The two-building, 318,034-sf Hanover Corporate Center is 84% leased with the Barnes Group deal. While terms were not disclosed, published asking net lease rates at Hanover Corporate Center are $4.75 per sf.
A three-man team from two firms represented IDI. In addition to Ken Franzese and John Cassidy of Lee & Associates, the property owner also was represented by Britt Casey of Cushman & Wakefield. Chris Porter of Cushman & Wakefield represented Barnes Group.
In addition to 50,000 sf in the two buildings, IDI has about 11 acres for light assembly, distribution and office development.
Formations Architects & Planners of Itasca designed Hanover Corporate Center I. Kajima Construction was general contractor for the project. Manhard Consulting of Vernon Hills was civil engineer.
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