(To read more on the industrial market, click here.)
BOLINGBROOK, IL-International Airport Centers has paid $39 million for two buildings in the Remington Lakes industrial park here. Blackrock Realty Advisors sold the buildings, totaling 685,000 sf, at 800 and 850 Veterans Pkwy.
The deals also include more than 50 acres. The deal was brokered by Trammell Crow & Co. senior vice presidents Kenneth Szady and Jim Carpenter.
Vacancy in the northern end of the Interstate 55 Corridor is 7.7% including sublease space, according to Delta Associates. That is half the rate in the southern end of the submarket, where 933,000 sf of new construction is occurring.
Recent lease deals nearby include Modular Installations & Design Inc. taking 16,900 sf at the 352,700-sf Crossings Business Center at 380-86 Internationale Dr. in the Corporate Crossings Business Park. It is the first lease at the building, developed by HSA Commercial Real Estate and ML Realty Partners.
In an unrelated sale in the I-55 Corridor, Draine Chicago Group of Westlake Village, CA sold a 62,456-sf building at 7630 S. Madison St. in Willowbrook. A private investor bought the building, which is leased to national truck parts distributor Fleet Pride. Larry Johnson of CB Richard Ellis represesnted Draine Chicago Group in negotiations with NAI Hiffman vice president Stephen J. Connelly.
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