CHICAGO—David L. Liebman, a veteran industrial broker, has just joined Chicago-based Merit Partners, LLC, as managing broker. In one of his first assignments, Liebman will join the leasing team for the 1,500,000-square-foot, 21-acre, former Marshall Field's industrial campus at 4000 West Diversey Ave. on the northwest side of Chicago.
As previously reported in GlobeSt.com, Chicago-based 4K Diversey Partners, LLC recently closed a $10 million acquisition from Macy's Inc. of the campus. The new owners believe they can turn the property, which has two warehouses of about 71,000-square-feet and 100,000-square-feet and a 1.3 million-square-foot main building along Diversey, into a multi-use destination for manufacturers, distributers, warehouse users, retailers and call centers. Macy's shut down its operations there in 2008.
Merit Partners was founded by partners, Aaron Paris and Paul Fishbein, who also launched the 4K Diversey venture. Merit provides development, brokerage, investment, project management, asset repositioning, and asset management for its own portfolio and third parties.
“The opportunity to bring this unique campus to market is a challenge I welcome,” says Liebman. “The timing is in sync with our recovering economy.” Liebman will work on this assignment and also provide independent industrial property buyer and tenant representation plus industrial site acquisition, leasing, sale, and build-to-suit services to third parties.
Liebman, 59, began his real estate career in 1989 as an industrial broker at CBRE, where he earned the company's “Rookie of the Year” award in 1990. After 11 years at CB, he worked for 12 years with the industrial advisory group at Colliers International, specializing in the northeastern Illinois and southeastern Wisconsin markets. And prior to joining Merit, Liebman served as senior vice president of Op2mize, LLC, where he specialized in industrial brokerage, energy procurement, and sustainability initiatives. He also practiced law for five years after receiving a degree from the College of Law at DePaul University.
In 25 years Liebman has completed more than 300 transactions, with about 12,000,000-square-feet and worth more than $750 million, for such clients as Liberty Property Trust, ING Clarion, Clarion Realty Partners, WisPark LLC, CenterPoint Properties, US Robotics, Logistics Worldwide, Rand McNally Co., Fixture Hardware Co., Cole Wire and Cable Co., and Ivex Packing Corp.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
