CHICAGO—Bob's Discount Furniture has just signed a lease for Heartland Corporate Center II, a new 751,966-square-foot speculative facility at 21215 SW Frontage Rd. in suburban Shorewood. This transaction, which closed in December, was the third-largest new lease transaction in the I-80 / Joliet Corridor last year, and the fourth-largest in the entire metropolitan Chicago area, according to Colliers International.
Matthew J. Stauber, a principal with Colliers' industrial advisory group, represented landlord Clarion Partners, LLC and Trevor Ragsdale with JLL represented Bob's Discount.
The lease marks Manchester, CT-based company's first Midwest distribution center, joining two others on the East Coast. The low-price furniture and bedding retailer has 54 showrooms in 11 states in the Northeast and mid-Atlantic regions. The company expects occupy its new facility in the fourth quarter of 2015.
“The I-80 / Joliet Corridor is really beginning to thrive again,” says Stauber. “Vacancy has now gone below 10% for the first time in 10 years, and construction activity – both spec and build-to-suit – is picking up.”
Heartland Corporate Center is a 156-acre business park near the convergence of I-55 and I-80. This new building was completed on December 31, 2014 and is the park's second. Clarion's first building is a 1,000,058-square-foot structure that Stauber leased to Jacobson Companies and Wilton Industries. Clarion plans to complete a third speculative building totaling 320,000-square-feet by this year's fourth quarter.
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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.
