Property Owner

Whole Foods has signed a lease for approximately 30,000 square feet of ground floor retail space at the southwest corner of 51st and Lake Park in Chicago’s Hyde Park neighborhood.

The project, designed by renowned architect Jeanne Gang of Studio Gang Architects, will have both retail and residential components. In addition to the Whole Foods grocery store, the development includes 20,000 square feet of ground floor retail space for small shops or restaurants. A

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BGC Partners, Inc., one of the world’s leading voice and electronic brokers serving the global wholesale financial markets, today announced that it has entered into an agreement to acquire Newmark, the real estate advisory firm which operates as Newmark Knight Frank in the U.S. and which is associated with London-based Knight Frank, which has extensive offices throughout the rest of the world. The transaction, which encompasses approximately 425 Newmark brokers and includes Newmark’s New York business as well as a majority interest in over 25 other domestic offices and certain of its affiliates, will be immediately accretive to BGC.

Howard W. Lut

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CREDAI (Confederation of Real Estate Developers Associations of India) on Thursday presented a time-bound programme to the government to tackle the menace of corruption in the real estate sector. “The Confederation today presented a time-bound action plan to union urban development minister Kamalnath at the two-day 11th National Conference ( NATCON) of CREDAI in Singapore,” said a CREDAI official. CREDAI national president Lalitkumar Jain, said the developer community was being branded as being corrupt. He said the confederation woud seek an appointment with the prime minister to discuss ways and means to check the cancer of corruption instead of indulging in blame game.

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Jones Lang LaSalle has announced that TCF Inventory Finance, Inc. — an indirect subsidiary of Wayzata, Minnesota-based TCF Financial Corporation, a bank holding company with $18.5 billion in total assets — will move its corporate headquarters to a 45,156-square-foot sublease space at the Schaumburg Corporate Center.

Jock Howland and Sean Reynolds of Jones Lang LaSalle completed the transaction on behalf of TCF Inventory Finance, which specializes in lending to the consumer electronics, household appliance, lawn and garden, powersports and specialty products industries.

The company, which is currently headquartered in a 24,600-square-foot space at 2300 Barrington Road in Hoffman Estates, will nearly double the size of its space in the move, which is scheduled for May. TCF

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