CHICAGO-P + R, a digital and photographic imaging services business, is leasing 63,890 sf at CenterPoint Business Center at 4201 W. Victoria St. The term of the lease is 15 years. The 129,613-sf building is owned by CenterPoint Properties, based in Oak Brook.
Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham, all with CB Richard Ellis, represented CenterPoint in the lease transaction. Teri Gaca, with Space Markets Group, represented P + R Group.
The space will include 12,000 sf of office space and warehouse space. P + R had been occupying approximately 75,000 sf in a multi-story building in Chicago. This space is on one level so it will be more efficient for them, Puritz says. CenterPoint acquired the property in 2006 from Beltone for approximately $4.8 million in a partial sale-leaseback, sources say. Beltone is currently the only other tenant in the building, says Puritz. The asking lease for the building is $6.50 per sf net, he says.
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