This is a 650,000 SF industrial build to suit on a 1,000,000 SF pad, covering 49 acres. The building includes a 15,000 SF aerosol room, a 6,800 SF red label room and 25,000 SF of office space. This is the premier logistics facility for 3M in the country for their consumer products division. It has a state of the art computer tracking system, 70 truck docks, and 1,000 trailer spots. Construction began July 2010 and the COO was issued on April 1, 2011, in just nine months the project was delivered on time and on budget. This class A project required significant site work coordination to keep on the schedule. To accomplish this, the site required significant liming to stabilize the wet soils from an unusually rainy summer season. The building needed to be fully enclosed in just 4 months so that the interior work could be completed thru the winter months for an early spring delivery. This required the development team to create a special working relationship with the city inspectors and plan reviewers as well as an open book process with the user. This was exemplified by weekly conference calls that included all team members to openly discuss issues and work through solutions. Through this process the building met all of its timing and budget requirements. This specific building is now the showcase logistics building in the 3M logistics system and is presently being used as a training center for their key executives throughout the country.
unique accomplishment that required tremendous teamwork and coordination. build-to-suit development featuring a distinctive, two-building, glass complex. The complex highly visible site along I-294. World-renowned architect Goettsch the prominent intersection, creating an iconic image along the expressway. The LEED-NC
LLC
The new North American headquarters for Japanese pharmaceutical company Astellas is a 440,000 square foot trophy development in Glenview, Illinois. The $150 million headquarters project is one of only a few projects built during a period when no development occurred -- a What initially started off as a spec office building lease transaction turned into a land purchase, offers Astellas the advantages of an efficient, custom-designed "green" facility situated on a Partners embraced the challenging site configuration with an L-shaped massing that hugs the property line. A dynamic, asymmetrical form for each of the two office buildings angles toward
Gold development features a sustainable geothermal system, a closed-loop ground heat exchange system utilizing (88) 700-foot-deep wells and HVAC equipment used to extract the cooling and heating energy from the earth. Being identified as the first pharmaceutical company from O'Hare along the I-294 "Pharma Corridor" was a major factor in Astellas' decision to relocate. A collaborative effort with the design team and Village of Glenview allowed Astellas to achieve their desire for optimal signage visibility without sacrificing the architectural integrity of the complex's design. In order for this project to happen at all, the team overcame a historically down financing market by restructuring the deal, allowing the project to commence at a time when no other significant projects were starting. The development team was able to take advantage of difficult market conditions and significant buying power to reduce construction costs. The development team estimates the savings on the core/shell and interior build-out as 20% of what the buildings would have cost during the peak. The project also created more than 500 construction-related jobs for U.S companies and is projected to bring approximately 1,400 new jobs to Glenview. This project's success was recently recognized by industry peers as the Office Development of the Year at the 2011 NAIOP Chicago Awards for Excellence event in November.
As deals go, this one had a lot of moving parts, including the assemblage of multiple parcels, the removal of nearly a one-quarter mile section of road, and all related utilities, as well as the rerouting of these utilities, the purchase of additional property, wetlands mitigation, and approval of compensatory retention and subsequent release of water into the wetlands. This 1,350,000 SF regional distribution facility for a Fortune 500, Confidential Consumer Products Company had an aggressive schedule, liquidated damages, and a site that was entirely concrete. The facility has expansion opportunity to reach 1,600,000 SF and is part of the Commerce Center Park in University Park, IL. The new facility, with a perimeter of over a mile, enabled the tenant to move out of its previous location into a larger distribution facility with 184 loading dock positions and onsite trailer storage for an additional 375 trailers. Total exterior concrete paving was in excess of 850,000 square-feet.
The building is a pre-cast concrete and steel structure with an ESFR fire protection system and an EPDM roof. The project entailed tenant improvement work, including office finishes, compressed air system, and additional electrical and mechanical work for material handling equipment. One aspect of the project that is considered to be exceptional is the extensive, state-of-the-art guardhouse/security/welcome center. We provided design-build services for the mechanical, electrical, and fire protection components. The project was delivered under budget. Through strategic planning, the project was also delivered ahead of schedule, in just 11 months, which was a significant accomplishment considering most of the major external construction was completed through the winte r months and one of the Chicagoland area‟s worst snow storms.
During the past year while coming out of one of this country‟s worst economic recessions, Bridge was able to successfully complete two projects —555 Corporate Center and Bridge Point Woodridge —and undertake a third. At 555 Corporate Center, a Class A, LEED Gold-certified office facility in Lincolnshire, Bridge leased the entire 163,000-square-foot project long term to investment-grade credit tenant, Sysmex America, Inc. as its new corporate headquarters. It structured a creative transaction that accommodated the medical device manufacturer‟s needs better than all other alternatives in a multi-state search. Critical to this transaction was the ability of Bridge to accommodate both the headquarters requirement in this project as well as the warehouse/distribution requirement in its previously developed Aptakisic Creek Corporate Park located directly south of 555 Corporate Center. Sysmex agreed to a 15-year lease valued at $80 million, making this lease was one of the largest in the entire Chicago area at that time. 555 Corporate Center is currently on the market and expected to achieve record pricing for suburban Chicago office. Additionally, Bridge was able to successfully lease 270,000 square feet of industrial space at its southwest suburban Bridge Point Woodridge, bringing the two-building development to 70 percent occupancy. Its premium infill, eastern I-55 location providing accessibility and visibility attracted national tenants such as Navistar and Flowserve, creating value for the project. In 2011, Bridge was able to profitably sell Bridge Point Woodridge as part of a larger portfolio to Denver-based REIT Industrial Income Trust Inc. The sale achieved premium pricing through a portfolio effect, and Bridge was able to provide a return for investors at a time when that was an anomaly. In addition to development, Bridge has been actively acquiring value-add institutional-quality office and industrial facilities located in core submarkets. Among nearly 800,000 square feet acquired in 2011, it purchased a 312,000-square-foot cold storage facility in suburban Lyons, Ill. that it plans to reposition. The acquisition fit Bridge‟s strategy of pursuing real estate transactions that conventional developers might overlook due to its complexity and infill location.
Known as one of Chicago's premier teams focusing on industrial client representation, Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham in 2011, completed 49 transactions totaling over 4.4 MSF, with an aggregate value of over $128 million. Together since 2002, the team has completed over 950 transactions, totaling over 27 MSF with an aggregate value in excess of $1.5 billion, which has distinguished them as the #1 industrial team in CBRE's Chicago Region. Follett's lease of 551,200 SF in Aurora- The team represented Follett Corporation in the lease of 2805 Duke Parkway, Aurora, IL. The 551,200 SF building is situated northwest of the crossway of State Route 59 and I-88 in west suburban Aurora. Wal-Mart lease of 575,024 in Joliet- The team represented Wal-Mart in the lease of 575,024 SF at 3451 Chicago Street, Joliet, IL. The property is located on Route 53 about three miles south of I-80. Experts in the acquisition and disposition of industrial properties for corporate, institutional and private companies on both a local and national basis, some of the team's 2011 highlights include: Parkview Acquisitions' sale of 136,715 SF in Lake Zurich- The team represented Parkview Acquisitions in the sale of 1275 Ensell Road, Lake Zurich, IL. The 136,715 SF building was sold to JBS Lake Zurich, LLC for an undisclosed price. CenterPoint Properties lease of 218,676 SF in Wheeling- The team represented CenterPoint Properties in the 10-year lease of 218,676 SF at 1500 S. Wolf Road, Wheeling, IL, to J.A.B Distributors, LLC. Their unparalleled market knowledge is focused on the North Side of Chicago, in the O'Hare submarket, throughout Northern Cook County, and up into Lake County and Southern Wisconsin. This extensive knowledge has enabled them to develop a dominant market share, helping tenants; landlords and developers address all their diverse industrial real estate needs.
Brian Kling is a member of Colliers International‟s Chicago Industrial Advisory Group. He has been promoted four times in the past five years, making him the youngest person ever to reach the title of executive vice president. He was Colliers Chicago‟s top industrial producer in each of the last three years and overall top producer in 2011. He was also named a national top 5 industrial broker by Colliers USA. In 2011 Brian completed 39 transactions valued at $90,640,616. His focus on the Central DuPage and Fox Valley submarkets makes him truly unique. His decision to live and specialize there results in unmatched market penetration. Brian has served more as a creative strategist for his clients that just a broker. In 2011 he completed a 385,344-square-foot lease with Office Depot. Although representing the landlord, Brian spent the prior three years building trust with the tenant personally. He was able to renew them directly without an outside broker and expand their lease by 128,000 square feet. Another example of Brian‟s creativity occurred while representing SYNNEX Corporation. SYNNEX was occupying 220,000 square feet but was expanding rapidly. With two years of remaining lease obligation they did not want double lease payments. Brian conducted a search for SYNNEX including build-to-suit options. He made SYNNEX aware of a 452,000-SF
building that Panattoni was selling. He negotiated a purchase agreement that allowed SYNNEX to occupy the building rent free until the expiration of its other lease. With Brian‟s deep understanding of the owner‟s financing situation, he was able to achieve a sale price at a 20% reduction by having SYNNEX close at earlier date than previously agreed. Carter Andrus, Prologis Vice President, had this to say about Brian‟s expertise: “Within four months Brian was able to align the needs of one of his clients with the opportunity our vacant facility provided, and a 10-year lease was signed. With the average time on comparable properties being in excess of 12 months, Brian was able to save Prologis significant money by elimi nating this expected downtime.”
The team of Jason West, Sean Henrick, and Mike Magliano has continually raised the bar in terms of customer service, creative deal structure, and market expertise. Since the team began working together in 2004, they have leveraged their unmatched knowledge of the Western and Southwest suburbs to create a business model that focuses solely on client satisfaction and obtaining the best deal for each and every client they serve. Each team member is a respected member of the real estate community in his own right, but together, they are one of the region's most formidable teams and have served as one of the cornerstones of Cushman & Wakefield's Chicago industrial platform for the last 5 years. With more than 30 years of combined industry experience, the team specializes in the delivery of comprehensive industrial real estate transaction and advisory services to investors, developers and corporate users including corporate transaction management, institutional project leasing, surplus property disposition, sale/leaseback transactions, build-to-suits, economic incentives negotiations, and land acquisition and dispositions. With a penchant for identifying opportunities, closing transactions for clients, and understanding the wants and needs of individual buyers, sellers and owners, the team consistently produce results for their clients and company alike. With unsurpassed energy and collaboration, they leverage their intelligence, integrity, creativity, and tenacity to cultivate relationships, deliver client-centric solutions, and maintain many multi-transaction clients. These include: Sunsource, ML Realty Partners, Sun Life of Canada, Duke Realty Corporation, TA Associates Realty, Sitex Realty, Lincoln Property Company, ProLogis, Alter Group and Allianz. When described by their clients and colleagues, phrases that are used, include: "passion for serving clients", "respect for colleagues", and "true professionals." These qualities personify why this team has been so successful over the last decade and will continue to raise the bar going forward.
Brian participated in twenty-five 2011 Transactions involving 1,740,000 sf with sale volume of $78.5 million, raising his 27 year career totals to 631 transactions involving 22.5 million sf with sale volume of $927 million. Three of the 2011 transactions were above 100,000 sf and three above 200,000 sf. Two transactions were build-to-suits. The Individual Involvement/Professional Skills and Deal Structure creativity of Brian are evident through his 2011 efforts with highlights that follow. As a Wirtz Realty team member, Brian researched sites of 50 acres for the new Wirtz Beverage Illinois facility with Cicero selected for the 600,000 sf development. The project and
Wirtz Realty team were nominated in the 2011 NAIOP Industrial Build-to-Suit category. Brian subsequently represented the Wirtz Corporation in their Elk Grove 215,000 sf building sale on 10 acres to a developer as a tear down, and his negotiating skills produced the highest industrial land value in metro Chicago since 2007. Another highlight is the 100 acre Union Pointe Business Park, Woodridge, the first major park launched also since 2007. Researched as part of the Wirtz site search, Brian recognized the opportunity and introduced to McShane Development leading to a partnership with the owner. He is now the lead of the Grubb and Ellis marketing team for the Park. Edward Don Restaurant Supply chose Union Pointe for a 362,500 build-to-suit, now under construction. His regular attendance of Elgin-O'Hare West Bypass (EOWB) meetings enables Brian to provide timely advice to firms affected by the EOWB. His advice motivated Palumbo Asphalt to engage Brian and begin their relocation search leading to a closing on 3.5 acres, and a second closing in March, 2012 on the adjacent 8 acres. Brian is well respected among his industry peers. He is a CCIM and AIRE member being prior membership director of both, and belongs to the Chicago Commercial Forum. He publishes three to five articles per year and attends often major national conferences as the 2011 Council of Supply Chain Management Professionals in Philadelphia. Brian was chairman for five years of the father-daughter dance at Glenbard West High School.
