Lee & Associates completes built-to-suit industrial lease
February 28, 2011 | Staff Writer | Print Article | Email this Article
Lee & Associates has completed a 10-year lease for a 48,300-square-foot build-to-suit industrial building located within the Fox River Business Center on Airport Road in Elgin. The value of the transaction is undisclosed.
John Cassidy and Ken Franzese, both principals, of Lee & Associates of 
Illinois, LLC represented the landlord, Northern Builders. The tenant, Bystronic, Inc., was represented by Jeff Janda and Jim Planey, both principals, and Mike Plumb, vice president, also with Lee & Associates. This will be the North American headquarters for Bystronic.
According to Plumb, the lack of available Class A industrial space in the I-90 corridor led to this build-to-suit property.
“This transaction marks a recent trend with machine tool manufacturers relocating to the Chicagoland area, and more specifically the I-90 Corridor,” said Plumb in a release. “In addition, an aggressive incentive package was offered by the municipality to bring new jobs to the Elgin area.”
Tags | Chicago, industrial, lease, Lee & Associates, Nortern Builders
© 2012 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or menzies@rejournals.com
