steve Bass, vice president of Lee & Associates of IL represented the tenant, Media Monkey Marketing, LLC, an internet marketing and consulting company.  The landlord was represented by Principals Chris Nelson and Jeff Janda of Lee & Associates of IL.

  

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 52 locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, 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. 

04/03/2015 - 09:00

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