CHICAGO-Two food distributors have inked leases totaling 186,936 square feet in the Chicago Industrial Park on the southwest side of town.
The two leases with Preferred Freezer and Harvest Foods for refrigerated warehouse space at 4220 South Kildare bring the 1980s-era building to full occupancy, according to Steven Livaditis, a first vice president with CB Richard Ellis’s local office. Along with John Suerth, Livaditis negotiated both leases, representing the local owner, 4220 Kildare LLC.
Preferred Freezer signed a one-year lease for 51,394 square feet and will use the space for food products that don’t fit in its additional user-owner freezer facility nearby. The space had been vacant for just under a month, Livaditis tells GlobeSt.com. The former occupancy, Cloverhill Bakery, recently relocated to another facility on Cicero Avenue.
Meanwhile, Harvest Foods committed to 135,542 square feet for five years. The deal is both a renewal and expansion by about 45,000 square feet of space formerly occupied by Cloverhill Bakery. The company, which has been a tenant in the building for four years, uses the facility to operate it pre-packed food business.
“Preferred Freezer and Harvest Foods took over the Cloverhill space very quickly after it was vacated,” Livaditis says. “Both transactions reflect the ongoing demand from food users in Chicago. The food sector continues to absorb space in the industrial market, compared to manufacturing and distribution sectors where demand has decreased. It is definitely the front runner.”
The facility that houses Preferred Freezer and Harvest Foods is one of two-building complex. The entire property, which was renovated in 1987 and again three years ago, offers a total of 560,000square feet of refrigerated warehouse space. It is currently 80% leased.
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