Industrial Developers Need To Be More Nimble Than Ever

Author: Brian Rogal, Bisnow

Designing distribution spaces was once relatively easy, but the nation’s acute labor shortage, along with the uncertainty introduced by growing online sales, means tenants now demand more, and developers need far greater nimbleness to effectively compete.

“Tenants want everything if they can get it,”  The Missner Group CEO Barry Missner said at Bisnow’s all-day Chicago Industrial Midwest conference this week. The challenge is how to balance providing a laundry list of amenities with rental rates that tenants can afford, he said, a difficult task considering how long today’s laundry lists can get.  

Geoffrey Kasselman, executive managing director of NKF’s national industrial practice, said industrial users now think far more about recruiting and retaining employees. Many demand the types of amenities, such as fitness centers and high-quality food options, typically thought of as office features.

“We’re seeing a lot more emphasis on providing good environments for workers,” InSite Real Estate Managing Director of Development Michael Larsen said. With Amazon and other online sellers forcing companies to reconstruct national supply chains and experiment with new models of distribution, the most important amenity tenants may need is flexibility, whether through short-term leases or buildings easily adapted to other uses, Kasselman said. “They don’t know what business they’re going to be in in five to 10 years.”

He advises developers to have frank discussions with potential tenants about how they expect their businesses to change over the next decade. This could involve not just considering how their specific industry will transform, but also how technology will impact employees’ lives. “Are you going to have electric vehicles coming in to your property, or gas vehicles, and when will that change happen?” Kasselman said.

The possible widespread introduction of driverless vehicles could further revolutionize how industrial tenants utilize their spaces, cutting down the need for parking or requiring the reconstruction of shipping and receiving areas. No one really knows just what change e-commerce will next bring to the industrial sector, and even firms like Amazon, which have led the way, are still figuring it out, said Jeremy Giles, managing director-global head of customer team for Prologis. "It's really in its infancy," he said. As a result, property owners can no longer simply sign lease deals and then go back to the tenant in five or six years when the lease expires to begin fighting over the rental rates again, he said.

Prologis decided to heavily invest in data analytic technology that tracks customer performance, so the groups can work together and brainstorm on improving operations and staying abreast of changes in the marketplace.

Industrial Properties Vice President Taylor Malfitano said rent only makes up about 4% to 5% of supply chain costs, so successful owners need to spend more time interacting with tenants about the other 95%. His firm makes sure to have dedicated teams that regularly meet with tenants, and quickly answer any concerns. "They need to know who to call on our end," he said.

Users increasingly ask for more environmentally sustainable buildings, especially ones that utilize high-tech tools to reduce energy use and cut costs through energy efficiency, WBS Equities President and CEO Wendy Berger said. Her firm, which specializes in creating buildings for food and beverage manufacturers, also works with marijuana-related businesses. One client's hopes for a new property illustrated just how much industrial development has changed. “They said their goal with this building was to heal the planet,” she said.   

But incorporating high-tech tools into new industrial properties remains a challenge, the experts said, partly because lenders, long accustomed to calculating buildings’ future revenues by analyzing the rents of comparable structures, don’t know how to place values on technology. What they need are methods to show how much more tenants would pay for a given high-tech feature. “There aren’t a lot of data points,” Kasselman said.

Furthermore, expectations may change again when the inevitable recession finally arrives, and tenants decide they no longer want to pay much for either amenities or environmental sustainability, said panel moderator Michael Hillebrenner, principal engineer for Roux Associates. “Development is looking down at a chessboard and trying to see the next three or four moves,” Kasselman said.

The legalization of recreational marijuana, expected to take effect in Illinois on Jan. 1, once Gov. J.B. Pritzker signs the bill passed by the legislature on May 31, presents another set of opportunities for developers if they move fast, Berger said. Growers and distributors will need spaces, and an 11-week cultivation cycle does not leave much time to get up and running. "You're going to be looking for sites that are as ready-to-go as possible," she said. Other hurdles include the possibility that some communities will resist any plans to bring marijuana cultivation or distribution to their town, Berger said.

One of the most important aspects of her work is educating municipal officials and community residents that legal marijuana is a business like any other, one run by responsible people. "These aren't a bunch of people sitting around getting stoned." Moderator Paul Klink, NKF executive vice president and head of industrial services, asked Prologis’ Giles to sum up how owners and developers need to approach this new era. Giles advises others to prepare for quick changes over the next few years and not get wrapped up in the current euphoria over the industrial sector’s historically low vacancy rates or the remarkable amount of demand created by the expansion of e-commerce. “We can fall into the trap of thinking we’re smarter than we are.”


