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ROMEOVILLE, IL-Sports Authority Inc. is expanding its lease at 1120-1140 Remington Blvd. from 250,000 sf to the entire 455,000-sf building. The term of the lease is 10.5 years with the lease extension valued at approximately $12.5 million.
The sporting goods retailer has used the building as its Midwest distribution center for about the past five years. Sports Authority went private in 2006 and currently has 415 stores in 45 states.
Mark Moran, executive vice president with NAI Hiffman, represented the sporting goods retailer in the lease transaction. James Campbell Co., based in Hawaii, is the owner of the property and was represented in the transaction by Traci Buckingham with CB Richard Ellis.
In order to free up space for the retailer to expand, James Campbell Co. terminated the lease of USC Solution which had been occupying approximately 200,000 sf, Moran says. Sports Authority is expanding because they are opening several new stores in the area, he says. The lease rate was not disclosed but the asking lease rate for the area is between $3.50 per sf and $3.95 per sf net.
Under the lease agreement, James Campbell Co. is constructing 39 additional docks in the building. The work will take a couple of months but Sports Authority is already occupying the entire building, Moran says.
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