Dan Leahy‟s philosophy has taken him to the top of the list of Chicago‟s industrial brokers at a very young age; he consistently ranks at the top of his own firm and is the broker of choice for several major industrial clients. The difference is his consultative approach, working alongside his clients as one team, building relationships based on trust with a common goal of long-term success in mind - not just the next transaction. Dan provides value to his clients as an expert in the area of Logistics, transportation and supply chain management. “You have to look at the client‟s situation holistically. We are then able to propose solutions that are aligned with their business objectives and truly impact their business.” Dan act s as consultant, reviewing a client‟s assets along with their budgets to gain a holistic view of their portfolio. He then expands his scope to recommend assets to be considered for disposition, hold, or capital expenditure. In the case of TA Realty Associates (TA), Dan reviewed assets to determine that by restructuring two leases and renewing two others, TA could acquire another asset and move the expanding tenant into the newly acquired building. The resulting transactions completed two renewals, an expansion and an acquisition for TA, raising the value of the local TA portfolio. Just as interesting to him are the aspects of strategic planning that accompany his advisory methods. In addition to the usual delivery of occupancy expectations, he also advises clients such as CenterPoint regarding their marketing campaigns and communications. Along with attending and/or speaking at 5 logistics and transportation events in 2011, Dan and his team represented clients at out of town events, hosted dinners and exhibited on their behalf. In 2011, Dan completed 38 transactions in the Chicago area, totaling more than four million SF valued at over $105 million, of which 70 percent were repeat business. His accomplishments included brokering four transactions at the CenterPoint Intermodal Center near Joliet, IL, for over 800,000 SF with a value of over $40 million.
On December 16, 2011, the AMA and Prime Group Realty Trust executed a lease that culminated an "aggressive and swift" 5-week process that secured 8+ floors covering 273,000 square feet at 330 North Wabash Avenue, which had been nearing the end of lease negotiations with two other large tenants. The transaction was unique because it was: Innovative for using a Binding LOI - PGRT would not end its lease negotiations with the two other tenants for the Tower Rise floors at 330 N. Wabash on the mere hope that the AMA would finalize discussions. Similarly, the AMA would not move forward without a commitment that the space would be theirs; Innovative for negotiating Anchor Tenant Lease in just 2 weeks - Once the binding LOI was executed, a form of lease that had been derived from several other anchor tenant deals was used as the base with the AMA's terms inserted. Completing this process in just 2 weeks was a herculean task for a 273,000-square-foot tenant, especially in the run-up to the holiday season; Innovative for completing the transaction quickly and confidentially- No one else in the market, potential landlord or tenant, was aware that the transaction was underway; Innovative by enabling the AMA to transition from 16 floors and 360,000 rsf to 8? floors and 273,000 rsf without reducing its workforce - Without reducing headcount, the AMA will transition to an all-new, efficient space in an iconic property that will be renamed The AMA Plaza; Innovative because PGRT was successful in keeping two other interested tenants - While the AMA lease prevented two other interested tenants from being able to occupy space in the Tower Rise, PGRT was resourceful in finding a way to accommodate those two tenants in different space in the building, thereby securing at least two and possibly all three tenants; Innovative in that Downtown market is closer to needing a new development - One of the remaining large blocks of space has been eliminated from the market, so the likelihood has increased that a new office development will need to kick off to satisfy demand.
The new North American headquarters for Coyote Logistics, recently named the fastest growing third party logistics company in the country, is a 145,000 square foot facility that launched the country's first LEED Platinum redevelopment at the Green Exchange (2545 West Diversey) in Chicago, Illinois. This high-profile project, which has been visited by Mayor Rahm Emanuel multiple times, has a $15 million loan guarantee backed by the City of Chicago and, due to Coyote Logistics' relocation, is responsible for bringing over 1,500 jobs to the city. Ranked the sixth-fastest growing company in the country by Inc. magazine in 2010, Coyote Logistics required a solution that met their demand for future expansion, including plentiful parking and a modern workspace, while adhering to strict economic parameters. After an exhaustive search of the market, Coyote Logistics selected the Green Exchange as it allowed the company to maintain its "work hard/play hard" philosophy while attracting young, motivated and highly-educated employees from Chicago's downtown neighborhoods. The space offers access to hundreds of parking spaces (on- and off-site), ability to accommodate significant growth over multiple years, and the opportunity to customize a dynamic, trendsetting office space. Through active negotiations with various parties including the City of Chicago, local Aldermen, and the State of Illinois, the team was able to secure millions of dollars in incentives through TIF funds, EDGE credits, and training incentives.
In addition to meeting all of Coyote Logistics' varied needs, it provides an environmentally friendly platform for their business. The Green Exchange allows the company to utilize innovative technology and space for a swiftly growing team of energetic, highly-trained logistics experts, allowing Coyote Logistics to decrease the number of trucks transporting half or empty loads, reducing emissions and their overall carbon footprint while significantly enhancing productivity. Due to their perfect balance of form and function, Coyote Logistics was recently named the #1 mid-size company on the Chicago Tribune Top Workplaces for 2011.
CBRE assisted Edward Don & Company in the selection of their headquarters location. The deal represented a long term commitment by Edward Don & Company to a local municipality and the State of Illinois. By committing to a 20 year lease term, the company signaled that they are here to stay. A thorough, multi state and multi submarket study was untaken to identify the optimal site available to Edward Don. By modeling a combination of transportation/logistics costs, labor force rates and availability, cost reductions from increased productivity and real estate costs, Edward Don & Company was able to evaluate multiple sites independently before selecting the optimal location. Additionally, the collaborative efforts of the State of Illinois, DuPage County, Woodridge, IDOT and many municipal institutions were critical in assembling the right stakeholders to ensure the transaction could be completed. The action of these governmental agencies coupled with the determined efforts of Edward Don, McShane Development, Gallagher and Henry and the representative brokers are what made the transaction a reality. The unique approach to modeling the optimal site provided for a number of outstanding and potential opportunities throughout the Metro area. Once the Woodridge site was determined to be optimal, a lease agreement was executed, a joint venture partnership with the land owners was established, changes were made to the Master Plan and zoning for the property was altered for this type of development. Due to a required July 1st completion, if any of these events had not occurred, it is unlikely that construction could have been completed on the project. Edward Don & Company has taken a leadership position in an unstable economy. By committing to a 20 year lease and adding approximately 40% additional capacity, they are signaling to the market that the economy is headed in the right direction. As the first tenant in the Union Pointe development in Woodridge, they are paving the way for significant additional development in the area. Additionally, over the next 20 years, the firm will generate more than $30 million in tax revenue for the Village of Woodridge for use within the community.
The complex Ventas headquarters project required innovation on the part of multiple parties. After acquiring Lillibridge Healthcare Trust, Ventas decided to combine its Chicago offices into a single headquarters. To do so, the existing Lillibridge space was quickly sublet which required U.S. Equities to identify and negotiate a temporary space which Lillibridge could move into for nine months while permanent headquarters space was negotiated and constructed. Ventas elected to pursue two contiguous floors at 353 North Clark, one under the control of the landlord, the other under the control of Jenner & Block. Ventas would only complete the transaction if the 10-year lease and sublease were "seamless," sharing the same basic legal structure, rights, notice periods and, in essence, "control" over the two floors. Although both
Tishman Speyer and Jenner & Block were motivated to lease/sublease the floors, creating a lease/sublease between the parties that allowed Ventas to operate as if it were under one lease was extremely difficult. This transaction's various complexities and intricacies was completed through the tireless efforts of the professionals at Tishman Speyer, Jenner & Block, Ventas, Colliers International, U.S. Equities Realty, Barack Ferrezzano, Katten Muchin Roseman, Gary Lee Partners and Goettsche Partners. Ultimately, by negotiating individually and collectively with four separate parties (landlord, sublandlord, lender and tenant) we solved complex legal and business issues such as ensuring all rights, notice and cure periods are in alignment and allowing the lease and sublease to be seamless for Ventas over a 10-year period. Further, we worked through design and base building issues, ensuring that space originally constructed for a law firm could be connected to another floor and modified to meet the needs of a growing real estate company. All this was done while keeping the 34th floor's comprehensive systems intact and ensuring the space could be easily converted back to law firm space if required. Ultimately, the efficient and successful execution of this deal resulted in keeping a Ventas headquarters in Chicago, affirming the city as a place where the "best and brightest" in our industry practice their trade.
Executive Construction Inc (ECI) has definitely made a mark on the interiors landscape in 2011, completing over 200 interiors projects totaling $100M...exclusively in Chicagoland. It is with pride that we recognize three world class projects: United HealthSystem Consortium (UHC) relocation to 155 S. Wacker, Amtrak's Central Division buildout at Union Station, and a Confidential Trading Firm's move to The Apparel Center. UHC: ECI first worked for UHC in 2001, completing multiple assignments over the last 10 years. As they began to evaluate their real estate options, a relocation of this corporate headquarters facility was looking very real. Based on a solid track record of performance, ECI was brought in early to work with CBRE, CannonDesign and the client to ultimately construct this 78,000sf, 2.5 floor buildout that featured a contemporary design highlighting collaborative spaces, extensive custom glazing allowing bright light and exterior views throughout. The project achieved a LEED Silver Certification and as a new tenant in Chicago, will bring a staff of over 250 into the city. AMTRAK: As one project within the major redevelopment of the iconic Union Station, ECI's sensitivity to the buildings historic significance along with our ability to work harmoniously alongside multiple general contractors, proved to be the right formula for this assignment. When asked to comment on ECI's performance, "Flawless" was the quote from the JLL team. Working closely with JLL, Gensler and other consultants, ECI took the lead to work through complex existing conditions to creatively resolve multiple MEP infrastructure and structural issues. This LEED Silver 50,000sf anchor tenant buildout over 2 floors also featured Great Hall benches and original wood doors being relocated into the space as design accent features in the elevator lobby and main café. CONFIDENTIAL TRADING FIRM: Another repeat client of over 10 years, ECI was the obvious choice for this 75,000sf relocation. A mandate for state of the art technology while maintaining a comfortable, efficient office environment were clear goals for the project. Critical system redundancies, custom trading stations, high end finishes and employee focused areas such as a fitness center, cafeteria and water feature with koy pond.
J.C. Anderson established in 1879 and located in Elmhurst, is one of Chicago's oldest and largest interior general contractors and has worked in more downtown Chicago buildings than its competitors throughout its history. The firm's interior construction projects range from building maintenance to multi-million dollar contracts and it maintains an average workforce of 150 employees. Known for its ability exceed budget and scheduling requirements, J.C. Anderson experienced a 10 percent growth in revenue, a measured growth in staff and reopened a downtown location in 2011. Project highlights for the year include the 23,000SF build-out within 8870 W. Bryn Mawr in Chicago which was managed by GlenStar Properties. The project team is seeking LEED Gold which would make it the first LEED property for Rexam worldwide. The $1.6 million project included the construction of meeting rooms, a 1,200SF executive board room with high-end AV capabilities, a server room and break room. J.C. Anderson also constructed a tele-presence room in which Rexam's staff can interact with its global locations. J.C. Anderson also completed a 100,000SF build-out for PNC at 1 N. Franklin which was managed by Tishman Speyer. The $4.1 million project is located within 1 N. Franklin Avenue in Chicago and was completed in an occupied space in an aggressive time frame of _ weeks. The build-out featured the renovation of seven floors including the construction of executive and corporate offices, conference rooms, open work areas, elevator lobbies, break rooms and a server room. The firm followed green building practice guidelines including the use of low VOC paint, carpeting from recycled product and the recycling of materials throughout the construction process to name a few. The last project references the 133,022SF, $3.5 million renovation of 29 N. Wacker under the management of NAI Hiffman. The project itself was implemented specifically to generate community impact by improving the property's amenities and overall value. The project featured improvements to the 13-story building's lobby, common areas, corridors, parking garage and restroom facilities. The goal of the renovation is to attract new tenants which would help to reduce the area's overall vacancy rate.
