NORTH CHICAGO-Uline Shipping Supplies has expanded its lease at 30120 Skokie Hwy., taking the rest of the 394,070-sf building it did not already occupy. The distribution company signed a 258,395-sf deal with CenterPoint Properties Trust in August with an option to take the rest of the building.
HSA Commercial Real Estate executive vice president and managing director Tim Thompson and senior vice president Doug Reed represented Uline Shipping Supplies in both deals. Most recently, they negotiated the lease expansion with Michael Murphy and Nick Sisto of the Oakbrook-based industrial REIT. Although terms were not disclosed, the space had been on the market at $4.50 per sf.
CenterPoint Properties Trust, one of the largest industrial property owners in the Chicago market, bought the North Chicago Business Park earlier this year as part of its $96-million portfolio acquisition from HSA Commercial Real Estate, which developed the property. North Chicago Business Park is one of the newer properties involved in the eight-building, three-million-sf portfolio.
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