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ITASCA, IL-Kester, a global supplier for the electronic assembly markets, is relocating from 515 E. Touhy Ave. in Des Plaines, to 63,800 sf at 800 W. Thorndale in this city northwest of Chicago. Kester signed a 10-year lease for the entire light manufacturing facility.
Dave Prioletti, a broker at CB Richard Ellis, represented Kester Inc. in the transaction. Dave Bercu of Colliers, Bennett and Kahnweiler Inc. negotiated on behalf of the landlord, Cabot. Consideration was close to $3.5 million. Prioletti explains that Kester opted for a long lease with options. "They are right sizing," he tells GlobeSt.com. "They are going from 137,000 sf to the new space of 63,800 sf."
"This move allows Kester to streamline its cost of operations while preserving skilled engineering and management labor force," says Prioletti. He tells GlobeSt.com that it was important for Kester to keep its engineer and executive staffs intact. "Most of its manufacturing has been moved offshore to markets like Asia and Mexico."
At the new location, the firm has good access to expressways and is still close to O'Hare Airport. "They are also making the move out of Cook County to more efficient real estate taxes," Prioletti says. The property was built in 1975, but has been improved throughout the years. It is a one-story light manufacturing building situated on a 5.65-acre site. It includes a 21-foot ceiling height, in addition to five interior and four exterior loading docks. Prioletti says that renovations to the building are currently under way. Kester expects to move into its new space this late this fall.
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