Leopardo is submitting world-class projects that distinguish Chicagoland and leave a giant, positive footprint in the city. The projects include: national headquarters based in Lisle; Chicago headquarters for national financial company; plaza/lobby renovation plus nine-floor buildout for one of Chicago's most recognizable buildings.
Wells Fargo
Part of a major consolidation for its scattered operations across five buildings, Wells Fargo turned to Leopardo for phase one of its new Chicago headquarters, consisting of a $4.5M, 45,000-SF tenant build-out of two floors that included concrete topping/floor leveling, marble, carpeting and wood throughout. The project featured custom woodwork including wood walls, ceilings, benches, convector enclosures, display cases, oval conference table and reception desk; new ceilings with varying elevations and architectural clouds; aluminum and glass office fronts, sandblasted glass walls and doors and curved glass; all new mechanical, life safety, security and pre-action fire protection systems; custom lighting and controls and extensive AV; Cherry wood/glass stile and rail center pivot doors and motorized window shades.
SunCoke Energy
SunCoke relocated from Tennessee to its new corporate headquarters in Lisle. SunCoke Energy has become the largest independent producer of high-quality metallurgical coke in the Americas. The new facility, a relocation of 32,000-SF corporate headquarters, features integrated materials used in their off-site production facilities into design elements of the space and an expedited schedule to allow tenant to vacate sooner to sign a sublease of their existing facility.
333 West Wacker Drive
This multi-phased project was composed of a lobby/plaza renovation as well as a nine-floor buildout for Nuveen Investments. The buildout portion consisted of 167,000-SF restack of national headquarters over a 24 month period including preconstruction and phased construction including swing space. It featured complex electrical needs and advance AV systems as well as custom high-end finishes including millwork, woodwork, wood flooring, marble and stone. The lobby renovation consisted of phased renovation of building lobbies and entrances with transom glass and storefront all with low iron glass; new granite flooring; new lighting systems; new white metal ceilings; upgraded HVAC systems; glass and stainless steel handrails in the south lobby; and new security stations and glass turnstiles.
Reed Construction has worked in Chicago for 119 years completing interior construction projects ranging from small tenant improvements to substantial corporate headquarter build outs. In the past year, the firm's revenue has increased nearly 30 percent with a 10 percent growth in staff despite the competitive market. Reed credits its success to the talented staff, all of whom value corporate social responsibility and philanthropy. The team believes that giving back is an integral part of a well-rounded business approach and fosters a sense of community within the organization. Highlights of the firm's success this year include the $3 million construction of a 30,500sf office build-out on for EVRAZ Group S.A., which relocated its U.S. operations and brought 70 jobs to Chicago's Aon Center at 200 E. Randolph (managed by JLL). The project was completed within an accelerated schedule and included 53 offices, open workstations and three conference rooms featuring walnut veneer wood and cowhide wall paneling throughout the space. CBRE was the project manager and The Dobbins Group provided architectural services. The $1.5 million 17,000sf build-out for Laughlin Constable located at 200 South Michigan in Chicago features an open, loft-like atmosphere with backlit wood pallet walls, tattoo floor paint designs, floor-to-ceiling walls and specialty lighting fixtures. Reed coordinated the extensive communication between the architect, Gary Lee Partners, and the subcontractors to ensure the integrity of the design and vision of the client were carried out cost-effectively and efficiently. Grubb & Ellis was the project manager. Reed also completed the 45,000sf, LEED Silver Outpatient Cancer Center for Rush University Medical Center. The project manager was Power Jacobs and Loebl, Schlossman & Hackl provided the architectural services. The environmentally sustainable center was officially dedicated in February by local dignitaries, and combines most of Rush's cancer care providers and services at a single location; thus establishing a new standard for patient-centered care. The space includes a chemotherapy area with individual treatment rooms, integrative medicine programs, consultation rooms, and numerous exam and procedure rooms. The center also includes a resource library, an educational conference room, and space for palliative care and pain management.
2011 has proven to be an outstanding year for Skender Construction. The company's interior division produced enormous results since its beginning including nearly 1 million square feet of work this year. With revenues at $90 million and more than fifty projects completed in the Chicago metropolitan area within the past year, Skender Construction has gained notable clients and continued to grow its dynamic business. Notable Projects: In 2011, JMC Steel Group moved its corporate headquarters to the Chicago Loop from Ohio. The company already employed approximately 300 manufacturing workers in Chicago. TIF funding over the next 10 years will also help bring more tax dollars to the city. The new 29,000 square foot office at 227 West Monroe was built on an extremely aggressive 12-week schedule. International architecture firm Gensler created a highly-branded interior environment by incorporating JMC Steel's manufactured products into the design. With very little time to spare, Skender Construction completed the project within schedule. Leica Microsystems' new North American Headquarters will bring approximately 300 new jobs and a new corporation to Illinois. The new office consolidates the company's Midwest Headquarters, repair and diagnostics center and an innovative training product rollout center into one open, collaborative space. The 70,000 square foot facility serves many stakeholders, from a sales force to massive pieces of scientific equipment. Reconfiguring a warehouse into a contemporary work environment comes with many challenges. Skender's planning and attention to detail ensured the budget and aggressive 15-week schedule was maintained at all times. In 2009, Mead Johnson Nutrition debuted as a completely independent public company. The company relocated its global headquarters from Evansville, Indiana to Glenview, Illinois. Skender Construction was responsible for the interior buildout of Mead Johnson Nutrition's new 35,000 square foot office. Featuring open, curved spaces with high-end finishes, Skender Construction's team performed preconstruction in only three weeks and managed construction under a nine-week schedule. Fast-tracking a commercial kitchen that is compliant with the IDPH presented some unique challenges. High-end finishes, unique artwork from and circular furniture required Skender to manage multiple vendors in a very short time span.
In 2011, HOK celebrated 16 years in Chicago and continued the tradition of developing innovative ways to provide value for our clients, while also contributing to the Chicago community. Our business strategy of fostering collaboration and diversity within our practice and prioritizing client relationships provided the foundation to support successful project delivery and stellar financial performance in 2011. Our design projects of note included: a major renovation for Allianz Global Corporate & Specialty‟s North American Headquarters space, which affected almost half of the company‟s Chicago real estate; a downtown Chicago relocation/expansion project for FirstMerit Bank; and a 21,000-square-foot Headquarters space for Tenth and Blake, a division of MillerCoors. Of particular note in 2011 was HOK‟s work for Tenth and Blake. The client‟s request that a Brewing Room and Pub be included as part of a traditional office environment created an added layer of complexity to the project. The design team embraced the challenge with enthusiasm and creativity and allowe office environment. following noteworthy accomplishments: HOK‟s Interiors practice in Chicago. d the project‟s programmatic goals to inspire development of a heavily branded, collaborative and dynamic In addition to our project successes, for HOK, the year 2011 was also characterized by the Unprecedented growth. With almost 4 million square feet impacted, a 40% increase in revenues and a 30% staff increase since last year, 2011 marked the best year ever for New programs to improve client service and enhance operational efficiencies. These new protocols facilitated better collaboration, regular client feedback, sustainability integration and the use of advanced technologies in project design. Industry and community involvement. HOK participated in industry organizations and activities related to NeoCon, IIDA, AIA, CoreNet, USGBC and IFMA. Additionally, HOK provided financial support and participated in local community groups and charities including Greater Chicago Food Depository, City of Hope, Youth Outreach Services, ACE Mentoring, Misericordia Home, Hearts A Blumh and the College of DuPage Foundation, among others. Thank you very much for your consideration in naming HOK “Interior Design Firm of the Year” as part of GCFD‟s 24 th Annual Chicago Commercial Real Estate Awards.
2011 has been another exciting year at Partners by DESIGN incorporated which is a direct result of a very talented and dedicated staff and the support and loyalty of our clients and Real Estate community. Each of the projects that we offer for submission speaks to PBD's entrepreneurial and collaborative nature. Navistar's 1.25 million-SF project in Lisle is now the World headquarter facility where corporate and engineering/design teams are united on one central campus. PBD renovated the existing campus including 9 existing buildings and construction of 2 new buildings. Over 3,000 jobs were retained and $800 million have been brought into the area because of Navistar's decision to remain in Illinois. The new campus has created synergy of various groups brought together that were previously housed over a number of locations. "They are a creative, passionate and energetic team to work with... PBD was committed first and foremost to the success of our project and did whatever was necessary to make it successful."-Don Sharp, VP and CIO, Navistar Coyote Logistics, 96,000-SF project in Chicago was the lynch pin needed for The Green Exchange Building at Diversey and 90/94 to move forward with development after standing dormant for years. Because culture is so important to Coyote, PBD worked closely with this fast growing Logistics Company to create a work hard/play hard space that is energetic, hip, inviting and dynamic. "PBD went above and beyond...delivered an end result that was better than we could have imagined." Marianne Silver, Chief Human Resources Officer HIMSS, 28,550 SF project at 33 West Monroe in Chicago was a relocation of their headquarters and interior alteration of an existing commercial office space. HIMSS culture dictated the space be collaborative, progressive, energetic, and creative. PBD's design concept evolved from this mission and resulted in new workplace standards and a unified architectural vocabulary which maintains consistency and creates a singular message in all locations. Additionally, PBD and its team members support a variety of community organizations such as City of Hope, IIDA's STITCH, Alzheimer's Association, Designs for Dignity, Harrington College of Design, IFMA and The Center for Enriched Living.
Perkins+Will is committed to providing innovative solutions while focusing on design excellence, sustainability, social responsibility, and client service. Three projects have been selected to demonstrate the diversity of our practice. The Confidential Trading Firm reflects an open work environment with the highest degree of amenities and flow. GETCO's hands-on design collaboration embraced a flexibility matched by our "kit of parts" solution. The building lobby at 333 W. Wacker is a grand entry to an iconic building, while leaving opportunities for branding.
Confidential Trading Firm, 350 N. Orleans, Chicago, IL, 75,000 SF
- Consolidation of organization onto a single floor plate. - Creating seamless flow and connection between multiple office functions. - Natural organic shapes create flow to uniquely integrate the firm's amenities. - Full food service area, state-of-the-art fitness center, and spa level locker rooms. - Rehab of existing building
GETCO, LLC, 350 N. Orleans, Chicago, IL, 100,000 SF
- Converted windowless data center space to a light-filled work environment - Green roof/terrace overlooking the Chicago River and skyline - Complex interior environment, with sophisticated infrastructure and enhanced flexibility. - Space functions as a building within a building with redundant power, stand-alone cooling and enhanced security. - Space is a working "kit of parts", with mobile work settings, reconfigurable offices, and rapidly adaptable technology infrastructure.
Building Lobby, 333 W. Wacker, Chicago, IL, 7,000 SF
- Design simplified visual vocabulary into more monolithic forms and surfaces, while introducing a much higher level of light from both natural and artificial sources. - Design of security system, tenant identifiers and wayfinding signage, entryway for the restaurant and conference center amenities, and redesign of elevator cabs and call lanterns - Aggressive redesign touched all aspects of space while sensitively elevating this iconic building We also work as educators and mentors in local colleges and high schools, and participate in important fundraisers for Chicago not-for-profit organizations such as DIFFA, We Care, the CREW Foundation, and City of Hope. We are involved in industry organizations such as IIDA and IIDC, and donate time to design environments for numerous not-for-profit institutions through our Social Responsibility Initiative.
