Industrial N Illinois

Cushman & Wakefield secures 2018’s largest industrial lease in City of Chicago at Marina Crossings

Cushman & Wakefield secures 2018’s largest industrial lease in City of Chic,ph01

Cushman & Wakefield represented landlord Marina Crossings Owner, LLC, a joint venture between MAT Limited Partnership and institutional investors advised by J.P. Morgan Asset Management, in securing its first tenant at 2075 W. 43rd Street. First Logistics, an Illinois-based 3PL, will expand from their current facility in Alsip, Illinois to immediately occupy 331,059 square feet of the largest speculative industrial building in the city of Chicago’s since 1905.

Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire of Cushman & Wakefield represented the landlord in lease negotiations. Larry Hanley of Midwest Commercial Real Estate represented the tenant. The Marina Crossings development was completed in Q4 2018 and is 633,057 square feet in total size.

“Marina Crossings is an attractive option for tenants looking for immediate proximity to a tremendous labor force and state-of-the-art industrial amenities including 32-foot ceilings, cross-docking, precast construction and ample car and trailer parking,” said Goldwasser. “The 35-acre property is rail served and is just off the I-55 Stevenson Expressway, the area’s strongest-performing industrial submarket.

“First Logistics chose the location based on its ability to service their contract with the local plant of a global manufacturer,” Goldwasser continued. “Marina Crossings provides tenants with an ideal real estate solution based on its access to Chicago’s labor pool and vast population of customers. We look forward to bringing the building to full occupancy in 2019.”