THE MISSNER GROUP COMPLETES CONSTRUCTION OF 173,000 SF INDUSTRIAL DEVELOPMENT IN AURORA

The Missner Group and First Industrial Realty Trust are pleased to announce the completion of Orchard Industrial, a 173,000 square foot development in Aurora, Illinois. This newly constructed facility is located on a 9.7- acre site at 1998 Melissa Lane, along Dancer Drive.

The development, located on the far West Side of the Orchard Road Corridor, is designed to accommodate up to three tenants. The building features office to-suit, 32’ clear heights, 22 loading docks, drive-in doors and an ESFR fire safety system.  Additionally, the property offers 174 parking spaces, a 12-trailer parking lot, and all new landscaping throughout the building’s exterior.

To minimize the “big box” look along Melissa Lane and Interstate 88, The Missner Group added architectural elements along the eastern and northern elevations. The high-end façade includes five, two-story glass entrances along with large windows spanning the top of two stories, in addition to a faux entry feature.

As part of the project, The Missner Group completed surrounding off-site roadway improvements to realign Sullivan Road at the intersection with Deerpath Road, which now prevents awkward turning movements and has improved overall traffic safety.

The Missner Group’s general superintendent, Angelo Christopher, and senior project superintendent, Steve Bulger, led construction on behalf of the firm and Cornerstone Architects provided the architectural services. Brian Kling and Reed Adler of Colliers International sold the property in a pre-sale transaction to First Industrial Realty Trust.

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The Missner Group Team Gives Back to Feed My Starving Children

The Missner Group Team Gives Back to Feed My Starving Children

Our team gave back by volunteering with the Feed My Starving Children organization. Together, we contributed to packing over 250 boxes, containing 52,200 meals for children all over the world. Our efforts have ensured that 150 children will be able to eat for an entire year. We are so humbled and grateful to have been a part of this meaningful day.

Feed My Starving Children (FMSC) is a non-profit that provides nutritionally complete meals specifically formulated for malnourished children. Donations given by people just like you fund the meal ingredients. Volunteers hand-pack the meals. Meals are donated to FMSC food partners around the world, where kids are fed and lives are saved. For more information visit: www.fmsc.org.

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Energy Efficiency: Why does it matter and how to get there?

Energy Efficiency: Why does it matter and how to get there?

By: Angela Aeschliman

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One of the most significant issues we tackle daily is building energy, whether it be hot or cold calls, interior air quality or the mass amounts of cost for energy.  I have found that many building managers overlook the core issue to solve these time-consuming problems at the building.  Here are some simple steps to get your arms around improving your buildings energy usage and efficiency.

Start with measuring your energy.  I always suggest getting the building on the Energy Star Portfolio Manager platform.  Additionally, many utility companies now have online platforms.  You first have to find out what is happening at the building to improve its performance.

Next, do a building envelope inspection and review your run times on your HVAC systems. Significant strides can be made with these two items alone.  The building envelope would include all door closures, windows, dock areas, and any other physical separators between the conditioned and unconditioned environment of the property.  Where are doors not sealed correctly, being held open or simply too slow to close?  If you have a vestibule turnabout, encourage your tenants to use that instead of double doors. This will significantly impact how much heating and cooling you will need in your lobbies. As it relates to HVAC systems run times; many buildings run 24/7 simply due to issues with their base equipment. However, if you could cut back run times by just a few hours each day your energy usage would reduce 8-15%.

Enlist the help of others.  Start to talk about your goals with your staff and vendors. Great ideas can come from any one of them.  Look into rebate programs and free inspections provided by local utility companies.  ComEd in our area offers several facility assessments that cost you no money and provide recommendations and many times can cover the cost of recommended improvements.

Track your progress.  A large percentage of buildings fall into a B or C class. Those buildings have options to gain certifications to value add to the tenants, owners, and staff.  IREM offers a CSP program (Certified Sustainable Property) that allows you to track step by step your changes, roll out new policies to your building, and help to draft lease language and contract language to ensure the long-lasting effects.  You can find this information at IREM.org.

Energy efficiency first saves a significant amount of money.  One building in our portfolio, Olympian Center, is an all-electric building that was running about $320,000 in electricity annually.  Through some of what I mentioned above and a window film project, we have cut our usage by 20%, in less than one year.  That’s $64,000.  I can imagine you could tell your own great story to owners and Tenant with this type of reduction.  However; more important than the money, our building is running with much fewer hot and cold calls, Tenants are pleased, and staff and vendors feel like they have been part of making the changes.

Lastly, never feel these projects are too big to tackle.  There are several passionate people, including myself, that can help. If you need advice, ask a Vendor, ask your Utility companies, create your building on the Portfolio Manager platform and start your plan with the CSP.

