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Monthly Archives: October 2017

Bradford Allen Adds 6 New Leasing Assignments

Chicago, IL – Daniel Fernitz, Executive Managing Director of Agency Services, is pleased to announce that Bradford Allen has been appointed the exclusive leasing agent for six properties in the East-West Corridor. Managing Director Chris Surico will be the Leasing Agent for the combined 300,000 SF of office space.

Comar Properties has hired Bradford Allen for two properties; 555 E Butterfield Rd in Lombard, and The Comar Center in Oakbrook Terrace, totaling approximately 100,000 SF.

Additionally, Craig/Steven Development Corporation has hired Bradford Allen to represent the following four properties, totaling approximately 200,000 SF, 1401 Branding Lane in Downers Grove, 290 Springfield in Bloomingdale, 45 S. Park Boulevard, in Glen Ellyn, and the Oakbrook Office Pavilion in Oak Brook.

“We are thrilled to add these six well-positioned properties in the Chicagoland suburbs to our growing office leasing portfolio,” said Fernitz. “These new leasing assignments were sourced through Chris Surico’s long-term relationships and are a testament to his professionalism and proven ability to create value for his clients.”

 

Third Quarter 2017 Chicago Downtown Office Market Report

Corporate executives and eager developers tout the draw of downtown Chicago to recruit talent and consummate deals. Some sectors, notably tech, echo their enthusiasm through the numbers: almost 30% more new-lease and lease-expansion transactions occurred in 2017’s third quarter compared to the second quarter, coupled with a modest drop in direct availability from 15.6% to 15.0%.

 

To read the full report click here.

 

Bradford Allen Capital Arranges Financing for the Acquisition of Tri-State International Office Complex in Lincolnshire, IL

Lincolnshire, IL – Bradford Allen Capital arranged the acquisition financing on behalf of IHP Tri-State Asset LLC for the purchase of Tri-State International. Chuck Hoag, Senior Managing Director of Bradford Allen Capital, originated the $58 Million loan from Regions Bank.

“We presented the deal to a host of lenders, and Regions Bank gave us an outstanding offer,” said Chuck Hoag. “They wanted the opportunity to continue to grow their Midwest portfolio, and we are very pleased with the result.”

Tri-State International, the home of technology products seller, CDW’s executive offices, was constructed between 1984 and 1989 and is approximately 80 percent leased. The five building, 560,000-square-foot, Class A office complex is located at the four-way interchange of the Tri-State Tollway (I-94) and Half-Day Road (Route 22) in Lincolnshire, IL. In addition to the executive offices for CDW, notable tenants include: Solo Cup, Wells Fargo, and LTD Commodities. The property has recently upgraded its amenities including a state-of-art conference center with a 135-seat auditorium, and fitness center in the 200 Building and a new deli in the 300 Building. A recently completed 4-story parking structure was constructed for CDW’s employees and is immediately northeast of CDW Center, which contributes to the property’s above average 4.3/1,000 RSF parking ratio.

 

Daniel Fernitz Joins Bradford Allen as Executive Managing Director of Agency Services

Chicago, IL – Jeffrey Bernstein and Laurence Elbaum, Co-founders of Bradford Allen are pleased to announce that Daniel Fernitz is joining the firm as Executive Managing Director of Agency Services. Fernitz has 30+ years of experience in the commercial real estate industry will be responsible for overseeing and growing the firms’ Agency Services Division.

Fernitz joins Bradford Allen from Jones Lang LaSalle where he managed the suburban Chicago leasing team for the last 13 years and was directly responsible for growing their office leasing portfolio from 1.5 million to 10 million square feet. Prior to his tenure at JLL, Fernitz was a Principal with 1st United Realty, Director of Leasing at Klaff Realty, L.P., and held a senior management role at The Ross Group/Ross Berger in Chicago. Fernitz earned a B.S. in business administration with a concentration in real estate from the University of Arizona.

“Dan’s experience, leadership, and established industry relationships will be a tremendous addition to our agency services division,” said Elbaum. “Jeff and I are thrilled that Dan decided to join Bradford Allen. This is a true milestone in the growth and maturity of our firm.”

“I’m excited to be joining Bradford Allen for many reasons,” said Fernitz. “Their platform, culture and entrepreneurial spirit are a wonderful mix that promises to bring positive results to our clients and team.”