Intersect Illinois has announced the addition of four new members to its board of directors: Lisa C. Freeman, president of Northern Illinois University; John M. Holmes, chairman, president and CEO of AAR Corp.; Michael Jacobson, president and CEO of the Illinois Hotel & Lodging Association; and Rashod R. Johnson, president and CEO of Ardmore Roderick.
Dylan Batman has been promoted to vice president at Maverick Commercial Mortgage Inc., where he has played a key role in financing over $750 million in commercial mortgages and related transactions over the past five years. The company specializes in financing for multi-family properties, industrial buildings,and retail spaces nationwide.
Cushman & Wakefield recently announced that Joan Firnhaber (LEED AP O&M)and Jennifer Stumm (LEED AP ID+C) have been promoted to lead Twin Cities’ Project Development Services team as Senior Director and Director respectively.Firnhaber will oversee the overall PDS team as well as continue leading their Investor Services group while Stumm will head up their Occupier Services PDS team which assists clients with defining real estate needs aligned with business goals before providing design/construction services.
Entre Commercial Realty successfully completed a 25-year lease for 25,000 square feet at 175 Prairie Lake Road in East Dundee,Illinois.The modern facility was built this year with amenities such as four docks/drive-in doors,floor drains,a new office buildout,and fully air-conditioned warehouse space.Mike DeSerto,Cory Kay,and Elisabeth Lazzara represented Entre Commercial Realty while John Greene Commercial represented the tenant.
According to Transwestern’s latest report,the availability rate for sublease space in Chicago has decreased for four consecutive quarters.In December 2024 there were only270 available sublease spaces totaling6.3 million square feet.This accountsfor just under4%ofthe market’s total inventory on topofthe 22.2% direct vacancy rate at the end of Q3 in 2024.
