WEDNESDAY, JUNE 24, 2009

Grubb & Ellis facilitates 195,071-square-foot lease in Franklin Park

by Illinois Real Estate Journal Reports
Chicago-> West Cook

O'Hare East Business Center's North Building

Grubb & Ellis Co. has represented KTR Capital Partners in the lease of O'Hare East Business Center's North Building to R&M Trucking, one of the Midwest's top freight forwarding companies.

R&M Trucking will relocate its freight forwarding operations from 600 Thomas Drive in Bensenville into the 195,071-square-foot facility located at 3720 River Road in Franklin Park. The company is also consolidating its trailer parking, which had been located at several off-site locations.

Matthew Mulvihill, senior vice president, Industrial Group, facilitated the transaction on behalf of KTR Capital Partners. Thomas Barbera of Interstate Realty Inc. represented R&M trucking.

"This transaction illustrates the tremendous potential of the eastern O'Hare submarket given its proximity to major interstates and its easy access to the O'Hare International Airport's new south cargo entrance," said Mulvihill. "This is the first sign of significant warehouse/distribution activity for the market in some time, as this is the largest transportation lease transaction in 24 months."

O'Hare East Business Center was developed by KTR Capital Partners and consists of two buildings totaling 394,294 square feet. The development features one of the highest dock counts in the O'Hare submarket. O'Hare East Business Center's South Building, a 199,223-square-foot logistics facility, is still available for lease.

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