Two CORFAC firms have represented Johnstone Supply Inc. in a 10-year, 236,273-square-foot lease at 3500 Corporate Drive in Joliet. It is the first industrial property in Illinois to be occupied by Johnstone Supply.
Steven Tick, SIOR and a principal with Podolsky Northstar CORFAC International, based in the Chicago suburb of Riverwoods, completed the lease on behalf of Johnstone Supply in collaboration with the referring broker, Scott Madsen, SIOR and a principal with Portland-based Capacity Commercial Group/CORFAC International.
Johnstone Supply is a national wholesaler and distributor in the heating, ventilating, air conditioning and refrigeration industry. Johnstone Supply is a member-owned cooperative headquartered in Portland. The company has distributions facilities in Portland, Las Vegas, Memphis, Jacksonville, Fla., and Allentown, Penn. Capacity Commercial Group’s Madsen has negotiated lease transactions on behalf of Johnstone at each one of these locations.
“The new Joliet facility will relieve pressure on the Memphis distribution center and will offer same-day deliveries to Johnstone stores in Illinois, Wisconsin, Iowa, Missouri, Indiana and other neighboring states,” Madsen said.
In the states near its new Joliet facility, the company has 16 retail stores in Illinois, eight stores in Indiana, five stores in Iowa, six stores in Wisconsin, 11 stores in Missouri, 10 stores in Kentucky and 18 stores in Michigan.
The building is a Class A, 442,484-square-foot distribution facility that is owned by State Teachers Retirement System of Ohio. Johnstone’s lease includes 8,600 square feet of office space and a hazardous materials room. The building is cross-docked; however, 23 new additional truck docks are being built so Johnstone can use its portion of the facility as a single-loaded distribution center. Johnstone plans to take occupancy beginning on Jan. 1, 2013.