Recent Leasing Activity at Olympian Office Center shows promise for the East-West Corridor

Recent Leasing Activity at Olympian Office Center Shows Promise for the East-West Corridor

The Missner Group is pleased to announce three new leases, occupying 40,200 square feet of the 168,000 square foot, seven-story Olympian Office Center property located at 4343 Commerce Court in Lisle, Illinois, situated along I-88 in the East-West Corridor submarket of suburban Chicago. The three new tenants include tech tenants Application Software Technology (AST) LLC and Anju Software, in addition to manufacturing tenant Rockwell Automation, Inc.

Application Software Technology (AST) LLC has completed an 11-year lease at the property leasing 11,000 square feet of the office property. AST LLC was represented by Jon Springer and Dan Persa of CBRE, Inc.

Anju Software has signed an eight-year lease, leasing 8,100 square feet of the office building. Ryan Moen of Bradford Allen Realty Services represented Anju Software Inc. in this deal.

Finally, Rockwell Automation executed an eight-year lease to occupy 21,100 square feet of the property. Timothy Reynolds and Jon Springer of CBRE, Inc. represented Rockwell Automation in this transaction.

David Florent and Francis Prock of Colliers International represented the owner in all three transactions.

The Missner Group has recently completed the build-out for AST LLC’s space and construction is underway for both the Rockwell Automation and Anju Software space in the Olympian Office Center.

Formerly the headquarter offices of Porsche Cars North America, the Olympian Office Center was acquired by The Missner Group in 2016. The property underwent a wide-spread renovation, which included extensive exterior and interior improvements to modernize the space.  Most distinguishable, The Missner Group painted the exterior of the property, repaved the surrounding parking lot, and implemented all new landscape, which dramatically refreshed the landscape and dated aesthetics of the well-known property. This Class A office property features a Wi-Fi lounge, shared conferencing centers, fitness facility complete with locker rooms, and a Halsted Street Deli franchise available to tenants daily.

A desirable place to live and work, the East-West Corridor is known for its high concentration of corporate headquarters including Navistar, Nicor, and OfficeMax. Situated near major transportation arteries, the submarket allows for easy access to O’Hare International Airport, downtown Chicago, and the north and northwestern submarkets of Chicago.

The Missner Group Announces One New Lease and Two Lease Renewals for Q1 2019

The Missner Group is pleased to announce one new lease and two lease renewals, totaling close to 23,000 square feet for first quarter 2019. One renewal is for the firm’s Touhy Industrial Plaza located at 500 E. Touhy Avenue in Des Plaines, Illinois.  The new Lease and second renewal is for their newly acquired property at 901-929 AEC Drive in Wood Dale, Illinois

Weslite, Inc. has signed a 36-month, 9,000 square foot lease for Touhy Industrial Plaza, where they have been tenants for five years. Weslite Inc. specializes in the distribution of lighting products and innovative technologies nation-wide.

Transworld Freight Systems Corporation has executed a new 50-month lease for 9,000 square feet at 900 AEC Drive in Wood Dale. Transworld Freight Systems Corporation is a new tenant at this property and their services include management of international import and export cargo transportation services.

Additionally, OPC Construction, Inc. has signed a 7,000 square foot, 60-month lease renewal at the Wood Dale property. The company has been at this location for nine years and is a carpentry, drywall, and ceiling contractor specializing in commercial, educational, and institutional construction.

The Missner Group Announces Three New Hires

THE MISSNER GROUP ANNOUNCES THREE NEW HIRES

PRESS RELEASE: The Missner Group is pleased to announce three new hires for their organization. Ron Tamason will serve as The Missner Group’s new senior project manager, Chris Glasder will take on the assistant project manager role, and Theresa Hernandez will serve as an executive assistant.

Ron Tamason is joining our firm bringing over thirty years of project experience. Ron has a diversified range of relevant industry knowledge at every level of the construction process, including but certainly not limited to budgeting, design/build, engineering, and construction management.  Ron will serve as a senior project manager at The Missner Group; his responsibilities will include working on many of Missner’s most complex and challenging projects where his expertise in due diligence, design, value engineering, defining scope, negotiating contracts, establishing and controlling schedules, and delivering projects will be utilized.

Chris Glasder brings a broad skill set to The Missner Group including, value engineering practices, bid processing, supervision of field staff and subcontractor base, and other preconstruction applications. Glasder will serve as an assistant project manager at The Missner Group, with responsibilities that include assisting Project Managers with administrative duties, bidding, awarding contracts, scheduling and overall project management, both in the office and in the field.

Theresa Hernandez brings over ten years of administrative experience to The Missner Group, where she will serve as the executive assistant to our CEO and business development team. Before she became an administrator, Theresa was a member of the United States Armed Forces. We are so pleased to have Theresa here at The Missner group and thank her for her service to our country.

