CHICAGO—Related Midwest recently celebrated the grand opening of Landmark West Loop, the developer's 31-story, 300-unit luxury rental tower at 1035 W. Van Buren St. in Chicago's West Loop. Designed by New York-based Morris Adjmi Architects, the glass-and-steel high-rise – Related Midwest's third luxury rental offering in downtown Chicago – was the first apartment building to open in the West Loop in 2017, welcoming its first residents Aug. 1. The building's grand opening event, held on Oct. 24, included pop-up shops from neighborhood designers and retailers while West Loop staple The Publican catered the event. “In opening Landmark West Loop, we've unlocked a largely undiscovered corner of the West Loop that is brimming with aspirational students and professionals who want to live where they work and study,” said Curt Bailey, president of Related Midwest.

DEALTRACKER

CHICAGO—Holliday Fenoglio Fowler, LP recently completed the sale of Tri-State International Office Center, a five-building, class A office park totaling 559,204 square feet in north suburban Chicago. The HFF team represented the seller, Principal Real Estate Investors, and Bradford Allen Investment Advisors, represented the purchasers. The center consists of CDW Center, which comprises two buildings that are fully leased to CDW, a Fortune 500 company, for their headquarters; and 100, 200 and 300 Buildings that total 350,183 square feet. All five have been renovated since 2013, and are 79.3% leased to tenants, including CDW, LTD Commodities, Solo Cup and Wells Fargo Bank, NA. The complex sits on 37.4 acres at the four-way interchange of the Tri-State Tollway and Half Day Rd. in Lincolnshire. The HFF investment sales team representing the seller was led by directors Patrick Shields and Bryan Rosenberg and senior managing directors Jaime Fink, Jeff Bramson and Mark Katz.

MCHENRY, IL—Podolsky Circle and Centurion Investments, LLC have completed the sale of 4400 Prime Pkwy. and 1380 Corporate Dr. in McHenry, IL. The property is a 288,000 square foot class A industrial facility that is part of Brake Parts Inc.'s global headquarters campus. Podolsky's advisory team, comprised of managing principal Alissa Adler, principal John Homsher, and senior vice president Paul Tesdal, represented the seller, Centurion Investments, in the transaction. The property sold to Brennan Investment Group, which now owns the entire BPI campus. Built in 1990, 4400 Prime is a two-story industrial warehouse facility leased entirely to BPI and serves as its primary distribution center for the firm. The manufacturer and supplier has occupied the property for more than 27 years.

CHICAGO—HSA Commercial Real Estate has just signed a long-term lease renewal with Naples, Italy-based Seda International Packaging Group at its Park 94 in Mount Pleasant, WI. In 2010, Seda, the world's largest manufacturer of food packaging products, purchased a 323,610-square-foot building at 12501 Globe Dr. in Park 94 from HSA to serve as its North American manufacturing and distribution center. But this lease extension is for 61,162 square feet of space that Seda leased in 2015 at 1400 International Dr. in Park 94, a multi-tenant industrial building owned by HSA. “When Seda chose Park 94 as their North American manufacturing headquarters in 2010, they helped pioneer the growth of what has become one of the most robust industrial corridors in the United States,” said Robert Smietana, vice chairman and chief executive officer of HSA. Roger Siegel from The Dickman Co. represented ownership in the lease transaction.

BY THE NUMBERS

CHICAGO—JLL reported strong operating performance for the third quarter of 2017, resulting in diluted earnings per share of $1.89 and adjusted diluted earnings per share of $1.96. Highlights include: revenue up 14% to $1.9 billion; fee revenue up 12% to $1.6 billion. “Solid organic growth and strong cash flows from operations contributed to our third-quarter performance,” said Christian Ulbrich, chief executive officer of Chicago-based JLL. Asked on a conference call this week to evaluate some of the challenges he has faced in his first year at the company's helm, he said, “I'm very pleased that the overall market environment is favorable and as it looks it continues to be quite favorable going into 2018. But it's obviously kind for a new CEO to be starting in a favorable market environment. This is a well-run business which I took over and so there wasn't many major surprises. We're working hard on becoming much more digital-focused and that takes a lot of the focus of the leadership team.”

NEWS & NOTABLES

CHICAGO—Related Midwest recently celebrated the grand opening of Landmark West Loop, the developer's 31-story, 300-unit luxury rental tower at 1035 W. Van Buren St. in Chicago's West Loop. Designed by New York-based Morris Adjmi Architects, the glass-and-steel high-rise – Related Midwest's third luxury rental offering in downtown Chicago – was the first apartment building to open in the West Loop in 2017, welcoming its first residents Aug. 1. The building's grand opening event, held on Oct. 24, included pop-up shops from neighborhood designers and retailers while West Loop staple The Publican catered the event. “In opening Landmark West Loop, we've unlocked a largely undiscovered corner of the West Loop that is brimming with aspirational students and professionals who want to live where they work and study,” said Curt Bailey, president of Related Midwest.

DEALTRACKER

CHICAGO—Holliday Fenoglio Fowler, LP recently completed the sale of Tri-State International Office Center, a five-building, class A office park totaling 559,204 square feet in north suburban Chicago. The HFF team represented the seller, Principal Real Estate Investors, and Bradford Allen Investment Advisors, represented the purchasers. The center consists of CDW Center, which comprises two buildings that are fully leased to CDW, a Fortune 500 company, for their headquarters; and 100, 200 and 300 Buildings that total 350,183 square feet. All five have been renovated since 2013, and are 79.3% leased to tenants, including CDW, LTD Commodities, Solo Cup and Wells Fargo Bank, NA. The complex sits on 37.4 acres at the four-way interchange of the Tri-State Tollway and Half Day Rd. in Lincolnshire. The HFF investment sales team representing the seller was led by directors Patrick Shields and Bryan Rosenberg and senior managing directors Jaime Fink, Jeff Bramson and Mark Katz.

MCHENRY, IL—Podolsky Circle and Centurion Investments, LLC have completed the sale of 4400 Prime Pkwy. and 1380 Corporate Dr. in McHenry, IL. The property is a 288,000 square foot class A industrial facility that is part of Brake Parts Inc.'s global headquarters campus. Podolsky's advisory team, comprised of managing principal Alissa Adler, principal John Homsher, and senior vice president Paul Tesdal, represented the seller, Centurion Investments, in the transaction. The property sold to Brennan Investment Group, which now owns the entire BPI campus. Built in 1990, 4400 Prime is a two-story industrial warehouse facility leased entirely to BPI and serves as its primary distribution center for the firm. The manufacturer and supplier has occupied the property for more than 27 years.

CHICAGO—HSA Commercial Real Estate has just signed a long-term lease renewal with Naples, Italy-based Seda International Packaging Group at its Park 94 in Mount Pleasant, WI. In 2010, Seda, the world's largest manufacturer of food packaging products, purchased a 323,610-square-foot building at 12501 Globe Dr. in Park 94 from HSA to serve as its North American manufacturing and distribution center. But this lease extension is for 61,162 square feet of space that Seda leased in 2015 at 1400 International Dr. in Park 94, a multi-tenant industrial building owned by HSA. “When Seda chose Park 94 as their North American manufacturing headquarters in 2010, they helped pioneer the growth of what has become one of the most robust industrial corridors in the United States,” said Robert Smietana, vice chairman and chief executive officer of HSA. Roger Siegel from The Dickman Co. represented ownership in the lease transaction.