Prologis Lands 234K in Industrial Deals at O’Hare Market Properties
CBRE reports that the O’Hare industrial market remains one of the region’s tightest sectors, with a very low vacancy of 2.1%, well below the market average of 3.6%.
ELK GROVE VILLAGE, IL—Prologis, benefitting from intense tenant demand in the O’Hare market, has secured four lease transactions totaling approximately 234,000 square feet at its properties here.
The four industrial lease deals were reported by brokerage firm CBRE. The brokerage firm’s Kevin Segerson, Matt Mulvihill, Cal Payne and Philip DeBoer represented Prologis in all of the transactions.
Argents Air Express leased 80,000 square feet at 1300 Kirk St. NAI Hiffman represented the tenant. CTL Global leased 68,913 square feet at 1200 Thorndale Avenue. Cresa/Lowenbaum represented the tenant. Partner Logistics leased 58,585 square feet at 2791 Katherine Way. The tenant was represented by CBRE’s Segerson.
The fourth deal involved Pallet Services, Inc., which leased 26,592 square feet at 1109 Kirk St. JBS Commercial represented the tenant.
Strong tenant demand is driving activity in this suburban Chicago market. “Access to the airport and the central location of this market have become incredibly desirable,” says CBRE’s Segerson. “As shipping and logistics companies look to provide faster delivery times, activity in this market should remain very strong.”
CBRE reports that the O’Hare industrial market remains one of the region’s tightest sectors, with a very low vacancy of 2.1%, well below the market average of 3.6%.