Entre completes transactions in Wheeling, Elgin
Wednesday, January 16, 2013 5:12 AM
SCHAUMBURG -- Entre Commercial Realty LLC recently completed four transactions:
1675-1685 Holmes Road, Elgin.
• Cadence Inc, a nationwide live-event production agency, has leased a 25,463 square foot facility at 1 Messner Drive in Wheeling. Cadence Inc. is growing company and is relocating from their 12,000 square foot facility also in Wheeling.
The building features 16-foot clear ceilings, 2 interior truck docks, 40 car parking and 5,500 square feet of office space. Brian Bocci & Nick Walby of Entre Commercial Realty represented the Tenant while Mark Deady & Dan Tobin with CTK Chicago Partners represented the Landlord in the transaction
• Entre completed the long-term lease of 18,680 square feet at the River Ridge Business Center in Elgin. Midwest Elite Gymnastics Academy plans to relocate from South Barrington to the new location at 410 Airport Road in January.
Entre was hired in October to handle the leasing of two vacant units totaling 50,000 square feet at River Ridge and immediately identified MEGA as a viable candidate to fill one of the units. They were attracted to the mixed-use nature of the River Ridge Business Center which offers a commercial/retail setting with abundant parking and tremendous exposure at the intersection of I-90 expressway and Route 31.
Dan Jones and Dan Benassi of Entre Commercial Realty represented the landlord while Amy Kelly and Olivia Czyzynski of Sperry Van Ness represented the tenant in the transaction.
• Entre completed the sale of 101,286 square feet at 1675-1685 Holmes Road in Elgin to High Street Equity Advisors. The property was sold on Nov. 8, 2012, for $3,87 million. The facility was partially leased to LG Hausys America. Entre had recently worked with LG to sign a 5-year lease on 67,298 square feet at $3.25 per square foot net earlier in 2012. The additional 33,988 square feet was vacant and available for lease.
Manulife Financial (John Hancock Life Insurance) hired Entre to market the property for sale to the investor and user/investor markets. High Street partnered with a local user, Chicago Logistics Solutions, in the transaction. CLS plans to use the remaining 33,988 for a distribution facility.
The property is a 101,286 square foot precast building that was built in 1990. The property offers immediate access to two full I-90 expressway interchanges. The building specifications include 26’ clear ceilings, 8 docks, 3 DID’s, 1,600 amps of power at 480 volts, multiple office pods and was in very good condition.
Dan Jones and Dan Benassi of Entre Commercial Realty represented John Hancock Life Insurance Company in the transaction while Noel Liston of Darwin Realty represented High Street Equity Advisors.
• National Office Liquidators, a national company headquartered in Phoenix, AZ. which specializes in selling used and new office furniture, has subleased a 20,000 square foot facility from Staples Office Supplies at 711 W Jackson Blvd in Chicago.
National Office Liquidators is relocating from one of their current facilities in Chicago.
This free standing building, a former Staples retail store, features I-90/94 visibility and access, 1 exterior truck dock, 55 car parking, and is located in Chicago’s West Loop Neighborhood.
Brian Bocci & Nick Walby of Entre Commercial Realty represented the Tenant while Robert Melscher and Larry Kling from Metro Commercial Real Estate represented the Landlord.