MILWAUKEE—Avison Young announced this week that it has completed a 628,657-square-foot, three-building industrial portfolio sale-leaseback for Gehl Foods in Germantown, WI, a Milwaukee suburb. Avison Young 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, represented the ownership, Wind Point Partners, a private equity firm that owns Gehl Foods. Avison Young principals Brendan Kelly and Todd Heine also were involved in the transaction. The properties are currently 100% occupied by the global food services company, a leading producer of low acid aseptic dairy products. “Investors across the country continue to search for well-leased industrial assets tied to strong corporate tenants,” says Foster. “The sale-leaseback was an ideal disposition strategy, as it allowed the ownership to leverage its real estate holdings while maintaining these mission critical locations.” The buyer was the institutional fund advisor Angelo Gordon. Financial terms were not disclosed.

CHICAGO—Chicago-based Kass Management Services, a third-party property management and brokerage firm, has been retained by Four Corners Tavern Group, Sterling Bay and a number of private local investors to manage 16 rental communities comprising 302 units in Chicago and surrounding suburbs. The assignments, which include mixed-use properties, add to Kass Management's portfolio of 9,500 residential units and 600,000 square feet of commercial space throughout the Chicago area. The 16 properties range in size from two to 73 units. The buildings include: 1401 W. School St./3258 N. Southport Ave. – two residential units atop Schoolyard Tavern & Grill in Chicago's Lakeview neighborhood owned by Four Corners Tavern Group; 900-02 W. Armitage Ave. – six residential units in Chicago's Lincoln Park neighborhood owned by Sterling Bay; McGovern House, a 73-unit newly constructed rental community at 760 Central Ave. in Highland Park that was developed by Nexstep LLC.

OAKBROOK TERRACE, IL—Marcus & Millichap, has just completed the sale of Firethorne Apartments, a 72-unit apartment property located in St Charles, IL, according to Steven D. Weinstock, first vice president/regional manager/managing broker of the firm's Chicago-Oak Brook office. The asset sold for $8.28 million. Ryan D. Engle, an investment specialist in Marcus & Millichap's Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Andrean Angelov, also an investment specialist in Marcus & Millichap's Chicago Oak Brook office. The complex is located at 1350 Brook St. in St Charles, IL. The property consists of six 12-unit buildings and features a swimming pool, sundeck, tennis court, 72 garage spaces, ample open parking, and intercom security entry for each building. Each unit features a balcony or patio, fireplace, and in-unit washer/dryer.

BUILDING BLOCKS

CHICAGO—McShane Construction Co. has completed an on-time delivery of Clybourn 1200 – a mixed-use development of Brinshore-Michaels. The 84-unit property is on the corner of Clybourn Ave. and Division St. in the Old Town neighborhood of Chicago. The seven-story building, which offers mixed-income housing, is within walking distance to numerous shops, restaurants and entertainment options as well as the CTA Clark/Division Red Line Station. Tenants and customers can easily access to the Kennedy Expressway. Clybourn 1200 features 17,000 square feet of retail space on the ground floor, a 25,295 square foot secured indoor parking garage on the second floor, and five floors incorporating 84 mixed-income apartments. The development has numerous sustainable features such as a solar hot water system, low VOC products, permeable pavers and Energy Star lighting and appliances.

CHICAGO—The Opus Group has just completed a new 175,000-square-foot corporate headquarters for MC Machinery Systems, Inc. in Elk Grove Village. The two-story building features 50,000 square feet of office space, 75,000 square feet of warehouse and storage space and a 50,000-square-foot industrial machinery showroom to showcase the company's equipment and host customer walkthroughs. MC Machinery Systems develops, sells and supports seven different types of high-tech manufacturing equipment used primarily for metalworking and metal fabrication as a subsidiary of the global Mitsubishi Corp. “Our main motivator to build a new headquarters was our employees and customers,” says Patrick Simon, senior marketing and corporate planning manager, MC Machinery. “We wanted to provide them a new state-of-the-art place to come to work to everyday with updated technological resources that enable us to better serve our customers.”

NEWS & NOTABLES

CHICAGO—Daniel Wojnowski, Ph.D. has just joined Thornton Tomasetti, the international engineering firm, as a senior vice president in its Chicago office. A forensics professional with nearly 35 years of experience, Wojnowski will provide additional senior-level support to the firm's forensics practice and help grow its market share in the Midwest. Wojnowski specializes in commercial construction structural failures, construction accidents, site safety incident evaluations, agricultural structural failures and building code evaluations. He comes to Thornton Tomasetti after 29 years at Engineering Systems Inc. in Aurora, IL, where he was most recently a principal. A licensed professional engineer in 11 states, Wojnowski is also a certified residential building inspector and has completed a variety of OSHA safety certification courses.

