Nai Hiffman Dealmaker Fall 2008

The Dealmaker NAI Hiffman Client Newsletter Fall 2008

EVERYTHING BUT THE KITCHEN SINK World Kitchen Leases Over 1.2 Million Square Feet page 1

MANAGEMENT GROWTH TA Awards Multiple Portfolios to NAI Hiffman Asset Management page 3

SHINY NEW FACES Atkinson, Kiefer and Yurek Join Firm page 11

NAI HIFFMAN BROKERS SALE OF CBD OFFICE

NAI HIFFMAN SECURES OVER $12 MM IN LEASES FOR WORLD KITCHEN World Kitchen, LLC, manufacturer of such brands as Corelle, Pyrex, CorningWare, Revere and Chicago Cutlery has signed a lease to renew and expand its international headquarters to 50,191 square feet in Rosemont, Illinois. Moving key personnel from their previous headquarters in Reston, Virginia, World Kitchen will occupy an additional 15,000 square feet of office space in the Balmoral Business Campus, located at 5500 Pearl Street. The restructured long-term lease with landlord TA Realty Associates is valued in excess of $12 million. Michael J. Flynn, CCIM, SIOR, executive vice president, and Jason Wurtz of NAI Hiffman represented World Kitchen. In addition, Flynn and Wurtz, in conjunction with Kevin Goeller, CCIM, SIOR and John Richards of NAI KLNB of Tyson’s Corner, Virginia, filled the 22,000 square feet of sublease space remaining in Reston, Virginia when World Kitchen made the move to Chicago, bringing the College Entrance Examination Board in as a tenant for the next two years. continued on page 4

P. Scott Janos, an associate with the Retail Services Group at NAI Hiffman, represented The Gammonley Group in two retail lease transactions at their “757 Orleans @ Chicago” mixed-use development in the River North neighborhood of Chicago, Illinois.

The Chicago-based real estate owner and manager acquired the 71,489 square foot, seven-story office building from a local private investment group.

Walgreens has signed a 20-year lease and will soon open a new 11,335 square foot drugstore in the ground floor of the continued on page 8

continued on page 9

dealmakers.indd 1

Investment Sales 9

Jason Wurtz

WALGREENS AND BANK OF AMERICA SIGN LEASE AT GAMMONLEY DEVELOPMENT

Chad Firsel, executive vice president, Art Burrows, senior vice president, and John Bullen, associate, all with NAI Hiffman’s Investment Services Group, brokered the investment sale of 180 N. Wacker Drive in Chicago, Illinois, to Marc Realty for an undisclosed amount.

Industrial Group 5

Michael J. Flynn

Office Group 3

Retail Group 8

Asset Management 10

New Hires 11

09/09/08 8:30:16 AM

Our Company NAI Hiffman is the largest full service, privately-owned commercial real estate brokerage and management company in the Chicago region. With over 200 brokers and employees, NAI Hiffman is dedicated to providing our clients with the most comprehensive real estate services with the highest level of professionalism and integrity. NAI Hiffman delivers world-class, results-oriented, office, industrial, retail, multifamily and investment brokerage and management services including: l l l l l l

acquisition and dispositions leasing and subleasing tenant representation property management sale/leaseback build to suit

l l l l l l

investment services site selection due diligence market research consulting & strategic planning receivership & REO disposition

NAI Hiffman is the Chicago regional representative of NAI Global, the leading managed network of commercial real estate firms spanning the globe. As the world’s only managed network of commercial real estate firms, NAI works together to help our clients strategically optimize their assets. Our clients come to us for our deep local knowledge. They build their business on the power of our global managed network. With over 325 offices in 55 countries, NAI is connected to the world.





