Jones Lang LaSalle Represents Navistar in 860,000 SF Industrial Lease

October 18, 2010 | Staff Writer | Print Article | Email this Article

Jones Lang LaSalle has announced that Navistar, Inc. will move its Midwest parts-distribution operations from West Chicago to an 860,100-square-foot industrial building in Joliet’s Cherry Hill Business Park.

Kris Bjorson and Dan McGillicuddy of Jones Lang LaSalle represented Navistar in the transaction while Trevor Ragsdale and Kelly Gray of Jones Lang LaSalle represented the park’s owners and developers, Schiller Park-based Northern Builders, Inc.

Under the terms of the 13-year lease — one of the largest industrial real estate transactions in the Midwest this year — Navistar will occupy the park’s Building #6, which Northern Builders will expand from 522,500 to 860,100 square feet. Navistar’s current Midwest distribution facility in West Chicago totals approximately 566,000 square feet in two adjacent buildings.

The 630-acre Cherry Hill Business Park is located approximately two miles west of the interchange between Interstate-80 and Interstate-355 in Will County. With the addition of Navistar, the park will now include 11 tenants occupying a total of nearly 5 million square feet of space.

This is the eighth regional distribution center lease that Jones Lang LaSalle has negotiated for Navistar as it continues to modernize their North American distribution network.

Sean Spellman, vice president of Northern Builders, said that Navistar’s long-term commitment to Cherry Hill Business Park further solidifies its reputation as one of the top locations for logistics operations in the I-80 Corridor.

Tags | Chicago, industrial, Jones Lang LaSalle, lease, Navistar, Northern Builders

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