CHICAGO—The industrial vacancy rate in Central DuPage County has declined considerably in the past year, and even though it ticked up in the second quarter, it is showing signs that it may continue its long term decline. The Chicago office of Duke Realty, a nationwide REIT, has just signed a new lease with GELS Logistics, a global e-commerce logistics company, bringing its five-building Carol Stream Business Park to 100% occupancy. GELS will lease 154,275 square feet in Carol Stream III, a 304,624 square foot bulk warehouse located at 370 Kimberly Dr. in suburban Carol Stream.
“Our Carol Stream properties continue to be attractive to warehouse and distribution companies because of their central location and ability to serve the greater Chicago area,” says Ryan O'Leary, senior vice president of Duke's Chicago operations. “We are pleased to welcome GELS Logistics to Carol Stream III and to the benefits that Carol Stream Business Park offers logistics customers.”
Duke Realty's portfolio in Carol Stream Business Park is comprised of five buildings totaling 1.4 million square feet. The park is located 3.5 miles from I-355, just off Rte. 64 between Gary Ave. and Schmale Rd.
Jason West with Cushman & Wakefield represented GELS in the transaction, while Duke was represented by listing agent Brian Colson with NAI Hiffman and Susan Bergdoll with Duke.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