www.hiffman.com

Committed to Chicago. Connected to the World.™

One Oakbrook Terrace, Suite 600, Oakbrook Terrace IL 60181

tel 630 932 1234

Page 2 NAI Hiffman Dealmaker - Fall 2008

dealmakers.indd 2

09/09/08 8:30:17 AM

NAI Hiffman News PETERSEN NAMED COO After a year and a half as CEO of the David Petersen NAI Hiffman Asset Management Group, David Petersen was named chief operating officer (COO) of NAI Hiffman. Petersen will have direct responsibility for the support staff, human resources, fiscal performance, marketing, research, business development, and strategic planning for all of the firm’s business lines. In making the announcement, chairman Dennis Hiffman said, “The creation of the new position is part of a strategic business Dennis Hiffman plan set in place three years ago by our leadership team, to keep pace with the rapid expansion we have experienced. The company has seen tremendous growth in office, industrial, retail brokerage and investment sales as well as our asset

management and leasing business lines. We have expanded from a company of less than 30 people in 2000 to a regional leader in corporate real estate with personnel totaling in excess of 220 employees today.” Mr. Petersen added, “We have always been a firm looking for new ways to adapt to the needs of our customers. Everyday we strive to prove to the client that their decision to entrust NAI Hiffman with their real estate requirement has our full attention. Because of the customer-centric focus, our rapid expansion demands the continued adapting of our firm to meet the future needs of our clientele. I am excited about the possibilities that this new position brings, for our clients, our team and our strategic position to continue our growth plan.” Petersen will continue to oversee NAI Hiffman Asset Management as CEO. Under his strong leadership, the department has experienced dramatic increases in operational efficiencies, total revenue and a management portfolio that has grown from 6 million to 35 million square feet.

NEW RETAIL BROKERS AT NAI HIFFMAN Michael Meksto Joins Firm as Head of Retail NAI Hiffman is pleased to announce the expansion of the Retail Services Michael Meksto Group. Based out of the Oakbrook Terrace office, the group recently welcomed Michael Meksto as senior vice president and managing director of Retail Services. Michael Meksto brings diversified experience in corporate operations, in-house development, land acquisition, project leasing, dispositions, and tenant representation to NAI Hiffman.

Most recently running his own company, Mike has held positions with Dalan/Jupiter Development and CB Commercial, where Mike was a “Top Ten” regionally ranked producer as a retail specialist. Mike’s exclusive retail clients include The Home Depot, Office Depot, Red Door Spas and Fit Zone for Women. Also joining the Retail Services Group are Christiana Zouzias, senior associate, land specialist, and Gwen Kovar, associate, medical retail specialist.

TA REALTY AWARDS MANAGEMENT PORTFOLIOS TO NAI HIFFMAN TA Associates Realty has awarded the property management assignment for 18 of its recently acquired CenterPoint Properties’ portfolio buildings to NAI Hiffman Asset Management. The collection of properties is comprised of 2,048,313 square feet of warehouse and flex office space in and around the O’Hare, Interstate 55, Northern Cook, DuPage, and Kane County markets. Quantum Foods campus, one of the new TA management assignments

In assuming the management of the portfolio, NAI Hiffman gains 26 new tenants including Regent Aerospace, Kaiser Aluminum, Amcor Pet Packaging, Houston Harvest and Admiral Air Express. Tenant leases in the facilities range from 11,000 to 360,000 square feet, with all but two of the buildings being 100 percent occupied. Additionally, TA Associates Realty has awarded the property management assignment for its recently acquired O’Hare-South Lake portfolio to NAI Hiffman Asset Management. The 10-building portfolio is comprised of 658,897 square feet of warehouse and flex office space in and around the O’Hare market. NAI Hiffman Dealmaker - Fall 2008 Page 3

dealmakers.indd 3

09/09/08 8:30:18 AM

Office Brokerage Group News ADLER-O’NEILL TEAM FILLS ESTANCIA EXECUTIVE CENTER In the last eighteen months, the NAI Hiffman Office Brokerage team of James Adler and Daniel B. O’Neill completely leased two speculative buildings in the Estancia Executive Center developed by Mars Equities, Inc. Totalling 160,000 square feet of office space with 650 parking spaces, the buildings are located at 180 Harvester Drive at the intersection of County Line Road and I-55 in Burr Ridge, Illinois. As a result of the rapid absorption, the Burr Ridge, Illinois company is proceeding with their third and final phase of the development: a three-story, 90,000 square foot speculative office building. Within the first twelve months of development, despite a downturn in the office market, the project was 82 percent leased, surpassing market performance.

