CHICAGO—Industrial submarkets around the metro area continue to tighten, and properties in DuPage and Kane counties have fared particularly well. Transwestern recently brokered six industrial transactions totaling 225,750 square feet in Chicago's western suburbs. The deals include four leases and two sales and range in size from 26,000 to 58,000 square feet.
“The Chicago-area industrial market is exceptionally tight right now for small- and mid-sized users requiring anywhere from 20,000 to 200,000 square feet,” says Transwestern senior director Joe Karmin. “Spaces come available from time to time, but due to heightened competition, occupiers must act quickly when they find a building that meets the day-to-day needs of their business.”
The lease transactions just completed by the company include the following properties:
- Century Tile leased 58,000 square feet at 280 Madsen Dr. in Bloomingdale. Transwestern's Justin Lerner and Karmin represented the tenant.
- Yingliu Casting leased 37,750 square feet at 901 N. DuPage Ave. in Lombard. Karmin and Lerner represented the owner, Venture One Real Estate.
- Swanson Flo-Systems leased 28,000 square feet at 775 Belden Ave. in Addison. Karmin and Lerner represented the enant.
- Leggett & Platt subleased 26,000 square feet at 501 Airport Rd. in North Aurora. Transwestern's Michael Marconi, along with Karmin and Lerner represented the sublessor, GreenSeed Contract Packaging.
Transwestern also brokered the following sale transactions:
- Packsmart Inc. acquired 1000 Atlantic Dr. in West Chicago. Marconi and Karmin represented the buyer and a private seller of the 40,000-square-foot property.
- A private investor acquired 707 Kautz Rd. in St. Charles. Marconi represented the buyer in the purchase of the 36,000-square-foot facility.
Transwestern reported in its first-quarter 2016 market analysis that vacancy in west suburban submarkets decreased to 4.9%, a drop of 22 bps since the previous quarter. At the same time, 3.96 million square feet of new construction in those submarkets was announced.
CHICAGO—Industrial submarkets around the metro area continue to tighten, and properties in DuPage and Kane counties have fared particularly well. Transwestern recently brokered six industrial transactions totaling 225,750 square feet in Chicago's western suburbs. The deals include four leases and two sales and range in size from 26,000 to 58,000 square feet.
“The Chicago-area industrial market is exceptionally tight right now for small- and mid-sized users requiring anywhere from 20,000 to 200,000 square feet,” says Transwestern senior director Joe Karmin. “Spaces come available from time to time, but due to heightened competition, occupiers must act quickly when they find a building that meets the day-to-day needs of their business.”
The lease transactions just completed by the company include the following properties:
- Century Tile leased 58,000 square feet at 280 Madsen Dr. in Bloomingdale. Transwestern's Justin Lerner and Karmin represented the tenant.
- Yingliu Casting leased 37,750 square feet at 901 N. DuPage Ave. in Lombard. Karmin and Lerner represented the owner, Venture One Real Estate.
- Swanson Flo-Systems leased 28,000 square feet at 775 Belden Ave. in Addison. Karmin and Lerner represented the enant.
- Leggett & Platt subleased 26,000 square feet at 501 Airport Rd. in North Aurora. Transwestern's Michael Marconi, along with Karmin and Lerner represented the sublessor, GreenSeed Contract Packaging.
Transwestern also brokered the following sale transactions:
- Packsmart Inc. acquired 1000 Atlantic Dr. in West Chicago. Marconi and Karmin represented the buyer and a private seller of the 40,000-square-foot property.
- A private investor acquired 707 Kautz Rd. in St. Charles. Marconi represented the buyer in the purchase of the 36,000-square-foot facility.
Transwestern reported in its first-quarter 2016 market analysis that vacancy in west suburban submarkets decreased to 4.9%, a drop of 22 bps since the previous quarter. At the same time, 3.96 million square feet of new construction in those submarkets was announced.
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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.