The growth and complexity of our 2011 portfolio of work is a direct result of our commitment to client service and thoughtful communication strategies. We recognize the need to guide the client with clear processes, understandable deliverables, and measurable results. We understand the importance of strong communication with our clients and entire project team so we can all be successful. We excelled in 2011 by maintaining our lifeblood--our existing client relationships. The Pritzker Military Library project began by clearly establishing goals and directions through a Charrette/Vision Workshop--involving leaders from 10 cultural institutions across the country - to solidify the expectations of the museum and its visitors. With dynamic Millennium Park views, tvsdesign established the vision and design for the library's new home of over 50,000 items including books, periodicals, artwork and artifacts all to preserve and honor the Citizen Soldier. The complex programmatic requirements including a 120-seat, 2-story theater and state-of-the-art broadcasting facility, an oral history room, special collections areas and a three-story interconnecting stair were designed to integrate with the Monroe Building. This Library was designated as by Time Out Chicago as the #1 Museum and Exhibit destination in 2011! Leading the Wells Fargo clients through strategic workplace planning required a thoughtful and direct approach to quickly build consensus and address change management issues. The first phase of the 293,000sf Wells Fargo Chicago Consolidation project, the Wells Fargo Wealth Management office, involved presenting options for important decisions to accommodate the diversity of spaces. With cost control as a driver, the project features prominent design solutions for the Client Experience reception and conference areas balanced by cost conscious solutions in the general office areas. The reception and Client Experience areas offer panoramic views showcasing Chicago's impressive skyline. We continued our work with MPEA designing the Hyatt Regency McCormick Place Expansion and Renovation. We relocated the offices of the Chicago Convention and Tourism Bureau expanding our work with organizations focused on strengthening Chicago's economy. We are committed to industry and community activities and are persistent in our sustainable practices. We look forward to continuous success with new AND existing clients.
At Whitney, we believe our work can change people's lives for the better, whether designing a corporate facility or advocating for our favorite causes, like our pro bono work for Ronald McDonald House. We are proud of our continued growth in 2011. These projects provide a snapshot of our accomplishments. Acquisitions and growth forced Sikich into larger headquarters. Project goals: establish one unified image while creating a welcoming experience. An extensive, collaborative programming effort created buy-in across departments and helped manage cultural change, as employees would be transitioning to smaller, low-paneled workstations. Whitney developed a variety of collaborative spaces, including a large employee game room and gracious waiting area with hospitality bar. Technology was designed for maximum flexibility and connectivity. Furthermore, the new, consolidated location reduced vehicle use and provided connections to the community. The result is a sophisticated, professional space that fosters innovation and showcases their full range of financial services. Aluminum can manufacturer Rexam recognizes the value of preservation. Having identified sustainability as a priority throughout its worldwide manufacturing and office facilities, the goal for this project was LEED Gold, achieved through environmentally-friendly finishes, reused and refurbished furniture, energy-saving lighting, and low-flow plumbing fixtures. In addition to eco consciousness, the space needed to convey the company's brand while creating a contemporary, European aesthetic. An open concept fosters collaboration. Clean lines and cool color palette complete the theme. Light played a critical role throughout from daylight harvesting to unique millwork features. Whitney helped Polsinelli Shughart with their 2009 relocation, but steady growth forced expansion in 2011, with the added goal to improve collaboration. An expansive lounge with city views provides a variety of meeting and entertaining spaces. The team was challenged with creating a rich, sophisticated environment on a limited budget. Rigorous value engineering helped maintain the client's vision and control costs. The project included a locker room to encourage biking to work, and the convenient location near public transportation further reduces environmental impact. The juxtaposition of modern and classic reflects both the firm's rich history and youthful culture while the emphasis on well-being will help attract and retain talent.
Wright Heerema Architects' integrated architecture and interior design approach has differentiated them in the industry, and warrants consideration and recognition for the Interior Design Firm of the Year. 2011 marked the firm's 15th anniversary and they have continued to serve their clients with utmost responsiveness and design excellence. The underlying theme among each project is WHA's commitment to their clients. 2011 projects include: Lifesource WHA completed a complex office and blood testing center for this non-profit. Having outgrown their space, Lifesource sought a state-of-the-art facility to expand their operations and better service the community. Lifesource purchased a LEED® Silver building in Rosemont to relocate their headquarters. The new facility allows them to conduct over 600,000 tests annually to ensure safe blood supply. Henricksen is entering their 50th year in business and desired a flagship office to celebrate their successes, and reinforce their culture. The design intent was to create a tension between "the old" and "the new". Very raw materials are exposed against very polished materials and modern and bright European light fixtures. The functioning workplace also serves as a showroom for their product lines and to entertain clients. The new paradigm for collaboration in the office is illustrated through the use of several different work settings. When Magellan sought a new office space they wanted to reinvent their company and provide an environment to entertain clients. The client area is designed to function together with the board room being adjacent to the living room, break room and reception area. The sea trading firm has multiple departments including administration and a trading room. The trading room is designed to be collaborative with flexible expansion options. Technology played an important role in the development of this office with the ability to control the board room with an ipad. WHA is committed to the local community through firm and staff involvement in various charitable initiatives and organizations. As a local Chicago-based firm, Wright Heerema Architects has emerged as a leader in the interiors market serving many Fortune 500 and global companies, and deserves recognition as Interior Design Firm of the Year.
Dan Cohen joined CBRE in 1992 as a member of the Investment Properties Group. He has consistently been recognized as a Top Investment Specialist in the Midwest year after year. Mr. Cohen's accomplishments include a multitude of urban high-rise complexes and suburban garden-style community sales. Additionally, Mr. Cohen, a Senior Vice President, is well versed in affordable and bond financed apartment transactions. He has completed apartment sales in excess of $4.0 billion of consideration in eight states. John Jaeger, also a Senior Vice President in CBRE's Investment Properties Group, focuses on major institutional multi-housing opportunities in the greater Chicagoland marketplace. Joining the firm in 2005, Mr. Jaeger brings extensive multi-housing experience to CBRE, establishing a reputation with multi-housing developers, equity investors and financial institutions. Since John has joined CBRE, he has been involved in over $3.0 billion of sale transactions. Together, the Cohen and Jaeger Team has over 40 years of brokerage experience, providing clients with the industry's cutting edge underwriting, marketing, market analysis and due diligence knowledge. Since 2005, they have together completed 83 market rate and affordable multi-housing sales nationwide, totaling over $3.25 billion. The team closed 13 transactions in 2011, totaling $900 million in sale proceeds. Highlights included One Superior Place closing for $320 million in May 2011, one of the largest sale transactions in the nation. They also sold 5 additional high rise assets, including City Front Place, 505 North State, 1212 South Michigan, 533 West Barry, and Silver Tower located at 303 West Ohio. John Jaeger and Dan Cohen completed the recent sale of EnV, an ultra-luxury boutique high-rise residential tower in the heart of Chicago's River North neighborhood. EnV was the first LEED Certified residential building in the city of Chicago. With interior features mostly reserved for luxury residences, EnV set new standards for Chicago rental buildings. The team also participated in four suburban transactions, ranging from 280 to 415 units in size, with the largest deal approaching $60 million. During 2010 and 2011, John and Dan's CBRE Multi-Housing team held the #1 market share in the Chicago MSA, based on total transaction volume.
Colliers International's Chicago-based Industrial Investment Services Group is composed of three real estate professionals that have worked together for nearly 17 years. The team's niche is institutional grade, Chicago-area product. In the last four years, they completed 36 transactions in the Chicago area totaling approximately nearly 38 million square feet with a value of $2.2 billion. Industrial investment sales surged nationally during 2011 with Chicago leading the nation in sale volume. The Colliers team was the primary conduit of this heavy-volume year closing 15 of the 27 industrial investment sale transactions over $10 million. The Colliers team's dominance of this market was demonstrated with 53% of the sales volume for transactions over $10 million. CBRE was the next closest competitor at 23% of this market segment. Their Colliers team's production is summarized as follows: 15 Chicago-area investment sale transactions $563,007,888 in aggregate value
9,578,312 square feet sold In addition to the volume leaders in their segment, the Colliers team achieved significant results on behalf of its clients in 2011. They achieved the 3 lowest industrial cap rates of the year culminating in the first "sub-6" cap rate sale in December 2011': a 5.73% cap sale of a Samsung warehouse for Pizutti Companies. Additionally, their three-phased, seven-building sale from Northern Builders to Heitman was the largest transaction of the year in terms of total value; their $31 million sale of a three-building portfolio for CenterPoint Properties was the NAIOP Industrial Investment Transaction of the Year. 2011 major transactions include: Northern Builders Portfolio 2,320,948 SF $139.0 million HSA / Bridge Portfolio 1,434,366 SF $101.6 million Ridge Realty Industrial Portfolio 1,013,395 SF $58.0 million Panattoni Chicago Portfolio 796,049 SF $51.5 million Panattoni's John Pagliari had this to say about the Colliers team: "I have enjoyed a long history with this team, and have always been highly impressed with their market knowledge and ability to 'tell it like it is' with an astounding level of accuracy. The team is consistently the leader in industrial sales volume in the Chicago area and is the most reliable source of capital market activity and industrial property values."
Eastdil Secured is a real estate investment banking company that uniquely combines capital markets expertise with a deep understanding of real estate fundamentals to execute a wide range of real estate transactions. The Team focused its attention on both CBD and suburban assets in 2011 and closed on 233 North Michigan, Three First National Plaza, Caremark Towers, and 35 West Wacker. As a testament to its local dominance, Eastdil Secured's market share far surpassed the competition having transacted roughly 68% of all closed and marketed CBD investment sales. The Team has also proven itself as the market leader in bringing new sources of capital to Chicago. Eastdil Secured takes pride in its ability to provide clients with unmatched guidance and knowledge throughout the Chicago market.
Jaime M. Fink and Jeffrey M. Bramson lead the Holliday Fenoglio Fowle r, LP (“HFF”) Office Investment Sales Team. In 2011, HFF‟s Office Investment Sales Team arranged the sale of 7 Chicago area properties totaling 2.8 million square feet and $692 million in value. The team specializes in the disposition and recapitalization of investment real estate as well as multi market portfolios. Their 2011 client list includes Blackrock, Golub, Behringer Harvard, and Pearlmark among others. HFF is one of the country‟s largest commercial real estate capital intermediaries, and the only firm that provides its clients with a complete menu of capital solutions for each assignment from its integrated platform of debt, investment sales, structured finance, private equity, note sales and loan servicing. HFF‟s primary challenge in 2011 was to achieve record-breaking pricing for their client 600 West Chicago Associates LLC on the single largest office tower sold in Chicago during 2011. 600 West Chicago is another excellent example of HFF‟s creativity in structuring financial solutions for sellers and buyers. In this transaction, HFF represented 600 West Chicago Associates LLC in the sale of the 1,571,386 RSF office building to CommonWealth REIT. The sale price of
$390,000,000 ($250 per RSF) was also the largest transaction north of the Chicago River. The property was encumbered by an existing mortgage that has an above market interest rate which created an additional challenge in today‟s low interest rate environment. HFF was able to create a sale process that allowed the buyers to understand the value of the asset and assume the mortgage, thereby eliminating the need to defease the loan and avoid a substantially large loan prepayment cost. Ultimately, HFF generated numerous offers, including the ultimately successful bid of $390 million from a REIT as well as back-up national and international buyers. The 600 West Chicago office building is the largest building by size to sell in 2011. CommonWealth REIT completed their purchase of 600 West Chicago in August 2011.
The Jones Lang LaSalle investment sales team of Bruce Miller, Jim Postweiler, Jascint Vukelich and Nooshin Felsenthal triumphed over adversity in 2011. In this global economy, each deal presented a unique set of challenges, including but not limited to capital financing, high vacancy rates and the creditworthiness of tenants. But this seasoned team of brokers persevered, using cutting edge marketing and problem solving skills to sell $275 million of commercial office space. Their deals included one of the city's most iconic properties, the Wrigley Building, as well as one of the most expensive, 55 W. Monroe for $136 million. WRIGLEY BUILDING: Regarded as one of Chicago's most iconic properties, this Michigan Avenue complex faced major challenges as the owner contemplated a sale: a need of significant capital to modernize the building and a high vacancy rate. It was going to take a special buyer--and the team found one; a local investment group that not only welcomed the vacant space as an opportunity but also had deep pockets to modernize the 460,000-square foot building. 55 WEST MONROE: The 40-story high-rise was only 75 percent leased, and the capital markets were in lockdown after S&P downgraded the U.S. credit rating in August. But amid this turmoil the team found a buyer and arranged financing for them. OAK BROOK REGENCY TOWER: Despite a tough suburban office market, the team found a buyer for this older 402,000 square foot asset by tapping its vast network of contacts and underscoring the building's prime location and low vacancy rate in its marketing. Even after the first buyer lost their equity structure, the team found a new investor. 909 DAVIS STREET: Another real estate firm had unsuccessfully tried to sell this Evanston high-rise before Jones Lang LaSalle took over. Potential buyers had expressed concern about the creditworthiness of the building's largest tenant, a textbook publisher. But through its due diligence the team learned the publisher's business stood to improve as it invested in digital technology, and found a buyer to pay $35 million, the highest price in that northern suburb in 2011.