CHICAGO DOWNTOWN OFFICE MARKET SNAPSHOT JULY 2008 Vacancy Rate

Net Absorption

Construction

Asking Rents

Long-term leases were secured with Insure One, University of Chicago, Rockwell Automation, and NuFarm Americas. Additional leases bringing the development to 100 percent occupancy included Accenture, NBC Universal, Atlas Tube and KDA. NAI Hiffman will also represent Mars in leasing the new speculative building, slated for a first quarter 2009 completion. 180 Harvester Road

of planning and as a result of a development agreement with the village, Mars broke ground in 2005 on a threestory, 110,000 square foot office facility and a one-story 50,000 square foot office facility. “Going ‘spec’ is a daunting task for any developer,” said O’Neill, executive vice president. “Bringing in two buildings simultaneously to the markets amplifies the challenge. We have to attribute our success to aggressive marketing to tenants in the marketplace.” James Adler, also executive vice president with NAI Hiffman’s Office Brokerage Group, added that, “the success of this project surprised a lot of people. And it proves our belief that Burr Ridge is a terrific place to locate your headquarters.”

Mars acquired the vacant property in June of 2004 and approached NAI Hiffman to advise on the type of product to build, size, configuration, amenities and timing. After over a year and a half

WORLD KITCHEN

8

To receive our quarterly market reports via email, please send your request to: [email protected]

5500 Pearl Street

continued from page 1

“We are fortunate to have a global platform to assist our clients in their need for new locations, and happy that our team at NAI Hiffman could assist with this cross-state relocation,” said Flynn. In a continuing relationship with World Kitchen, LLC, NAI Hiffman facilitated the lease renewal of 1,033,470 square feet at the World Kitchen distribution facility in Greencastle, Pennsylvania. The restructured and extended long-term lease with the New Jersey-based landlord Matrix Development Group

will also result in improvements to the property, ensuring its viability for years to come. The kitchenware supplier will continue to use the facility to distribute pressed & blown glass, glassware, flatware and cutlery, cookware, bakeware, kitchen tools and utensils. Michael J. Flynn, SIOR, CCIM, of NAI Hiffman and John Van Buskirk, SIOR of NAI CIR (Harrisburg, Pennsylvania), represented World Kitchen. This is NAI Hiffman’s fourth transaction in recent years representing World Kitchen.

Page 4 NAI Hiffman Dealmaker - Fall 2008

dealmakers.indd 4

09/09/08 8:30:19 AM

Office Brokerage Group News 1300 N. Arlington Heights

NAI HIFFMAN FACILITATES $10 MILLION LEASE FOR MIDAS Michael J. Flynn, CCIM, SIOR, executive vice president, and Brian Edgerton, vice president, with NAI Hiffman’s Office Brokerage Group, represented automotive retailer Midas (NYSE: MDS) in signing a long-term lease for 61,760 square feet of office space at 1300 N. Arlington Heights Road in Itasca, Illinois. The lease was valued at approximately $10 million. The two-story, 108,332 square foot building, owned by Chicago developer Hamilton Partners, has been the North American headquarters for Midas since

1999. Formerly a subtenant of Cendant (Avis Budget Group, Inc.), Midas will now have a direct lease and will move their training operation to the facility. “We were able to provide Midas with a short term goal of rent savings, and worked with the landlord to sign an earlier lease,” said Flynn of the negotiations. In the late 1990s, when Midas began withdrawing from parts manufacturing and distribution, the company renewed its focus on building the franchise and real estate business. Through Kevin Fitzgerald with NAI Southwest Florida, Midas hired several NAI member firms to handle the disposition of facilities, as well as conduct site selection for projects. In this case, NAI Hiffman facilitated the

transfer of the sublease, due to expire in 2008, and arranged for Midas to give back their excess space while signing a direct lease a year in advance, benefiting both tenant and landlord.

STEPHANY SEALS MIDTOWN MANHATTAN OFFICE LEASE NAI Hiffman has secured a new lease for its client, McDonnell Investment Management, LLC, for its New York City branch offices at 570 Lexington Avenue in Midtown Manhattan. The financial advisory firm will reside in 4,219 square feet on the 28th floor of the 44,883 square foot building, owned by Tower 570 Company, LP of New York. Michael Stephany, executive vice president with NAI Hiffman’s Office Brokerage Group, represented McDonnell with his colleague Joseph Genovesi, executive managing director with NAI New York City.

