Ryan Companies bought the building in 2001 when it was 250,000 sf, then expanded it to its current size. The former tenant was SFS Distribution.
There are only three other 250,000-sf space blocks available in the Central DuPage County submarket, says Kirk Armour of CB Richard Ellis, who along with Mark Moran represented Ryan Cos. in negotiations with tenant representatives Steve Connolly and John Cash of NAI Hiffman. Armour notes vacancy in the submarket has tightened in the last year, from 15.9% at the beginning of 2003 to a current rate of 10.4%.
"Ryan Companies purchased this building and made a substantial investment in expanding and improving it because of our commitment to and belief in this segment of the Chicago industrial marketplace," says company vice president Tim Hennelly.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
