CHICAGO—Global tech giant Aeris recently signed an 18,132-square-foot new long-term lease at 435 N. LaSalle St. in Chicago. The company took occupancy of the new space in September. Corby Marx, senior vice president and Evan Djikas, executive vice president, both with Colliers International's Chicago-based office advisory group, represented the Santa Clara, CA-based firm in its negotiations. As reported in GlobeSt.com, the tech sector has been a key player in maintaining the momentum of the Chicago office market. “Chicago's flourishing tech community made it a logical choice for us to launch our U.S. expansion here,” says Marc Jones, chairman and chief executive officer of Aeris. “The property we now occupy is in the heart of the River North market and increases our visibility in Chicago's tech epicenter.” Property ownership was represented by Andrea Saewitz and Benjamin Cleveland of Cushman & Wakefield.

MINNEAPOLIS—Onward Investors has closed on the sale of City West Financial Center and 55 West Financial Center, two Twin Cities suburban office buildings. The properties, which have a combined occupancy of 93%, were sold to Dakota REIT for an undisclosed amount. Onward Investors acquires value-add properties in recovering markets throughout the US. City West Financial Center, a 57,191-square-foot office building located at 6500 City West Parkway in Eden Prairie; and 55 West Financial Center, a 51,019-square-foot office building located at 10405 Sixth Av. N. in Plymouth, MN, are among a five-part commercial real estate portfolio purchased by Onward in September 2014.

ITASCA, IL—Craig Nadborne, senior managing director of Bradford Allen Realty Services, recently completed a lease expansion and extension on behalf of Ajinomoto. The company will lease an additional 7,159 square feet at 1300 N. Arlington Heights Rd. where it currently occupies 13,476 square feet. The Japanese food and chemical corporation moved to the 108,000-square-foot class A building, part of the Hamilton Lakes Office Park, back in 2012 from the O'Hare market where they still maintain an office. The company will take occupancy of its additional space in February.

CHICAGO—The vacancy rate in Chicago's suburban O'Hare office market, now near its lowest level since 2001, has continued to fall, and investors are getting interested. On behalf of Northwestern Mutual Life Co., JLL Capital Markets recently announced that it had completed the sale of the Pointe at 1100 N. Arlington Heights Rd. in suburban Itasca. Captive Resources purchased the 148,988-square-foot class A office asset for $9 million. Managing director James Postweiler and executive vice president Peter Harwood led the JLL team on the deal. Jason Simon, principal at Collier's International, represented Captive Resources in the sale.

CHICAGO—Holliday Fenoglio Fowler, LP has just closed the recapitalization and arranged financing for River North Park, a 400-unit, 24-story apartment tower at 320 W. Illinois St. in Chicago's River North neighborhood. HFF represented Waterton in the recapitalization of the property. Angelo, Gordon & Co., L.P. purchased a majority interest in the asset for an undisclosed amount. HFF also arranged a short-term, floating-rate acquisition loan on behalf of the new owner with a national bank. The HFF investment sales team representing Waterton was led by executive managing director Matthew Lawton along with managing director Sean Fogarty. HFF's debt placement team representing Angelo, Gordon & Co., LP was led by managing director Stephen Skok.

BUILDING BLOCKS

MINNEAPOLIS—Modern-day law firms need more than just office space in a marquee location. They also need space that sparks creativity, collaboration and collegiality among employees, while inspiring confidence and trust in the firm among its clients. That was the thinking at the Halunen Law firm, which recently unveiled its new office on the 16^th floor of IDS Center. “Most law offices are very similar in design, with a lot of closed-off spaces and not a lot of space for collaboration,” says Clayton Halunen, founder and senior partner. “But we do a lot of litigation work here, so we all work in teams.” The firm knocked out walls and cubicles to create more roaming room. The idea is that meeting on such a neutral field makes everyone involved feel more relaxed and participative, says Halunen. Rich Bonnin, design principal, interiors, at the Minneapolis office of HGA Architects and Engineers, handled the makeover.

CHICAGO—All the talk about renewing US infrastructure could have big implications for both Chicago and the Midwest in general. Today GlobeSt.com spoke with Walter Kemmsies, an infrastructure expert for JLL, a conversation we will continue next week. One of his hopes is that new infrastructure spending doesn't all go towards roadbuilding. Politicians tend to love building new roads and resurfacing existing ones, largely because that work is so visible. However, projects which help freight move across the country and allow its eventual export get done in areas, such as rail yards, ports and canals, that are largely hidden from view. And as Kemmsies says, “people vote; freight doesn't.” But renovating that hidden infrastructure, such as the system of locks which helps barges move down the Mississippi, could provide a big boost to Midwest exporters, many of whom use the Port of New Orleans. Kemmsies is hoping to see enabling legislation that will allow public-private partnerships to tackle these jobs, as well as enough funding for the Army Corps of Engineers to revitalize the Mississippi. What he has in mind is something similar to the vast expansion of inland ports done by companies like BNSF in Kansas City. Much of that work, however, has served the import-dependent market for consumer goods. What remains to be seen is if the US will commit to doing what's necessary to reach its potential for exports.