NAI HIFFMAN BROKERS HQ AND LAB FOR CLEAN ENERGY CO. Great Point Energy, Inc, a Cambridge, Massachusetts-based “clean energy” company, has leased office space for their headquarters in Chicago at 222 S. Riverside Plaza in the West Loop. Taking just under 17,000 square feet, the coal gasification technology firm is a subtenant, taking space originally leased to R.J. O’Brien & Associates, a stock futures merchant. Great Point chose this building due to the proximity to its west side research and development facility, a 9,850 square foot

space, which they recently leased in the Illinois Medical District at 2225 Harrison Street. Michael Van Zandt, senior vice president, and Brian Edgerton, vice president, with NAI Hiffman’s Office Michael VanZandt Brokerage Group, represented Great Point in both transactions. “ “Getting the opportunity to work with a

company that is focused on clean air and green energy production has been very exiciting,” said Edgerton. “Bringing them into this market Brian Edgerton is a move forward for Chicago’s green research industry.” GreatPoint Energy is a developer of catalytic gasification technology to convert coal, petroleum coke and biomass into natural gas while allowing the capture of CO2. NAI Hiffman Dealmaker - Fall 2008 Page 5

dealmakers.indd 5

09/09/08 8:30:20 AM

Industrial Group News 1530 Birchwood Ave

SITEX PURCHASES DESPLAINES INDUSTRIAL FACILITY NAI Hiffman Brings Shelter Distribution as Tenant Brian Colson, executive vice president and Eric Fischer, senior associate with NAI Hiffman’s Industrial Services Group, represented Sitex Realty Group in their purchase of a 47,077 square foot industrial facility from a private, Park Ridge, Illinois-based owner for an undisclosed amount. Eric Tresslar, vice president, and Adam Marshall, associate, also of NAI Hiffman’s Industrial Services Group, represented the seller. The property, located at 1530 Birchwood Avenue, includes 2.36 acres of land, three exterior dock doors, outdoor storage, as well as 5,400 square feet of office buildout. In a separate transaction at the same location, Colson and Fischer represented Shelter Distribution, Inc., negotiating a new long-term lease for the entire 47,077 square foot building, which will be their regional headquarters.

8

To receive our quarterly market reports via email, please send your request to: [email protected]

MUCH, CONNOLLY & MALIK BROKER DOMINICK’S SALE TO KTR CAPITAL Lawrence R. Much, SIOR, executive vice president, Stephen J. Connolly, executive vice president, and Irvin Malik, senior associate with NAI Hiffman’s Industrial Services Group facilitated the sale of a Dominick’s distribution facility to an affiliate of KTR Capital Partners (“KTR”) of New York, New York. Located in Crawford Industrial Park at 4404 West Ann Lurie Place the 305,000 square foot modern space is a former distribution center for Dominick’s Finer Foods, a part of California-based Safeway Inc. The facility includes 72 loading docks in cross-dock configuration, 23’ clear heights, and 95 parking spaces. Only six miles from downtown Chicago, the building is situated on 17 acres fronting I-55 with immediate access to the interstate via a major four-way interchange at Pulaski Avenue.

the leasing of the facility, which will include a new 180,000 square foot distribution facility that will be built adjacent to the property. Keeley Construction has been retained for the expansion and improvements on the existing building. 4404 West Ann Lurie Place

“This investment acquisition is a rare find in a great location,” said Much. “The space became available after the seller consolidated operations for efficiency in Northlake. The seller required a quick closing period and KTR was able to accommodate them, complete due diligence and closing within 30 days. The facility is ideal for companies that rely on modern space and City of Chicago labor.”

KTR has named the same team to handle

LOGISTICS GROUP BROKERS CENTERPOINT LAND SALE TCB Development has purchased 168 acres in Montgomery from CenterPoint Properties for approximately $8.2 million. The acreage, located at Orchard and Knell Roads in Montgomery, Illinois, is being master planned for a direct BNSF rail-served logistics park with buildings ranging from 90,000 to over 600,000 square feet. Daniel P. Leahy, SIOR, executive vice president, Adam Roth, CCIM, senior associate, and David Troha, associate, with NAI Hiffman’s Industrial Services Group / NAI Global Logistics were the three brokers involved in the transaction between CenterPoint and TCB Development.