Spotlight on Women in Energy Efficiency Featuring SVP, Angela Aeschliman

Spotlight on Women in Energy Efficiency

by Audrey Bragg

“I think it’s just my personality that allows me to be fearless and put myself in gender-unbalanced situations,” says Stephanie Bassler. “I am doing my best, and I let that speak for itself.” How many of us have heard women’s stories similar to Stephanie’s?

To celebrate Women’s History Month, my staff asked women to reflect on their career roles in energy efficiency (EE). We are honoring the women of the thriving U.S. EE industry. With this sector projected to grow fast, it will offer millions of good jobs for years to come[i]–and to more women than you might imagine.

As of 2018, women make up only 23% of the field[ii]. However, by all accounts women are essential to the industry’s vitality.

Strong U.S. Leaders Set the Tone
Women run major EE businesses. One is Pearl Certification headquartered in Virginia, the nation’s only private certification firm to sponsor the U.S. Department of Energy’s Home Performance with ENERGY STAR program. Pearl owes much of its success to co-founder and CEO Cynthia Adams.For many women who are now leaders, their path has at times felt more like an obstacle course. In a March 2018 Detroit Free Press interview, Carla Walker Miller of Walker-Miller Energy Services described her challenging journey from engineering to entrepreneurial legend: “The construct said I had to wait for a slot that would open every five or 10 years that would accommodate a black female and the right manager.” Rather than waiting for such a position, Carla started her own energy waste reduction business, which now employs 110 people and generates $24 million of revenue annually.

We Can Do It!
Across the country women have found good jobs in the EE industry. Faces of EE highlights hundreds of women EE professionals in 43 states and the District of Columbia. Among their key roles, women perform energy audits, develop new technologies, and own and operate businesses.

I sought insight about the day-to-day experiences of women working for cleaner air, more comfortable homes, and lower energy bills. We captured testimonials that document rewarding careers. Three notable EE leaders took the time to speak with us, each of whom encourages more women to seek opportunities in this growing field.

Three Women’s Stories: Arizona, Illinois, New York
Elena Chrimat is co-owner and co-founder of Ideal Energy AZ. Her Arizona business specializes in making homes more efficient by providing full HVAC service, maintenance, and repairs as well as new installations.

Elena Chrimat lives in Tempe and is co-owner and co-founder of a Phoenix business

Elena conducted the company’s first energy audit in 2009. She enjoys helping the company to grow. Ideal Energy AZ is a highly-ranked business (as of today, 5 stars on Facebook; 4.9 stars on Google with 63 reviews) that employs more than a dozen people. Elena feels that the most gratifying aspect of her job is receiving feedback from customers about improved quality of life and lower bills following HVAC installation or service. There’s only one other woman at the company, and Elena has grown accustomed to some of the challenges of working in a field dominated by men.

“Initially you have to work harder to establish trust and prove that you know what you’re talking about,” she says. “It is sometimes more difficult since a lot of employees are men…I’m not going to let obstacles I face as a woman get to me…You just have to work a little harder.”

In 2018 Elena’s company received the highest honor from Energy Star. Elena plans to strengthen process implementation to allow the business to run even more smoothly.

Angela Aeschliman is Vice President of Property and Asset Management at a real estate development and construction company

Angela Aeschliman is VP of Property and Asset Management at the Missner Group in Chicago. Her work involves everything from managing lease obligations, forecasting operating and capital expenses, working with utilities and rebates, collaborating with owners and investors, and coordinating ongoing efficiency training with her team. She describes her role as involving not only property management, but also people management. Angela feels rewarded when she addresses inefficiencies by saving water and energy in buildings. One of the more difficult aspects of Angela’s job is protecting capital for implementing EE measures, as this budget is too often used for unexpected expenses.

“I dream about a day when there is disclosure about energy use in an asset…people don’t realize how much payback you can get,” Angela says. “Little changes can have a big impact.” Angela believes that education about the jobs that exist is essential to encouraging more women to join the industry.

Finally, we spoke with Stephanie Bassler, principal at North River Architecture and Planning, PC (NRAP) in Stone Ridge, New York. NRAP is a full-service architectural practice that specializes in highly energy-efficient design. Stephanie is a registered Architect and a certified Passive House consultant. Many of NRAP’s projects are designed to Passive House efficiency standards, and several have reached the high bar of Passive House certification. One such project is in Accord, New York. The home produces more energy than it uses, thanks to a thoughtful design that integrates solar rooftop panels. As a NetZero building, it is also a healthier, more comfortable, and lower-maintenance home.

Stephanie hopes NRAP will continue to grow, and that their Passive House design projects can expand to include multi-family homes. She feels that encouraging women to seek employment in the EE field needs to start early when girls are still in school and that it’s important for young women to have access to mentors.

