CHICAGO—Electrolux, a Swedish-based global appliance manufacturer, recently signed a lease that expands their footprint in the Minooka Ridge Building 2 at 801 Midpoint Rd. in Minooka, IL, by another 365,000-square-feet. The manufacturer first moved into 495,454-square-feet of the regional distribution center in 2011 and now occupies the entire 965,183-square-feet. DTZ represented Electrolux in its previous leasing of the other 600,000-square-feet in the building.
This class A, single-story property sits within the Minooka Business Park about 44 miles southwest of Chicago, and was developed and constructed by the Opus Development Company, LLC, in 2008. It features 32' clear ceiling heights, 162 exterior loading docks, four drive-in docks and is adjacent to the I-80 Interstate Highway.
Electrolux was represented in negotiations by DTZ brokerage team members Chris Wood, executive vice president and managing director of the Chicago office; Senior Vice President Anthony Burns and Associate Vice President Jordan Decker. Opus, the landlord, was represented by James Estus, executive vice president of the Industrial Services Group at Colliers International, and by Mike Yungerman, vice president of real estate development at Opus.
Expansions like this have become quite common among industrial properties in the I-80 corridor. By the end of the second quarter, the submarket had seen 1,984,445-square-feet of total net absorption in 2013, the most of any submarket in the metropolitan area, according to a recent study by Jones Lang LaSalle. By comparison, the O'Hare submarket had 1,604,361-square-feet of total net absorption and the I-57 corridor had 1,088,743-square-feet.
“With strong absorption posted through the first half of 2013, the Chicago industrial market has rebounded from the recession and trends are on the upswing,” JLL says.
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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.
