Swiss Company Moves Up to Less Expensive Space

Kuehne & Nagel has subleased its 82,270 sf in Bensenville to Aeroground, an air cargo firm, in a $1.7-million deal. Cushman & Wakefield senior director Jim Estus represented Switzerland-based Kuehne & Nagel in both deals. Senior directors Britt Casey and Brendan Kelly, along with client services coordinator Linda Biedron, represented Lend Lease, owner of 400 N. Busse Rd.

Estus says the deals allowed Kuehne & Nagel to move into less expensive space, which also was improved by the property owner to its specifications.

Also near the airport, Waltham, MA-based packaging equipment supplier Rentacrate Inc. has leased 23,000 sf at 4310 Transworld in the O'Hare International Industrial Plaza in Schiller Park. Podolsky Northstar SVP Andy Jaffe and sales associate Evan Nadler represented Rentacrate Inc. while SVP Tom Callahan and principal owners Steven Podolsky represented owners of O'Hare International Industrial Plaza.

CenterPoint Properties Trust COO Michael M. Mullen notes in a recent earnings conference call that deals have been signed for as long as 10 years in the 1.2-million-sf O'Hare submarket, where vacancy is 8.5%.