(To read more on the net lease market, click here.)
BOLINGBROOK, IL-Comac, a fulfillment company and subsidiary of Iron Mountain, has expanded its lease at 555 Remington Blvd. to 106,267 sf in a five-year renewal. The company now has half of the 10-year-old distribution building owned by Rreef.
Comac is expanding its lease with RREEF as vacancy in the northern end of the I-55 corridor has bumped up to 8.5% in the first quarter, according to Delta Associates. That compares with 6.9% at the end of 2005, which was more than two percentage points higher than the previous year.
Although terms were not disclosed, the asking price for the remaining 106,066 sf is $3.50 per sf. CB Richard Ellis' Dave Prioletti and Traci Buckingham represented Rreef in negotiations with Chris Porter of Cushman & Wakefield. Comac has been located in the one-story building, near the I-55 interchange at Route 53, since 1997.
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