Page 6 NAI Hiffman Dealmaker - Fall 2008

dealmakers.indd 6

09/09/08 8:30:21 AM

Industrial Group News GO-KART RACING EXPANDS INTO O’HARE MARKET It seems Chicagoans enjoy their Go-Kart racing year-round and that demand has prompted Chicago Indoor Racing to expand their services by opening another facility in Addison, Illinois. For their new operation, they have signed a long-term lease with industrial developer and owner IDI, occupying a newly constructed 104,279 square foot industrial building located at 2381 Army Trail Road.

750 Veterans Parkway

ASHLEY FURNITURE SIGNS 228,000 SF DISTRIBUTION DEAL Ashley Furniture Industries, Inc, the world’s largest furniture retailer and manufacturer, has signed a lease for 126,956 square feet of distribution space in the Remington Lakes industrial park in Bolingbrook, Illinois. AMB Property Corporation (NYSE: AMB) owns the 228,000 square foot building located at 750 Veterans Parkway.

2381 Army Trail Road

John F. Cash, SIOR, executive vice president, and David Haigh, associate, with NAI Hiffman’s Industrial Services Group, represented IDI in the transaction. Steve Trapp of Cushman Wakefield represented Chicago Indoor Racing. The new, high-speed go-kart facility will be their second in the Chicago area. Chicago Indoor Racing’s first facility has been in operation for several years in an 86,000 square foot facility in Buffalo Grove.

Ben Cremer, vice president with NAI Hiffman’s Industrial Services Group, represented Ashley Furniture in the transaction. “After an extensive submarket search including the I-294, I-55, I-90 and I-94 corridors, Ashley determined that AMB’s facility in Bolingbrook was the right mix of product and location for their operation,” said Cremer. The unit will be expandable to the entire 228,000 square feet and build-out will include 5,600 square feet of office space, 32 docks and special lighting. Ashley Furniture sought the location to handle the home delivery of purchased furniture to the Chicagoland, northwest Indiana and southern Wisconsin markets.

... AND GROWING

CHICAGO INDUSTRIAL MARKET SNAPSHOT JULY 2008 Vacancy Rate

Net Absorption

Construction

Kelly Disser has joined the Industrial Services Group as associate. Kelly will mainly serve as part of a team with Lawrence R. Much, SIOR and will focus on commercial leasing and sales in Central DuPage County and the I-88 Corridor. He previously worked with Tobani in Dallas, TX and Duke Realty in Indianapolis, IN.

Asking Rents

Kelly Disser

NAI Hiffman Dealmaker - Fall 2008 Page 7

dealmakers.indd 7

09/09/08 8:30:23 AM

Retail Services Group News 501 W. State Street

CALIFORNIA INVESTOR BUYS GENEVA BUILDING AS INVESTMENT Anne Callard, senior associate with NAI Hiffman’s Retail Services Group, represented St. Charles, Illinois-based SRB Properties, LLC, in the sale of their 18,000 square foot retail building to American Investment Exchange, the national Tenant in Common sponsor based in Hermosa Beach, California.

WALGREENS / BANK OF AMERICA

continued from page 1

development, which is currently under construction. The drugstore will comprise most of the 13,800 square foot retail portion of the building at 757 N. Orleans. The residential portion will have 22 floors with 198 condominium units. Taking the balance of the retail space at 757 N. Orleans is Bank of America, who has leased the corner next to Walgreens, in another lease completed by Janos.

