WEST CHICAGO, IL-After a three-year vacancy after it was built, KTR Capital Partners has found a tenant for this 150,000-square-foot warehouse at 525 Shingle Oak Dr. McCollister’s Transportation Group will lease the building in a consolidation move.
Located in the Crossroads of DuPage Business Park, this building was built by TCB Development on 16 acres in 2007. It has never been occupied. KTR recently purchased the building and found the tenant.
McCollister’s, based in Burlington, NJ, is consolidating four of the company’s Carol Stream facilities to this property. The company offers a range of storage, moving and logistics. The company is expected to finish the consolidation and move in by November.
Brian Kling with Colliers International, who represented the tenant with Jeffrey Kapcheck, said in a statement that McCollister’s will realize lower occupancy costs with this lease. A spokesman for the brokers did not return calls for comment.
The local DuPage County market has rental rate of about $4.10 per square foot, and a vacancy rate of more than 10.5%. Michael Fonda, Brendan Kelly and Hugh Williams with Avison Young represented KTR.
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