Dennis Croke and Joe Flynn of NAI Hunneman Commercial's South Suburban Team represented the tenant in this transaction, while the Conrad Group represented Southeastern Industrial Trust. Croke tells GlobeSt.com that the Hilson Group took the space, which represents an expansion for the company, because of its growth. He notes that the industrial market in this area has remained stable with availability for 10,000 sf to 30,000 sf industrial spaces still limited.
According to Spaulding & Slye Colliers' most recent statistics, the average asking rent for industrial space in the area is approximately $6 per sf. The availability rate for the area for industrial space is about 18%, compared with the availability rate for office space in the area which is about 26%.
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