Women in EE: Going Forward
These leaders provide examples of the diverse options for women in the industry. Despite their underrepresentation in the overall EE workforce, women bring enormous value. They also enable companies to gain new perspectives. For instance, a deep understanding of a customer’s viewpoint is important for home performance, and women are heavily involved in decisions about home improvements.[iii] For businesses and for individuals, more women joining the industry is a win-win.

THE MISSNER GROUP AND TIMBER HILL GROUP ANNOUNCE NEW PARKING FACILITY DEVELOPMENT IN MELROSE PARK

The Missner Group and Timber Hill Group are pleased to announce the development of a new 12.5–acre overnight truck parking facility in Melrose Park, Illinois. The development will be situated at 2100 N 15th Avenue, along Armitage Avenue in the O’Hare Cook County submarket of Chicago.

The Missner Group will demolish the existing 300,000 square foot dilapidated multi-tenant industrial building. In its place, the firm will construct a modern, gate-secured, fully-lighted monthly parking facility for 285 tractor-trailers. Additionally, the facility will be complete with the installation of a storm water detention system, all new electric service, security system monitoring activity, as well as full-site landscaping with a fence enclosure.

“The O’Hare market suffers from a lack of supply of efficient and secure tractor and trailer parking.” says Cary Goldman, Owner of Timber Hill Group. “The distribution economy fed by Ecommerce requires both high cube warehousing and parking for the thousands of trucks that service the area daily. We appreciate that Melrose Park joined us in recognizing this demand and helping us to create a solution,” says Goldman.

Located in the heart of the Melrose Park industrial sector, the facility is in a highly concentrated transportation hub, with immediate access to Interstate-294, Interstate-290, and local railways. The area is dense with a diverse mix of manufacturing, distribution, residential and retail properties.

The Missner Group’s senior project manager, Bob Papineau, general superintendent, Angelo Christopher, and project superintendent, Mike Sneddon, will lead construction on behalf of the firm. Construction is underway and the development is set to be complete by summer 2019.

THE MISSNER GROUP ANNOUNCES THREE NEW LEASES, TOTALING 40,200 SF FOR OLYMPIAN OFFICE CENTER PROPERTY IN LISLE

The Missner Group is pleased to announce three new leases, occupying 40,200 square feet of the 168,000 square foot, seven-story office property located at 4343 Commerce Court in Lisle, Illinois, which is situated along I-88 in the East/West Tollway submarket of suburban Chicago.

Application Software Technology (AST) LLC has completed an 11-year lease at the property leasing 11,000 square feet of the office property. AST LLC was represented by Jon Springer and Dan Persa of CBRE, Inc.

Anju Software has signed an eight-year lease, leasing 8,100 square feet of the office building. Ryan Moen of Bradford Allen Realty Services represented Anju Software Inc. in this deal.

Finally, Rockwell Automation executed an eight-year lease to occupy 21,100 square feet of the property. Timothy Reynolds and Jon Springer of CBRE, Inc. represented Rockwell Automation in this transaction.

David Florent and Francis Prock of Colliers International represented the owner in all three transactions.

The Missner Group has recently completed the build-out for AST LLC’s space and will begin construction for both the Rockwell Automation and Anju Software space in the Olympian Office Center.

Acquired by The Missner Group in 2016, the Olympian Office Center underwent a wide-spread renovation, which included extensive exterior and interior improvements to modernize the space. New features include a WiFI lounge, shared conferencing rooms, workout facilities complete with locker rooms and showers, new elevators, window treatments and significant lobby improvements including all new common area furniture.

THE MISSNER GROUP AND TIMBER HILL GROUP SELL NEWLY CONSTRUCTED 84,000 SF INDUSTRIAL DEVELOPMENT IN WHEELING

Joint-development partners, The Missner Group and Timber Hill Group, are pleased to announce the sale of their recently completed development, Chaddick Industrial Centre, located at 1075 Chaddick Drive in Wheeling, Illinois. 

Kohlberg Kravis Roberts & Co. purchased the modern 84,000 square foot facility, which leased 64% of the total space to a single tenant during the construction phase of the project. Jonathan Kohn of Colliers International represented the buyer in this transaction.

The property lies within the Northeast Cook County submarket of Chicago, making it eligible for Cook County’s Class 6B tax incentive status.  The building features attractive pre-cast and glass elevations, ESFR fire safety system, 30’ ceiling clear heights, ten exterior loading docks, drive-in doors, and 99 parking stalls. The Missner Group completed construction of this development last fall.

THE MISSNER GROUP AND TIMBER HILL GROUP COMPLETE CONSTRUCTION OF 84,000 SF INDUSTRIAL DEVELOPMENT IN WHEELING

Joint-development partners, The Missner Group and Timber Hill Group, are pleased to announce the completion of construction at 1075 Chaddick Drive in Wheeling, Illinois. 