Richard Drogosz heads the Mid-America Real Estate Investment Sale Team ("MAREIST"). Rick was a finalist for the Investment Sale Broker of the Year award in 1998, 2000, 2005 and 2010. He has been a partner at Mid-America Real Estate for 11 years and previously worked at Grubb & Ellis, JMB Institutional Realty and Arthur Andersen.
Benjamin Wineman has been with MAREIST since 2001 and became a partner of Mid America Real Estate in 2010. Ben was a finalist for the Investment Sale Broker of the Year award in 2005 and 2010. Ben previously worked with LaSalle Investment Management. Joseph Girardi has been with MAREIST since 2004 and is a partner in the investment sales group, focusing his time on business procurement and execution. Joe was a finalist for Investment Sale Broker of the Year in 2010. The Team's sole focus is the disposition of shopping centers throughout the Midwest on behalf of public REIT's, Institutional Investors, and private real estate companies. The knowledge base that results from the diversity of the team members, along with the Team's strong work ethic, has propelled them to the forefront of the retail disposition discipline. MAREIST has been responsible for the sale of approximately $5.5 billion in retail properties since inception. Highlights from 2011 In 2011, MAREIST was responsible for the sale of 44 properties with a market value of approximately $400 million. Specifically within the Chicago MSA, MAREIST sold 14 properties with a market value of approximately $250 million, comprising over 1.4 million square feet. Although other investment sale teams can likely boast larger transaction market value, it is unlikely that they can match the volume of transactions completed by MAREIST during 2011. In summary, MAREIST warrants serious consideration for Investment Broker of the Year given our unparalleled retail knowledge coupled with the significant volume of transactions performed in 2011.
Eastdil Secured is a real estate investment banking company that uniquely combines capital markets expertise with a deep understanding of real estate fundamentals to execute a wide range of real estate transactions. In 2011, the Eastdil Secured team completed four of the most high-profile loan sales in the Chicago area that in aggregate totaled over $378 million in value. Eastdil Secured's 2011 loan sales included the Willis Tower A and B note sale (CBD office), The Arboretum of South Barrington loan sale (retail), the Columbia Centre I, II, and III loan sale (suburban office), and the Mondial loan sale (CBD Multifamily). The Team provided its clients with unmatched guidance and execution and demonstrated its unique expertise across multiple product types.
Lisa Konieczka, Executive Vice President at CBRE, focuses on strategic thinking that incorporates client's needs and market dynamics. She is a strong team leader with the ability to integrate multiple resources and disciplines to motivate everyone toward common goals for the client. She works tirelessly to protect her client's needs, while providing a collaborative negotiation process that paves the way for strong tenant-landlord relations. Such work ethic and approach has led Ms. Konieczka to remarkable success in 2011. Ms. Konieczka is accomplished at identifying "off-market opportunities" that can provide unique solutions for her clients. Several of her larger transactions in 2011 were excellent examples of pairing off market opportunities, with client needs to save her clients money and improve their real estate situation. Some 2011 highlights include: SEIU HCII SEIU needed to identify a new Union Hall HQ that focused on specific needs of its membership, while maintaining a very cost effective solution for the union. Ms. Konieczka and her team identified an un-renovated property well outside the CBD that satisfied all of SEIU HCII needs and could be expanded to meet their meeting and parking needs. This property is undergoing a complete renovation and expansion to house SEUI HCII for the foreseeable future, providing extensive enhanced resources for its membership. Bankers Life and Casualty Company BLC's space utilization needs had changed since its occupancy at 600 West Chicago, but on the surface, its long term lease didn't offer much flexibility. Ms. Konieczka and her team were able to identify another tenant within the building that was willing to sublease BLC's premises and allow BLC to relocate into new office space at 111 East Wacker that offered significant upgraded office environment, reduction in expense and improved access to commuting and amenities for its employees. In addition to Ms. Konieczka's many nonprofit board positions, she is the founder and chairperson of CBRE's Women's Network and a member of CBRE's Diversity Council. This organization provides professional development, networking, and educational opportunities for CBRE's female employees.
Dan Arends, a Principal with Colliers International, has over 20 years of experience and has been involved in more than 1,000 assignments totaling over ten million square feet of leasing transactions in his career. Over the last several years, Dan has consistently been one of the top tenant representation brokers in Chicago, being a finalist for Office Broker of the Year three of the last five years. In 2011, Mr. Arends represented clients in 39 office transactions in the Metropolitan Chicago area totaling approximately 327,754 square feet, and was involved in over one million square feet of transactions elsewhere nationally. Mr. Arends assisted 15 clients who had in excess of two years left on their lease and saved them in excess of $8,000,000. He represented a myriad of other large corporate users including Elkay Manufacturing, Securitas Security Services, Inc., Midwest Orthopedic, Fellows, Inc., Fort Dearborn Company and McGladrey. Three of his most unique transactions were: PrivateBank - Mr. Arends assisted PrivateBank in expanding their downtown headquarters by 57,200 square feet to 200,949 square feet, which allowed them to achieve
their plan of occupying the first eight floors of 120 S. LaSalle Street. Mr. Arends also renegotiated PrivateBank‟s renewal option, reducing their rental rate on their existing renewal option and restructured their expansion options to allow PrivateBank to have contiguous expansion rights for the foreseeable future. TravelCLICK - Mr. Arends demonstrated to them how they could effectively reconfigure their space and reduce their space by 4,412 square feet down to 36,414 square feet, while successfully renegotiating their lease two years early. ARDC - Mr. Arends spent over two years helping the Attorney Registration and Disciplinary Commission restructure their lease so that they could retrofit their space that had not been renovated in over 20 years. This allowed them to enhance their technology and transform their workplace four years prior to their lease expiration. During a year where many companies experienced the increasing negative effects and uncertainty from the economic recession, Mr. Arends consistently uncovered opportunities for his clients to enhance their work environment and reduce their bottom line.
The Jones Lang LaSalle team of Bill Rogers, Jeff Liljeberg, Steve Steinmeyer and Matt Carolan turned in another blockbuster performance in 2011, completing 55 deals totaling 2.2 million square feet and valued at more than $565 million. The team tapped into a vast array of resources, drawing on their strategic, financial, negotiating and market expertise to consistently achieve optimal results for their clients. Major transactions completed by the team in 2011 include: Wells Fargo's new lease for 293,000 square feet at 10 S. Wacker Drive, which was the second-largest to be completed in the Chicago CBD in 2011 and the winner of NAIOP's "Downtown Office Deal of the Year"; PricewaterhouseCoopers' renewal of a 278,000 square feet lease at 1 N. Wacker that was the city's fourth-largest lease of the year; McKinsey & Company's new lease of 85,000 square feet at 300 E. Randolph; Harris Bank's purchase of a 330,000-square-foot building in Naperville the largest user deal in the suburbs in 2011; Cole Taylor's bank's renewal and expansion of a 115,000-square-foot lease in Rosemont (one of the top 10 largest suburban deals of the year) The relocation of Tate & Lyle's corporate headquarters from Decatur to a 110,000-square foot space in Hoffman Estates (another of the year's top 10 suburban deals); A 50,000 square foot data center lease in Northlake for Walgreens that was the largest data center deal done in Chicagoland in 2011; A 22,000-square-foot data center lease for Comcast that was the second-largest data center lease in Chicagoland in 2011; DeVry's new lease of a 77,000-square-foot space at 300 S. Riverside Drive; Bryan Cave LLP's renewal of a 62,000-square-foot lease at 161 N. Clark; Hostway's lease of a 52,000-square-foot space at 100 N. Riverside; SunCoke Energy's new HQ lease of a 32,000-square-foot space in Lisle; A variety of additional data center lease deals for clients such as Computer Associates, Interactive Data and Ronin Capital. More than 20 additional deals in Chicago between 5,000 and 20,000 square feet for such companies as IDC, the Sun-Times, Alexian Brothers and numerous trading firms.
A tenant in the market for Chicago real estate advisory services in 2011 would have been hard-pressed to find a brokerage team with a more diverse roster of projects than Joe Learner and Robert Sevim. The renowned Studley duo with a collective 33 years' experience in tenant representation has a long history of game-changing deals. But they outdid themselves in 2011, amassing 32 Chicago-area transactions valued at greater than $308 million and totaling over 1.1 million square feet of office space and 12 acres of land. From corporate headquarters relocations to early lease restructurings, subleases and build-to suit projects in both the downtown and suburban Chicago markets, the breadth of the Learner Sevim team's expertise is inimitable. This past year, they were responsible for four of the largest 20 downtown headquarters leases and two of the largest 10 suburban headquarters leases a claim few other tenant representatives could make. Among those chart-topping deals was a complex early lease restructuring for Accenture's flagship Chicago office, where the duo negotiated a seven-year extension with the following provisions: 1. Immediate giveback of 40,000 square feet, four years prior to lease expiration (valued at over $6M) 2. An allowance to retrofit the remaining space 3. 40,000 square feet of additional flexibility to downsize, with additional concessions if Accenture keeps some of the flexible space Soon afterwards, the team completed another complex project for Lawson Products, culminating in the company's first relocation in over 35 years, a below-market rental rate, multiple growth options and an above-market abatement and tenant improvement package. Other notable 2011 deals were completed on behalf of the American Bar Association, Integrys Business Services and Armour-Eckrich Meats, and many others. In their decade of partnership, Learner and Sevim have been instrumental in making Studley's Chicago office among the most profitable within the firm's international portfolio. They are two time GCFD "Office Broker of the Year" nominees and three-time finalists for NAOIP's "Suburban Office Transaction of the Year." Sevim also serves on the GCFD real estate steering committee annually and was its 2009 chair, while Learner is a former Crain's Chicago Business "40 Under 40" honoree.
Jeff Mann specializes in the leasing of west suburban Chicago office buildings. He has completed 32 transactions for a total of 853,262 SF over $94.5 million in value. Mr. Mann is one of CBRE's top landlord representatives and consistently involved in the market's largest transactions. His enthusiastic approach and attention to detail has produced results for his clients that outperform the market. In recent years, Mr. Mann has completed several leases or sales each in excess of 100,000 SF. He was involved in three of the largest transactions in the E-W Tollway marketplace that either retained or attracted over 2,500 jobs to the area. By implementing and creating aggressive marketing strategies, Mr. Mann increased the average occupancy in his building representation assignments from 66% to 82% in 2011. Renewal of Travelers Insurance at Park Plaza in Naperville- Travelers occupied 133,987 RSF with a lease expiring in 2013. They needed to make their space more efficient, obtain capital from the Landlord for tenant improvements including furniture, fixtures and equipment, as well as assign a sublease from a division that was spun off. The Landlord needed to retain Travelers to keep their anchor tenant from relocating in a market with more than a 20% vacancy rate. A transaction was structured to allow Travelers to re-stack portions of their space and reduce square footage from 133,987 to 121,894 SF. The space reduction was increased over time, thus allowing the Landlord lead time for releasing. A "win-win" deal was struck restructuring the rent, size and providing capital in return for a long-term commitment to the building.
Steve Kling and Francis Prock have cultivated a highly successful 18-year partnership and currently oversee the leasing of an 18 million-square-foot suburban office portfolio. The team had a hugely successful 2011, completing 88 transactions totaling 1,859,443 square feet with a value of $387,801,472. They completed the three largest suburban transactions of 2011 and six of the top 10. The team has completed 19 transactions greater than 50,000 square feet in the past 18 months. 2011 transactions include CVS Caremark (266,000 square feet); ACCO Brands Corporation (172,000 square feet); and Sysmex Americas (162,000 square feet). At Continental Towers in Rolling Meadows, after being hired by a special servicer, they negotiated 13 transactions totaling 243,000 square feet in the past 12 months. Two of their 2011 transactions stand out for their creative approaches. The team negotiated a 106,000-square-foot renewal to AT&T at Four Woodfield Lake as it was considering a relocation and consolidation. In a market approaching 30% vacancy, the team convinced AT&T to stay by engineering a complicated transaction that addressed two termination options that were three years apart. AT&T achieved cash flow gain over the lease term through a rent reduction, while the owner gained a AA+ credit tenant for a fixed 10-year term and the flexibility to either hold or sell its core single-tenant asset. Caremark was leasing 650,000 square feet across six suburban locations, the largest of which was at Caremark Towers. Caremark decided to consolidate seven locations to five. The Colliers team needed to meet the financial demands of a tenant that was leasing ¾ of the property in a weak market while also increasing the value of the property. Caremark signed a
266,000-square-foot lease renewal, giving the owner a significant long-term tenant, while Caremark benefited from a sizable occupancy cost reduction. Greg Lauze, Director at Colony Realty Partners, had this to say about the Colliers team: “Steve and Francis are always thinking about what is best for the building long term. Our buildings represented by this Colliers team have consistently outperformed their competitive set throughout the economic downturn.”
