The Dealmaker

NAI Hiffman Client Newsletter

Fall 2008

EVERYTHING BUT THE NAI HIFFMAN SECURES OVER $12 MM

KITCHEN SINK
IN LEASES FOR WORLD KITCHEN
World Kitchen Leases Over
1.2 Million Square Feet 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
page 1
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
MANAGEMENT GROWTH 15,000 square feet of office space in the Balmoral Business
TA Awards Multiple Portfolios to Campus, located at 5500 Pearl Street. The restructured
long-term lease with landlord TA Realty Associates is valued in
NAI Hiffman Asset Management
excess of $12 million.
page 3

Michael J. Flynn, CCIM, SIOR, executive vice president, and

SHINY NEW FACES Jason Wurtz of NAI Hiffman represented World Kitchen.
Atkinson, Kiefer and Yurek Michael J. Flynn
Join Firm In addition, Flynn and Wurtz, in conjunction with Kevin Goeller,
page 11 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
NAI HIFFMAN Board in as a tenant for the next two years.

BROKERS SALE OF continued on page 4

Jason Wurtz

CBD OFFICE
Chad Firsel, executive vice president, WALGREENS AND BANK OF
Art Burrows, senior vice president, and
John Bullen, associate, all with NAI
AMERICA SIGN LEASE AT
Hiffman’s Investment Services Group, GAMMONLEY DEVELOPMENT
brokered the investment sale of 180 N.
P. Scott Janos, an associate with the Retail Services Group
Wacker Drive in Chicago, Illinois, to Marc
at NAI Hiffman, represented The Gammonley Group in two
Realty for an undisclosed amount.
retail lease transactions at their “757 Orleans @ Chicago”
mixed-use development in the River North neighborhood of
The Chicago-based real estate owner
Chicago, Illinois.
and manager acquired the 71,489
square foot, seven-story office building Walgreens has signed a 20-year lease and will soon open a
new 11,335 square foot drugstore in the ground floor of the
from a local private investment group.
continued on page 8
continued on page 9

Industrial Group 5 Investment Sales 9 Office Group 3 Retail Group 8 Asset Management 10 New Hires 11

dealmakers.indd 1 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 acquisition and dispositions l investment services

l leasing and subleasing l site selection
l tenant representation l due diligence
l property management l market research
l sale/leaseback l consulting & strategic planning
l build to suit l 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.

Committed to Chicago.
Connected to the World.™

www.hiffman.com 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 management and leasing business lines.

We have expanded from a company of less TA REALTY AWARDS
NAMED than 30 people in 2000 to a regional leader MANAGEMENT
COO in corporate real estate with personnel
totaling in excess of 220 employees today.”
PORTFOLIOS TO
After a year and a NAI HIFFMAN
half as CEO of the Mr. Petersen added, “We have always been TA Associates Realty has awarded the
David Petersen NAI Hiffman Asset a firm looking for new ways to adapt to the property management assignment for
Management Group, David Petersen was needs of our customers. Everyday we strive
18 of its recently acquired CenterPoint
named chief operating officer (COO) of NAI to prove to the client that their decision to
Properties’ portfolio buildings to
Hiffman. Petersen will have direct responsibility entrust NAI Hiffman with their real estate
NAI Hiffman Asset Management.
for the support staff, human resources, fiscal requirement has our full attention. Because
The collection of properties is
performance, marketing, research, business of the customer-centric focus, our rapid
comprised of 2,048,313 square feet
development, and strategic planning for all of expansion demands the continued adapting
of warehouse and flex office space in
the firm’s business lines. of our firm to meet the future needs of our
and around the O’Hare, Interstate 55,
clientele. I am excited about the possibilities
In making the Northern Cook, DuPage, and Kane
that this new position brings, for our clients,
announcement, County markets.
our team and our strategic position to
chairman Dennis continue our growth plan.” Quantum Foods campus, one of
Hiffman said, “The the new TA management
assignments
creation of the new Petersen will continue to oversee NAI
position is part of a Hiffman Asset Management as CEO. Under
strategic business his strong leadership, the department
Dennis Hiffman
plan set in place three has experienced dramatic increases in
years ago by our leadership team, to keep pace operational efficiencies, total revenue and a
with the rapid expansion we have experienced. management portfolio that has grown from 6
The company has seen tremendous growth In assuming the management of
million to 35 million square feet.
in office, industrial, retail brokerage and the portfolio, NAI Hiffman gains
investment sales as well as our asset 26 new tenants including Regent
Aerospace, Kaiser Aluminum, Amcor
Pet Packaging, Houston Harvest and
NEW RETAIL BROKERS AT NAI HIFFMAN Admiral Air Express. Tenant leases
Michael Meksto Joins Firm as Head of Retail
in the facilities range from 11,000 to
NAI Hiffman is Most recently running his own company, 360,000 square feet, with all but two
pleased to announce Mike has held positions with Dalan/Jupiter of the buildings being 100 percent
the expansion of Development and CB Commercial, where occupied.
the Retail Services Mike was a “Top Ten” regionally ranked
Michael Meksto Additionally, TA Associates Realty has
Group. Based out producer as a retail specialist. Mike’s
awarded the property management
of the Oakbrook Terrace office, the group exclusive retail clients include The Home
assignment for its recently acquired
recently welcomed Michael Meksto as Depot, Office Depot, Red Door Spas and Fit
O’Hare-South Lake portfolio to NAI
senior vice president and managing Zone for Women.
Hiffman Asset Management. The
director of Retail Services. Michael Meksto
Also joining the Retail Services Group are 10-building portfolio is comprised of
brings diversified experience in corporate
Christiana Zouzias, senior associate, 658,897 square feet of warehouse
operations, in-house development, land
land specialist, and Gwen Kovar, and flex office space in and around
acquisition, project leasing, dispositions, and
associate, medical retail specialist. the O’Hare market.
tenant representation to NAI Hiffman.

