Financial details were not disclosed. However, Grubb & Ellis recently pegged the average warehouse and distribution rental rate at $4.20 per sf, which would translate into a $30-million deal.
The 307-acre project, located along I-57 at Manhattan-Monee Road, owned by Location Finders International Inc. is eventually expected to have 5.5 million sf of warehouse, distribution, office and retail space.
Robert Duncan from CB Richard Ellis' El Paso office and Dave Prioletti from CB Richard Ellis' Oak Brook office represented TNT, the North American subsidiary of the Dutch logistics and express delivery company TPG NV. William Frain and Traci Enriquez of CB Richard Ellis' O'Hare office represented Location Finders International.
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