NEW MIXED-USE HINSDALE CLUB SET TO BE LEASED Claire Bitautas, vice president, and Anne Callard, senior associate, with NAI Hiffman’s Retail Services Group, have been Hinsdale Club awarded the leasing contract for the new project called the “Hinsdale Club”, located in place of the former Hinsdale Office Park on Ogden Avenue just west of I-294 and east of York Road in Hinsdale, Illinois. The Hinsdale Club is a 20-acre mixed-use redevelopment, including retail, office, residential, and hotel components. The 60,000 square feet of premier retail space within the exclusive Hinsdale Club is regarded as one of the best leasing opportunities in the Western Suburbs. Demolition of the Hinsdale Office Park has already begun and spaces are scheduled to be delivered to tenants in the summer of 2009, starting with the retail component. Though the general retail climate has been suffering this summer, this project has already generated tremendous interest and residents have been waiting in anticipation for the opening since plans were first laid on the drawing board three years ago. After a long process of getting formal approvals and presenting plans to the Village of Hinsdale, the project is going forward with full steam.

The property, located at 501 W. State Street in downtown Geneva, Illinois, sold for $4.45 million and has multiple tenants including Private Bank and Trust, ERA Consulting and Prana Yoga. Completed in 2006, the two-story brick and limestone building is situated on the northwest corner of Fifth and State Streets, just east of the Geneva Commons shopping mall.

NAI HIFFMAN BROKERS 23 ACRE RESIDENTIAL LAND SALE IN LOCKPORT A private developer has purchased 23 acres of residential land from a group of local owners in Lockport, Illinois for $3,063,139. The property is located along the new I-355 corridor, west of the interstate and north of 159th Street. The buyer intends to hold the property as an investment. Christiana Zouzias, senior associate with the Retail Services Group at NAI Hiffman, was the sole broker in the transaction.

Page 8 NAI Hiffman Dealmaker - Fall 2008

dealmakers.indd 8

09/09/08 8:30:24 AM

Investment Services Group News CBD OFFICE SALE continued from page 1

Tenants include Hogan Marren, Ltd., Coogan’s Riverside Saloon, Hitchcock Design Group, HTAH Law and FSNB Private Bank. The property, which was constructed in 1912 and designed by Holabird & Roche, is located within the West Loop submarket at the intersection of Wacker Drive and Lake Street. The building, originally designed as a warehouse, was converted to office use in 1981.

FIRSEL HAT TRICK Head of NAI Hiffman Investment Services Group Closes Three Deals in a Week FIFTH THIRD GROUND LEASE Chad M. Firsel, executive vice president with NAI Hiffman’s Investment Services Group, brokered the sale of a land site at the SWC of North Avenue and LaSalle Street in Chicago, Illinois to a Chicagobased developer. Firsel also leased the site to Fifth Third Bank to occupy as a 5,850 square foot ground lease. Comar Properties bought the single tenant ground lease for $4,075,000. Fifth Third Bank has made a long-term commitment for this site. “This is an irreplaceable piece of real estate. The corner of LaSalle and North Avenue is one of the hottest pieces of real estate in the city,” said Firsel. “The bank is going to serve primarily the Old Town and Gold Coast neighborhoods.”

180 N Wacker Drive

Hanover Park, Illinois. The center is anchored by Starbucks, Jackson Hewitt and T-Mobile and sold for $1,850,000. The purchaser was a Chicago-based private investor.

SHOPPING CENTER SALE IN DOWNERS GROVE

ORLAND PARK HOULIHAN’S

The NAI Hiffman Investment Services Group facilitated the sale of Main Street Station Crossing, an 11,456 square foot multi-tenant retail development in Downers Grove, Illinois. The center, anchored by Al’s #1 Italian Beef is located at 980 Warren Avenue across the street from the Metra train tracks. A private investor from Chicago acquired the property from a local Chicago developer, valued at $3.5 million.

In a third deal, Firsel brokered the sale of a free-standing Houlihan’s restaurant ground lease located at 16153 S. LaGrange Road, Orland Park, Illinois to Juan Tamayo of Orland Park, Illinois for $3.3 million. The site resides in part of a mixed-use center with multiple retailers, a hotel, several restaurants, banks and a Lifetime Fitness Center and is the last building to be constructed in the project known as Main Street of Orland Park. Hanover Park IL

NAI Hiffman represented the seller, a local Chicago developer. 980 Warren Avenue

HANOVER PARK STARBUCKS Firsel also represented the seller of a 3,903 square foot multi-tenant retail center, located across the street from the redeveloped Metra train station in NAI Hiffman Dealmaker - Fall 2008 Page 9

dealmakers.indd 9

09/09/08 8:30:26 AM

Asset Management Group WESTMONT ADDITION TO MANAGEMENT NAI Hiffman has been awarded the management of the Oakmont Circle I office building in Westmont, Illinois. Daniel O’Neill and James Adler, executive vice presidents with the NAI Hiffman Office Brokerage Group, brokered the TA Realty purchase of the office building from the Indianapolis-based Duke Realty Corporation. The four-story 115,000 square foot building is located at 601 Oakmont Lane.

