Newmark announced the firm has completed 178,477 square feet of industrial and office leasing activity on behalf of Associated, spanning two properties–6450 Muirfield Drive in Hanover Park, Illinois, and 4101 Winfield Road in Warrenville, Illinois. Newmark Senior Managing Director Corey Chase served as the exclusive representative on behalf of the tenant, Associated, for both lease transactions.
Founded in 1960, Associated celebrates more than 60 years of providing customers with innovative solutions that optimize storage and order fulfillment operations within its supply chain. Associated has earned a reputation as one of the top providers of cutting edge engineering, fleet management and labor optimization services to compliment industry leading material handling equipment sales, service, rentals and parts. Previously headquartered at 133 Swift Road in Addison, Illinois, a breakdown of the tenant’s lease transactions includes:
- Signing a long-term lease to occupy the entirety of 6450 Muirfield, which totals 160,419 square feet of industrial space, inclusive of 10,000 square feet of office. In signing this lease, Associated marks the establishment of a new operations facility along with doubling its footprint within the Chicagoland market. 6450 Muirfield will house its robust warehouse operation as well as material handling equipment sales, service, parts and rental functions.
- Signing a partial-third floor, move-in ready office sublease at 4101 Winfield Road, which totals 18,058 square feet. Given the composition of their former headquarters in Addison, which included over 30,000 square feet of office space, paired with the fact that 6450 Muirfield features only 10,000 square feet of office–Chase strategically identified a favorable opportunity within the sublease market to accommodate Associated’s requirement for its corporate office.
Brian Colson and Brian Pomorski of Avison Young served as the landlord representatives for the lease transaction at 6450 Muirfield Drive, while Josh Feldman of Cushman & Wakefield represented the sublandlord in the sublease transaction at 4101 Winfield Road.