First Logistics Takes 331,059 SF in Spec Development
The deal, which closed at the end of 2018, was the largest industrial lease of the year.
CHICAGO–First Logistics is set to occupy 331,059 square feet of the newly completed Marina Crossings. The lease deal, which closed at the end of 2018, was the largest industrial lease of the year. Details of the deal were not disclosed.
“First Logistics chose the location based on its ability to service their contract with the local plant of a global manufacturer,” said Larry Goldwasser, managing director at Cushman & Wakefield. “Marina Crossings provides tenants with an ideal real estate solution based on its access to Chicago’s labor pool and vast population of customers.”
First Logistics currently occupies 750,000 square feet across two buildings in Alsip, according to Cushman & Wakefield.
Construction on the 633,057-square-foot industrial facility in Alsip, IL completed in the fourth quarter. Its size makes Marina Crossings the largest speculative industrial building to be constructed in the city since 1905. The facility includes 32-foot ceilings, cross docking, precast construction as well as car and trailer parking. GlobeSt.com first covered the project in May 2018.
Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire with Cushman & Wakefield represented the landlord, while Larry Hanley of Midwest Commercial Real Estate represented First Logistics.