NAI Hiffman Dealmaker - Fall 2008 Page 3

dealmakers.indd 3 09/09/08 8:30:18 AM

 Office Brokerage Group News

Long-term leases were secured with of planning and as a result of a

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
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
Mars acquired the vacant property in June
of 2004 and approached NAI Hiffman to
development agreement with the village,
Mars broke ground in 2005 on a three-
story, 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.”

development, despite a downturn in the
office market, the project was 82 percent
leased, surpassing market performance.
8
advise on the type of product to build,
size, configuration, amenities and timing.
After over a year and a half
To receive our quarterly market reports
via email, please send your request to:
info@hiffman.com

CHICAGO

WORLD KITCHEN
DOWNTOWN 5500 Pearl Street
OFFICE
MARKET
SNAPSHOT continued from page 1
JULY 2008
Vacancy Rate “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
Net Absorption cross-state relocation,” said Flynn.
will also result in improvements to the property, ensuring its
In a continuing relationship with World viability for years to come.
Kitchen, LLC, NAI Hiffman facilitated
Construction
the lease renewal of 1,033,470 square The kitchenware supplier will continue to use the facility to
feet at the World Kitchen distribution distribute pressed & blown glass, glassware, flatware and
facility in Greencastle, Pennsylvania. The cutlery, cookware, bakeware, kitchen tools and utensils.
restructured and extended long-term Michael J. Flynn, SIOR, CCIM, of NAI Hiffman and John
lease with the New Jersey-based landlord Van Buskirk, SIOR of NAI CIR (Harrisburg, Pennsylvania),
Asking Rents
Matrix Development Group 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
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
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
dealmakers.indd 5
1300 N. Arlington Heights
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
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.
“ petroleum coke and biomass into natural gas
“Getting the opportunity to work with a
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.
company that is
focused on clean air
and green energy
production has been
very exiciting,” said
Edgerton. “Bringing
them into this market
is a move forward Brian Edgerton
for Chicago’s green research industry.”
GreatPoint Energy is a developer of catalytic
gasification technology to convert coal,
while allowing the capture of CO2.
NAI Hiffman Dealmaker - Fall 2008 Page 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 build-
out.
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.
To receive our quarterly market reports
8 via email, please send your request to:
info@hiffman.com
Page 6 NAI Hiffman Dealmaker - Fall 2008
dealmakers.indd 6
MUCH, CONNOLLY & MALIK BROKER
DOMINICK’S SALE TO KTR CAPITAL
Lawrence R. Much, SIOR, executive the leasing of the facility, which will include a
vice president, Stephen J. Connolly, new 180,000 square foot distribution
executive vice president, and Irvin Malik, facility that will be built adjacent to the
senior associate with NAI Hiffman’s Industrial property. Keeley Construction has
Services Group facilitated the sale of a been retained for the expansion and
Dominick’s distribution facility to an affiliate of improvements on the existing building.
KTR Capital Partners
4404 West Ann Lurie Place
(“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. “This investment acquisition is a rare
find in a great location,” said Much. “The
The facility includes 72 loading docks in space became available after the seller
cross-dock configuration, 23’ clear heights, consolidated operations for efficiency in
and 95 parking spaces. Only six miles from Northlake. The seller required a quick
downtown Chicago, the building is situated closing period and KTR was able to
on 17 acres fronting I-55 with immediate accommodate them, complete due
access to the interstate via a major four-way diligence and closing within 30 days. The
interchange at Pulaski Avenue. 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.
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.
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.
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.
Ben Cremer, vice president with NAI Hiffman’s Industrial
CHICAGO
Services Group, represented Ashley Furniture in the transaction.
INDUSTRIAL
“After an extensive submarket search including the I-294, I-55,
MARKET
I-90 and I-94 corridors, Ashley determined that AMB’s facility in
SNAPSHOT
Bolingbrook was the right mix of product and location for their JULY 2008
operation,” said Cremer.
Vacancy Rate
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
Net Absorption
the Chicagoland, northwest Indiana and southern Wisconsin
markets.

