Industrial Midwest

Lee & Associates completes built-to-suit industrial lease

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.

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.”