Industrial N Illinois Weld-Cote leases 48,487 SF in Niles Cushman & Wakefield represented tenant Weld-Cote as well as owner Molto Properties in a 48,487-square-foot, long-term lease at Molto’s 7720 N. Lehigh Avenue development in Niles, Illinois. Cushman & Wakefield executive directors Brett Kroner and Keith Puritz, managing director Eric Fischer and director Steve Stone were the sole brokers in the transaction.
Industrial N Illinois Where Chicago is headed: A Q&A with Colliers’ Jim Carris Industry veteran Jim Carris recently joined Colliers International as executive managing director and market leader for the firm’s operations in Chicago. Carris brings to his new role over 25 years of experience in all sectors of commercial real estate, making him a prime candidate to probe for answers about the state of the Chicago economy, and where he sees the variety of real estate opportunities headed.
Industrial N Illinois Colliers Chicago arranges sale of suburban industrial portfolio Colliers International I Chicago’s Jeff Devine and Steve Disse represented DCT Industrial in its sale of a three building, 486,062-square-foot industrial portfolio in the Chicagoland area to Cabot Properties, which was seeking quality assets for its comingled fund. Sale price was not disclosed.
Industrial W Minnesota Opus to build 86,000-square-foot spec industrial building in St. Paul The Opus Group will build an 86,000-square-foot speculative industrial building at the St. Paul Port Authority’s Beacon Bluff Business Center in St. Paul, Minnesota. Construction is slated to begin in June, and the building is expected to be completed in the end of 2018.
Industrial N Illinois PREMIER Design + Build completes cold storage space for “imperfect” produce PREMIER Design + Build Group LLC has completed a 25,465-square-foot buildout in Northlake, Illinois for San Francisco-based Imperfect Produce, a web-based home delivery service for “ugly” fruits and vegetables. The company packages and delivers high quality produce with cosmetic flaws that prevent them from sale at grocery stores, thus reducing food waste.
Industrial N Illinois Industrial Outdoor Ventures secures $65M loan Industrial Outdoor Ventures (IOV) has entered into a $65 million secured revolving credit agreement with a syndicate of banks led by CIBC. The credit facility allows IOV to expand its existing holdings to $100 million plus in assets, which the company expects to achieve over the next six months.
Industrial N Illinois New 316k SF spec industrial building coming to Chicago Conor Commercial Real Estate broke ground in April on their newest project, Last Mile Logistics Center I-55. A groundbreaking ceremony took place this week at the project site, located at the intersection of 51st Street and St. Louis Avenue in Chicago.
Industrial P Kansas Colliers closes big industrial sale in Kansas Colliers International represented the seller in a 119,920-square-foot industrial transaction in Lenexa, Kansas.
Industrial N Illinois Brown Commercial completes 40k+ SF of industrial transactions Brown Commercial Group, based in Elk Grove Village, Illinois, completed two leases and one sale totaling 40,366 square feet in Chicago’s western suburbs. All three transactions represented expansions for their respective companies.
Industrial N Illinois Timber Hill completes $2.8M renovation of Stickney industrial property Chicago-based Timber Hill Group, a private equity firm specializing in the acquisition and development of logistics related industrial real estate, has completed a six-month, $2.8 million redevelopment of a cross-dock and maintenance facility located at 5000 W. 39th Street in Stickney, Illinois. Simultaneously, Delta Logistics, Inc., which signed a full facility lease earlier this year, has relocated to the modernized property.
Industrial N Illinois The largest spec warehouse in over a century builds on Chicago’s history Chicago is a city renowned for its architectural heritage. This includes storied office towers like the Wrigley Building and Willis Tower, as well as modern multifamily masterpieces like 860-880 Lake Shore Drive and Marina City. Even retail gets its due with the hulking Merchandise Mart that owned many superlatives in its day.
Industrial N Illinois 4th Annual Industrial Development Day Join Chicago Industrial Properties and RE Journals on July 20th for the 4th Annual Industrial Development Day.
Industrial N Illinois Lee & Associates of Illinois negotiates lease in Central Kane submarket Lee & Associates has closed a lease transaction for a 75,539-square-foot industrial suite located at 1701 W. Hawthorne Lane in West Chicago, Illinois. Michael J. Androwich Jr., principal, and Nick Eboli, senior vice president, of Lee & Associates’ Illinois office, represented the tenant, MAPEI Corporation, an international manufacturer of adhesives, sealants and other chemical products for the building industry.
Industrial N Illinois Darwin Realty sells two industrial properties in DuPage County Elmhurst, Illinois-based Darwin Realty has sold two industrial properties in DuPage County. The two properties combined for over 51,000 square feet and sold for around $3,000,000 total.
Industrial N Illinois Duke Realty begins construction on 183k SF bulk warehouse in Central DuPage The Chicago office of Duke Realty Corporation has begun construction of a 183,296-square-foot bulk warehouse in Glendale Heights, Illinois in the Central DuPage submarket. The building, which is being developed on a speculative basis, is located at the center of the Chicago metropolitan area at 990 North Avenue (Route 64) just minutes from I-355.
Industrial N Illinois United Business Mail increases space in O’Hare submarket by 148% Minneapolis-based United Business Mail (UBM) has signed a 203,000-square-foot full facility lease at 801 Bryn Mawr Avenue in Itasca, Illinois—more than a 148 percent increase in space for the largest independent provider of standard commingle services in the United States. Colliers International I Chicago’s Steve Kohn represented the company in the transaction.
Industrial N Illinois CRE siting software expands into industrial for the Chicago market Truss, an award-winning platform for commercial real estate, will expand its AI-enabled technology to industrial real estate, being the first to show price transparency. Truss will launch industrial real estate space in Chicago and Dallas with more than 45 million square feet of industrial space, bringing Truss’ square footage to 200 million.
Industrial Midwest Avison Young: Investors sinking dollars in single-user industrial Industrial space is high on the wish list of investors today. And industrial space that is fully leased to one user? That’s especially popular.
Industrial N Illinois NAI Hiffman represents tenant in consolidation and relocation to Central DuPage NAI Hiffman has represented tenant CPGIO Direct in a sublease for a 103,465-square-foot space at 1150 N. Swift Road in Addison, Illinois. CPGIO has expanded its real estate footprint as successful business growth has steadily continued. This expansion is a relocation from Bensenville, Illinois where they occupied two facilities.
Industrial N Illinois Construction begins on Bridge Point Downers Grove Bridge Development Partners, in partnership with Banner Oak Capital Partners and Cushman & Wakefield, has begun construction on Bridge Point Downers Grove, a speculative distribution development at the intersection of Interstates 88 and 355 that will include three buildings totaling 678,858 square feet.