The modern 84,000 square foot facility lies within the Northeast Cook County submarket of Chicago, making it eligible for Cook County’s Class 6B tax incentive status.  The property features attractive pre-cast and glass elevations, ESFR fire safety system, 30’ ceiling clear heights, ten exterior loading docks, drive-in doors, and 99 parking stalls.

 “We are pleased to once again partner with our colleagues at Timber Hill Group on this Wheeling development,” said Barry Missner, CEO of The Missner Group. “The proximity of the site to O’Hare and the Interstate system, as well as its access to a skilled labor force and executive communities, make this a viable project for our portfolio and will make it an attractive option for an industrial user requiring a new, modern facility in a sought-after submarket.” 

Chaddick Industrial Center leased 64% of the total space to a single tenant during the construction phase of the project. There remains one non-divisible space in the building of 31,000 square feet. Brett Kroner, Keith Puritz, and Eric Fischer of Cushman and Wakefield represent ownership

The Missner Group served as the general contractor for this development. The construction team included Ron Cinkus as senior project manager, Angelo Christopher as general superintendent, and Mike Sneddon as project superintendent. 

THE MISSNER GROUP BEGINS CONSTRUCTION FOR WEST LOOP COMMERCIAL REDEVELOPMENT

The Missner Group is pleased to announce the firm has begun construction at the Oxxford, located at 1220 West Van Buren Street in Chicago. The Missner Group plans to redevelop the current seven-story, 115,000 square foot office/showroom, and manufacturing building into a nine-story, 140,000 square foot Class A, loft office/commercial building to further support the growing demand of companies seeking a West Loop location.

The Missner Group’s redevelopment plans for 1220 West Van Buren include constructing open floor plans with concrete and brick features throughout the space. They will also incorporate modern tenant amenities including a tenant lounge with rooftop deck, a fitness center equipped with locker rooms and a lounge, multiple Wi-Fi gathering locations, a conferencing center, as well as bike parking facilities, all with the goal of keeping the character and respecting the history of the property.

 “The Oxxford is located at the corner of Van Buren and Racine, within Chicago’s West Loop’s recent retail, office, and residential boom. The neighborhood’s resurgence has made it one of Chicago’s ideal places to live, work and play,” said Glen Missner, president of The Missner Group. “The building offers excellent access to public transportation, the Eisenhower Expressway, and a myriad of dining and nightlife options. It also lies within an area of increasing residential density and diverse demography, making it an ideal opportunity for the commercial and office markets.”

The Oxxford is surrounded by new residential and commercial developments, offers full-frontage off the Eisenhower Expressway (I-290) with signage options available, and is minutes from the Racine ‘L’ stop, University of Illinois Circle Campus and Rush University Hospital.

 “The Oxxford’s storied legacy and vintage building charm, which includes 14’ to 16’ ceiling heights, open floor plans, and skyline views will be further enhanced through the addition of new, modernized amenities. It’s a unique opportunity for this area, and we’re proud to bring it to the market,” added Missner.

Jack McKinney, Jr. of Cushman and Wakefield will represent the property on behalf of The Missner Group. Wright Heerema Architects will provide the architectural services. Construction is set to be completed mid – 2019.

SVP, Angela Aeschliman, Sworn in as IREM®'s President-Elect

Our SVP of Property and Asset Management, Angela Aeschliman, was sworn in as IREM’s President-Elect at their 2018 officer installation ceremony. Her primary responsibility will be to assist with member engagement and the organizational value. Her tasks will include:

• Help with member retention and prospective member recruitment

• Hold programs that benefit our mission and meet member needs

• Work to include educational aspects in organization programs wherever possible

• Promote IREM credentials and the organization within the community, industry and media

• Write periodic articles & letters for the website/social media outlets

Additionally, Angela currently serves as IREM’s Sustainability Advisory Board Chair, which oversees and manages IREM’s Certified Sustainability Property (CSP) certification. The certification allows property managers to gain recognition for properties not covered by other programs, extend sustainability across their portfolio, or start a sustainability initiative from scratch.

Congratulations, Angela!

[Others photographed:Kris Haskins of Colliers International, Stephen Schimmel of Mclennan Property Management, and Colleen Needham of Draper and Kramer, Incorporated.]

PRESS RELEASE: THE MISSNER GROUP ANNOUNCES 117,000 SF 10 -YEAR LEASE RENEWAL AND RENOVATION PROJECT FOR BUNZL RETAIL SERVICES

PRESS RELEASE: The Missner Group is pleased to announce a 10-year, 117,000 square foot lease renewal with Bunzl Retail Services at 8338 Austin Avenue in Morton Grove, Illinois. Additionally, The Missner Group has been selected general contractor for a large scale renovation which will include significant upgrades and improvements to Bunzl’s 50,000 square foot offices in addition to the remaining warehouse and distribution portion of their space.

