Newmark Knight Frank (NKF) announced the 353,322-square-foot lease extension at 8601 W. 47th Street in McCook, Illinois. Executive managing director Geoffrey Kasselman, SIOR, LEED AP, arranged the proactive lease extension on behalf of Assemblers, Inc.
Founded in 1974, Assemblers is a private assembly and contract packaging company. The firm has occupied 8601 W. 47th Street since 2016, when it leased the space to serve as its third Chicago-area facility in support of its growing third-party food production business. The firm also has facilities in Chicago and Bedford Park.
Assemblers recently signed a long-term extension of its lease at the McCook property to fortify its control of the space in conjunction with additional tenant improvements, and to preemptively address anticipated future market conditions for such space. Kasselman led the negotiations with the landlord, Heitman Capital Management, on Assemblers’ behalf, while also assisting Assemblers with its financial analyses and decision matrices. Kasselman also represented Assemblers in its original lease of the property in 2016.
A modern, free-standing, pre-cast distribution facility on 17.83 acres, 8601 W. 47th Street was built in 2015 and features 32-foot clear ceilings, 50 x 50-foot column spacing, heavy power and an abundance of car and truck parking. It is situated within an Enterprise Zone and currently has “6B” real estate tax status with Cook County. Further, the property is located in a strategic infill location near I-55 and I-294, with easy access to UPS, USPS and FedEx facilities as well as local labor and downtown Chicago.
“This property continues to offer Assemblers a modern, state-of-the-art, food-grade facility with superior access to I-55 and Assemblers’ other area facilities,” said Kasselman. “Over time this facility will become one of the premier food-related facilities in the Chicagoland area, and will serve Assemblers’ needs for some time to come.”
