Cawley Chicago has announced the appointment of Zach Pruitt, Principal, and Nicholas Schaefer, Vice President, as the firm continues to build on its newly launched Urban Redevelopment and Adaptive Reuse Client Services platform in Chicago and the surrounding areas.
The appointment solidifies the Chicago city industrial practice group and reunites Pruitt and Schaeffer with Doug Hayes, Frank Melchert and Stevan Arandjelovic. The five real estate professionals have joined Cawley Chicago since the end of 2017. They previously worked for NelsonHill in Chicago.
“Cawley Chicago continues to build on the platform of services we’re offering to clients,” said Mike McKiernan, principal and sales manager, Cawley Chicago. “The addition of Zach and Nicholas, and reuniting them with Hayes, Melchert and Arandjelovic, creates a unique services team for building and business owners in Chicago and its neighborhoods.”
The focus of Cawley’s Urban Redevelopment and Adaptive Reuse Services Team typically is a two-part process that assists owners of commercial real estate in maximizing their asset’s value and then, potentially, relocating their operations to a more efficient and productive locations. This consists of representing owners with the sale of their properties by positioning the asset for highest-and-best-use; and assisting owners of underperforming assets by creating a strategic leasing initiative; and implementing a comprehensive marketing approach to achieve increased occupancy.
The team’s concentration branches from the core of downtown Chicago, outward to an in-depth knowledge of Chicago’s unique neighborhoods and submarkets.
“By aligning our client’s real estate needs and goals with a comprehensive strategy, we leverage an in-depth understanding of the market and its individual submarkets, with a driven approach, to provide optimal results and maximum returns,” Pruitt said.
Zach Pruitt brings 15 years of extensive real estate experience, ranging from complex lease negotiations and sale-leasebacks to build-to-suits and portfolio management. He has successfully represented clients, from small businesses to Fortune 500 companies, throughout the greater Chicagoland area and in more than 50 markets nationally and internationally. Pruitt previously spent over ten years at NelsonHill, and DTZ/UGL Equis.
At Cawley Chicago, Zach Co-heads the firm’s efforts to establish a downtown office and is a leader of the Urban Redevelopment and Adaptive Reuse Services Team. In addition to site disposition and lease representation, Pruitt and the team provide thorough representation to end-users in need of new space as a tenant or owner-user, and representation to investors and developers evaluating acquisitions.
Nicholas Schaefer joined Cawley Chicago with a focus on Urban Redevelopment and Adaptive Reuse in Chicago and surrounding areas. Nicholas’ clients have benefited from his expertise in sale and lease negotiations for acquisitions and dispositions, site selection, and his creative vision for underutilized assets. His extensive market knowledge, strong negotiating skills, and tenacious work ethic have allowed him to create maximum value for his clients in real estate.
Earlier this year Cawley announced the appointment of Hayes, Melchert and Arandjelovic:
- Doug Hayes has more than three decades of commercial real estate brokerage and development experience, and extensive expertise in the area of transportation and logistics management. In between positions at NelsonHill and Cushman & Wakefield, Hayes gained invaluable experience at Ridge Property Trust, an industrial development and ownership firm. Hayes focuses his business primarily in the city and in-fill markets in Cook County. A significant segment of the focus in this geographic area is the “last-mile” facility to accommodate users’ immediate fulfillment requirements.
- Frank Melchert joins Cawley with over 12 years of commercial real estate experience. He started with Grubb & Ellis’ Industrial Services Group in 2006 and then in 2012, he joined start-up company NelsonHill, LLC to help build their brand. Working with Fortune 500 Companies and local entrepreneurs alike, Frank has completed numerous real estate transactions, ranging from site selection and evaluation, to lease and sale negotiation.
- Stevan Arandjelovic joins Cawley Chicago working with Frank Melchert in the Chicago market. He brings an expertise in real estate analysis, real estate finance, and real estate investment to the team. Prior to joining Cawley Chicago, Stevan began his commercial real estate career in 2014 at NelsonHill.
This article can also be found at: REjournals; Commercial Property Executive; Connect Chicago; CoStar; Bisnow