CHICAGO—Heitman Capital Management took a bit of a risk earlier this year when it purchased two empty warehouses recently developed by Dermody Properties on 47^th St. in suburban McCook, IL. But that risk now looks like a good bet. Assemblers, Inc. has just signed a long-term lease for the 353,322-square-foot building at 8601 W. 47^th St. According to Cook County records, Heitman paid $59.5 million in April for that and the adjacent 312,227-square-foot structure.

Geoffrey Kasselman, executive managing director and head of Newmark Grubb Knight Frank's national industrial practice, handled lease negotiations while also providing multi-market site selection for Assemblers, along with financial analyses, decision matrices, business case modeling, tenant improvements coordination, and architect and general contractor selection. Heitman was represented by Jason West, of Cushman & Wakefield.

“While each user has markedly different businesses and space utilization dynamics, they all benefit from proximity and access to I-55,” says Kasselman. “The I-55 Corridor provides for superior access to their respective customers, vendors and suppliers, and also serves their labor needs; plus there is still an ample supply of modern, high-quality spaces for such discerning users. It further underscores the inherent strengths of this submarket.”