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USPS Leases 138,000-SF Warehouse at O'Hare

CHICAGO-The Postal Service has signed a long-term lease to fully occupy the building at 513 Express Center Drive, which it had been leasing month-to-month.

By Cari Brokamp | Updated on November 06, 2008

CHICAGO-The United States Postal Service has signed a long-term lease to fully occupy a 138,000-square-foot warehouse at O’Hare International Airport. The USPS has been leasing the building, at 513 Express Center Dr., on a month-by-month basis since October 2007, when it initially took the space as a holiday overflow center. The building is owned by KTR Capital, which has a lease for the land from the city of Chicago through 2055. The company bought the building from BAX Global Inc. in August 2007 for $20 million.

Matthew Mulvihill and Brian Carroll, SVPs in the Industrial Group, represented KTR Capital in the lease. “The USPS has a property across the street that they use to service the airport with mail that comes in via air cargo,” Mulvihill tells GlobeSt.com. “Since it’s adjacent to their other facility (at 514 Express Center Dr.), it creates functionality in their operation.” With the most recent expansion, USPS now occupies more than 300,000 sf in the O’Hare Express Center, in which tenants have direct access to the airfield without use of public roads. The building is at the southeast corner of the airport, near the northwest corner of Mannheim and Higgins roads.

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