Jones Lang LaSalle’s Chicago industrial team has completed three lease transactions totaling more than 225,000 square feet in Chicago’s western suburbs.
In the largest of the three deals, Jones Lang LaSalle’s Dominic Carbonari and Frank Griffin leased 106,731 square feet of space at 1575 Hunter Road in Hanover Park to CoreCentric Solutions. The team represented the building’s owner, Cabot Properties Inc. Approximately 69,500 square feet remain available for lease in the 288,000-square-foot building.
Additionally, Carbonari and Griffin also represented Cabot in the lease of 51,500 square feet in a 101,640-square-foot building to Cary Co. The building is located at 1005 W. Republic Drive in the Addison Industrial Park in Addison. An additional 50,140 square feet within the building remain available for lease.
Finally, Carbonari, Griffin and Jones Lang LaSalle’s Keith Stauber leased a 67,932-square-foot industrial building at 888 N. Central Ave. in Wood Dale to St. George Warehouse Co. The team represented the building’s owner, ML Realty Partners, in the transaction.
Carbonari, a Jones Lang LaSalle executive vice president, said the three deals reflect the overall trend of increased industrial leasing velocity in the western suburbs over the past 12 to 18 months.
“We’ve definitely seen a heightening demand from smaller and mid-sized users in the 50,000- to 100,000-square foot range,” he said. “Third-party logistics firms are driving part of the demand, and much of the rest is coming from independent manufacturers and other small businesses who are able to expand now that commercial lending has returned to some degree.”
