Avison Young negotiates 118,000-SF industrial lease extension and expansion February 27, 2020 Share on Facebook Share on Twitter Share on LinkedIn Share via email Avison Young negotiated a lease extension and expansion for MBX Systems within its headquarters facility located at 1200 Technology Way in Libertyville, Illinois. The high-tech hardware production and distribution company has leased 84,000 square feet at the building since 2012, and plans to build and lease an additional 34,000 square feet in the building, bringing its total space to 118,000 square feet. Avison Young principal, John Hauser, who is based in the company’s Rosemont, Illinois office, represented MBX Systems in the transaction in conjunction with Hugh Williams from MK Asset Brokerage. “The Lake County submarket continues to attract growing companies, and, with a low 4 percent vacancy rate, creates challenges for tenants looking to expand,” said Hauser. “We identified a unique opportunity for MBX Systems to retain its location and expand in order to meet operational needs.” Constructed in 1979, the property includes 15,000 square feet of office space, two interior docks and one drive-in door. The site includes 377 parking spaces and boasts low Lake County taxes. Hauser has an extensive history with the building, having represented tenants and owners in three previous transactions. Those transactions included two for Motorola as it occupied space and later sold the building. MBX handles complex system integration, manufacturing, logistics and support requirements for businesses. Its engineering, hardware, software and fulfillment departments will all have space to operate out of the newly expanded building. Midwest Industrial Funds will act as the design-build general contractor and the construction manager on the building addition, which will include the replacement of 200+ tons of air conditioning units to cool the production area. Completion is slated for April 2020.