fall tw-wire
TRANSCRIPT
ROSEMONTROSEMONT ROSEMONT
ROSEMONT
FALL 2015 MIDWEST HEADLINES AND HIGHLIGHTS
TW - WIRE
John Coleman speaks at the Industrial Conference in Rosemont. He speaks about business & big ten football.
More than 80 industrial producers, execs, related business-line leaders and clients descended on Chicago September 24 and 25 for the first-ever Transwestern National Industrial Conference. “Forming a Community” was the overriding theme as brokers from 21 different offices met each other, in most cases for the first time. Socializing included sharing three wonderful meals together and a night on the town. Learning was achieved through three general sessions and six smaller breakout sessions. Two highlights were the Landlord Panel featuring execs from Clarion, Hillwood and CenterPoint which was moderated by the jovial Steve Pumper. Another great session was the Emerging Leaders session attended by our younger, future top producers. The conference was pulled together by Walter Byrd from Miami, John Coleman from Rosemont and Steve Kozarits from Chicago. Terrific support was provided by Kim Croley, Nancy Russell, Anthony Katsivalis, Tina Wakley, Katie Walsh, Sandy Morgan and Diane Reier.
Tom Boyle and Jared Paff have been retained by Birmingham, Alabama-based Pari-Mutuel Funding as the exclusive listing agent for the former Dairyland Greyhound Park, located at 5522 104th Ave. in Kenosha, WI. Rebranded as the Midwest Innovation Center, the 228-acre site is only 6.6 miles north of the Illinois border and can accommodate up to 2.3 million square feet, making it ideal for a corporate headquarters campus or business park with space for manufacturing, warehousing and distribution. “Look at it. It’s flat. It’s square. It has everything you need. To me, it’s all paved with gold”, Transwestern Principal Thomas Boyle said. “ I view this site as the natural connection point between the Chicago and the Milwaukee market” . “The Midwest Innovation Center’s size and visibility along Interstate 94 has already generated strong interest from prospective buyers that realize this site’s potential,” said Boyle. “It is one of only a few properties in Kenosha and Racine counties that can immediately accommodate a single building up to 1.2 million square feet. Because infrastructure is already in place, construction can begin much sooner than at other properties nearby.”A conceptual plan for the property includes five buildings ranging in size from 120,000 to 650,000 square feet. “You could be a looking at a billion dollars of total real-estate value—because this is the best site in Kenosha County,” Boyle said. Shuttered since 2009, the property is located along I-94 at a four-way interchange with 52ndStreet/Highway 158. The area has emerged as one of the Midwest’s premier e-commerce and fulfillment center corridors with recent nearby developments by online retailer Amazon.com and packaging materials distributor Uline Inc.We are told after just one week on the market, there are offers for the property. “Within 48 hours we had a couple of offers. We are still looking forward to having many more,” Boyle said.
Tom Boyle & Jared Paff
“I view this site as the natural connection point between the Chicago and the Milwaukee market.The Midwest Innovation Center’s size and visibility along Interstate 94 has already generated strong interest from prospective buyers that realize this site’s potential.”
— Tom Boyle
RosemontIndustrial DealSPOTLIGHT
The Association of Industrial Real Estate Brokers (AIRE) announced the official winner of the 2015 Frank Mahoney Award of Excellence at its Oct. 13 luncheon, which celebrated the 25th anniversary of the first award.
In his speech, Scott Duerkop, president of AIRE and vice president of JLL, presented Jared Paff of Transwestern as this year’s winner.
According to AIRE, the Frank Mahoney Award recognizes outstanding leadership, community service and real estate brokerage success among our young professionals. The award was established a quarter-century ago to acknowledge brokers who at the very beginning of their careers are already embodying the fine character traits practiced by Frank Mahoney, who began his industrial real estate career in the early 1970’s after serving as a clergyman in South America. Frank was well known for his fair play, dedication to good practices and cheerful spirit. He also was a ferocious supporter and active member of AIRE serving as committee chairman, director and an officer.
The award also focuses on those who have served the community. Duerkop stated in his speech that Paff was recognized for his limitless hours of volunteer work with Autism Speaks, an organization dedicated to increasing awareness of autism spectrum disorders.
“He chose Autism Speaks for good reason,” Duerkop said. “He has a family member with autism, so instead of just putting his money where his mouth is, he puts his time where his heart is.”
Sam Badger of NAI Hiffman was the one who nominated Paff, saying his clients are well-informed on the market and well-equipped to make educational real estate decisions. He said Paff approaches negotiations openly and creatively, and focuses on solutions that work for all parties.
Winner of 2015 Frank MahoneyAward of Excellence
JARED PAFFRosemont’s TW Spotlight
NATIONAL AWARDSCongrats Larry & Justin!
Each year, CoStar recognizes the top commercial real estate brokerage firms and brokers with the prestigious Power Broker Award. As the largest professional research organization serving the commercial real estate industry, CoStar is uniquely positioned to track transactions and identify the top players across the industry.
