CHICAGO—Lowenbaum REP, a Chicago-based firm, recently completed leases for two industrial clients in the Elgin area totaling more than 100,000-square-feet. The first, Echelon Design Inc., took a 50,193-square-foot lease at 41 Prairie Parkway, in suburban Gilberts, just north of Elgin. The trade show provider will nearly double in size when they move from their current 28,000-square-feet of space at 2590 Alft Street Lane in July.
Their new home at Prairie Business Park, a 203,000-square-foot, nearly complete warehouse property, was developed by Interstate Partners, LLC at the southwest corner of Higgins and Tyrrell Roads. When complete, the 40-acre park will feature four to five large industrial buildings and room for future development.
Echelon will use 5,300-square-feet as office space and 10,000-square-feet for a workshop. They will use the remainder of the space as warehouse storage.
Lowenbaum also represented Hendrick Metal Products in a recent 53,000-square-foot lease at 1320 Gateway Drive in Elgin. Hendrick had been located nearby in 73,000-square-feet at 2555 Decade Court in Elgin since its acquisition of Hagan Metal in 2007, but found the modern space on Gateway a better fit.
“Like many of our clients today, Hendrick was looking for more efficient space,” says Lowenbaum REP's principal Ed Lowenbaum. “This was a perfect fit and a very good deal as both buildings had recently traded hands.”
Lowenbaum and Jason Talanian represented both tenants in the transactions while Steve Bass with Lee & Associates represented Interstate Partners, LLC and Exeter Property Group, the landlords, respectively, of 41 Prairie Parkway and 1320 Gateway Drive.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
