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Uline Signs 258,395-SF Deal With CenterPoint

NORTH CHICAGO, IL-The REIT finds a tenant for more than half its building at 30120 Skokie Hwy., part of a $96-million portfolio acquisition earlier this year from HSA Commercial Real Estate.

By Mark Ruda | Updated on August 11, 2005

NORTH CHICAGO, IL-CenterPoint Properties Trust has found a tenant for 258,395 sf at its North Chicago Business Park, a 394,070-sf building it acquired earlier this year. Packing materials distributor Uline is leasing most the of newly constructed property at 30120 Skokie Hwy. for a box depot.

The building was part of the REIT’s $96-million portfolio acquisition earlier this year from HSA Commercial Real Estate, which brokered the lease deal. “While it is unusual for a firm to both lease space and negotiate on behalf of a potential tenant, it enabled HSA to create a win-win situation for all involved,” says HSA Commercial Real Estate vice chairman and chief executive officer Bob Smietana. Executive vice president and managing director Tim Thompson and senior vice president Doug Reed were involved in the negotiations.

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