“Our vision for this deal was to retain the tenant as an existing anchor tenant at Continental Executive Park, with the ultimate goal of creating a corporate campus,” said John M. Schneider, Owner of JMS Capital Group Real Estate.
PITTSBURGH (PRWEB) March 30, 2020
JMS Capital Group Real Estate, in its role as asset manager for PWA Continental Executive Parke, LP, facilitated an eleven-year $44M lease with a major national tenant at Continental Executive Parke, located at 300 & 340 N. Milwaukee in Vernon Hills, Illinois. After more than a year of negotiations, JMS Capital Group Real Estate reached an agreement with the tenant to remain at the Continental Executive Park office park location and commit to a long-term relationship. Included in the deal was a plan to create a 176,000 square foot state-of-the-art corporate headquarters. “Our vision for this deal was to retain the tenant as an existing anchor tenant at Continental Executive Park, with the ultimate goal of creating a corporate campus,” said John M. Schneider, Owner of JMS Capital Group Real Estate. The Pittsburgh-based law firm Maiello, Brungo, & Maiello assisted with structuring the deal.
The upgrades to the campus include: a complete renovation of 75,444 SF building, upgrades to their current 100,000 SF campus, new parking lots, and connecting the two buildings with innovative landscaping. “The two buildings on the campus are completely renovated, creating a high-end corporate headquarters with upgraded indoor and outdoor spaces,” says Schneider. Upgraded seating and picnic areas were added to the exterior spaces to match the state-of-the-art indoor office space and to take advantage of the two lakes on the property. Renovations are continuing, with walkways between the buildings planned, which will complete the corporate campus project for the tenant. Renovations on two of the four buildings at Continental Executive Parke will continue through the spring. The grand opening of the completely renovated corporate campus is expected in late 2020.
JMS Capital Group Real Estate has facilitated commercial property developments in the Mid-West and on the East Coast. John M. Schneider and his team at JMS Capital Group Real Estate work to leverage their relationships to allow property owners to take advantage of low lending rates for cost-effective results.
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About JMS Capital Group
After a 12-year career with PWA, John M. Schneider founded JMS Capital group in 2015. JMS Capital Group provides real estate services from its base in the Pittsburgh area, including property management services, brokerage and ground-up development throughout the Mid-West and Mid-Atlantic. In addition, the company manages co-sharing office spaces in five U.S. cities, including Pittsburgh, Minneapolis, Cleveland, Indianapolis and Chicago. The company manages $375 million in assets.
About Maiello, Brungo & Maiello
Maiello, Brungo, & Maiello is a Pittsburgh-based law firm that provides legal services to individuals, businesses, and organizations. The firm was founded by attorney Alfred C. Maiello more than thirty years ago. Today the firm has attorneys experienced in representing commercial office and retail development real estate holdings, led by Partner Lawrence Maiello. The firm also handles construction law, corporate law, education law, estate planning, employment law, litigation, municipal law, real estate law, and tax assessment.