Friday, April 28, 2017

Fifield Realty Corp. and F & F Realty Ltd. Break Ground on 727 West Madison; At the corner of Madison and Halsted streets, 727 will be the tallest tower west of the Kennedy Expressway

Randy Fifield

 CHICAGO, IL (April 28, 2017) – Chicago-based Fifield Realty Corp. and F & F Realty Ltd. broke ground Wednesday, April 26, on 727 West Madison (also known as One South Halsted): a 44-story, 492-unit luxury rental tower with more than 10,000 square feet of retail space.

At just under 500 feet, it will be the tallest building in Chicago’s West Loop upon its completion in late 2018. 

Dr. Laura Calamos

Speaking at the groundbreaking event were David Friedman, president of F & F Realty Ltd.; Randy Fifield, chairwoman of Fifield Realty Corp.; Steve Fifield, chairman of Fifield Companies; 27th Ward Alderman Walter Burnett Jr.; Dr. Laura Calamos, president of the National Hellenic Museum located in West Loop’s Greektown; and Irene Koumi, president of the board of directors for the Chicago Greektown Educational Foundation.

Both Dr. Calamos and Ms. Koumi were presented with life-sized checks for $30,000 for each of their respective organizations as a donation from 727 West Madison.

David J. Friedman
“We’re so thrilled to have the neighborhood growing, expanding and evolving,” said Dr. Calamos. “Last year, the National Hellenic Museum served over 15,000 people through classes, tours and field trips. 

"We believe there is so much to learn from our history and our heritage. This building is a wonderful addition that allows us to bring more education to a larger community.”

Designed by Chicago-based FitzGerald Associates Architects, with Lendlease as general contractor and interior design by Evanston-based Morgante Wilson Architects, the residences at 727 West Madison will include studio, one-, two- and three-bedroom layouts ranging from 490 to 1,550 square feet.

Individual units will be appointed with plank flooring; oversized windows with views of downtown and Lake Michigan; kitchens with quartz countertops, flat-paneled cabinets, high-end stainless steel appliances and single-bowl undermount sinks, and Grohe Concetto faucets; and bathrooms with quartz countertops, frameless glass shower doors, and porcelain tile walls and flooring.

Select units will feature walk-in closets in the master bedroom and double- bowl vanities in the master bathroom.

Steve Fifield
From 727 West Madison, residents will be within walking distance of popular grocers and retailers, one-of-a-kind shops, Randolph and Fulton Street restaurants, nightlife, CTA stops and Metra stations, Divvy stations, and a large number of employers across multiple industries.
 “Google is here and McDonald’s is coming, Sterling Bay has a big presence, and every day you hear about more tech firms coming to the West Loop,” said Randy Fifield. “It was important to us to create a luxury building that would serve a diverse demographic of people wanting to enjoy the West Loop experience.”

Outdoor amenities at 727 West Madison will include a large sun terrace with a pool, spa, cabanas, and grilling stations with intimate seating areas with porticos for dining and lounging.

Indoor amenities will include a fitness club with a yoga, barre and Pilates studio; private massage room; resident lounge with demonstration kitchen; state-of-the-art screening room with surround sound; ‘WeWork’-style business center and conference rooms with presentation screen, work carrels, and high-speed Wi-Fi; dog spa; and bicycle “kitchen” with extensive bike storage, supplies, tools and air pumps. High-speed internet and DIRECTV will be available in all units.

 Residents will have access to a 24-hour on-site concierge and adjacent parking garage with 375 parking spaces.

Alderman Burnett acknowledged David Friedman for spearheading development of the empty site and for his collaboration with community organizations like the Greektown SSA and the West Loop Gate Association.

Walter Burnett Jr.
 He recognized the project’s financial contributions to the National Hellenic Museum and the Chicago Greektown Educational Foundation, as well as its $1 million donation for affordable housing to be built in the 27th Ward.

Friedman, who owns the 398-room Crowne Plaza Metro adjacent to the 727 West Madison site, thanked Alderman Burnett for entertaining discussions on 727 West Madison beginning in 2009. 

He also recognized FitzGerald Associates for beautifully articulating a vision for the building during its early stages of development.

“It’s a very exciting day for us,” said Friedman. “It gives us a lot of pride to make this contribution at the gateway of the West Loop. We’re honored to co-develop this building with the Fifields, who have the ability, the finesse, and the flair to create an iconic apartment tower.”

For a complete copy of the company’s news release, please contact:

Gretchen Muller,, (312) 267-4511
Kim Manning,, (312) 267-4527

NAI Realvest Negotiates Acquisition by Arthur Murray Dance Studio Franchisee of a free-standing building in Lake Mary, FL for $973,050

Mary Frances West
Lake Mary, FL – NAI Realvest recently negotiated the acquisition of a free-standing building with 4,990 square feet at 840 Currency Circle in Lake Mary.    

Mary Frances West, CCIM, Vice President at NAI Realvest represented the Buyer Mohic LLC d/b/a Arthur Murray Dance Studio who paid $973,050 for the property. 

The Seller Beaver Dam Development, LLC of Raleigh, N.C. was represented by Mark Harkins of Harkins Commercial Real Estate.  

West also represented Arthur Murray Dance Studios in leasing locations in Dr. Phillips, Waterford Lakes and Winter Park.

For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications, 407-644-4142

CBRE National Retail Partners West Completes $33.25 Million Sale of BeachWalk in Solana Beach, CA

Solana Beach, CA BeachWalk Retail Center

John Read
SOLANA BEACH, CA  – CBRE’s John Read announced that his National Retail Partners – West (NRP-West) team along with Reg Kobzi in CBRE’s San Diego office completed the sale of BeachWalk, a 54,973 square-foot coastal retail center in the city of Solana Beach, Calif.

Situated along Highway 101, the property is steps to the Pacific Ocean, walking distance to the Cedros Design District and Amtrak Train Station, and less than a mile from the world famous Del Mar Fairgrounds, site of the Del Mar Racetrack. The sale price was $33.25 million.

CBRE’s retail investment experts Read, Philip Voorhees, Jimmy Slusher, Kirk Brummer, and Kobzi, represented the seller, a partnership managed by The Muller Company, an Orange County-based real estate investment company. 

The buyer, a fund manager based in Chicago, also represented by CBRE’s NRP-West team, acquired BeachWalk as an addition to its portfolio.

Built in 1993, BeachWalk shopping center sits on 3.06-acre site at 437 S. Highway 101 in Solana Beach. According to Read, the CBRE team’s marketing system distributed more than 540 offering memoranda to investors and brokers, and through the team’s "managed bid" offer process, generated eight offers to purchase the property.

Phillip Voorhees
"True coastal retail projects like BeachWalk seldom come to market. The property’s internet-resistant ‘daily needs’ and complementary tenancy with national, regional and local operators including California Pizza Kitchen, Alfonso’s of La Jolla, Rubio’s Coastal Grill, Banfield Pet Hospital, and other established tenants, make the property an integral part of this coastal community," said Read.

"There are few alternatives in this immediate area and coastal areas in general for tenants seeking more traditional retail center space with adequate on-site parking, keeping occupancy levels high,” Read noted.

“Based on the property’s configuration, strong historical occupancy, improving tenancy and upward trending rents in this highly affluent trade area where average household income exceeds $142,000, Beachwalk is a trophy asset in a coastal location that will maintain its dominant market position for years to come."

For a complete copy of the company’s news release, please contact: