Avison Young has negotiated a 58,760-square-foot industrial lease in Chicago’s O’Hare submarket on behalf of Toshiba Machine Co., America. Avison Young principal Chris Lydon, SIOR, who is based in the company’s Rosemont, Illinois office and is a member of the firm’s industrial practice group, represented the tenant.
“Exceptional access to shipping and transportation, coupled with a strong labor pool and robust fundamentals, makes the O’Hare submarket one of the premier industrial markets in the country,” Lydon said. “This location allowed Toshiba to meet its requirement for a high-image, functional facility in proximity to the company’s existing facility located in the same submarket.”
The building, at 695 Touhy Avenue in Elk Grove Village, Illinois, will be used as a supplemental facility, complementing Toshiba’s existing U.S. headquarters facility located at 755 Greenleaf Avenue, also in Elk Grove Village. The new location will house research and development and distribution operations for Toshiba’s plastic-injection and machine-tools machinery division.
Lydon joined Avison Young earlier in 2018, bringing more than 25 years of industry experience to the firm’s industrial practice group in Chicago. During his career, he has represented industrial clients operating on local and national platforms working on behalf of property owners with leasing and property disposition requirements. Lydon is a member of the Society of Industrial and Office Realtors (SIOR) and the Chicago chapter of the Association of Industrial Real Estate Brokers (AIRE).