“We are pleased Bunzl Retail Services has made this long term commitment and is continuing their tenancy at our Morton Grove property,” says Eddie Adler, Executive Vice President of the Missner Group. “We look forward to delivering a great space to their company, one that their whole team can grow into, be more productive and enjoy for many years to come.”

The project will include expanding the office space by 8,500 square feet bringing that total to 50,000 square feet, in addition to an expansion of the warehouse facility by 12,500 square feet bringing that part of their space to over 67,000 square feet.

The renovation will consist of extensive interior and exterior improvements modernizing the space and the existing building both inside and out. Enhancements will be extensive and include all new high end office finishes as well as upgrades to the manufacturing/distribution space. A few of the numerous enhancements will include new flooring, ceilings and lighting throughout. The Missner Group will also upgrade all plumbing, electrical and HVAC systems.

Adler negotiated the lease on behalf of ownership. Heath Yarger, project manager for the Missner Group, will lead the construction team with Bill Uchyn serving as project superintendent. Interior Design Group, Ltd will provide the architectural services.

With operations across North America and Europe, Bunzl Retail Services is a leading provider of customized supply chain management solutions to corporations around the world. They have worked out of this location for more than 40 years.

VP, Aldo Bottalla, and COO, Bob Nomellini, Speak on Experiential Shift of Auto Dealerships

The Missner Group’s COO, Bob Nomellini, and VP, Aldo Bottalla, were featured in REJournals’ article centered on the shift of construction within the automotive sectors:

“As brick-and-mortar retail battles the onslaught of e-commerce, a movement has grown toward experiential sales. If fewer customers are coming out to shop for physical goods, then sell them an experience instead. It’s quite difficult, after all, to ship 20 minutes of indoor skydiving from an overseas supplier.

But even for stores that still earn money off of moving product, the experience is key. Many retailers now offer amenities to entice customers out from behind their screens and into the showroom. And as the trend in auto dealerships indicates, this is a model with virtually no bounds.

“One of the things we’re seeing a lot of is dealerships becoming a place to hang out,” said Aldo Bottalla, vice president of business development at The Missner Group. “They want to keep people at the dealership and make it a comfortable atmosphere.”

The Missner Group has completed a number of new or refurbished auto dealerships recently, and careful attention has been given to the finishes and amenities in an effort to draw customers in and keep them there longer.

The firm was the design/builder for a 14,000-square-foot, large scale renovation for McGrath Acura in Westmont, Illinois, which included glass-enclosed offices off of the showroom, a two-sided fireplace, coffered ceilings, a 30- by 14-foot gable skylight inside the main entrance, a custom fish tank and other high-end finishes throughout.

“Dealerships all have specialty looks that they want,” said Bob Nomellini, COO of construction at The Missner Group. “They spend a lot of money on the insides of their spaces with high-end finishes these days.”

Another dealership, Berman Subaru, tapped Missner on its two-building renovation at 4330 and 4444 Irving Park Road in Chicago. Amenities include a café and Wi-Fi lounge furnished with leather chairs and lit by LED lights as well as a sculptural, wood veneer chandelier.

Other amenities include phone-charging stations, putting greens and children’s play areas complete with video game console. Some dealerships will serve breakfast or lunch out of a full kitchen, or host fundraising events such as poker nights—anything to draw in more people. Impulse buying isn’t just for candy bars at the grocer’s checkout counter; more people in the building perusing the display models equate to more possible car sales.

This approach applies to the service area as well. Dealerships are shrinking the turnaround time for vehicle service, especially on relatively small jobs. While this is obviously good customer service, it’s a tactic that also brings more people into the facility.

If a customer has to wait too long or enter a queue for a small service job, they’ll just drop the car off and retrieve it later. But if the work can be completed in 20 to 30 minutes, they will more likely opt to grab a coffee or do some work on their laptop over the free Wi-Fi. They also might go meandering through the showroom.

“A big part of it for these dealers is service, probably more so than the new car sales,” said Nomellini. “People will come in and sit and wait for their oil changes and other small services.”

The Missner Group recently completed construction of the new, state-of-the-art Chicago Northside Toyota, located at 6042 N. Western Avenue in Chicago. The five-story, 227,900-square-foot dealership is one of the largest of its kind.

The environmentally friendly dealership contains a 45,000-square-foot green roof and 183,000 square feet of interior space, including a 30,000-square-foot showroom. Surrounded by 28-foot glass panels, the showroom is capable of exhibiting over 35 vehicles, with vertical display on the second and third floors.

Construction of the facility included the implementation of unique amenities to ensure customer satisfaction and retention. Guests of the dealership enjoy indoor valet parking and a children’s play area. The contemporary customer waiting lounge offers free Wi-Fi and Starbucks coffee bar, with space for up to 100 guests.