NEWS & NOTABLES

CHICAGO—Holliday Fenoglio Fowler, L.P. has just hired Patrick Walker as a director in its Chicago office. Walker will focus on commercial real estate finance with an emphasis on structured finance transactions such as joint venture equity raises, mezzanine loans and recapitalization strategies. He joins HFF from Jefferies LoanCore where he was a vice president responsible for real estate debt originations for office, retail, multi-housing, hotel, self-storage and industrial properties in the central US. He also spent more than eight years with Royal Bank of Scotland in Chicago.

DEALTRACKER

CHICAGO—Global tech giant Aeris recently signed an 18,132-square-foot new long-term lease at 435 N. LaSalle St. in Chicago. The company took occupancy of the new space in September. Corby Marx, senior vice president and Evan Djikas, executive vice president, both with Colliers International's Chicago-based office advisory group, represented the Santa Clara, CA-based firm in its negotiations. As reported in GlobeSt.com, the tech sector has been a key player in maintaining the momentum of the Chicago office market. “Chicago's flourishing tech community made it a logical choice for us to launch our U.S. expansion here,” says Marc Jones, chairman and chief executive officer of Aeris. “The property we now occupy is in the heart of the River North market and increases our visibility in Chicago's tech epicenter.” Property ownership was represented by Andrea Saewitz and Benjamin Cleveland of Cushman & Wakefield.

MINNEAPOLIS—Onward Investors has closed on the sale of City West Financial Center and 55 West Financial Center, two Twin Cities suburban office buildings. The properties, which have a combined occupancy of 93%, were sold to Dakota REIT for an undisclosed amount. Onward Investors acquires value-add properties in recovering markets throughout the US. City West Financial Center, a 57,191-square-foot office building located at 6500 City West Parkway in Eden Prairie; and 55 West Financial Center, a 51,019-square-foot office building located at 10405 Sixth Av. N. in Plymouth, MN, are among a five-part commercial real estate portfolio purchased by Onward in September 2014.

ITASCA, IL—Craig Nadborne, senior managing director of Bradford Allen Realty Services, recently completed a lease expansion and extension on behalf of Ajinomoto. The company will lease an additional 7,159 square feet at 1300 N. Arlington Heights Rd. where it currently occupies 13,476 square feet. The Japanese food and chemical corporation moved to the 108,000-square-foot class A building, part of the Hamilton Lakes Office Park, back in 2012 from the O'Hare market where they still maintain an office. The company will take occupancy of its additional space in February.

CHICAGO—The vacancy rate in Chicago's suburban O'Hare office market, now near its lowest level since 2001, has continued to fall, and investors are getting interested. On behalf of Northwestern Mutual Life Co., JLL Capital Markets recently announced that it had completed the sale of the Pointe at 1100 N. Arlington Heights Rd. in suburban Itasca. Captive Resources purchased the 148,988-square-foot class A office asset for $9 million. Managing director James Postweiler and executive vice president Peter Harwood led the JLL team on the deal. Jason Simon, principal at Collier's International, represented Captive Resources in the sale.

CHICAGO—Holliday Fenoglio Fowler, LP has just closed the recapitalization and arranged financing for River North Park, a 400-unit, 24-story apartment tower at 320 W. Illinois St. in Chicago's River North neighborhood. HFF represented Waterton in the recapitalization of the property. Angelo, Gordon & Co., L.P. purchased a majority interest in the asset for an undisclosed amount. HFF also arranged a short-term, floating-rate acquisition loan on behalf of the new owner with a national bank. The HFF investment sales team representing Waterton was led by executive managing director Matthew Lawton along with managing director Sean Fogarty. HFF's debt placement team representing Angelo, Gordon & Co., LP was led by managing director Stephen Skok.

BUILDING BLOCKS

MINNEAPOLIS—Modern-day law firms need more than just office space in a marquee location. They also need space that sparks creativity, collaboration and collegiality among employees, while inspiring confidence and trust in the firm among its clients. That was the thinking at the Halunen Law firm, which recently unveiled its new office on the 16^th floor of IDS Center. “Most law offices are very similar in design, with a lot of closed-off spaces and not a lot of space for collaboration,” says Clayton Halunen, founder and senior partner. “But we do a lot of litigation work here, so we all work in teams.” The firm knocked out walls and cubicles to create more roaming room. The idea is that meeting on such a neutral field makes everyone involved feel more relaxed and participative, says Halunen. Rich Bonnin, design principal, interiors, at the Minneapolis office of HGA Architects and Engineers, handled the makeover.