CHICAGO—Geoffrey M. Kasselman, a Chicago-based executive managing director for Newmark Grubb Knight Frank, recently joined the Society of Industrial and Office Realtors' board of directors as 2017 SIOR Global President. The induction took place during the SIOR Fall World Conference in New York City. Following the official swearing in ceremony, Kasselman led SIOR's new board of directors in ringing the opening bell at the New York Stock Exchange. “Becoming SIOR Global President is a rare opportunity to view the CRE business from a unique lens on a global stage,” said Kasselman, who leads NGKF's North American Industrial practice. “The leverage and support of NGKF afforded me the foundation to accept this tremendous distinction and for that I am supremely grateful.”

CHICAGO—Krysta Bavlsik, Chicago-based executive vice president of MBRE Healthcare, was recently named in Real Estate Forum's 50 Under 40. The publication gives the honor to those making great strides in commercial real estate and comprise the industry's next set of leaders. Bavlsik joined MBRE's Investment Services in 2010 and moved to MBRE Healthcare in 2012, where she has played a pivotal role in the growth of the firm. MBRE Healthcare and its independent affiliate fund manager, ROA Holdings, form a full-service real estate entity that acquires, develops, leases, and manages healthcare facilities across the US.

DEALTRACKER

GRAND RAPIDS, MI—NAI Wisinski West Michigan represented both sides of a recent deal that will bring a family-owned manufacturer's representative agency to Grand Rapids.Shankman & Associates, Inc., will move from 3380 Chicago Dr. in Hudsonville, MI, to a 6,426 square foot building at 4635 N. Breton Crt. SE in Grand Rapids. This will allow the agency's customers to gain quick access to to Gerald R. Ford International Airport and the region's major freeways. Shankman & Associates offers coverage of OH, IN, KY, MI, WV, IL and WI for national brands in the consumer packaged goods industry.

KANSAS CITY—Capital One recently provided a $27.3 million balance sheet loan for a multifamily property in Kansas City, MO, owned by a fund advised by Sentinel Real Estate. Seth Wiener, a New York-based vice president in Capital One's Commercial Real Estate Group, originated the transaction, along with Joel Willard, a Washington, DC-based senior vice president at Capital One Multifamily Finance. The adjustable-rate five-year term loan was secured by Carrington Place at Shoal Creek, a 270-unit, class A luxury garden-style apartment community that the fund purchased in January 2016.

INDIANAPOLIS—Hanley Investment Group Real Estate Advisors, a Corona Del Mar, CA-based brokerage and advisory firm, recently negotiated the sale of Raceway Commons, a 32,748-square-foot multi-tenant retail in Indianapolis. The purchase price was $7.9 million. Executive vice president Eric Wohl represented the buyer, a private investor from Franklin Lakes, NJ, and the seller, Baceline Investments from Denver, CO. Built in 2003, the neighborhood shopping center had 94% occupancy with 95% of the occupied square footage leased to national or regional tenants at the time of the sale including Panera Bread, Jackson Hewitt, Sprint, Great Clips, Cold Stone Creamery, and Sun Tan City.

BY THE NUMBERS

CHICAGO—Chicago climbed to number nine on CBRE's annual Tech-Thirty list, which analyzes the 30 leading technology markets in the US and Canada in terms of high-tech job growth. The region was ranked number 13 on last year's list, and from 2013 to 2015, its tech jobs expanded 21.1%, up from a 17.1% increase from 2012-2014. From 2013 to 2015 tech sector jobs in Chicago accounted for 24.8% of all new office jobs. “Tech firms are attracted to Chicago as they are able to tap into this powerful labor source at a much more afforadble cost than in costal markets with a comparable workforce,” said Brad Serot, executive vice president with CBRE. “As rents are significantly lower in Chicago for quality space, it will continue to get a first-look from tech firms looking to expand or start new ventures.”

NEWS & NOTABLES

CHICAGO—Geoffrey M. Kasselman, a Chicago-based executive managing director for Newmark Grubb Knight Frank, recently joined the Society of Industrial and Office Realtors' board of directors as 2017 SIOR Global President. The induction took place during the SIOR Fall World Conference in New York City. Following the official swearing in ceremony, Kasselman led SIOR's new board of directors in ringing the opening bell at the New York Stock Exchange. “Becoming SIOR Global President is a rare opportunity to view the CRE business from a unique lens on a global stage,” said Kasselman, who leads NGKF's North American Industrial practice. “The leverage and support of NGKF afforded me the foundation to accept this tremendous distinction and for that I am supremely grateful.”

CHICAGO—Krysta Bavlsik, Chicago-based executive vice president of MBRE Healthcare, was recently named in Real Estate Forum's 50 Under 40. The publication gives the honor to those making great strides in commercial real estate and comprise the industry's next set of leaders. Bavlsik joined MBRE's Investment Services in 2010 and moved to MBRE Healthcare in 2012, where she has played a pivotal role in the growth of the firm. MBRE Healthcare and its independent affiliate fund manager, ROA Holdings, form a full-service real estate entity that acquires, develops, leases, and manages healthcare facilities across the US.

DEALTRACKER

GRAND RAPIDS, MI—NAI Wisinski West Michigan represented both sides of a recent deal that will bring a family-owned manufacturer's representative agency to Grand Rapids.Shankman & Associates, Inc., will move from 3380 Chicago Dr. in Hudsonville, MI, to a 6,426 square foot building at 4635 N. Breton Crt. SE in Grand Rapids. This will allow the agency's customers to gain quick access to to Gerald R. Ford International Airport and the region's major freeways. Shankman & Associates offers coverage of OH, IN, KY, MI, WV, IL and WI for national brands in the consumer packaged goods industry.

KANSAS CITY—Capital One recently provided a $27.3 million balance sheet loan for a multifamily property in Kansas City, MO, owned by a fund advised by Sentinel Real Estate. Seth Wiener, a New York-based vice president in Capital One's Commercial Real Estate Group, originated the transaction, along with Joel Willard, a Washington, DC-based senior vice president at Capital One Multifamily Finance. The adjustable-rate five-year term loan was secured by Carrington Place at Shoal Creek, a 270-unit, class A luxury garden-style apartment community that the fund purchased in January 2016.

INDIANAPOLIS—Hanley Investment Group Real Estate Advisors, a Corona Del Mar, CA-based brokerage and advisory firm, recently negotiated the sale of Raceway Commons, a 32,748-square-foot multi-tenant retail in Indianapolis. The purchase price was $7.9 million. Executive vice president Eric Wohl represented the buyer, a private investor from Franklin Lakes, NJ, and the seller, Baceline Investments from Denver, CO. Built in 2003, the neighborhood shopping center had 94% occupancy with 95% of the occupied square footage leased to national or regional tenants at the time of the sale including Panera Bread, Jackson Hewitt, Sprint, Great Clips, Cold Stone Creamery, and Sun Tan City.