David Bercu, principal with Colliers International’s Chicago-based Industrial Advisory Group, represented Channel Distribution Corporation in the long-term lease of a new 284,356-square-foot distribution campus in Bensenville.
The third-party logistics provider will be leasing the adjacent Prologis-owned buildings at 950-990 Supreme Drive (201,011 square feet) and 659-699 Supreme Drive (83,345 square feet), which feature a large trailer storage yard in the middle.
Channel Distribution Corporation is currently occupying two facilities totaling approximately 232,000 square feet in Itasca and Bensenville. The larger of the two – a 165,000-square-foot property at 925 W. Thorndale Ave. in Itasca – has been Channel’s home for more than 20 years. The company expects to occupy its new facility on Supreme Drive by May 2014.
“We are currently operating at maximum capacity in our two facilities and needed room to grow,” said Alan Muir, vice president of Channel Distribution. “We have enjoyed a very successful relationship with Colliers and David Bercu for more than 25 years and asked him to advise us once again on a consolidation.
“With our business model focused on handling international import and export cargo for both ocean and air freight, we needed to be centrally located to our customers in the O’Hare commercial zone. The new campus will accomplish this while also giving us greater efficiencies associated with combined operations,” he added.
The transaction is the largest new lease of an existing property in the O’Hare market in the past six months. CBRE’s Kevin Segerson and Matt Mulvihill represented owner Prologis.