John F. Cash, EVP, and David Haigh, associate, both with NAI Hiffman's Industrial Services Group, represented building owners Mirvac and CenterPoint Properties in the lease. Dan Benassi with Entre Commercial Realty LLC, represented the tenant.
"This new location will enable Arens Controls to operate more efficiently under one roof and provide them better access to O'Hare and area transportation," said Cash. "The renewal was also essential to make this transaction possible." The northwest suburban facility offers a 14,000-sf office build-out, four truck docks and 80 parking spaces.
The occupancy rate in the northwest submarket is around 91%, according to a second quarter Grubb & Ellis market report. Lease rates in the submarket range from $5 to $9 per sf.
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