CHICAGO—With demand for mid-size industrial facilities surging in DuPage County, Sitex Group has just acquired a 69,000 square foot warehouse/distribution facility located at 192-196 Exchange Blvd. in suburban Glendale Heights. The seller was a private ownership group.
At one time, Sub-Zero and Wolf leased the entire building but today the company occupies 16,000 square feet. The remaining space is currently vacant and can accommodate one user or be divided into two units of about 32,200 and 21,400 square feet each.
Sitex has been quite active in the submarket lately. As reported in GlobeSt.com, earlier this year it acquired an 87,219 square foot warehouse and distribution facility located at 350 S. Church St. in nearby Addison.
"The supply of available, attractive and functional warehouse properties in DuPage is low and the submarket is likely to get even tighter," says Sitex principal Cary Goldman. "192-196 Exchange is an eye-catching landmark entrance to this well located business park."
The building, part of the Glen Pointe Business Center, features 24' clear ceilings, 2,000 amp power service and parking for 140 cars. It stands less than three miles from the I-355 and Army Trail interchange thus providing convenient access to the interstate network of highways including I-290, I-294, I-88 and I-55.
Users have started to buzz around industrial buildings in the area. According to Colliers International, leasing volume in the third quarter reached 1.2 million square feet, a 21.8% increase over the second quarter total of about 946,000 square feet. "This increase is even more compelling when compared to one year ago, when 507,000 square feet of lease transactions were completed."
Goldman says that the company continues to pursue first and second generation precast buildings in strong infill submarkets with the goal of updating them to appeal to sophisticated users. Sitex plans to remodel the existing office space at 192 Exchange Blvd., install T-5 lighting, paint the exterior and upgrade the HVAC system.
"We're energized to add another well located, modern warehouse to our portfolio," he adds. "A lack of land sites in established industrial parks in DuPage County and significant replacement costs are key drivers of our existing building acquisition strategy."
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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.
