Molto Launching Another Suburban Spec

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.