Sourced from BisNow—
Demand for grocery-anchored retail assets has remained strong in 2016, thanks to their long-term leases and prime locations. Clarion Partners paid $218M last week for a portfolio of 11 properties from Loja Real Estate that includes seven Chicago-area supermarkets.
The assets are:
- A Whole Foods at 6009 North Broadway in Chicago.
- Mariano’s Fresh Markets at 2021 West Chicago Ave in Chicago, 5201 North Sheridan Road (shown) in Chicago and 1900 South Cumberland Ave in Park Ridge.
- A Whole Foods at 1101-1137 Chicago Ave in Evanston.
- A Trader Joe’s at 1211-1229 Chicago Ave in Evanston.
- A Trader Joe’s at 1600 South Milwaukee Ave in Libertyville. This is the majority of a portfolio Loja valued at $330M, and the sale was timed to close on Election Day. Loja will invest the proceeds into acquiring more retail assets.
BRE’s Keely Polczynski and Michael Gendell repped sellers Vincent and Patricia Satkoff in the $3.3M sale of 1252 North Wells St (shown), a 9,670 SF mixed-use space in Old Town, to a JV of R2 Cos and Marc Realty Capital.
Interra Realty’s Joe Smazal repped the seller in the $904k sale of 4057 North Sacramento, a seven-unit multifamily property in Albany Park.
Colliers International’s Jim Estus repped the seller in the disposition of a 52k SF industrial building at 10321 Werch Drive in Woodridge. The buyer, Venture One Real Estate, acquired the asset through its VK Industrial III acquisition fund.
Kudan Group’s Jerrod Rosen repped both parties in the sale of the former Cubby Bear North at 21661 North Milwaukee Ave in Lincolnshire. The buyer, Jazmine Gonzales, will redevelop the grounds into a contemporary event space.
Quantum Real Estate Advisors’ Chad Firsel repped the seller in the $1.8M disposition of Catalpa Commons (pictured), a 14k SF retail property in Woodstock. The site was 80% leased at the time of the sale.
The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller in the $1.7M sale of a single-tenant, net-leased Starbucks at 630 Northwest Hwy in Cary.
The Butler Group’s Brian Butler repped both parties in the following transactions: Falcon Insurance Co acquired a 17k SF office building at 724 Enterprise Drive in Oak Brook for $2.4M from Par Family Partnership. It will serve as its corporate HQ. A private investor acquired 211 West Chicago Ave, a 17k SF office property in Hinsdale, for $2.1M from the Catherine Brugh Family Trust.
Madison Hawk Partners acquired a three-acre property at 8201 West Higgins Road for $6.8M, via a sealed bid auction. The site was at the center of a $158M EB-5 fraud scheme. The former developer, Ashoo Sethi, pleaded guilty to fraud in January.
NGKF’s Corey Chase and Josh Young repped LeSaint Logistics, and Taurus Modal Group’s Dan Smolensky repped the sublandlord in a 191k SF sublease at 750 Veterans Pkwy (shown) in Bolingbrook. LeSaint signed the sublease following a strategic analysis of local options.
Mid-America Real Estate’s Dan Rosenfeld and Scott Satula repped Cobalt Partners in the following leases, totaling 112k SF, at 84South, a 48-acre, $160M mixed-use development under construction in Greenfield, WI:
- Fresh Thyme Farmers Market signed a lease for 29k SF.
- Total Wine and More leased 25k SF. Ross Dress For Less leased 25k SF.
- Ulta signed a lease for 10k SF. Mid-America’s Dan Cohen repped the tenant.
- Five Below inked 8,500 SF. Mid-America’s Dan Cohen and Tony Colvin repped the tenant.
- Kirklands leased 8k SF. Mid-America’s Tony Colvin repped the tenant.
- Carters/OshKosh signed for 6,900 SF. Mid-America’s Adam Dreier repped the tenant.
- Portillo’s leased a two-acre outlot. Mid-America’s Adam Dreier and Dan Cohen repped the tenant.
Brown Commercial Group’s Dan Brown repped Athenex Specialty Products in a 13k SF HQ lease at 10 Martingdale Road in Schaumburg. CBRE’s Bill Saviski, Rob Graham and Bill Elwood repped the ownership, Zeller Realty Group.
Bradford Allen’s Joel Berger repped Precision Research in its 12k SF lease renewal at 999 East Touhy in Des Plaines. Ownership was repped by Seite 7’s Janet Mrowka. HIRES/PROMOTIONS Isabel Preskill joined Savills Studley as an assistant director. She will execute business development and analyst support on a team that includes EVP John Goodman, EVP Rick Schuham and SVP Eric Feinberg.
Matanky Realty Group added 35-year industry veteran Arnie Blake. He has leased over 16M SF of regional mall space and contributed to leasing, developing and redeveloping 1.5M SF that included the disposition of Walmart, Aldi and Walgreen’s stores throughout the Chicagoland area.
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