Mitch Adams and Steve Livaditis, both with CB Richard Ellis, represented First Industrial in the lease transactions. Vadeal Plastics USA LLC has signed a lease for 100,240 sf in the building. Adams and Livaditis represented Vadeal Plastics in the lease transaction.
The Bedford Park building is a new location for Chicago-based Vadeal, which is expanding due to a new facility in Europe, says Adams, an FVP with CBRE. Vadeal chose the Bedford Park location because of its proximity to an existing sales office in McCook, IL and the workforce in the Bedford Park area, Adams says. The company had acquired a building in Bridgeview, IL about a year and a half ago but sold it after deciding it would rather lease space in the new building, he says.
An unnamed dry food packaging company has also signed a lease for 72,956 sf in the building, Adams says. The asking lease rate for the building had been $4.95 per sf, net.
Holly Hunt Enterprises, a Chicago-based furniture and distribution company that was leasing space in three facilities in Chicago, is consolidating into the rest of the space in Bedford Park, Adams says. Vern Schultz and Mike Senner, both with Colliers Bennett & Kahnweiler Inc., represented Holly Hunt in the lease transaction. The company chose the location because of the "good visibility off of Cicero Avenue" and the proximity to public transportation.
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