BEDFORD PARK, IL-Toyota Tsusho America Inc. has signed a 208,000-sf lease with Ridge Property Trust, becoming the first tenant at Bedford Park Corporate Center III. Toyota Tsusho America will relocate from Bolingbrook to the recently constructed 470,160-sf manufacturing and distribution building at 5445 W. 73rd St., part of a one-million-sf industrial project built by the private REIT that includes Prudential Real Estate Investors.
Although terms were not disclosed, asking lease rates at the property are $4.75 per sf. In addition to having space for distribution operations, Toyota Tsusho America will assemble car parts there. In addition to rail service and a Cook County Class 6(b) property tax break, the building offers 32-foot clear ceilings and 48 loading docks.
Lee & Associates of Illinois principal Jeffrey J. Janda represented Toyota Tsusho America in negotiations with CB Richard Ellis senior vice president George Maragos and senior associate Scott Duerkop.
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