(To read more on the net lease market, click here.)

CHICAGO-Insite Real Estate Development has landed a 97,800-sf lease with Daley International, which will relocate from another Southwest Side location to 4100 W. 76th St. The 877,000-sf industrial property changed hands a year ago for $6.5 million, according to documents on file with the Cook County Recorder of Deeds office.

Moving from smaller quarters at 2515 W. 35th St. allows the maker of cleaning products to land bigger contracts, says Epic/Savage Realty Partners' Jeffrey Locascio, who represented Daley International in negotiations with Insite Real Estate Development's Dan Fogarty. Daley International's cleaning supplies are used in supermarkets, hospitals and food processing plants.

Daley International's decision to relocate comes a few months following its late 2005 sale of its three-story 45,700-sf building at 35th Street and Maplewood Avenue to a local limited liability corporation for $3 million, according to documents on file with the Cook County Recorder of Deeds office.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.