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DES PLAINES, IL-AMB Property Corp. expects to begin work March 1 on a 253,000-sf building at 255 Wille Rd. The building is being constructed for furniture distributor Coaster Co. of America, which is expected to move into the new building in the fourth quarter of this year, says Jim McGill, senior vice president and director of development for AMB.
The distribution building, to be called the AMB Wille Distribution Center, will be on 15.3 acres and will have 55 docks, 35 trailer stalls, four drive-in doors and 252 parking spaces. The project is being developed by a joint venture of AMB and the Missner Group, which is also the general contractor for the building. McGill would not give an estimate for the cost of the project.
Coaster has signed a lease for more than five years for the building. The lease rate is $6.30 per sf, McGill tells GlobeSt.com. There will be "market escalations" in the lease rate and there were no incentives.
Coaster is currently leasing 180,000 sf in a building constructed by AMB in Bensenville. Coaster is moving to Des Plaines because they needed a larger facility and wanted to move to another building developed by AMB, says Tim Cronin, a senior vice president with Lee & Associates. "We picked that facility because it met our growth and we have an existing relationship with AMB," he says. Cronin and Jeff Janda, a senior vice president with Lee & Associates, represented Coaster for the transaction.
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