"The building is strategically located, providing excellent access to Interstate 55 and Chicago's other major interstates, as well as proximity to the area's premier product-distribution network," says Jeff Smith, vice president of leasing and development for IDI, who represented the company in the deal. Central Freight Lines was represented by Jack Cozzie of Grubb & Ellis in the lease, which was signed by Southwest Premier Properties on behalf of the carrier.
The property is located in the Interstate 55 submarket, where asking lease rates range from $4 to $6 per square foot, net, according to Cushman & Wakefield's year-end industrial market report. Average occupancy rates in the submarket are around 87%, the report says.
© 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.
