Shipping firm extends, expands space in Northlake

August 11, 2009

Northlake-based Champion Logistics Group extended leases at two buildings in the west suburb, expanding one of the locations and bringing its total to just under 400,000 square feet. Champion Group, which provides transportation for trade show exhibits and store displays, now leases 161,747 square feet at 100 W. Whitehall Drive, an increase of 18,576 square feet, according to Dan Leahy, an executive vice-president and partner at Oakbrook Terrace-based NAI Hiffman who represented the landlord, Australia-based Mirvac Industrial Trust. Champion also extended its lease for the 238,064-square-foot building at 200 Champion Way, which includes the company’s offices. Each lease was extended about four years, according to Mr. Leahy, who also represented 200 Champion Way’s owner, Boston-based TA Associates Realty. Northbrook-based Korman/Lederer & Associates LLC represented Champion.

Source: Chicago Real Estate Daily

Posted by NAI Hiffman | Filed Under General Business

CHICAGO INDUSTRIAL UPDATE

August 9, 2009

South Cook County “South Cook is very stagnant; new construction has halted,” says Ben Cremer, a vice president with NAI Hiffman. “There is some leasing activity, but most of it is lateral moves — companies looking for cost savings or consolidation. [The market] is experiencing the same thing it has for the last 15 years, which is that companies are looking to exit South Cook and move to the nearby Will [County] or northwest Indiana markets.

“I think the market is going to remain pretty much as it is, which is stagnant, through the end of the year,” Cremer adds. “In general, the South Cook area is one of the last to increase in activity and development when the times are good, and it is one of the first to decrease in activity when things start going bad.”

Source: Heartland Real Estate Business

Posted by NAI Hiffman | Filed Under General Business, Industrial

Gold Eagle Signs On for 170,000 SF

August 3, 2009

By Cari Brokamp

CHICAGO-Gold Eagle has signed a ten-year lease for 170,000 square feet at 4404 West Ann Lurie Place. The manufacturer and marketer of engine additives took more than half of the 311,000-square-foot former Dominick’s Finer Foods distribution facility in the lease, which was valued at more than $6 million. Updated with TPO roofing, T5 lighting, new docks, ESFR sprinklers, and energy-efficient heating systems, the building is owned by KTR Capital Partners, who acquired it in December 2007 for $14.5 million.

Gold Eagle sought modern space with multiple docks near its headquarters at 4400 South Kildare Blvd. The company’s new property is six miles from downtown Chicago, offering frontage along and proximity to Interstate 55, as well as 72 loading docks. Asking lease rates at the property are around $4.95 per square foot net, and NAI Hiffman continues to market the remaining space in the building, which features 30 exterior docks. read more of the article here

Posted by NAI Hiffman | Filed Under General Business