CHICAGO–CBRE has promoted Dan Persa to senior associate within the firm's advisory and transactions services, office tenant representation group. Persa joined CBRE in 2014 and specializes in providing high level transaction advisory services for corporations and institutions across the Chicagoland area. Some of his notable clients include: Northwestern University, Glassdoor, Nitel and Athletico. “This achievement is a testament to Dan's diligent work ethic, relentless discipline to learn and overall charismatic personality which have allowed him to excel within this business in a very short amount of time,” says Jamie Georgas, managing director, CBRE Chicago. “He is recognized as one of the rising stars within this organization.” Persa was honored with the CBRE Chicago regional rookie award in 2015. Prior to joining the company, he worked for Duke Realty.

DEALTRACKER

CHICAGO—Cushman & Wakefield's capital markets group in Chicago recently completed two retail transactions. In the first transaction, an affiliate of Klaff Realty LP closed the $6.52 million sale of a freestanding, single tenant, Bank of America absolute net ground lease in suburban Skokie, to a private buyer. The property is a rare two-branch relocation that consolidates two high-deposit banking centers into a single new construction prototype. The tenant has a 15-year lease term with 10% increases every five years, and five subsequent five-year renewal options. Nicholas Kanich, director of capital markets for C&W in Chicago, represented the seller. C&W has also closed the $2 million sale of a 1.22-acre parcel on Chicago's southwest side that the buyer will redevelop into a retail shopping center. The land, most recently home to a Bank of America branch, is located at 5501 S. Kedzie Ave., at the southeast corner of 55^th St. and Kedzie in Chicago's Gage Park neighborhood. The area is traveled by more than 54,000 vehicles per day, and more than 62,000 people live within a mile of the site. Kanich represented both the buyer and the seller, 5501 S Kedzie LLC, managed by Sedgwick Development, in the transaction.

ST. LOUIS—Jennings Storage Solutions, LLC recently sold its self-storage facility located at 8319 Jennings Station Rd. in Jennings, MO, a suburb of St. Louis. Store Here Self Storage purchased the property. JLL managing directors Steve Mellon and Brian Somoza represented the seller. As reported in GlobeSt.com, the self-storage sector has displayed remarkable growth in occupancy and rents for several years, and investors have been snapping up many of these properties. “Located at a major retail intersection in a growing community, this property is positioned to benefit from strong surrounding demographics and excellent exposure,” says Mellon. “The facility's state-of-the-art design provided Store Here Self Storage with a turnkey opportunity to acquire a high-potential self-storage property.” Constructed in 1985, the 64,315 square foot property was converted to self-storage in 2016.

CHICAGO—Avison Young has been awarded the exclusive sale listing for a 93,059 square foot, two building industrial portfolio in Northbrook, IL, part of Chicago's north suburban market. Principals Erik Foster and Mike Wilson, both based in the company's Chicago office and members of the firm's national industrial capital markets group, will represent the owner, an institutional industrial real estate investor. The properties are currently 100% leased. The portfolio includes 720-730 Landwehr Dr., a 66,912-square-foot building, and 305-311 Era Dr., a 26,147-square-foot building. Among the tenants are business furniture distributor Office Designs; point-of-sale data equipment provider Datamax; and meetings and conference' specialist Edge ShowTek. “This portfolio offers investors fully-leased, multi-tenant buildings in Chicago's strong north suburban market,” says Foster. “The tenants have specific requirements that these assets fulfill, making this a stable long-term investment.”