Duke Realty Corporation leases 190,000 square feet of industrial space in Chicago-area business park
Duke Realty Corporation has acquired 335 W. Crossroads in the Chicago suburb of Bolingbrook, a 288,000-square-foot industrial building, and has leased 190,080 square feet in the building to RTC Industries.
The Class-A industrial property, which is located in the Crossroads Business Park where Duke Realty already owns 3.3 million square feet of industrial space in 10 fully leased buildings, increases Duke Realty’s industrial holdings in the Interstate-55 corridor, Chicago’s second largest industrial market, and boosts its overall Chicago-area portfolio to more than 10.6 million square feet.
The acquisition also allows Duke Realty to meet the expanded space needs of RTC, a designer of retail marketing displays that also leases Duke’s 503,200-square-foot Crossroads V building.
“RTC has been an excellent tenant with solid growth since becoming a Duke Realty tenant,” said Steve Schnur, senior vice president of Duke Realty’s Chicago operations. “The acquisition of 335 W. Crossroads allows us to provide RTC with the additional space it needs and complements our strategy of increasing our investment in quality industrial buildings in strong distribution markets.”
335 W. Crossroads is a Class-A modern bulk distribution facility with 30-foot clear height and 40-foot-by-48-foot bays. The building also features 31 exterior docks and three drive-in doors, along with a 140-foot truck court and parking for 150 cars.
Jeff Kapcheck with Colliers International represented the seller of 335 W. Crossroads Parkway. Bill Frain, Todd Lippmann and Jim Whalen with CBRE represented RTC Industries in its lease.
Following RTC’s lease, 97,920 square feet of space remain available for lease in 335 W. Crossroads.
© 2013 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 firstname.lastname@example.org