Divane was represented by EVP Rodger Chenore, VP Jeffrey Girling, and senior associate Terence Lynch of Paine/Wetzel ONCOR International, while the building owner was represented by Cook Financial. Divane serves the transportation, aviation, general construction and communication industries. The firm was drawn to its new space based on its location in Chicago and within proximity to downtown and expressways, namely Interstate 290 which is less than a mile away.
The park is located in the south Chicago submarket, where the occupancy rate include sublease space is around 90%, according to Grubb & Ellis' mid-year industrial market report. Average asking lease rates are around $4 per square foot in the submarket, Grubb's research says.
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