CoStar tallies the commercial real estate sales and lease transactions that closed during the previous year, then presents awards to the firms and individuals who achieved the highest volume of sales and leases in over 90 markets across the U.S. and Toronto, Canada.
Vineet Sahgal accepted the award for 2014 Powerbroker for Transwestern.
TRANSWESTERN WINS 2014 POWER BROKER AWARD
Congratulations Transwestern for a job well done!
Keep Your INBOX OrganizedI keep my email inbox organized. I create subfolders for all my bro-kers and move all emails into them AFTER I’ve completed the task. I like a clean inbox. If I have an email sitting in my inbox, it means I still have to do it. Once it’s done, I move it over to my subfolder (if need-ed for reference at a later time) – this way, I don’t miss anything.
TW - HELP WIRE
OFFICE TIP BY KATIE WALSHExecutive Assistant | Rosemont [email protected]
THE TW CARTOON: Episode 1, The beastly printer
SEND ALL TW-WIRE SUGGESTIONS TO
TRANSWESTERN BEST PLACES TO WORK NETWORKING EVENT!
Jonathan Zeitler or is that? ..............
Professional bowler Walter Ray Jr?
Mike Watts and Michael Lirtzman face off on the hockey table at the hockey Hall of Fame in Toronto
Transwestern continues to prove why it is one of the best places to work in Chicago, providing its employees with this fun networking event. The evening was packed full of laser tag, bowling and fierce WhirlyBall competitions. The WhirlyBall’s scoreboards sparked a heated debate amongst the competitive Transwesternites when they discovered the Red team’s sensor was recording points for the opposing team from the slightest brush of the ball. The Black team dominated in this event overall, the uneven playing field did not prevent the Red team from picking up a few wins throughout the evening. Chris Davis proved to be a formidable player with his cherry-picking game strategy and deadly accuracy. He was the leading goal scorer that night. In laser tag, the Red team ruled the house with a total of four wins. Many laughs and good times had by all! A special thanks to Mike, Chris, and Tonji for making it all happen for TW.
— Mallory Phillips
2015Annual Midwest Event at Lake Geneva
HALLOWEENMarc Imrem Surprised US ALL!
An interesting tidbit, Transwestern’s Marketing Associate, Mallory Phillips completed a large-scale
mural commemorating some of Chicago’s flagship architectural gems. Mallory has completed
countless murals prior to employment at Transwestern. Her most notable murals can be seen in her
hometown at the University of South Carolina’s campus.
WELCOME!NEW KIDS ON THE BLOCK
MICHELLE MONHAUTInvestment Services GroupDirectorChicago
DIANE REIRClient Services AdministratorRosemont
CAREER HIGHLIGHTSMichelle joined Transwestern in 3Q2015, as a Director on the Office Investment Sales team. Prior to joining Transwestern, Michelle was a Vice President on the downtown Chicago Office Investment sales team at JLL, where her team had $1.3 billion in assets in the market between 2Q2015 and 3Q2015. Michelle has experience working with clients such as: Alliance Partners, Bentall Kennedy, BDT Capital, CarVal Investors, Fulcrum Asset Advisors, GlenStar Properties, Harbor Group International, Hines Interests, Invesco, GE Real Estate, Macerich, Newport Capital, Piedmont Office Realty Trust, RAIT Financial Trust, SparrowHawk, USAA Real Estate Company, Walton Street Capital, Winthrop Realty Trust.
EDUCATIONMichelle earned a Bachelor of Arts degree from the Lake Forest College and an MBA from University of Chicago’s Booth School of Business. She is a licensed Illinois Real Estate Broker..
CAREER HIGHLIGHTSPrior to joining Transwestern, Diane owned her own marketing company called “Visions”. She worked with new chiropractic entrepreneurs creating display ads, marketing forums, tradeshows and creating eye-catching brochures and Powerpoint presentations. Then took a position with Autumn Leaves as a Sales and Marketing Director maintaining the community census, via sales and networking with local organizations.
EXTRASDiane is a dog lover. Diane has a 10 year old Pub and 1 year old Boxer mix. A mother of three boys and married to her wonderful husband of 25 years.
WELCOME!NEW KIDS ON THE BLOCK
WELCOME!NEW KIDS ON THE BLOCK
VICTORIA MESSINAAdministrative Assistant/MarketingChicago
CAREER HIGHLIGHTSPrior to Transwestern, Victoria managed production tasks at FashionBar, a start-up to facilitate growth with up-and-coming creative professionals in the Chicago fashion market. She organizes RAW: natural born artists showcases on the Odyssey at Navy Pier every other month.
EXTRASVictoria has worked with various media establishments in the creation and editing of videos for a variety of subjects. She maintains a busy schedule with her passion for the arts.
EDUCATIONVictoria graduated from the University of Iowa received her BA degree in Film and Media Production.
