CHICAGO—Chicago-based Lexington Homes has hired Michelle S. Bendien has joined the firm as director of sales. Bendien brings 13 years of experience in residential real estate management and sales. She will oversee all sales managers and associates at Lexington's nine communities. Bendien started as a sales agent at Neumann Homes and moved up to regional sales trainer. She also held a key management role at Wilcox Development Group where she opened and managed multiple communities from the ground up. Bendien was recognized by the Home Builders Association of Greater Chicago as one of the industry's best and received its Diamond Award multiple years in a row. Most recently Bendien worked as a real estate broker for Belgravia Realty in Chicago. Lexington broke ground on four new developments in 2016 and plans to open five new communities in 2017.

CHICAGO—Louise Barry has just joined CBRE's advisory and transaction management team in Chicago as director of international transaction management reporting into the LMA. Barry has more than nine years of experience with CBRE in Chicago, Sydney, and London. She has also held an account leadership role for a global financial services client with a team of over 50 people globally. Barry will serve as a key integrator of the international transaction management program, optimizing the delivery of transactions outside of North America and ensuring alignment with clients' global portfolio strategies. She will be working with a transaction team led by Chicago-based executive vice presidents Mark Pasquella and Chris Reynolds.

DEALTRACKER

MILWAUKEE—Baceline Investments, LLC, a boutique private equity real estate company with holdings throughout the Central US, has just acquired two retail centers located in the North Shore of Milwaukee for a total of $2.8 million. Point Plaza is a 13,840-square-foot shopping center situated along Appleton Ave. in northwest Milwaukee at 8333 W. Appleton Ave. Baceline purchased the property from R&D Point Plaza, LLC for $900,000. Glendale Square consists of 17,880-square-feet, and is a multi-tenant retail center in the heart of Glendale, at the corner of N. Green Bay Ave. and W. Green Tree Rd. Baceline purchased Glendale Square for $1.9 million from Buckmann, LLC. Both sellers are WI-based companies. Combined, the properties are currently 86% occupied.

CHICAGO—One Oakbrook Terrace, the 161,373-square-foot property at the corner of Butterfield Rd. and 22nd St. in Oakbrook Terrace, is experiencing organic tenant growth. AIMCO, a Denver-based REIT, has expanded its tenancy to 4,129 square feet. NAI Hiffman vice president, Brian Edgerton, and executive vice president, Michael Van Zandt, represented the owner in the transaction. AIMCO was represented by Matt Schiffler and Brendan Fisher with Cresa Partners. Furthermore, 3C Payment USA, a point of sale technology company based in Luxembourg, expanding its lease to 5,357-square-feet. The new leases brought the occupancy level to 93%. percent. Amenities at the building include a recently renovated lobby, conference center, and a full-service deli and tenant lounge.

INDIANAPOLIS—Breg, Inc. recently signed a 108,525-square-foot lease at 2835 Fortune Circle West in Indianapolis. Carlsbad, CA-based Breg provides sports medicine products and services that advance orthopedic patient care. Savills Studley represented Breg in the transaction. “After an extensive site search, we were able to identify and negotiate favorable terms at this recently constructed industrial facility,” says corporate managing director Jon Azulay. “In close proximity to Indianapolis International Airport and multiple interstate highways, this space corresponds perfectly with Breg's corporate culture and workplace strategy.” Azulay and Bruce McConnell, Savills Studley senior managing director and Midwest industrial team lead, oversaw the tenant representation team for this transaction. Exeter Property Group owns Fortune Circle West and was represented by Andy Brown in this transaction.

CHANNAHON, IL—Industrial Outdoor Ventures, a real estate investment company specializing in the acquisition, development and re-development of industrial service facilities, has picked up an 18.9 acre truck and container yard located at 23264 Youngs Rd. in Channahon, IL. The asking price was $8 million and the seller was Cavalea Continental Freight, Inc. Built by Cavalea in 2006, the fenced, secured property was used as an intermodal container storage facility and includes a maintenance shop and office building. “This property is a high-quality asset that provides instant access to I-55 and I-80 and close proximity to the BNSF Intermodal in Elwood, IL, and the UP Intermodal in Joliet, IL,” says IOV chief executive officer Tom Barbera. “Given the overall attractiveness of the property we expect to render an attractive yield.” JLL's Dan McGillicuddy and Steve Ostrowski represented the seller in the transaction. IOV has retained Josh Hearne of Cawley Chicago to market the property.

CHICAGO—Dayton Street Partners has sold its 43,000-square-foot distribution facility at 920 W. Pershing Rd. in Chicago to a private investor for $4.1 million. As reported in GlobeSt.com, Dayton acquired the antiquated manufacturing building it in 2015, and transformed it into a functional, modern warehouse and distribution facility. Leasing wrapped up last year with the signing of a 24,000-square-foot lease to Trane US and a 19,000-square-foot lease to Stanley Steemer. The building capitalizes on the demand for “last mile distribution” properties created by the explosion of e-commerce and same day delivery service, and is one of several that Dayton has done in Chicago. “We have seen a dynamic shift in the market in the last few years as same day delivery has become a critical part – a necessary part – of online retailers' service delivery contract with consumers,” says Dayton Street principal Howard Wedren. “To remain competitive in this ultra-competitive world these businesses are scrambling to find well-located, urban facilities with direct access to their customers.”

BY THE NUMBERS

INDIANAPOLIS—Indianapolis has quietly become a competitive technology hub, according to JLL. Since 2010, the population in Indianapolis' CBD has grown 92%, and tech job growth grew nearly 7% in 2015 alone. Compared to 45 US tech markets recently analyzed by JLL, Indianapolis ranked #1 for lowest wage costs, office rental rates and housing. Software giants like Salesforce, Oracle and Paycom continue to attract college graduates. Salesforce had one of the largest leasing deals of 2016, with plans to occupy more than 220,000 square feet and hire 800 more employees.

