First Logistics Inks Major Expansion at Marina Crossings
The firm, which signed a lease for more than 331,000 square feet in January 2019, inked a lease expansion for 108,343 square feet at the recently completed development at 2075 W. 43rd St.
CHICAGO—First Logistics has signed an expansion lease deal totaling more than 108,000 square feet at the Marina Crossings development.
The firm, which signed a lease for more than 331,000 square feet in January 2019, inked a lease expansion for 108,343 square feet at the recently completed development at 2075 W. 43rd St.
First Logistics, an Illinois-based 3PL, now occupies 439,754 square feet of the 633,059-square-foot facility owned by Marina Crossings Owner, LLC, a joint venture between MAT Limited Partnership and institutional investors advised by J.P. Morgan Asset Management.
Completed in the fourth quarter of 2018, Marina Crossings is Chicago’s largest speculative industrial building since 1905. Currently, there is 193,058 square feet of space available for lease at the development.
Cushman & Wakefield’s Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire represented the landlord in lease negotiations. Larry Hanley of Midwest Commercial Real Estate represented First Logistics.
“First Logistics originally chose the location based on its ability to service their contract with the local plant of a global manufacturer,” says Goldwasser. “As they’ve experienced sustained growth over the past year, there was a need for expansion of operations, which we are excited to keep under one roof at Marina Crossings.”
Marina Crossings’ state-of-the-art industrial amenities include 32-foot ceilings, cross docking, precast construction and ample car and trailer parking. The 35-acre property is rail served and is located near the I-55 Stevenson Expressway.