COLUMBUS—Newmark Knight Frank Valuation & Advisory, LLC has just Rob Vodinelic hired to serve as senior managing director and market leader for the firm's valuation and advisory group in OH, IN and KY. Based in Columbus, he will focus on growing the firm's V&A platform, expand current client relationships, driving new business development, and recruiting new appraisal professionals. Vodinelic will also prepare and review appraisal reports on a diverse spectrum of property types. He was a founding leader of Cushman & Wakefield's valuation and advisory practice in OH, and spent several years based in their New York headquarters. Vodinelic relocated to Columbus in 2002, where he provided valuation services on a wide variety of property types, including office, retail, industrial, multifamily, special use assets, medical facilities, and complex mixed-use developments.

CHICAGO—Cushman & Wakefield has grown its suburban team by recruiting Steve LaKind as executive director. LaKind, a 31-year industry veteran, focuses on Chicago's suburban office market as well as national portfolio clients. With the Cushman team, he will focus on providing tenant representation services to high-growth companies in Chicago's suburban markets. He has spent the past 23 years at Savills Studley, and has managed transactions for clients such as PSAV, Markel Insurance, ZS Associates, Valent BioSciences, National Louis University, Feralloy Corp., Appraisal Institute, and Perkins Coie. “Commercial real estate is in a phase shift, and Cushman & Wakefield understands how to deliver full-service client results during this period of change,” says LaKind. “Forward-looking insight, abundant broker resources, and a dedicated, experienced leadership team drew me to the firm.”

INDIANAPOLIS—One of the more significant office properties in this suburban market is getting a makeover. Holliday Fenoglio Fowler, LP has just secured financing for Meridian Mark I and II, a 383,977-square-foot, two-building office complex in the community of Carmel, IN. The HFF team worked on behalf of the borrower, Zeller Realty Group, to secure the floating-rate loan through Prime Finance. The financing has allowed ZRG to kick-off a plan to reimage and rebrand Meridian Mark. The company will add a state-of-the art conference center, high-end fitness facility, collaborative tenant lounge and transform the lobbies into bright modern spaces. The properties are located at 116th and Meridian, the “Main and Main” in Carmel's prestigious Meridian Corridor. This location is proximate to IU Health North Hospital and I-465 north of downtown Indianapolis. The HFF debt placement team representing the borrower included senior director Ken Martin.

DEALTRACKER

CHICAGO—Avison Young has completed the sale of a 93,903-square-foot health-system-anchored medical office building on Chicago's North Shore on behalf of the seller, Franklin Partners, a Chicago-based investment firm. The buyer was Chicago-based developer and owner J. Emil Anderson & Sons, Co. The Carriage Point Medical Complex, located at 101 Waukegan Ave. in Lake Bluff, IL, is 100% leased to several regional health care providers. Avison Young principals Erik Foster and Mike Wilson, both members of the firm's national healthcare capital markets group, worked in conjunction with Avison Young principal Tim Henry to market the asset for the seller. Henry is a retail specialist working within the Chicago market and nationally. “Franklin Partners completed an extensive building renovation over the last 24 months to enhance the use and perception of the asset,” says Wilson. “With new leases to Fresenius Medical and Illinois Bone & Joint, along with several North Shore University Health System specialists in place, the facility is extremely stable considering its location and accessibility to the North Shore.”

BY THE NUMBERS

CHICAGO—Chicago ranks seventh on the list of the world's largest commercial real estate investment markets, with the its stock of investable assets standing at $300 billion, according to the latest research from CBRE. It is the fourth largest market in the US, behind New York, Los Angeles and San Francisco. “Chicago continues to be an attractive opportunity for local, national and international investors, due to its diverse economy, strong growth prospects, highly educated workforce and collection of trophy assets,” says Blake Johnson, executive vice president of CBRE. “The market draws top talent from a very healthy university system, including such institutions as Northwestern University and the University of Chicago, and has added 48,000 new office-using jobs since 2011. This has resulted in an extremely active and growing market, which supports one of the most diversified economies in the country.”

NEWS & NOTABLES

COLUMBUS—Newmark Knight Frank Valuation & Advisory, LLC has just Rob Vodinelic hired to serve as senior managing director and market leader for the firm's valuation and advisory group in OH, IN and KY. Based in Columbus, he will focus on growing the firm's V&A platform, expand current client relationships, driving new business development, and recruiting new appraisal professionals. Vodinelic will also prepare and review appraisal reports on a diverse spectrum of property types. He was a founding leader of Cushman & Wakefield's valuation and advisory practice in OH, and spent several years based in their New York headquarters. Vodinelic relocated to Columbus in 2002, where he provided valuation services on a wide variety of property types, including office, retail, industrial, multifamily, special use assets, medical facilities, and complex mixed-use developments.

CHICAGO—Cushman & Wakefield has grown its suburban team by recruiting Steve LaKind as executive director. LaKind, a 31-year industry veteran, focuses on Chicago's suburban office market as well as national portfolio clients. With the Cushman team, he will focus on providing tenant representation services to high-growth companies in Chicago's suburban markets. He has spent the past 23 years at Savills Studley, and has managed transactions for clients such as PSAV, Markel Insurance, ZS Associates, Valent BioSciences, National Louis University, Feralloy Corp., Appraisal Institute, and Perkins Coie. “Commercial real estate is in a phase shift, and Cushman & Wakefield understands how to deliver full-service client results during this period of change,” says LaKind. “Forward-looking insight, abundant broker resources, and a dedicated, experienced leadership team drew me to the firm.”

INDIANAPOLIS—One of the more significant office properties in this suburban market is getting a makeover. Holliday Fenoglio Fowler, LP has just secured financing for Meridian Mark I and II, a 383,977-square-foot, two-building office complex in the community of Carmel, IN. The HFF team worked on behalf of the borrower, Zeller Realty Group, to secure the floating-rate loan through Prime Finance. The financing has allowed ZRG to kick-off a plan to reimage and rebrand Meridian Mark. The company will add a state-of-the art conference center, high-end fitness facility, collaborative tenant lounge and transform the lobbies into bright modern spaces. The properties are located at 116th and Meridian, the “Main and Main” in Carmel's prestigious Meridian Corridor. This location is proximate to IU Health North Hospital and I-465 north of downtown Indianapolis. The HFF debt placement team representing the borrower included senior director Ken Martin.

DEALTRACKER

CHICAGO—Avison Young has completed the sale of a 93,903-square-foot health-system-anchored medical office building on Chicago's North Shore on behalf of the seller, Franklin Partners, a Chicago-based investment firm. The buyer was Chicago-based developer and owner J. Emil Anderson & Sons, Co. The Carriage Point Medical Complex, located at 101 Waukegan Ave. in Lake Bluff, IL, is 100% leased to several regional health care providers. Avison Young principals Erik Foster and Mike Wilson, both members of the firm's national healthcare capital markets group, worked in conjunction with Avison Young principal Tim Henry to market the asset for the seller. Henry is a retail specialist working within the Chicago market and nationally. “Franklin Partners completed an extensive building renovation over the last 24 months to enhance the use and perception of the asset,” says Wilson. “With new leases to Fresenius Medical and Illinois Bone & Joint, along with several North Shore University Health System specialists in place, the facility is extremely stable considering its location and accessibility to the North Shore.”