“NAI Hiffman completes multiple transactions”
NAI Hiffman has completed two offices leases and brokered the sale of a former auto dealership in the Chicago suburbs.
Mercury Insurance Services, LLC has signed a long-term lease for 23,654 square feet of office space in Continental Executive Parke in Vernon Hills. The single-story, 73,129-square-foot property is located at 560 E. Bunker. Mercury will move from 850 N. Milwaukee in Vernon Hills to their new location in September, after the build-out for their space is complete.
Michael Flynn, executive vice president and Jason Wurtz, senior associate, with NAI Hiffman’s Office Services Group, represented the property owner, PacTrust. Victor Sanmiguel with Chicagoland Commercial represented Mercury Insurance Services, LLC.
NAI Hiffman also represented PacTrust in leasing 9,038 square feet in the same building to Pearson Packaging Systems in late 2009, which, combined with the Mercury lease, brings the property to 100 percent occupancy.
NAI Hiffman has the exclusive leasing and management for a 300,000 square foot Chicago portfolio for PacTrust, which is comprised of four suburban office properties in Vernon Hills totaling 300,000 square feet and includes the headquarters for Baxter Credit Union and CDW.
In another transaction NAI Hiffman represented Hyper Microsystems, Inc., a Chicago-based electronics distributor, in its sublease of 132,851 square feet in Continental Executive Parke in Vernon Hills. The industrial property, located at 100-130 Lakeview Parkway, has 25,000 square feet of office space, 27 foot clear height, 8 interior docks and 4 drive-in doors. Hyper Microsystems has consolidated their three Buffalo Grove locations into the Vernon Hills facility. Focus Products Group is the sublessor, who is moving their operations to Pleasant Prairie, Wis.
Brian Colson, executive vice president and Eric Fischer, senior associate with NAI Hiffman’s Industrial Services Group, represented Hyper Microsystems. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham with CB Richard Ellis represented the owner, Wrightwood Capital.
NAI Hiffman has facilitated the sale transaction of the former Highland Park Lincoln-Mercury dealership to Bluestone Diversified Investments, LLC, a Chicago-based investor, for an undisclosed amount. The asking price had been reduced to $3.95 million. Bluestone will develop a state of the art Thornton’s brand gas station and convenience store along with a medical office building on the site. It will be the first Thornton’s location on the North Shore, and will boast a location on the Lake County side of the street which allows for lower taxes on goods.
The 2.76 acre site, located at 55 Skokie Valley Road, adjacent to the Crossroads Shopping Center in Highland Park, Illinois, has a 23,299 square foot building, which has been vacant since president and owner, Al Frisch, moved the business two miles north to accommodate the addition of the full line of Ford products on the lot. The dealership, now located at 1333 Park Avenue West in Highland Park, was renamed Highland Park Ford Lincoln Mercury.
Larry Much, executive vice president and Kelly Disser, associate, with NAI Hiffman’s Industrial Services Group, has represented the dealership owners since the property became available in 2008.