Cushman & Wakefield has orchestrated a 154,000-square-foot lease for international logistics group GELS Logistics, Inc., also known as 360zebra, at 430 Kimberly Drive in Carol Stream.
This marks the seventh e-commerce-related transaction this year for the firm’s Chicago-based industrial team lead by Jason West.
360zebra is a global leader in providing full-service logistics services for the e-commerce industry. It offers solutions in integrated operations, fulfillments, order management, logistics warehousing and distribution, door-to-door express delivery, customs brokerage and e-commerce supply-chain consulting services.
West said that e-commerce activity will continue to ramp=up in the Chicago market over the next several years.
“E-retailers and the logistics companies that serve them are attracted by metro Chicago’s dense consumer population as well as its transportation infrastructure providing accessibility to key Midwest markets,” he said. “In the case of 360zebra, proximity to O’Hare International Airport was critical, as much of its business involves cross-border fulfillment.”
Carol Stream, located in Chicago’s Central DuPage submarket, is seeing progress in 2015, according to Cushman & Wakefield research. The overall vacancy rate in this submarket decreased by 0.5 percentage point year-over-year and measured 9.2 percent at the end of the second quarter. Direct net weighted average rents increased by 2.5 percent during this same period, currently measuring at $4.84 per square foot.