Many of these decisions are out of ownership’s hands, instead dictated—or heavily influenced—by the manufacturers. Some manufacturers require that new facilities adhere to a style guideline so that a guest walking into a Volkswagen dealership will encounter the same atmosphere whether that facility is in Chicago, Houston, Atlanta or elsewhere.

Particularly for the high-end finishes, that can be driven by manufacturer input. When someone buys a car, they are usually given a customer satisfaction survey. The results go back to the manufacturers, who dole out customer service inquiry money to the well-performing dealerships.

“They want to make sure that how these customers perceive their dealerships is nothing less than state of the art,” Bottalla said.

Whether new or refurbished, car dealerships are skewing toward luxury and convenience, desirous to offer an experience as much as a product. If this trend can work where the product costs tens of thousands of dollars, it should be successful throughout the retail industry.”


TMG Sponsors and Participates in Chicago's Make-A-Wish Walk

The Missner team participated in Chicagoland’s Make-A-Wish walk at Busse Woods yesterday. By walking, our team helped bring the life-changing impact of a wish to children battling life-threatening medical conditions in our community. Since 1985, Make-A-Wish® Illinois has touched thousands of lives, granting wishes to more than 14,000 children battling life-threatening medical conditions.

For this walk, The Missner Group raised over $15,000 for the Make-A-Wish Foundation. Thank you to all who donated to our team and helped support us in giving back to this incredible cause: Glander Paving, All American Exterior Solutions, M K Industries, Connelly Electric, ATMI Precast, Active Glass, MVP Plumbing, Valley Fire Protection, Brandonisio & Company, Artlow Systems, Midwest Grading, and K & E Painting.

PRESS RELEASE: The Missner Group and First Industrial Realty Trust Break Ground on Industrial Building in Aurora

Joint-development partners, The Missner Group and First Industrial Realty Trust, are pleased to announce ground has broken on the 173,000 square foot industrial development at 1998 Melissa Lane in Aurora, Illinois.

The development, located on a 9.7-acre site on the far West Side of the Orchard Road Corridor, will be designed to accommodate up to three tenants.  The building will feature office to-suit, 32’ clear heights, 22 loading docks, drive-in doors and an ESFR fire safety system.  Additionally, the property will offer 174 parking spaces, a 12-trailer parking lot, and all new landscaping throughout the building’s exterior.

The Missner Group’s project manager, Kent Nepras, and senior project superintendent, Steve Bulger, will lead construction on behalf of the firm. Brian Kling and Reed Adler of Colliers International are the property’s brokers. Cornerstone Architects provided the architectural services.

Included in the photo: Mayor Richard Irvin, Alderman Carl Franco, Herman Beneke, Dan Feltman, Mary Garza, Ed Sieben, Souts Thavong and Tracey Vacek with the City of Aurora; Adam Moore, Senior Regional Director with First Industrial; leasing agents Brian Kling and Reed Adler with Colliers International; Barry Missner, CEO, Glen Missner, President, Bob Nomellini, COO, Kent Nepras, Project Manager, Steve Bulger, Superintendent and Allison Heraty with The Missner Group; Maureen Prochenski,  Senior Vice President of Commercial Real Estate at First American Bank; and Jonathan Achs, Cornerstone Architects.

PRESS RELEASE: The Missner Group Announces New Lease, to Build-Out 11,000 SF Office for Application Software Technology (AST) LLC

The Missner Group is pleased to announce a new 11-year lease at the Olympian Office Center located at 4343 Commerce Court in Lisle, Illinois.  Application Software Technology (AST) LLC is leasing 11,000 square feet of the 168,000 square foot, seven-story office property situated along I-88 in the East/West Tollway submarket of Suburban Chicago.

The Missner Group will build-out their space to include an open-office concept, along with a number of private executive suites, reception areas, high-end conferencing facilities, and employee lounge areas. Contemporary finishes will be incorporated throughout the office space, including fresh paint, lighting, custom millwork, and flooring.

Acquired by The Missner Group in 2016, the Olympian Office Center underwent a wide-spread renovation, which included extensive exterior and interior improvements to modernize the space. New features include a Wi-Fi lounge, shared conferencing rooms, workout facilities complete with locker rooms and showers, new elevators, window treatments and significant lobby improvements including all new common area furniture. Most notably, The Missner Group painted the exterior of the building, dramatically refreshing the dated aesthetics of the well-known property.

Heath Yarger, project manager for The Missner Group, will lead the construction team on behalf of the firm with Scott Nomellini serving as project superintendent. Interior Design Group Ltd. will provide the architectural services. Francis Prock and David Florent of Colliers International represented the owner in this transaction. Jon Springer and Dan Persa of CBRE, Inc. represented the seller.