Industrial N Illinois

Newmark Knight Frank industrial team completes five transactions in Illinois

Newmark Knight Frank industrial team completes five transactions in Illinois,ph1
720 Northgate Parkway in Wheeling, Illinois.

Newmark Knight Frank (NKF) announced that senior managing director Elise Couston, SIOR and associate Jimena Sayavedra have completed three industrial lease transactions and two acquisitions on behalf of clients in the Chicago metropolitan area and Bloomington, Illinois.

“Q4 2019 was a busy end of the year for a very active industrial market, with demand exceeding supply in many of the submarkets around the metro-Chicago area,” stated Couston.

In the first transaction, Couston and Sayavedra represented Contec in a 90,000-square-foot building lease at 2402 E. Empire in Bloomington, Illinois. This is an expansion for the technology service provider and the firm’s first location in Illinois. Building ownership was represented by Binswanger.

Couston and Sayavedra also completed a 41,790-square-foot industrial lease at 720 Northgate Parkway in Wheeling, Illinois on behalf of Goodman Manufacturing. Couston and Sayavedra were hired to find a space to accommodate the firm’s growing operations. Goodman Manufacturing was previously located at another industrial facility in Northbrook. Goodman Manufacturing is the world’s largest manufacturer of heating, ventilation and air conditioning products and systems and the new building will serve as warehouse, distribution and showroom space.

Sayavedra and Couston also led two acquisitions including the purchase of a 13,000-square-foot building located at 13727 Chatham Street in Blue Island, Illinois by Beauty Loft. The acquisition is an expansion of the natural-based beauty product company’s warehouse/distribution operations. NAI Hiffman represented the seller in the transaction.

The NKF industrial team also represented Pedra Surfaces is the acquisition of a 13,225-square-foot building located at 4350 W. Division in Chicago. Pedra specializes in wood floor and marble counters for commercial and residential construction and is both relocating and expanding to Chicago from Wisconsin. The seller was represented by JLL.

In the final transaction, Sayavedra and Couston represented MTZ Trucking. The trucking and logistics firm leased approximately four acres at 3600 S. Homan in Chicago for expansion of their business operations. Ownership was represented by JLL.