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Factory Card & Party Outlet Mulling Move

NAPERVILLE, IL-Grubb & Ellis Co. is hired to explore alternatives more than two years in advance of a lease expiration at 2727 Diehl Rd., where it occupies a 440,343-sf office and warehouse building. The property is owned by CenterPoint Properties Trust's joint venture with Australia-based James Fielding US Industrial Trust.

By Mark Ruda | Updated on October 03, 2005

NAPERVILLE, IL-Although this western suburb has landed OfficeMax Inc.’s corporate headquarters, another locally-based company may be looking elsewhere. Factory Card & Party Outlet, which has a lease at a 440,343-sf office and warehouse building at 2727 Diehl Rd. through February 2008, is considering a move.

The party supply and greeting card company has hired Grubb & Ellis Co. to explore its options, which could include staying in its current location, part of the first phase of a $392.7-million portfolio sale by CenterPoint Properties Trust to a joint venture with Australia-based James Fielding US Industrial Trust. Grubb & Ellis senior vice presidents Jerry Bloomstrand, Jack Cozzie and Mark Stables, along with vice president Dominic Carbonari have the assignment to help Factory Card & Party Outlet weigh its alternatives.

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