CAREER HIGHLIGHTSAnthony has worked as a marketing consultant at Panoptic Group Developments and as a Director of Operations, Sales and Marketing at Tesa Cigar Company. His longest tenure he served as a marketing manager for Toyoda Machinery USA where he was responsible for all print and digital sales materials .
PROFESSIONAL AFFILIATIONS/RECOGNITIONAnthony has collaborated with local political organizations and US Senate campaigns assisting multiple departments
EDUCATIONEastern Illinois Journalism
ANTHONY KATSIVALISMarketing ManagerRosemont
WELCOME!NEW KIDS ON THE BLOCK
CAREER HIGHLIGHTSFrancesca has obtained degrees in architectural engineering technology and infrastructure management to ensure efficient communication and planning are being implemented in every aspect of her work performance. Her approach to becoming a successful professional is to build strong relationships with all personnel involved in the pre-construction and post-construction phases of a project to achieve the desired end result for the client.
EXTRASFrancesca volunteers with UCAN Chicago.
EDUCATIONUniversity of Cincinnati - BA Architectural Engineering TechnologyIllinois Institute of Technology - Masters, Public Works (Infrastucture Management)
FRANCESCA BONAPARTAssistant Project Manager
Meet Janice Sellis’s new bundle of Joy
Annalynn Emily Sellis!Congrats Janice!
THE TW INSIDERS SAVVY SANDY MCDONALD
THE TW INSIDERS SAVVY SANDY MCDONALD
Chicago Office and Industrial MarketIncreased RE Investment Likely & Industrial Activity Continues to Tick Up
With absorption positive, average lease rates rising and property values increasing, the age of the investor in Chicago is now. The overall Chicago office market had 602,063 SF of positive absorption in 3Q15. Suburban absorption continues to keep pace with the CBD, having over one third higher absorption activity than CBD in 3Q15. CBD absorption ended the quarter at positive 229,058 SF while suburban absorption had 373,005 SF of occupations. Average CBD rental pricing, currently at $29.45 PSF, continues to increase while suburban rates decreased slightly during the quarter to $18.61 PSF. Investment activity remains strong with average prices at $208.17 PSF.
E-commerce is changing the landscape across all CRE types but especially with industrial properties. The majority of companies moving to the Chicago area have an e-commerce component. Tenant demand continues to lean toward warehouse spaces that are used for distribution centers or third party logisticscompanies that support online retail vendors and any related tech support. With large manufacturing companies downsizing, like Caterpillar, the business type absorbing space will be less manufacturing sites and more flex or top of the line warehouses. The remaining question will be if savvy owners will be able torepositions older suburban industrial products in order to make it attractive to alternative users.
SANDY MCDONALDDirector of Market Research,Chicago & Midwest Region
Suggested Articles:Technology Evolution & Impact on Chicago RE
Market Report LinksTranswestern Chicago Office 2015Q3
Transwestern Chicago Industrial 2015Q3
Why Transwestern?
We can service our clients with economic incentives. Jeff Locascio provided brokerage and Brad Migdal delivered tax incentive services to Hoist Liftrucks Manufacturing relocation of its facility from Illinois to East Chicago, IN. Jeff Locascio helped Hoist envision how an 550,000 SF industrial building, part of NW Indiana steel history, with good bones could be re-purposed from an obsolete 110 year building into a modern manufacturing facility. Brad Migdal negotiated the $12.5 M incentives package based upon Hoist’s creation of 500 jobs and $42 M investment in Indiana that provided the operational cost differential that guided the final real estate search.
THE TW INSIDERS BRAD MIGDAL
BRAD MIGDALExecutive Managing Director
ROSEMONT, IL HEAVY HITTERSTOP DEALS
John Gledhill represented the tenant, Gymkhana Gymnastics Club, in a 10 year retail lease for 24,000 SF at 6664 Barrington Road, Hanover Park.
2 Venture One
JUSTIN LERNERPrincipal
JOE KARMINDirector
DAVID FRIEDLANDPrincipal
LocationSquare Footage
2425-2439 Curtis St. Downers Grove, IL
52,925 SF
Justin Lerner, Joe Karmin and David Friedland represented the seller in the sale of a 52,925 flex building at to Venture One Real Estate. Justin and Joe will continue as leasing agents for this property on behalf of Venture One.
3 Gymkhana Gymnastics Club
JOHN GLEDHILLSenior Vice President
Location Square Footage
6664 Barrington RoadHanover Park 24,000 SF
1 Niles to Niles Township High school District 219
JOEL FRIEDLANDExecutive Vice President | Agency Leasing
DENISE CHAIMOVITZPrincipal | Agency Leasing
Location Square Footage
6119 W. Howard6000-6100 W. Gross Point Road
63,200 SF
Joel Friedland and Denise Chaimovitz represented the seller on a 3 building sale of 63,200 SF of industrial space at 6119 W. Howard and 6000-6100 W. Gross Point Road, Niles to Niles Town-ship High School District 219.