WeekLEE News - May 4-8, 2015
LEE IN THE NEWS! (Week Review)
Gilbert Group latest to join brokerage network with ChainLinks membership: Columbus Business First
Check out our new website! www.lee-associates.com/illinois
FORGET CRE SUCCESS, FOCUS ON THESE THINGS: The News Funnel
Spec Industrial Development Comes to Iowa: DES MOINES, IA—Industrial development took off several years ago in many markets across the US, and has now started to spread to secondary ones that have seen little construction since the onset of the recession. GlobeSt.com
US Drives Y-O-Y Global Gains: RCA: NEW YORK CITY—Fueled partly by a record quarterly high in cross-border investment, US commercial property sales volume was up 49% year over year for the first quarter, Real Capital Analytics said Thursday. GlobeSt.com
Overseas Investors Accelerating CRE Property Price Gains: Increasing Foreign Investment Dollars Could Continue Driving the Trend CoStar News
Job growth regains steam, keeping Fed rate hike on track: WASHINGTON (Reuters) - U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 percent, signs of a pick-up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year. Yahoo Finance-Reuters
Industrial Market Reaching Peak: CHICAGO—Like many of its counterparts across the US, the Chicago region’s market for big box facilities really hit its stride in the first quarter, and the robust demand could set the stage for large scale construction later this year and into 2016. GlobeSt.com
Civic Federation rips 'unrealistic' Rauner budget: In a scathing report being released this morning, the Civic Federation, a Chicago watchdog group largely funded with corporate cash, says the new governor's $31.5 billion operating budget does not add up and asserts that it could leave the state in worse shape than it was under former Gov. Pat Quinn. Crain's Chicago Business
Top Real Estate Developers Weigh In on the Chicago Housing Market: A panel of real estate developers convened Wednesday morning to share gut reactions on the Chicago market’s opportunities and challenges assembled by the Homebuilder’s Association of Greater Chicago (HBAGC). Chicago Magazine
Recent LEE Transactions
Lee & Associates completes a 20,680 SF industrial lease on behalf of RREEF Management LLC
ITASCA, Ill. —May 5, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a 20,680 square-foot industrial lease located at 905 Irving Park Road in Itasca, Ill.
Principal, Jeff Janda, SIOR and Senior Vice President, Mike Plumb represented the landlord, RREEF Management LLC. The tenant, T&C Gymnastics LLC was represented by David Pernice of Transwestern.
Lee & Associates completes 31,306 SF industrial lease on behalf of Venture One
ROMEOVILLE, Ill. —May 7, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a 31,306 square-foot industrial lease located at 1225 Lakeside Dr. in Romeoville, Ill.
Principals, Jeff Galante and Terry Grapenthin of Lee & Associates of Illinois represented the landlord, Venture One. The tenant, American Inks & Coatings Co., was represented by Dan Smolensky of Modal Group.
Lee & Associates completes 28,000 SF industrial lease in Elgin, Ill.
ELGIN, Ill. —May 5, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed an industrial lease for a 28,000-square-foot space located at 2590 Alft Lane in Elgin, Ill.
Steve Bass, senior vice president of the Lee & Associates’ Illinois office represented the tenant, Argos Technologies, a supplier of scientific equipment and supplies to the research community in their expansion and relocation. The landlord, Elgin Property Development was represented by Kenneth Franzese and John Cassidy, principals of Lee & Associates of Illinois.
Lee & Associates of IL negotiates 7,500 SF truck terminal sale in South Holland
SOUTH HOLLAND, Ill.—May 5, 2015— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $2.8 million sales transaction for a 7,500 SF truck terminal on 15.95 acres of land located at 141 W. 168th St. in South Holland, Ill.
Principals, Terry Grapenthin, Jeff Galante and Walter Murphy of Lee & Associates’ Illinois office, represented the seller. Kip Hennelly of Patrick Commercial represented the buyer, Greenix LLC, an organic pest control company.
Lee & Associates of IL negotiate sale of 7.3 acres in Sturtevant, WI
STURTEVANT, Wis.—May 5, 2015— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a sales transaction for a 7.3 acre commercial land site located at 9502 Washington Ave. in Sturtevant, Wis.
James Kettinger, associate, of Lee & Associates’ Illinois office, represented the seller, Prescient Asset Management/FDIC. The buyer in the transaction was Trout Slayer Worldwide, LLC.
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, 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.