Transwestern represented Chicago Truck Parking in a 47-acre ground lease at 12300 New Ave. in unincorporated Lemont, Illinois.
Chicago Truck Parking, an operator of parking lots for tractor-trailers and other commercial vehicles, leased the site from Annapolis, Maryland-based Realterm Logistics. Vice president Terri Alexander, a member of the national Transwestern Intermodal Logistics Team, represented the tenant in the eight-year lease.
Located in the I-55 industrial corridor, the property is close to nearby warehouses and just two miles from the four-way interchange at I-355 and 127th Street. The site also offers rail access.
“Realterm bought the site earlier this year and understood the severe shortage of parking for truck drivers, which made this lease possible,” said Alexander. “Locally, two other factors are fueling demand: a push to locate truck parking outside of municipalities and a need for parking near shipper and receiver locations, particularly in distribution hubs like Chicago.”
The new parking lot will allow Chicago Truck Parking to consolidate multiple yards into a single location. The company, which leases spaces to trucking companies and individual owner-operators, plans to add lighting, fencing, electronic gates, security systems and an entrance pavilion on the west end of the site.