New hires and promotions

Melissa Woolsey

NAI Hiffman will also take over the leasing for the property. J.P Morgan Chase & Co. and KeyBank are included in the tenant roster for the building, which is 90 percent occupied.

Cori Bedford

601 Oakmont Lane

NAI Hiffman to Manage Sydney Partners’ Industrial Asset

Greg Morrissey

NAI Hiffman Asset Management has been chosen to manage a 325,000 square foot industrial asset for Sydney Partners, located at 3348 S. Pulaski Road in Chicago, Illinois. The facility currently houses the Chicago Water Department and Chicago Bus and Truck Department. Along with 26 overhead cranes ranging from 3 to 25 tons, the building includes 3 truck level docks, 9 drive-in doors and sits on 16 acres at between W 33rd Street and W. Cougar Street. Kimberly Yurcus

Pierrel Turns Over Facilities to NAI Hiffman Italian investor Pierrel USA has awarded to NAI Hiffman Asset Management the facility management of three industrial buildings located at 1300, 1400 and 1420 Chase Avenue in Elk Grove Village, Illinois. Eric Tresslar, of NAI Hiffman, brought the management opportunity to NAI Hiffman Asset Management when a sale/leaseback to Cook Financial left Pierrel in need of a facilities manager.

Deborah Fox

Melissa Woolsey, was promoted to Property Manager for NAI Hiffman Asset Management Group, where she specializes in managing retail strip centers and large entertainment venues. She also manages three office buildings with NAI Hiffman, totaling 402,000 square feet and a collective 58 tenants. Cori Bedford has joined NAI Hiffman Asset Management as a Property Manager. She will be managing a recent TA Realty portfoilio acquisition, consisting of 18 industrial buildings mainly located in the northwestern suburbs. Prior to joining NAI Hiffman, Cori served as a Property Manager for Inland US Management and Mid America Asset Management. Greg Morrissey was recently promoted to Accounting Manager with NAI Hiffman’s Asset Management Group. His responsibilities include monthly reporting for TA Realty, Sun Life Assurance, Blackrock, and Sydney Partners. He is also a member of the software conversion team helping to bring everyone up to speed when any clients upgrade or convert their software. Kimberly Yurcus, was promoted to Director of Accounting and Internal Audit. Yurkus joined NAI Hiffman Asset Management in 2007 and specializes in financial management and client reporting for office, industrial and retail properties. She has the dual role of assisting in tracking and monitoring corporate revenues, expense trends, budget creation and compliance. Deborah Fox, was promoted to Controller of Asset Management for NAI Hiffman Asset Management Group, where she specializes in financial management and preparation for office, industrial and retail properties. She oversees all properties and financials as well as special portfolios including TA Realty, Sun Life and MidAmerica Development.

Page 10 NAI Hiffman Dealmaker - Fall 2008

dealmakers.indd 10

09/09/08 8:30:27 AM

NAI Hiffman People In The News Brian Atkinson has joined NAI Hiffman as senior vice president with the Office Brokerage Group. He will serve as a key player in NAI Hiffman’s downtown growth strategy. Brian comes to NAI Hiffman with extensive commercial real estate experience representing both owners and users of office space. Most recently, He was a leasing representative for Equity Office’s Chicago region. While with Equity Office, he Brian Atkinson was involved in the leasing of more than 5 million square feet of space. Prior to his tenure at Equity Office, Mr. Atkinson was vice president in the Office Services Group of Grubb & Ellis Company. As a tenant representative, he completed more than 95 transactions totaling in excess of 500,000 square feet of space. NAI Pool Party - Caesar’s Las Vegas NAI Hiffman sent 16 people to the 2008 ICSC Recon event in Las Vegas in May. 50,000 retail specialists from all corners of the world gathered to network and do a year’s worth of business in four days. The NAI Global Retail booth hosted over 350 meetings over the 3-day conference. NAI Hiffman Office Speed Racers Garrett Schultz led the Office Brokerage Group to victory in the Kimball Office and Evolution Interiors Racing Series Cup at Chicago Indoor Racing, winning a grand prize weekend for 8 on a Kimball Office private jet for a weekend at French Lick, Indiana. NAI Hiffman Soccer Team #1! NAI Hiffman sponsored the Naperville Park District adult soccer team for 2008, led by our own Paul Camacho, information systems manager. The team took home the top prize, with a perfect record of 9-0!

