CHICAGO—MB Real Estate has just promoted Eileen Flynn to chief financial officer. In this capacity, she will handle financial operations for all third-party managed assets, including commercial office, healthcare, and government properties. Flynn has worked in MBRE's accounting services department for more than 18 years, serving most recently as senior vice president, managing director of accounting services and corporate controller. MBRE also recently appointed her to its executive committee. “Eileen has played an important role in overseeing financial operations for MBRE's entire portfolio and has offered crucial insights into how we can function more efficiently,” says Peter Ricker, chairman and chief executive officer of MBRE. “As chief financial officer, Eileen will bolster efforts to maximize profitability by helping our business units better plan for and execute in the future.”

JOLIET, NEW LENOX, IL—Cushman & Wakefield has been named exclusive agent for Cherry Hill Business Park, Northern Builders Inc.'s 500-acre industrial development in Joliet and New Lenox. With 280 acres of pad-ready sites immediately available, the project offers capacity for up to 5.4 million square feet of additional product, including speculative and build-to-suit opportunities. Cushman & Wakefield's Jason West, Sean Henrick, Michael Magliano and Doug Pilcher, based in the firm's Rosemont, IL., office, are heading the assignment. The team currently is marketing a two-phase speculative development. The first building, Cherry Hill 14, totals 171,394 square feet and is slated for delivery in late 2017. Located on just over nine acres at 2401 West Haven Ave in New Lenox, it features I-80 visibility and 32' clear height. Phase Two development includes a 202,582-square-foot building with similar specifications and heavy trailer parking.

DEALTRACKER

DES PLAINES, IL—Gebrüder Weiss, Inc. has just leased 77,450 square feet of warehouse space at ML Realty Partners' 251 Wille Rd. in suburban Des Plaines. “ML Realty Partners is thrilled to welcome one of Europe's leading transportation and logistics companies to our building,” says Patrick Shannon, vice president. “We are delighted that the property's strong location benefits our client's U.S. operations.” The property's 30' clear height and location close to several major highways are among the factors that helped Gebrüder Weiss choose this location for their growth. “We are happy to work with ML Realty Partners as we expand our network of air and sea freight locations worldwide,” says Daniela Hendricks, chief executive officer of Gebrüder Weiss. Jack Brennan of CBRE represented Gebrüder Weiss and Tom Rodeno and Matthew Stauber of Colliers represented ML Realty Partners in the transaction.

BUILDING BLOCKS

CHICAGO—Mortenson Construction has been chosen to transform a 1962 landmark building by architect Edward Durrell Stone into the new home for the University of Chicago's Harris School of Public Policy. Working from designs by Farr Associates and interior consultant Woodhouse Tinucci, Mortenson began construction in April on the renovation and expansion of the renamed Keller Center, which will welcome students in January, 2019. “The University of Chicago is creating a true architectural showpiece focused on academic excellence and environmental sustainability,” says Mortenson's Vladimir Stevanovic, who leads the project. “The Keller Center sets a new standard in adaptive reuse that emphasizes innovation, excellence, community and sustainability.” The new center will preserve the original building's key features, but incorporate sustainable technology. The University and Mortenson want to attain both LEED Platinum and the Living Building Challenge Material Petal Certification. Doing so would make it the only building on campus and the only building in Chicago of this size to be LBC-certified.

BY THE NUMBERS

CHICAGO—Available retail anchor space in the Chicago area is at a record high, according to a recent report from CBRE. But much of the new space hitting the market is quality class A space, which has attracted users at a faster rate than past years, and driven rental rates up as retailers vie for prime space. Currently, the Chicago market has 10.8 million square feet of retail anchor space available, well above the previous high of 10 million square feet in 2009. The total number of spaces available is at 218, up from 165 at this time last year. The main reason for the increased availability has been the wave of bankruptcies and liquidations from retailers like Sports Authority and HH Gregg that have swept across the market, says Joe Parrott, senior vice president with CBRE.

NEWS & NOTABLES

CHICAGO—MB Real Estate has just promoted Eileen Flynn to chief financial officer. In this capacity, she will handle financial operations for all third-party managed assets, including commercial office, healthcare, and government properties. Flynn has worked in MBRE's accounting services department for more than 18 years, serving most recently as senior vice president, managing director of accounting services and corporate controller. MBRE also recently appointed her to its executive committee. “Eileen has played an important role in overseeing financial operations for MBRE's entire portfolio and has offered crucial insights into how we can function more efficiently,” says Peter Ricker, chairman and chief executive officer of MBRE. “As chief financial officer, Eileen will bolster efforts to maximize profitability by helping our business units better plan for and execute in the future.”

JOLIET, NEW LENOX, IL—Cushman & Wakefield has been named exclusive agent for Cherry Hill Business Park, Northern Builders Inc.'s 500-acre industrial development in Joliet and New Lenox. With 280 acres of pad-ready sites immediately available, the project offers capacity for up to 5.4 million square feet of additional product, including speculative and build-to-suit opportunities. Cushman & Wakefield's Jason West, Sean Henrick, Michael Magliano and Doug Pilcher, based in the firm's Rosemont, IL., office, are heading the assignment. The team currently is marketing a two-phase speculative development. The first building, Cherry Hill 14, totals 171,394 square feet and is slated for delivery in late 2017. Located on just over nine acres at 2401 West Haven Ave in New Lenox, it features I-80 visibility and 32' clear height. Phase Two development includes a 202,582-square-foot building with similar specifications and heavy trailer parking.

DEALTRACKER

DES PLAINES, IL—Gebrüder Weiss, Inc. has just leased 77,450 square feet of warehouse space at ML Realty Partners' 251 Wille Rd. in suburban Des Plaines. “ML Realty Partners is thrilled to welcome one of Europe's leading transportation and logistics companies to our building,” says Patrick Shannon, vice president. “We are delighted that the property's strong location benefits our client's U.S. operations.” The property's 30' clear height and location close to several major highways are among the factors that helped Gebrüder Weiss choose this location for their growth. “We are happy to work with ML Realty Partners as we expand our network of air and sea freight locations worldwide,” says Daniela Hendricks, chief executive officer of Gebrüder Weiss. Jack Brennan of CBRE represented Gebrüder Weiss and Tom Rodeno and Matthew Stauber of Colliers represented ML Realty Partners in the transaction.

BUILDING BLOCKS

CHICAGO—Mortenson Construction has been chosen to transform a 1962 landmark building by architect Edward Durrell Stone into the new home for the University of Chicago's Harris School of Public Policy. Working from designs by Farr Associates and interior consultant Woodhouse Tinucci, Mortenson began construction in April on the renovation and expansion of the renamed Keller Center, which will welcome students in January, 2019. “The University of Chicago is creating a true architectural showpiece focused on academic excellence and environmental sustainability,” says Mortenson's Vladimir Stevanovic, who leads the project. “The Keller Center sets a new standard in adaptive reuse that emphasizes innovation, excellence, community and sustainability.” The new center will preserve the original building's key features, but incorporate sustainable technology. The University and Mortenson want to attain both LEED Platinum and the Living Building Challenge Material Petal Certification. Doing so would make it the only building on campus and the only building in Chicago of this size to be LBC-certified.