Cresa Chicago Closes Record-setting $13 Million Goose Island Property Deal
Corporate real estate advisory firm completes historic sale of 130,000 square-foot, 3.3-acre site
03 Dec, 2015, 03:54 ET
CHICAGO, Dec. 3, 2015 /PRNewswire/ -- Cresa Chicago, a corporate real estate advisory firm that exclusively represents tenants and occupants, today announced a commercial property sale on behalf of Chicago Scenic Studios, a global custom production partner that offers leading customized design, project management and fabrication services to museums, theater and entertainment industries.
Located at 1315 N. North Branch St., the 3.3-acre, 130,000 square-foot building was sold to R2 Companies for $12.95 million. At over $90 per square foot, the final deal represents the highest-ever price per-square-foot paid for Goose Island land or property. Cresa Managing Partner Sheila Samii Matuscak, supported by Cresa Senior Vice President Jay Cook and Vice President Liz Roberts, represented Chicago Scenic in the sale, which closed on Dec. 2, 2015.
"The demand for highly desirable Goose Island properties remains brisk," Matuscak said. "It was an honor to work with all of the parties involved on this historic deal."
The complex sits on a 3.3-acre site located in the Goose Island Planned Manufacturing District. One of the largest sites available on Goose Island, the property features 26,000 square feet of existing office space, including mezzanine areas, employee locker rooms and a break area. The property is in close proximity to the Wrigley Innovation Center, the new UI Labs and Amazon's warehouse.
"Cresa was instrumental not only in finalizing this sale, but also in making sure we can stay in our current location for another two years," said Bob Doepel, founder and president at Chicago Scenic Studios. "These terms mean we will able to secure the right location while serving our clients and managing our growth."
About Chicago Scenic
Chicago Scenic Studios, a global company headquartered in Chicago, provides customized design, project management and fabrication services to museums, national and regional theater companies, corporate and special events, themed environments and broadcasters. Since its founding in 1978, the company has established itself as a responsive and nimble custom production partner. For more information, visit www.chicagoscenic.com.
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including Transaction Management, Project Management, Relocation Planning and Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Lease Administration, Capital Markets, Sustainability, Supply Chain and Facilities Consulting. With more than 50 offices, Cresa is the largest tenant representation firm in North America. Internationally, Cresa covers more than 125 locations in 35 countries. For more information, visit www.cresa.com.
Brennan J. Anderson
(312) 207-2369 ext. 224
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