Vernon Schultz, EVP, and Brent DeNoble, VP, both with Colliers Bennett & Kahnweiler's industrial services group, represented both Solideal and building developer Higgins Development Partners in the lease transaction. The tenant is consolidating locations in Harvey, IL; Rockford, IL and a location in Indiana, Schultz says. The new space in Joliet has 20 feet clear ceiling heights, 10 exterior depressed truck docks, eight trailer parking stalls and is crane equipped. Solideal chose the facility because of its proximity to Interstate 55 and Interstate 80, Schultz says.

The 645,817-sf warehouse facility was constructed in 1969 for Caterpillar. An ownership entity controlled by Higgins, based in Chicago, acquired the building last year and renovated the building including new docks, new parking and new trailer storage areas, Schultz says.

The building is currently about 50% occupied with the other tenant being M&E Distribution. The asking lease rate is $3.75 per sf net, Schultz says. The property has an extra 10 acres which could be used for parking and trailer storage or could, in the future, be developed with between 300,000 sf and 400,000 sf, he tells GlobeSt.com.