In 2011, the JF McKinney & Associates leasing team of Brian Whiting, Jack McKinney Jr., Mark Bâby and Matt Pistorio accomplished the year's most frenetic leasing effort in Downtown Chicago. Highlighted by the Bankers Life & Casualty and Devry transactions, the team leased over 1,000,000sf of space across six buildings that also included 180 North LaSalle, 111 West Jackson and 311 South Wacker. The Bankers Life & Casualty transaction (134,000sf) was a complex, multi-party deal that immediately back-filled 60% of the impending 230,000sf of Blue Cross Blue Shield vacancy at 111 East Wacker without rental downtime and at net rents significantly higher than BCBS' previous in-place rent. Similarly, the Devry transaction (77,000sf) mitigated 75% of recently canceled Chase space within only several months of Chase's 103,000sf partial termination notice to landlord. Both deals created significant value to the respective landlords while also proving critical to the re-stabilization of each asset's tenancy. Both relocations brought hundreds of new jobs to Downtown Chicago. Impressively, the JF McKinney team's two largest lease transactions Bankers and Devry comprised just below 20% of its total square footage leased for the year, meaning that an additional 800,000sf of additional leasing was executed. To achieve this substantial transaction volume, the team mapped-out comprehensive marketing strategies in response to the unique set of challenges posed by each building and then employed sophisticated deal making and successful collaboration between ownership, tenants and brokers to both create and sustain leasing momentum. The best evidence of this formula in action is 180 LaSalle. With JF McKinney's guidance, ownership efficiently deployed capital toward an excellent new amenities package, infrastructure upgrades, common area improvements and approximately 100,000sf of new furnished spec suites, all of which were complemented by a fresh marketing campaign that rejuvenated the building's tired image overnight. By the end of 2011, JF McKinney leased over 186,000sf, increasing the building's occupancy to 87% (from 68% upon assignment) and making it a highly attractive option for a wide range of tenants, including forward-thinking tech and marketing/advertising firms such as Digitas, which had been previously considered off-limits.
Despite a sluggish leasing market, the Jones Lang LaSalle landlord representation team of Steve Smith and Mike Curran recently concluded yet another blockbuster year on behalf of their client, Piedmont Office Realty Trust. The team completed lease transactions totaling more than 800,000 square feet at Piedmont's two trophy office properties in Chicago ― Aon Center and 500 W. Monroe.
This number included the headline-grabbing 372,000-square-foot renewal and expansion of anchor tenant GE Capital's lease at 500 W. Monroe ― the largest office lease transaction completed in Illinois in 2011 ― as well as an impressive 239,000 square feet of new leases at Aon Center. The Aon Center leases were completed for blue-chip tenants including the steelmaker Evraz (35,000 square feet), a confidential health insurance provider (55,000 square feet) and People's Gas parent company Integrys Energy Group (150,000 square feet). In addition, Smith and Curran also inked long-term lease renewals/expansions with two longtime tenants ― Edelman (178,000 square feet) and Associated Bank (12,000 square feet) ― and are currently finalizing a long-term renewal/expansion with the building's anchor tenant, Aon Corp. These deals have fully stabilized the building in the wake of the 2009 departure of Kirkland & Ellis (whose lease actually expired on 12/31/11). The ability to avoid any significant down-time from that defection was perhaps the team's most significant accomplishment in 2011. This entire extraordinary effort took place despite a variety of obstacles including: continued trepidation by many tenants to relocate to the East Loop, an uncertain economic environment, and the aforementioned uncertainty that arose when Kirkland & Ellis announced that they were leaving the building. The team's outstanding performance in the face of such adversity was a key factor cited by Piedmont when they awarded the Jones Lang LaSalle team the exclusive leasing contract for their 500 W. Monroe building this past summer. Wining this new assignment ultimately enabled the team to secure the long-term lease renewal and expansion by GE Capital. This complete body of work is indeed a true affirmation of the team's long-held reputation as one of our industry's most dedicated, creative and tenacious leasing teams.
Tom Saletta has been a Property Representative in Chicago for 23 years. Tom is a Principal at White Oak Realty Partners, LLC and handles the leasing of the companies office assets under his company, Saletta Commercial Realty LLC. Over the last 23 years, Tom Saletta has been involved in negotiating over 300 lease transactions totaling over 3 million square feet with a combined lease value of approximately $825,000,000 in both downtown and suburban Chicago. Over his career, Tom has negotiated some notable new building anchor tenant leases with USG (331,523 RSF), Quaker Oats (325,000 RSF), Zurich American Insurance (300,034 RSF) and AT&T Broadband (98,100 RSF) which combined totals over 1 million square feet in 4 new buildings. In 2011, Tom negotiated 17 lease transactions totaling 255,830 rentable square feet ("RSF") with a total lease value of $61,306,525. These leases all took place at Central Park of Lisle I & II and at Columbia Centre I, II & III. Among the lease highlights are 3 significant new lease transactions at Central Park of Lisle in excess of 172,000 RSF with Computer Associates (83,474 RSF), Armour-Eckrich (71,479 RSF) and Farmers Insurance (17,378 RSF). These 3 leases alone represented a 22% occupancy increase at Central Park of Lisle I & II. At Central Park of Lisle, Tom solely leased 205,176 RSF of which 174,621 RSF was new or expansion space and 30,555 RSF was renewal space. At Columbia Centre I, II & III, which Tom began leasing on August 9, 2011 when the building was purchased by White Oak, Tom leased a total of 50,654 RSF of which 26,931 RSF is new or expansion space and 23,723 RSF is renewal space.
Tom's ability to negotiate complicated lease transactions was evidenced with the 255,830 RSF of leases he completed last year but most notably with the success completion of the Computer Associates, Armour-Eckrich and Farmers Insurance leases. These leases involved complex negotiations involving early lease buy-outs, Village approvals / permits for parapet signage, outdoor play areas and generators, Landlord turnkey construction time frames and may other lease provisions rights.
In 2010 Tishman Speyer learned that Wells Fargo had a requirement for approximately 293,372 sq. ft. for a time phased occupancy between 2011-2013. The opportunity to aggregate multiple business units within a single location and establish a major branding position was a primary driver. It's requirements were contiguous space, prominent building signage, a retail area, and a preferred West loop location. The Tishman Speyer leasing team quickly identified 10 & 30 South Wacker as a very viable location. Although the location and branding opportunity made this site extremely attractive to Wells Fargo, the process to compel each of the five separate business units was the biggest challenge for Wells Fargo. On the ownership side, the renegotiation of third party tenant rights related to signage and contiguous office space, delayed occupancy dates and mapping of initial and future space for Wells Fargo were primary challenges. We worked first on creating 293,372 sq. ft. of office space for its use (it is important to note that two leases were completed in 2010 that encumbered a portion of the remaining vacancy). While not completely contiguous, we were able to assemble large blocks of space in the building through tenant relocations. We were able to create large blocks of space that accommodated autonomous business groups with proximity to the main banking components. In order to provide prominent identity for Wells Fargo, we had several meetings with the building's largest tenant, the CME, due to their lease restrictions with signage. After many face to face meetings with Wells Fargo and the CME, we were able to negotiate acceptable signage and identity for Wells Fargo while satisfying the CME. We also provided a lobby space for the iconic Wells Fargo stagecoach. Without any retail vacancy and with Chase Bank retail restrictions, we created 1,000 sq. ft. of lobby space at 10 S. Wacker that was previously an exit stairwell. On April 19, 2011 a new lease for 293,372 sq. ft. with Wells Fargo was completed. The lease negotiation involving JLL, Wells Fargo, Tishman Speyer and CME required creative strategies and multi-level cooperation throughout the entire process.
CBRE Project Management (PJM) is showcasing three projects all located at 155 North Wacker Drive. Like the building itself, these three projects represent some of the highest quality buildouts completed in the City, but with a consistency to approach driven by PJM for three very different clients. All three of these projects were highlighted in last summer's IIDC project tour, which included over 200 people. Jefferies & Company, Inc.: With a lease expiring, the schedule presented the biggest challenge for this project's success by having to complete programming, design, construction, furniture installation and move in a five month time frame, as well as decommissioning their existing space. The schedule was fast, but the budget was fixed. Leveraging both PJM's relationships as well as those from Jefferies in New York, the project met its completion date. Despite schedule cost premiums, the project was still delivered at more than $320,000 under the total budget. University HealthSystem Consortium (UHC) was in search of an image change in all manners possible. In addition to location, they wanted to change the physical office and how it allowed and supported their employee's work styles and employee recruitment. UHC achieved their goals, thanks to the project team, assembled and lead by PJM. With a high-end build out, under intense schedule parameters and with phased moves, all levels of change management were applied to this project. Cressey & Company: PJM was involved with initial site analysis through completion allowing for a maximum value add opportunity for our Client. Due to a delay in the city's permit review process and coordination with the construction of the anchor tenant of the building, along with numerous Client changes, the Project Schedule nearly collapsed. Thru keen Lease review/negotiations alongside our Brokers, PJM aggressively negotiating a reduced fee with our Contractor, offering cost-saving and waste-reducing alternative by re-using existing furniture, and holding all involved parties accountable for meeting their obligations, the result was a value creation worth 240% of our fee. We met our schedule, delivering a high-end space conveying the successful image of Cressey, while avoiding holdover at their previous office.
The MB Real Estate Project Management team has performed exceptionally well for its many clients during 2011. In a downtime in the market, the team has been extremely active with more than 28 projects valued at more than $400 million. During this time, the team saved their clients more than $5 million in construction-related costs, as well as created more than 1,000 construction-related jobs in the industry. Astellas Pharmaceutical North American headquarters A 440,000 square foot build-to-suit, two-building development anchoring the Pharma Corridor along I-294. The project will be LEED-NC Gold and includes a significant geothermal installation that can heat/cool the facility and significantly reduces the carbon footprint. This project also won Office Development of the Year from NAIOP. Command Transportation headquarters This is the final phase of the expansion that has allowed Command Transportation to double its capacity from 220 to 440 staff members. This project was a complex ground-up development and tie-in to its existing facility. All of this work
was completed with no interruption to the company's operations. The project was completed on-time and under budget. Coyote Logistics headquarters The 106,000 square foot multi-phased project was completed on-time and under budget. The project required significant coordination with the completion of the base building, which was done by the landlord, and extensive emergency power back-up for the high-density broker and IT space was required. It was also critical to create exciting vibrant, flexible and dense space. Coyote Logistics recently won the Crain's Chicago Best Place to Work in 2011 for a mid-sized company. As testament to the quality of the team's work, all three projects highlighted resulted in additional projects: Coyote Logistics has now expanded into a fifth phase, expanding its new headquarters; Command Transportation just completed its fourth phase; and Astellas hired the team for an office expansion and data center in New York, construction of three new labs also in New York and a new QC lab in Sao Paulo, Brazil.