NEWS & NOTABLES

CHICAGO—Chicago-based Lexington Homes has hired Michelle S. Bendien has joined the firm as director of sales. Bendien brings 13 years of experience in residential real estate management and sales. She will oversee all sales managers and associates at Lexington's nine communities. Bendien started as a sales agent at Neumann Homes and moved up to regional sales trainer. She also held a key management role at Wilcox Development Group where she opened and managed multiple communities from the ground up. Bendien was recognized by the Home Builders Association of Greater Chicago as one of the industry's best and received its Diamond Award multiple years in a row. Most recently Bendien worked as a real estate broker for Belgravia Realty in Chicago. Lexington broke ground on four new developments in 2016 and plans to open five new communities in 2017.

CHICAGO—Louise Barry has just joined CBRE's advisory and transaction management team in Chicago as director of international transaction management reporting into the LMA. Barry has more than nine years of experience with CBRE in Chicago, Sydney, and London. She has also held an account leadership role for a global financial services client with a team of over 50 people globally. Barry will serve as a key integrator of the international transaction management program, optimizing the delivery of transactions outside of North America and ensuring alignment with clients' global portfolio strategies. She will be working with a transaction team led by Chicago-based executive vice presidents Mark Pasquella and Chris Reynolds.

DEALTRACKER

MILWAUKEE—Baceline Investments, LLC, a boutique private equity real estate company with holdings throughout the Central US, has just acquired two retail centers located in the North Shore of Milwaukee for a total of $2.8 million. Point Plaza is a 13,840-square-foot shopping center situated along Appleton Ave. in northwest Milwaukee at 8333 W. Appleton Ave. Baceline purchased the property from R&D Point Plaza, LLC for $900,000. Glendale Square consists of 17,880-square-feet, and is a multi-tenant retail center in the heart of Glendale, at the corner of N. Green Bay Ave. and W. Green Tree Rd. Baceline purchased Glendale Square for $1.9 million from Buckmann, LLC. Both sellers are WI-based companies. Combined, the properties are currently 86% occupied.

CHICAGO—One Oakbrook Terrace, the 161,373-square-foot property at the corner of Butterfield Rd. and 22nd St. in Oakbrook Terrace, is experiencing organic tenant growth. AIMCO, a Denver-based REIT, has expanded its tenancy to 4,129 square feet. NAI Hiffman vice president, Brian Edgerton, and executive vice president, Michael Van Zandt, represented the owner in the transaction. AIMCO was represented by Matt Schiffler and Brendan Fisher with Cresa Partners. Furthermore, 3C Payment USA, a point of sale technology company based in Luxembourg, expanding its lease to 5,357-square-feet. The new leases brought the occupancy level to 93%. percent. Amenities at the building include a recently renovated lobby, conference center, and a full-service deli and tenant lounge.

INDIANAPOLIS—Breg, Inc. recently signed a 108,525-square-foot lease at 2835 Fortune Circle West in Indianapolis. Carlsbad, CA-based Breg provides sports medicine products and services that advance orthopedic patient care. Savills Studley represented Breg in the transaction. “After an extensive site search, we were able to identify and negotiate favorable terms at this recently constructed industrial facility,” says corporate managing director Jon Azulay. “In close proximity to Indianapolis International Airport and multiple interstate highways, this space corresponds perfectly with Breg's corporate culture and workplace strategy.” Azulay and Bruce McConnell, Savills Studley senior managing director and Midwest industrial team lead, oversaw the tenant representation team for this transaction. Exeter Property Group owns Fortune Circle West and was represented by Andy Brown in this transaction.

CHANNAHON, IL—Industrial Outdoor Ventures, a real estate investment company specializing in the acquisition, development and re-development of industrial service facilities, has picked up an 18.9 acre truck and container yard located at 23264 Youngs Rd. in Channahon, IL. The asking price was $8 million and the seller was Cavalea Continental Freight, Inc. Built by Cavalea in 2006, the fenced, secured property was used as an intermodal container storage facility and includes a maintenance shop and office building. “This property is a high-quality asset that provides instant access to I-55 and I-80 and close proximity to the BNSF Intermodal in Elwood, IL, and the UP Intermodal in Joliet, IL,” says IOV chief executive officer Tom Barbera. “Given the overall attractiveness of the property we expect to render an attractive yield.” JLL's Dan McGillicuddy and Steve Ostrowski represented the seller in the transaction. IOV has retained Josh Hearne of Cawley Chicago to market the property.

CHICAGO—Dayton Street Partners has sold its 43,000-square-foot distribution facility at 920 W. Pershing Rd. in Chicago to a private investor for $4.1 million. As reported in GlobeSt.com, Dayton acquired the antiquated manufacturing building it in 2015, and transformed it into a functional, modern warehouse and distribution facility. Leasing wrapped up last year with the signing of a 24,000-square-foot lease to Trane US and a 19,000-square-foot lease to Stanley Steemer. The building capitalizes on the demand for “last mile distribution” properties created by the explosion of e-commerce and same day delivery service, and is one of several that Dayton has done in Chicago. “We have seen a dynamic shift in the market in the last few years as same day delivery has become a critical part – a necessary part – of online retailers' service delivery contract with consumers,” says Dayton Street principal Howard Wedren. “To remain competitive in this ultra-competitive world these businesses are scrambling to find well-located, urban facilities with direct access to their customers.”