Lee & Associates, Colliers International and NAI Hiffman coordinated on consecutive sublease and long-term direct lease transactions for 275,898 square feet located at 6755 W. 65th Street in Bedford Park, Illinois.
Walter Murphy, principal at Lee & Associates’ Illinois office, represented the tenant, United Furniture Import & Export. Jim Estus of Colliers International represented the current tenant on the sublease while Larry Much and Steve Connelly of NAI Hiffman represented the owner in the long-term direct lease.
“This requirement was very challenging because Class A infill inventory with proximity to Chicago is tight and rents have been parabolic,” Murphy said. “This was a great opportunity for my client to achieve an aggressive rent by combining a short-term sublease with a long-term direct lease. Coordinating this combined term was the result of a tremendous team effort with Leggett & Platt and Principal Real Estate Investors.”