Since 1983, The John Buck Company has been providing property management and leasing services to internal and third party clients. It has always been JBC's philosophy to give personal attention to our customers above all else by providing best-in-class services while maintaining a deep knowledge of building operations and product leasing. JBC engages The Ritz Carlton Leadership Center to provide customer service training to all management teams, including employees of service providers, annually. By including management staff and all front line personnel (security, engineering, janitorial), customer service becomes an integrated goal between JBC and its service partners. JBC's direct approach to tenant relations is validated through the annual results of the tenant and client satisfaction survey where, in 2011, our management teams consistently score higher than the industry index in every category and received near perfect scores for tenant satisfaction. At JBC, we pride ourselves on the ability to continuously improve and stay in front of market trends to ensure our buildings are managed most efficiently. Management teams remain diligent in identifying innovative solutions for energy savings such as the installation of controllers on common area lighting at 155 N. Wacker, allowing the building to maximize natural light while shedding energy usage and cost, as well as creative methods for waste disposal including the newly-instituted composting program at 111 S. Wacker. The John Buck Company is committed to the social and environmental well-being in our community. JBC serves as a community leader and supporter of the green building movement. 111 South Wacker, a JBC developed and managed property, is one of rare buildings in the City with dual LEED certification for core & shell and existing building operations & maintenance. Relative to our size, JBC's community involvement and impact is unparalleled. The John Buck Company Foundation distributed nearly $700,000 to Chicago area charities in 2011 alone. JBC's 23rd annual Spring Fling raised over $585,000 for Urban Students Empowered and The John Buck Company Foundation, the 2011 primary beneficiaries. Over 85% of the JBC employees served on the planning committee and volunteered the night of the event.
CBRE continues to enhance its reputation for excellence in property management within Chicago. In 2011, the Group achieved great success in securing new premiere properties in the Chicago market, growing its overall portfolio of managed properties and exemplifying superior building quality and management practices. CBRE's Property Management stands apart by delivering visible, quantifiable results for the properties and portfolios entrusted to us. 2011 Achievements: - CBRE's focus on a value added approach to property management resulted in positive growth of the firm's portfolio of managed properties. During the year, CBRE was awarded over 4.6 million square feet of new assignments within the Chicago area including the prestigious Equity Office Management portfolio totaling 2.4 Million square feet of Class A office buildings. - CBRE managed properties were recognized with numerous awards in 2011. The firm won 5 BOMA Office Building of the Year "TOBY" Awards, giving the firm an unprecedented 58 TOBY's since 2002 in the Chicago market. Additionally, four CBRE managed office buildings in
downtown Chicago were recognized by Mayor Richard M. Daley for their environmentally efficient operations at the Chicago Green Office Challenge Awards. - CBRE has also partnered with ComEd and Sieben Energy in support of several ComEd funded energy audits in 2011. Three significant downtown assets were re-commissioned that successfully resulted in reduced energy demand for our clients. At 311 South Wacker alone, a total 1.36 million KWH were reduced as a result of our retro-commissioning project. This bodes well for reducing our tenants' and clients' operating costs while promoting green initiative. - CBRE has achieved great success in growing our philanthropic activities in all of our managed properties. CBRE Property Management teams are actively involved in giving back to the local community through events on an annual, on-going and individual basis. In 2011, CBRE worked to create customized programs for each building which are aimed at helping the local community. CBRE is able to put our clients in a winning position with top-notch talent, deep experience, the latest technology, industry-leading programs and strategic alliances that transform assets into opportunities through value-added solutions that deliver durable results.
Jones Lang LaSalle has a reputation for outstanding tenant relations and service but last year the firm surpassed its own lofty expectations and goals. With more than 22 million RSF under management, JLL delivered superior property management service that kept occupancy levels high, sustained long-term relationships with quality tenants and enhanced asset value for owners/investors. This successful approach is exemplified in JLL's work at the United Building, Hyatt Center and NBC Tower. The buildings boast some of the city's best amenities and levels of service. Highlights include state-of-the-art fitness centers, cozy cafés, modernized plazas and parking for bicycles. Community service is a key part of our mission and this year we raised money for local charities, organized coat and blood drives, offered wellness centers and flu shots and raised awareness for charitable programs that benefit seniors and children. The firm earned several accolades in 2011, most notably in the area of sustainability. The United Building netted a LEED Gold rating, a year after the Hyatt Center achieved the prestigious LEED Existing Buildings: Operations & Maintenance Platinum certification, the largest building in the city and one of the largest in the world to receive the recognition. The firm's management teams work diligently to make tenants feel appreciated, and evidence of this is JLL's continued high Kingsley Tenant Satisfaction Scores in the 4.0+ ranges out of 5.0 with highest overall satisfaction at 4.92 JLL is also proud to say that clients around the U.S. and the world have chosen Jones Lang LaSalle to manage more than 1.2 billion square feet of property. We believe that being the top choice of clients is a testament to our team's success, and respectfully ask the committee to consider these achievements for the 24th Annual Chicago CRE Award for Property Management Company of the Year.
As its letters of recommendation demonstrate, NAI Hiffman built its reputation and its business through a commitment to client and tenant satisfaction. The company maintains an industry high 89% tenant retention rate across its industrial, office and retail portfolio, which at 58+ million square feet is the largest in Chicago (according to Crain's Chicago Business). NAI Hiffman's goal is and always has been to be a trusted advisor and property manager. Owners have noticed the quality of its service and over the past five years, NAI Hiffman's portfolio has blossomed from 6 to 58+ million square feet due to the proven performance of local expertise and talent. Privately- and locally-owned, the company sources and wins business on the strength of its success and reputation in the Chicago market. NAI Hiffman primarily benefits tenants through its pursuit of lower operating costs and a day to-day commitment to excellence. The company also promotes communication and responsiveness, with an ongoing mission to achieve the highest client and tenant satisfaction. At 5215 Orchard Road in Skokie, that means periodically greeting tenants in the winter with hot chocolate and muffins. At the 29 N. Wacker office building in Chicago, it means tracking energy use via Energy Star and reducing consumption by 30% by transitioning to a more efficient HVAC system. And at the 399,511 SF warehouse at 5619 W. 115th St. in Alsip, it means facilitating negotiations for nonprofit Share Your Soles to occupy a 25,000 space free of rental costs. NAI Hiffman is a Chicago company serving over 950 tenants, generating in excess of 2,215 monthly reports, 12,000 checks, 37,500 invoices and 2,995 vendor contracts annually. However, it is the company's relationships that are the clearest indicator of its exemplary performance. Over the past 12 months, NAI's top five clients all assigned them new assets. In all, an unprecedented industry result of over 55 percent of NAI Hiffman's investor clients have awarded the company additional assignments in the past year. A philosophy of proactive, comprehensive service has brought NAI's managed properties higher retention, lowered expenses and greater profits.
With more than 4,500 tenants, Tishman Speyer views each tenant as a client and goes the extraordinary lengths to anticipate their needs and exceed their expectations. Property Management is committed to providing premium service in high-quality space so when a tenant has a choice of which building to call home, they'll choose a Tishman Speyer building. Tishman Speyer has an in-house team of over 350 property management experts who oversee all aspects of our buildings' operations, including engineering, security, fire safety and cleaning. Property Managers that work for Tishman Speyer are truly considered the CEO of their property. As an owner operator they are responsible for all aspects of revenue, expenses, capital projects etc. They partner up with other disciplines in the company such as Leasing, Design & Construction, Accounting etc., to establish the asset strategy. Our property management teams operate their buildings as if they are stand-alone businesses, with a focus on making sure that each tenant's needs are taken care of and that each Tishman Speyer property is maintained to the company's exacting standards. To ensure that our properties are operated to the highest levels of professionalism, responsiveness and efficiency, Tishman Speyer integrates each building into our customized internal programs including: Internal Audit Program
Tenant Satisfaction Survey Emergency Procedures Tenant Portal Website Electronic Work Order System Electronic Preventative Maintenance Program Standard Operating Procedures Events Community Service Projects Fitness & Conference Centers Green Initiatives With a reputation as a best in-class operator, we realize that the creation of long-term relationships with our tenants ultimately leads to the creation of value in our buildings and our assets. All of which may explain why the world's top-tier tenants tend to be our tenants.
Brinshore Development, LLC, together with the Leslie and Rosalie Anixter Center, served as the developer for the Hairpin Lofts and Logan Community Arts Center redevelopment. The new 50,560 square foot retail, residential and community building was completed in October 2011 and is currently pending LEED-Gold certification. The building is located at 2800 North Milwaukee Avenue, a six-way intersection at Milwaukee, Kimball and Diversey in the City of Chicago. Hartshorne Plunkard Architecture served as the architect and McShane Construction Company provided the general contracting services for this historic renovation. This Art Moderne building is registered at the National Register of Historic Buildings and dates back to 1930. Over the course of eight decades, the flat-iron building had numerous owners and, most recently, sat vacant aside from one retail store on the ground floor. In 2010, the City of Chicago and Brinshore/Anixter partnered to redevelop and revitalize this iconic building. The 50,560 square foot mid-rise now features 9,000 square feet of retail space on the ground floor, a 7,000 square foot community arts center on the second floor and 28 affordable and market rate apartments on the upper floors. The development and construction team converted a dilapidated building into a working and interactive part of the community. McShane Construction's assignment encompassed dramatic exterior and interior renovations. The team utilized historic photographs and sketches to restore the crumbling façade and the other unique exterior architectural elements. McShane restored marble, terrazzo, elevator medallions, coffered plaster ceilings and glass tiles in the lobby area. Sustainable features such as a green roof, solar rooftop panels, photocatalytic rooftop pavers, Energy Star appliances, geothermal heating and cooling and high-efficiency lighting were incorporated into the building while still maintaining its historic aesthetic. Hairpin Lofts represents a unique combination of historic preservation, environmental sustainability, transit-oriented development and affordable housing for the residents from the Logan Square and Avondale neighborhoods. The redevelopment has transformed what was once a neighborhood eyesore into a refreshed community anchor centrally located in the Milwaukee Avenue commercial corridor, the Logan Square Arts District and the City of Chicago.
The IGOE Building, located at 328 S. Jefferson/600 W. Van Buren in Chicago‟s West Loop, is a ten story, 280,000 rentable square foot concrete loft building with a total project cost in excess of $25 million dollars. The south tower was constructed in 1922 and the north tower was constructed in 1928. When purchased, the building was nearly empty and the few tenants that remained were low paying printing and light manufacturing tenants. In addition, the building was in complete disrepair and had not been updated since its initial construction back in the 1920‟s. Upon purchase, we immediately set upon a strategy of modernizing the building by demolishing all of the existing conditions on each floor. The concrete was sandblasted, buffed and polished to prepare for the construction of new tenant buildouts. The building was also outfitted with entirely new plumbing and electrical systems, forty new bathrooms, three new passenger elevators (all new elevator cabs and mechanical systems), fully updated common ar eas and two brand new lobbies that kept the classical look of the 1920‟s while also giving it a modern twist with two electronic building directories, artwork and décor. Externally, over 200 all new fully operable windows were installed on the south and east facades, while over 4,000 single pane „warehouse‟ style windows were installed on the north and west façade. In addition, extensive masonry tuckpointing and terra cotta upgrade and repair work was completed, as well as the pressure washing of the brickwork and the painting of the concrete façade. A rooftop deck was also installed for tenant‟s enjoyment in the summertime. While modernizing the building, we allowed the remaining tenant‟s leases to expire while simultaneously embarking upon an aggressive leasing campaign. After successfully spreading the word to the brokerage community, we immediately began leasing space, and quickly. By the end of 2011, we went from nearly empty to over 95% leased and have leases out on the remaining two spaces to get us over 97% leased in the next couple months, which would account for over 270,000 square feet of leasing in this tough economic climate.