UPCOMING EVENTS - JOIN US! If you would like to attend an upcoming conference, please contact your NAI Hiffman broker or contact Julia Sutherland: 630 317 0701, [email protected] Sept 18: Land Development & Golf Outing Oct 22: CIP Transportation & Logistics Conference Oct 28: Suburban Office Conference

Kiefer Roth

Leslie Yurek recently joined NAI Hiffman with 3 years of prior experience working as a commercial broker, and 6 years working Leslie Yurek as a property manager. As a senior associate in the Office Brokerage Group, she specializes in sales and leasing, focusing on condominium and small building sales as well as landlord representation. Patrick G. Kiefer has joined NAI Hiffman as executive director with the Office Brokerage Group. Kiefer comes to Patrick G. Kiefer NAI Hiffman with extensive commercial real estate experience representing both owners and users of office space. Most recently, Kiefer was a senior director in Cushman & Wakefield’s Chicago office, where he was involved in leasing assignments totaling over 2.4 million square feet of space, and completed over 1.3 million square feet of lease transactions. Prior to Cushman & Wakefield, Kiefer served successful tenures at Insignia ESG, Lincoln Property Company and CB Richard Ellis. The Association of Industrial Real Estate Brokers (AIRE) recently awarded Adam D. Roth, CCIM, senior associate Adam D. Roth at NAI Hiffman, the Frank Mahoney Award of Excellence for outstanding brokerage production in 2007. The award, which was created in the early 1990s, is named for beloved former AIRE member Frank Mahoney and is given annually to an AIRE member with less than five years of experience who best exemplifies the organization’s high standards for performance, ethics and community service. NAI Hiffman Dealmaker - Fall 2008 Page 11

dealmakers.indd 11

09/09/08 8:30:31 AM

NAI Hiffman Service Spotlight Gail Vermejan has been promoted to vice president with the NAI Hiffman Asset Management Group. Her leadership in the implementation and coordination of internal processes and procedures have proven to be an invaluable asset within the organization. She specializes in the transition of property acquisitions, budgeting, financial reporting, lease administration, property inspections and strong client and tenant relations. Vermejan brings 23 years of real estate property management experience to her team of twelve, including seven property managers and five assistant managers. She oversees and directs the property management staff, supporting institutional and private owners consisting of sixteen office buildings, 50 industrial buildings and five retail centers totaling over 13 million square feet. Vermejan provides training and guidance on the coordination and implementation of real estate software systems and various accounting programs used within the industry. She works out of the NAI Hiffman corporate office in Oakbrook Terrace, Illinois, where the Asset Management Group is based.

Gail Vermejan

Prior to her employment at NAI Hiffman, Gail was employed by Mid America Asset Management as senior asset manager, responsible for multiple properties and by Prime Group Realty Trust as general manager for a commercial office portfolio located in the Northwest and Western suburbs of Chicago. Gail began her real estate career in 1984 with Baird & Warner Commercial Management, as a property administrator. A native Chicago suburbanite, Vermejan attended Illinois State University. She is a member of BOMA/ Suburban Chicago and the International Council of Shopping Centers (ICSC).

Oakbrook Terrace IL | Chicago IL | Merrillville IN

PRESORTED STD. US POSTAGE PAID CARPENTERSVILLE, ILLINOIS PERMIT No. 8

One Oakbrook Terrace Suite 600 Oakbrook Terrace Illinois 60181

dealmakers.indd 12

09/09/08 8:30:32 AM