... AND GROWING 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 Asking Rents
I-88 Corridor. He previously worked with Tobani in Dallas, TX and Duke Realty
in Indianapolis, IN.
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

The property, located at 501 W. State
Street in downtown Geneva, Illinois,
development, which is currently under construction. The drugstore will comprise
sold for $4.45 million and has multiple
most of the 13,800 square foot retail portion of the building at 757 N. Orleans. tenants including Private Bank and
The residential portion will have 22 floors with 198 condominium units. Taking the Trust, ERA Consulting and Prana Yoga.
balance of the retail space at 757 N. Orleans is Bank of America, who has leased Completed in 2006, the two-story
the corner next to Walgreens, in another lease completed by Janos. brick and limestone building is situated
on the northwest corner of Fifth and
State Streets, just east of the Geneva
NEW MIXED-USE Commons shopping mall.
HINSDALE CLUB
SET TO BE LEASED
Claire Bitautas, vice president,
NAI HIFFMAN
and Anne Callard, senior BROKERS 23 ACRE
associate, with NAI Hiffman’s RESIDENTIAL LAND
Retail Services Group, have been Hinsdale Club SALE IN LOCKPORT
awarded the leasing contract
for the new project called the “Hinsdale Club”, located in place of the former
A private developer has purchased
Hinsdale Office Park on Ogden Avenue just west of I-294 and east of York Road
23 acres of residential land from a
in Hinsdale, Illinois.
group of local owners in Lockport,
The Hinsdale Club is a 20-acre mixed-use redevelopment, including retail, office, Illinois for $3,063,139. The property is
residential, and hotel components. The 60,000 square feet of premier retail located along the new I-355 corridor,
space within the exclusive Hinsdale Club is regarded as one of the best leasing
west of the interstate and north of
opportunities in the Western Suburbs. Demolition of the Hinsdale Office Park
159th Street. The buyer intends to
has already begun and spaces are scheduled to be delivered to tenants in the
hold the property as an investment.
summer of 2009, starting with the retail component.
Though the general retail climate has been suffering this summer, this project Christiana Zouzias, senior
has already generated tremendous interest and residents have been waiting in associate with the Retail Services
anticipation for the opening since plans were first laid on the drawing board three
Group at NAI Hiffman, was the sole
years ago. After a long process of getting formal approvals and presenting plans
broker in the transaction.
to the Village of Hinsdale, the project is going forward with full steam.