Presidential Towers is a 2,346 unit apartment complex located in the fast ‐growing West Loop neighborhood. A comprehensive $22 million redevelopment of the building‟s public area began in 2008, with the project reaching completion in 2011. When originally constructed, the building‟s retail tenants had interior ‐oriented entrances with only two access points to the exterior street ‐scape. This allowed the retail tenants to serve the residents of Presidential Towers, but limited traffic from other neighborhood residents and employees in the surrounding area. The redevelopment reorien ted the retailers‟ entrances enabling them to attract more business from West Loop residents and passers ‐by. Furthermore, there was no clear separation between the interior shopping mall, and the residential lobby for Presidential Towers‟ residents. The newly redeveloped areas now provide discreet entry for residents of Presidential Towers, while still maintaining secure access for the residents to the retail portion. Additionally, the preexisting fitness facility was expanded by enclosing the Clinton Street dock and third floor exterior patio to create a 6,000sf, street ‐level entry with direct access to the 48,500sf club level. The resulting space is now one of the premier health club destinations in the city. Another impressive change benefitting the surrounding community was the addition of a Wal ‐Mart “Neighborhood Market”. At almost 30,000sf, the store provides a much needed amenity to a densely populated area. Securing Wal ‐Mart as a tenant has paved the way for their expansion into other Chicago neighborhoods, providing not only needed grocery and retail options, but also job opportunities. The project involved unique challenges including the requirement to obtain approval by three Alderman, as the project site is located in three different Wards. Also complex was the completion of renovations while existing retailers continued to operate, and while the residential portion of the building was almost fully occupied. The completed redevelopment has resulted in Presidential Towers and the West Loop neighborhood benefitting from numerous new amenities and retail options, an estimated $40 million increase in value Towers home. to the property‟s retail component, a retail occupancy rate that increased from 45% to 84%, and a more welcoming lobby for residents who call Presidential
Randhurst Village is the redevelopment of Randhurst Mall, an existing enclosed shopping center located on a 100 acre site in Mount Prospect, Illinois. Originally built in 1962, Randhurst Mall was one of the first enclosed shopping centers in Illinois. Over time, the small shop retailer's performance struggled and it became apparent that a drastic change needed to occur. The demographics of the trade area and strong performance of the big box retailers and outparcels encouraged the owners to move forward with the redevelopment project. The enclosed two-level center was demolished and an open air mixed use center was built featuring a "main-street" style layout. Randhurst Village features a state-of-the-art AMC Theatres, retail and restaurant space, second floor office suites, a three level parking garage and a 120 room hotel. The $150 million redevelopment project totals over one million square feet including 971,467 square feet of retail and 87,888 square feet of office. The development utilizes fresh architecture with blends of face brick and composite metal panels to create an "urban-suburban" style. Creative solutions were utilized for specific site challenges and the main street retail, hotel and theatre were all designed to meet LEED standards. Existing tenants remained open and reported strong sales throughout the extensive demolition and construction phases. National tenants new to the area opened including Pei Wei Asian Diner, Tony Sacco's Coal Oven Pizza, Five Guys and Billy Goat Tavern & Grill. New leases have been announced including BlackFinn American Grille and World Market with openings in summer 2012 Randhurst Village is now a relevant product that reflects what the consumers in the area want from a shopping center. The pedestrian friendly layout, convenient parking and striking architecture contribute to a pleasant shopping experience. As the economic climate improves, Randhurst Village will become fully leased with popular retailers and restaurants for area residents to visit and enjoy.
Roscoe Square is a retail redevelopment encompassing 140,461 square feet located in Chicago's Roscoe Village neighborhood. When Dominick's Finer Foods closed their doors in November 2010 the center was a mere 58% leased. Although we were disappointed in the closure of Dominick's, we realized it presented an opportunity to reinvent the entire shopping center to better serve the community. We quickly secured a lease with Mariano's Fresh Market to open their first store in the City of Chicago and jointly worked on a redevelopment plan for the center that would excite customers inside and out. Ultimately we decided to replace and upgrade every element of the exterior including the façade, parking lot, landscaping, sidewalks and light fixtures. We also reconfigured the site plan to allow for the addition of a drive thru for Walgreens Pharmacy and a new PNC bank as an outlot. These proposed changes required approvals from several key parties including entitlement approvals from the City of Chicago. We received all approvals in a remarkably short period of four months from initial submission based on the tremendous support for our plan. In total over $12,000,000 was invested into the project and construction was completed on a very tight schedule while many existing retail tenants continued to operate. Since Mariano's Fresh Market opened on August 23rd, 2011, the project has been a tremendous success and occupancy has already increased to 90% with leases being finalized to reach over 95% occupancy. The project has been a financial successful, but equally as important, we lessened the environmental impact and beautified the community. Environmental stewardship was a key component to the planning. We added 27,000 square feet of green space, 7,000 square feet of green roof, over 150 new trees, 25,000 cubic feet of underground stormwater retention, reflective roofing, high efficiency lighting, bike racks and additional pedestrian sidewalks. Additionally, 96% (214 tons) of all construction and demolition waste was recycled. We expect the redevelopment will be LEED Silver Certified and we believe is a prime example of how redevelopment can be a winning proposition for the owner, tenants, community and environment.
Since 1915, Roycemore School has called 640 Lincoln in Evanston "home." However, its ground lease with Northwestern University was set to expire in 2014. Due to the Lincoln buildings size and age, Roycemore was unable to grow its student population there. Historically, 50% of its students received financial aide from Roycemore. Without relocating, Roycemore was at risk of closing its doors after nearly 100 years. Podolsky Northstar was engaged to find Roycemore a suitable new location with very strict location parameters. A 3-year search, concluded in 2008, identified the former site of the General Board of Pensions (GBOP), 1200 Davis St., as an ideal candidate. Roycemore was required to provide a $1 million non-refundable deposit in order to secure the property and provide a delayed closing of up to 2 years to accommodate GBOP's own relocation. Simultaneously, rezoning, Special Use Permits and significant entitlement work was also achieved for Roycemore's use. The ensuing economic downturn impeded both fundraising and financing placing Roycemore between competing time pressures to move and fundraise, with limited financing structures available. Podolsky was able to negotiate a purchase price reduction of 20% while project scope was value engineered to reduce the budget by $2 million. A bridge loan was utilized to buy the site before the closing deadline. Podolsky went above and beyond its scope of duties by bolstering financing alternatives with its participation. The Dobbins Group design-build contractor, recommended by Podolsky, with long-term bond financing obtained, delivered a completed school within budget and in time to avoid extensive penalties should Roycemore fail to vacate Lincoln Street by December 31, 2011. In less than 7 months, construction included the complete renovation of the former dated office building and the addition of a new gymnasium. Podolsky Northstar brought its not-for-profit real estate consultation team to every facet of the redevelopment, including site selection, due diligence, zoning and entitlements, design, financing and construction administration. Roycemore's relocation, orchestrated by Podolsky Northstar over 6 years, culminated in a newly renovated and permanently financed, self-owned home in its desired location with room to grow its student population for years to come.
The CBRE team of Joe Parrott and Jim Sakanich represent the pinnacle of Chicago retail expertise. By combining in-depth market knowledge with creative solutions, the team has achieved an unmatched reputation for consistently delivering high quality results for some of Chicago's leading property owners, developers and retailers. Despite the most difficult retail environment in decades, the team completed 78 transactions for a total of 547,725 SF this year. This transaction volume creates market knowledge that allows them to seize opportunities, speed the transaction process and better advise clients on all of their real estate decisions. The Team brings a great breadth of knowledge, experience and a proven success track to both retailers and shopping center owners. Mr. Parrott and Mr. Sakanich's creative deal structuring was highlighted this year with the completion of six Walmart locations in the city of Chicago, one of the first Ross Dress for Less stores in Chicagoland, four new locations for Savers, a new Z Gallerie in Highland Park, two new Planet Fitness clubs in Des Plaines and Morton Grove, a new Sephora in Geneva and seven new tenants in added to The Glen Town Center in Glenview. The Walmart Neighborhood Market at Presidential Towers in Chicago was the first urban location nationally for a Walmart Neighborhood Market. The Walmart Supercenter on 83rd in Chicago took seven years of navigating through changing political environments to complete the transaction. The Walmart Express stores in Chicago on Broadway and also on 83rd are the first urban locations nationally for Walmart Express. The Z Gallerie deal we secured for our client in Highland Park is the only north shore location for Z Gallerie. We secured Planet Fitness in Des Plaines to occupy space that has been vacant for over five years. The deal took 18 months to complete and during this time we had to not only negotiate the deal but also work through a change in franchise structure as well as modifications to the building façade and more. These examples are indicative of the persistence and creativity that Jim and Joe deliver for their many satisfied clients.
The Problem was to store 3.5 Mill. books with an Automated Storage and Retrieval System (ASRS). The expectations in the brief suggested to house those in a well designed "Box" above grade. In an effort to infringe as little as possible with the open space, make the Reading Room and the Preservation Department the most pleasant space to be in and in line with our approach to challenge habitual conventions, we opted to put the books below grade, where their environment can be better controlled to achieve the desired constant temperature and humidity of 60 degrees, 30% RH at less cost. The people oriented spaces could thus be located at grade in a minimal Elliptical Glass Dome, which fits the context, because it defies conventional relationships. I think it has been embraced by the leadership of the University, because it represents the mission of the University of Chicago as catalyst for the advancement of knowledge. It is interesting that this happened at an Institution where the disciplines of Architecture and Engineering are not taught, but a spirit prevails to go beyond where others stop. Science, Physics, the liberal and applied Art start, when others think they are complete. Once a consensus on the design was reached, the normal process started to solve the problem: comfort and sustainability, light-control, structure, life-safety, operation and maintenance. The Structural Gridshell of 120 x 240 feet and the insulated glazing represent a very minimal and intelligent system for mediating between the varying exterior conditions and the desired interior comfort. At the Interior there is a seamless integration between lighting, air supply and furnishings, which were fabricated in solid European White Oak. More than anybody the Users will benefit from an environment which is pleasant and conductive to study and research. This is not your classical Library, but points to the Library of the Future.
Rivers Casino is a 150,000 square-foot multi-system facility with a 1,560-car parking deck on 20 acres located approximately 20 minutes from downtown Chicago in Des Plaines, Illinois. The $90 million project is notable for many reasons, including: It is the first casino in the world to pursue LEED Gold certification; during the height of the recent recession, its construction employed 1,000 people; and it represents the final gaming license to be granted in Illinois. The finished project brought 1,000 full-time jobs to the city and every month returns millions of dollars in tax revenue to the State and municipalities near it. Pepper's innovative management approach, coupled with their commitment to collaboration and clear communication, allowed for flexibility at every step of a very demanding process. Through aggressive scheduling and thoughtful engagement with building and materials options, Pepper completed the project on time and within budget with virtually no overtime. Impetus for pursuing high sustainability goals came from the Owner's commitment to quality, which permeated all aspects of the project. Pepper worked with the Owner and design team to develop the project's sustainability strategy, which included: Construction waste recycling Locally sourced materials High-performance MEP systems Natural and energy-efficient lighting Extensive landscaping, both outside and indoors. The Rivers facility features Prairie-inspired architecture, low-slung and cast in opulent red and autumnal gold. The cumulative visual effect is striking, and creates a sense of excitement upon approach. The interior's contemporary design is in line with a high-end boutique hotel. In addition to gaming, visitors have five unique dining options, plus a nightclub, a high-stakes room, and VIP lounge. Designers also "brought the outside in," with views to the outside, skylights, and planted green walls. The anchor of a resurgent convention and hotel district, Rivers' enduring design reflects a commitment to the environment, but also the glamour and allure of a first-class entertainment destination, serving more than 400,000 visitors a month. A focus on quality of materials, quality of employee life, and quality of customer experience sets Rivers apart, and signals a true departure for a regional gaming environment.
Testa Produce, Inc. is Chicagoland's premier wholesale produce distributor. With an emphasis on service and quality, Testa has provided customers with extensive local, sustainable, organic, and specialty produce programs since its inception in 1912. In early 2011, Testa Produce moved into a newly constructed 91,000 sq. ft. facility and became the first LEED Platinum Certified Refrigerated Food Distribution Facility in the United States. The project revitalized a vacant 13-acre brownfield industrial site in the Back of the Yards Neighborhood. In doing so, the energy efficient headquarters for Testa Produce was created, featuring countless sustainable components including solar heated hot water, a 45,000 sq. ft. barreled vegetated roof, and a 238 ft., 750 kW freestanding wind turbine, the first of its kind in Chicago. The Back of the Yards Neighborhood, once home to the Chicago Stockyards, has solidified its reputation of growth and sustainability as a result of neighborhood development programs as well as the businesses residing in that area. Testa Produce has taken the initiative to become a leader in the sustainability movement and is an asset to the positive transformation of the neighborhood by setting an example for green business practices. Testa offers informative tours of the facility to local student groups, business owners, sustainability enthusiasts, and anyone interested in learning about the innovative and progressive advances the company has utilized. Educational signage throughout the building, in conjunction with informational take away booklets and an interactive kiosk at the facility's entrance, inform all of the building's visitors. The topic of sustainability is a concern for present and future generations and educating today's youth about the importance of 'living green' is the only way to ensure a prosperous earth for future generations. Despite various challenges Testa Produce overcame all adversity, and through dedication to sustainable practices, acts as an educational mentor, motivational beacon, and positive asset to community pride. By educating peers, setting a positive example for the community, and being an active member in neighborhood outreach programs, Testa challenges residents to take responsibility for improving the environment, starting with their community.