CHICAGO—Spring has arrived and demand for industrial space is high, which means it's time for developers to finalize decisions on whether or not to launch new projects this year. Molto Properties, for example, has just unveiled plans for an 116,000 square-foot speculative industrial property 1055 Remington Blvd. in suburban Bolingbrook, and has already gotten a lease signed for half of the space.
Baldor Chicago Inc., represented by Dan Smolensky of the Modal group, will occupy 57,220 square feet. Jim Estus, a principal with Colliers International, represented Oakbrook Terrace, IL-based Molto in the transaction. Baldor officials say the new facility will allow the company to have more functional space, increase its visibility and provide ample parking for employees, visitors and customers.
“The pre-leasing activity is strong evidence of the strength of the I-55 Corridor,” said Todd Naccarato, founder and senior principal of Molto, in a prepared statement. He was unavailable for comment by press time.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
