(To read more on the net lease market, click here.)
SKOKIE, IL-NanoInk has stepped up to be the anchor tenant at Illinois Science + Technology Park, a $300-million redevelopment of the former Pfizer complex here. The developer of the Dip Pen Nanolithography manufacturing process has signed a 21,000-sf lease with Forest City Enterprises Inc. at 4901 W. Searle Pkwy.
With the current 670,000 sf expected to be expanded to more than two million sf of laboratory, office and conference space, NanoInk is not likely to be in the market for relocation options for many years, says president and chief executive officer Dr. Cedric Loiret-Bernal. Meanwhile, the space offers 24-hour security as well as quality, he adds.
Village officials offered Forest City Enterprises, which bought the property from the pharmaceutical company for $43 million, a $10-million tax increment financing package. "This is very exciting news," says Mayor George Van Dusen.
Scott Brandwein of CB Richard Ellis handled negotiations for Cleveland-based Forest City Enterprises as well as NanoInk. He and Anthony Ware are shopping space blocks ranging from 4,000 sf to 206,000 sf, most of it in space to be built.
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