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 180 N Wacker Drive
Closes Three Deals in a Week
Hanover Park, Illinois. The center is
FIFTH THIRD GROUND LEASE anchored by Starbucks, Jackson Hewitt SHOPPING
Chad M. Firsel, executive vice president
with NAI Hiffman’s Investment Services
and T-Mobile and sold for $1,850,000.
The purchaser was a Chicago-based
CENTER SALE IN
Group, brokered the sale of a land site private investor. DOWNERS GROVE
at the SWC of North Avenue and LaSalle
ORLAND PARK HOULIHAN’S The NAI Hiffman Investment Services
Street in Chicago, Illinois to a Chicago-
In a third deal, Firsel brokered the sale Group facilitated the sale of Main Street
based developer. Firsel also leased the
of a free-standing Houlihan’s restaurant Station Crossing, an 11,456 square foot
site to Fifth Third Bank to occupy as a
ground lease located at 16153 S. multi-tenant retail development in Downers
5,850 square foot ground lease. Comar
LaGrange Road, Orland Park, Illinois to Grove, Illinois. The center, anchored
Properties bought the single tenant
Juan Tamayo of Orland Park, Illinois for by Al’s #1 Italian Beef is located at 980
ground lease for $4,075,000. Fifth Third
$3.3 million. The site resides in part of a Warren Avenue across the street from the
Bank has made a long-term commitment
mixed-use center with multiple retailers, Metra train tracks. A private investor from
for this site.
a hotel, several restaurants, banks and Chicago acquired the property from a local
a Lifetime Fitness Center and is the last Chicago developer, valued at $3.5 million.
“This is an irreplaceable piece of real
estate. The corner of LaSalle and North building to be constructed in the project NAI Hiffman represented the seller, a local
Avenue is one of the hottest pieces of known as Main Street of Orland Park. Chicago developer.
real estate in the city,” said Firsel. “The
Hanover Park IL 980 Warren Avenue
bank is going to serve primarily the Old
Town and Gold Coast neighborhoods.”

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.
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.
601 Oakmont Lane
NAI Hiffman to Manage
Sydney Partners’
Industrial Asset
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.
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.
Page 10 NAI Hiffman Dealmaker - Fall 2008
dealmakers.indd 10
New hires and promotions
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.
Melissa Woolsey
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
Cori Bedford
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
Greg Morrissey
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
Kimberly Yurcus
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
Deborah Fox
including TA Realty, Sun Life and Mid-
America Development.
09/09/08 8:30:27 AM
 NAI Hiffman People In The News
Kiefer

Roth

Brian Atkinson has joined NAI Hiffman as senior vice Leslie Yurek
president with the Office Brokerage Group. He will serve as a recently joined NAI
key player in NAI Hiffman’s downtown growth strategy. Brian Hiffman with 3 years
comes to NAI Hiffman with extensive commercial real estate of prior experience
experience representing both owners and users of office working as a
space. Most recently, He was a leasing representative for commercial broker,
Equity Office’s Chicago region. While with Equity Office, he and 6 years working
Brian Atkinson was involved in the leasing of more than 5 million square feet of Leslie Yurek as a property
space. Prior to his tenure at Equity Office, Mr. Atkinson was vice president in the Office manager. As a senior associate in the
Services Group of Grubb & Ellis Company. As a tenant representative, he completed Office Brokerage Group, she specializes in
more than 95 transactions totaling in excess of 500,000 square feet of space. sales and leasing, focusing on condominium
and small building sales as well as landlord
representation.
NAI Pool Party - Caesar’s Las Vegas
NAI Hiffman sent 16 people to the 2008
Patrick G.
ICSC Recon event in Las Vegas in May. Kiefer has joined
50,000 retail specialists from all corners of NAI Hiffman as
the world gathered to network and do a executive director
year’s worth of business in four days. The with the Office
NAI Global Retail booth hosted over 350 Brokerage Group.
meetings over the 3-day conference. Kiefer comes to
NAI Hiffman with Patrick G. Kiefer

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, jsutherland@hiffman.com
Sept 18: Land Development & Golf Outing
Oct 22: CIP Transportation & Logistics Conference
Oct 28: Suburban Office Conference
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.

Prior to her employment at NAI Hiffman, Gail was employed by Mid America Asset Management as senior
Gail Vermejan 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).

PRESORTED STD.
US POSTAGE
PAID
CARPENTERSVILLE,
ILLINOIS
Oakbrook Terrace IL | Chicago IL | Merrillville IN PERMIT No. 8

One Oakbrook Terrace

Suite 600
Oakbrook Terrace
Illinois 60181

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