CHICAGO—Darwin Realty & Development has just completed three long-term lease transactions within the 1 million-square-foot DCT Business Center Elgin, each between 30,000 square feet and 50,000 square feet, and company officials say it's another sign of the local industrial market's recovery.
“We're finally seeing some of the medium-sized spaces get leased,” Noel S. Liston, a principal of Darwin, tells GlobeSt.com, primarily by mid-sized companies or the local satellites of national firms. In the early days of the recovery, big companies were the first to start expanding. But the recovery has now gathered enough strength that smaller firms feel comfortable making plans for growth.
Wisdom Adhesives, for example, just signed a long-term lease for 39,131 square feet at 350 River Ridge Rd. And Printpack, Inc. renewed its lease and expanded into a total of 49,134 square feet at 300 Corporate Dr. Finally, CentiMark Corp. signed a long-term lease of 34,449 square feet at 200 Corporate Dr.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
