MailTech will use the suite for new production space for the firm's direct mail fulfillment, bindery, and printing operations. A 17,500-sf office component will include offices, conference facilities and employee amenities as well as a data processing area for MailTech's data transfer and management functions. The remaining portion of the facility will be devoted to the firm's printing and fulfillment operations.
McShane Corp.'s construction affiliate, McShane Construction Corp., and project architect, Harris Architects Inc., will complete the tenant improvements for a June 2005 occupancy. Erik Wagner, Grubb & Ellis/Pacific Realty Group, along with Larry Johnson and Todd Benson, CB Richard Ellis, represented MailTech, Ltd. in the seven-year lease transaction. John F. Cash and Stephen J. Connolly of NAI Hiffman, exclusive marketing agents for the property, represented the McShane/MetLife alliance.
This lease represents the second of two leases recently signed at the facility. In March, Chicago-based Wertheimer Box & Paper Corp., a manufacturer of corrugated and fiber boxes, packaging supplies and mailers and display boxes, leased 108,600 sf for its new headquarters operation at the facility.
The 303,192-sf McCook Industrial Center is a multi-tenant industrial facility located at 7950 Joliet Rd. along the Interstate 55 Corridor. With two leases signed totaling 234,000 sf, the facility is nearing full occupancy.
The I-55 Corridor has again become a hotbed for industrial activity. As development reaches out beyond Bolingbrook and Romeoville, sites closer to the City of Chicago have become increasingly rare. For that reason, McShane Corp. vice president Tony Pricco says rents have inched up to $4.50 and $5 per sf.
"There are so many developers looking for this kind of opportunity," Pricco tells GlobeSt.com. "Trying to find another site in this area is difficult. There are some smaller sites, but they usually have environmental issues. For that reason, there's almost no competition and that means rents will most likely increase."
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