CHICAGO—Cushman & Wakefield recently completed 22 transactions totaling 191,453 square feet of office and industrial space at the Yorkbrook Business Park in suburban Lombard on behalf of Venture One Real Estate. The completion of the new and renewal leases brings the 736,000 square foot, 18-building portfolio, which was acquired by Venture One in March 2016, to approximately 94% occupied.
Space is becoming scarce in the Northeast DuPage submarket. The vacancy rate has sunk to just 4.5%, the lowest of any in the region except Chicago North, according to a C&W report on the first quarter. In addition, there was 234,050 square feet of net absorption in the first three months of 2016.
“As industrial vacancy in the Northeast DuPage submarket declines, the Yorkbrook Business Park was a strategic and unique acquisition by Venture One to acquire a well located, high quality business park and offer a variety of industrial, flex and office spaces to tenants in a strong market,” says C&W senior director Sean Henrick.
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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.