DEALTRACKER

MILWAUKEE—Avison Young announced this week that it has completed a 628,657-square-foot, three-building industrial portfolio sale-leaseback for Gehl Foods in Germantown, WI, a Milwaukee suburb. Avison Young 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, represented the ownership, Wind Point Partners, a private equity firm that owns Gehl Foods. Avison Young principals Brendan Kelly and Todd Heine also were involved in the transaction. The properties are currently 100% occupied by the global food services company, a leading producer of low acid aseptic dairy products. “Investors across the country continue to search for well-leased industrial assets tied to strong corporate tenants,” says Foster. “The sale-leaseback was an ideal disposition strategy, as it allowed the ownership to leverage its real estate holdings while maintaining these mission critical locations.” The buyer was the institutional fund advisor Angelo Gordon. Financial terms were not disclosed.

CHICAGO—Chicago-based Kass Management Services, a third-party property management and brokerage firm, has been retained by Four Corners Tavern Group, Sterling Bay and a number of private local investors to manage 16 rental communities comprising 302 units in Chicago and surrounding suburbs. The assignments, which include mixed-use properties, add to Kass Management's portfolio of 9,500 residential units and 600,000 square feet of commercial space throughout the Chicago area. The 16 properties range in size from two to 73 units. The buildings include: 1401 W. School St./3258 N. Southport Ave. – two residential units atop Schoolyard Tavern & Grill in Chicago's Lakeview neighborhood owned by Four Corners Tavern Group; 900-02 W. Armitage Ave. – six residential units in Chicago's Lincoln Park neighborhood owned by Sterling Bay; McGovern House, a 73-unit newly constructed rental community at 760 Central Ave. in Highland Park that was developed by Nexstep LLC.

OAKBROOK TERRACE, IL—Marcus & Millichap, has just completed the sale of Firethorne Apartments, a 72-unit apartment property located in St Charles, IL, according to Steven D. Weinstock, first vice president/regional manager/managing broker of the firm's Chicago-Oak Brook office. The asset sold for $8.28 million. Ryan D. Engle, an investment specialist in Marcus & Millichap's Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Andrean Angelov, also an investment specialist in Marcus & Millichap's Chicago Oak Brook office. The complex is located at 1350 Brook St. in St Charles, IL. The property consists of six 12-unit buildings and features a swimming pool, sundeck, tennis court, 72 garage spaces, ample open parking, and intercom security entry for each building. Each unit features a balcony or patio, fireplace, and in-unit washer/dryer.

BUILDING BLOCKS

CHICAGO—McShane Construction Co. has completed an on-time delivery of Clybourn 1200 – a mixed-use development of Brinshore-Michaels. The 84-unit property is on the corner of Clybourn Ave. and Division St. in the Old Town neighborhood of Chicago. The seven-story building, which offers mixed-income housing, is within walking distance to numerous shops, restaurants and entertainment options as well as the CTA Clark/Division Red Line Station. Tenants and customers can easily access to the Kennedy Expressway. Clybourn 1200 features 17,000 square feet of retail space on the ground floor, a 25,295 square foot secured indoor parking garage on the second floor, and five floors incorporating 84 mixed-income apartments. The development has numerous sustainable features such as a solar hot water system, low VOC products, permeable pavers and Energy Star lighting and appliances.

CHICAGO—The Opus Group has just completed a new 175,000-square-foot corporate headquarters for MC Machinery Systems, Inc. in Elk Grove Village. The two-story building features 50,000 square feet of office space, 75,000 square feet of warehouse and storage space and a 50,000-square-foot industrial machinery showroom to showcase the company's equipment and host customer walkthroughs. MC Machinery Systems develops, sells and supports seven different types of high-tech manufacturing equipment used primarily for metalworking and metal fabrication as a subsidiary of the global Mitsubishi Corp. “Our main motivator to build a new headquarters was our employees and customers,” says Patrick Simon, senior marketing and corporate planning manager, MC Machinery. “We wanted to provide them a new state-of-the-art place to come to work to everyday with updated technological resources that enable us to better serve our customers.”