W. P. Carey Secures Largest Industrial Lease in Chicago This Year
It is a full building lease totaling 1.6 million square feet.
W. P. Carey has secured the largest industrial lease in Chicago for 2024 – a full-building lease totaling 1.6 million square feet at 701 Central Ave. in University Park.
Cushman & Wakefield’s Sean Henrick and Ryan Klink represented W. P. Carey while Jason West, Lou D’Avanzo, and Adam Cooke represented the undisclosed tenant.
“This is one of the largest lease deals executed under one roof in the Midwest region in some time. It emphases the strength of the Chicago industrial market as a core distribution location,” Henrick said.
The REIT made investments into the building to transform an outdated portfolio asset into a facility that conforms to today’s market standards, while reducing the overall carbon footprint of the building