NOT FOR REPRINT
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
An error occurred while fetching the data.
Error details: Error: INTERNAL_ERROR for efcbb55f-bb9c-8a8a-6642-a0915295c4cd: {"response":{"errors":[{"message":"INTERNAL_ERROR for efcbb55f-bb9c-8a8a-6642-a0915295c4cd","locations":[{"line":93,"column":7}],"path":["youmightlike"],"extensions":{"classification":"INTERNAL_ERROR"}}],"data":{"articleData":{"uri":"/2009/02/24/preferred-freezer-grabs-175000-sf-bts/","canonicalUrl":"https://www.globest.com/2009/02/24/preferred-freezer-grabs-175000-sf-bts/","generatedId":"fmj45kflmk","naturalId":"blogAndPostId/blog/post/296-72897","recombeeId":"296-72897","type":"ARTICLE","postFormat":null,"kickerPresentedBy":{"label":"","value":""},"breadcrumb":[],"presentedBy":"","title":"Preferred Freezer Grabs 175,000-SF BTS","readtime":"3","timeToRead":"3 minute","prettyModified":"","prettyDateTime":"February 24, 2009 at 02:19 PM","needToKnow":[],"byline":"Cari Brokamp","nofollow":false,"showDisclaimer":true,"authors":[{"name":"Cari Brokamp","description":"","imageLarge":"https://secure.gravatar.com/avatar/f16d6fc2845f417ea0e93a3f2b6cd37d?s=136&d=mm&r=g","webUrl":"/author/profile/cari-brokamp/"}],"publication":"Globe Street","kicker":"","kickerNode":[],"prettyDate":"February 24, 2009","pubDate":"2009-02-24 14:19:00:000","modifiedDate":"","isDownload":"false","primaryCategory":{"channelName":"","sectionName":"","name":"","uri":"","slug":"","channelUri":""},"tags":[],"image":{"uri":"","width":"","height":"","alt":""},"embed1":"","embed2":"","summary":"CHICAGO-The public refrigerated warehouse company signed a 25-year lease for the $38 million warehouse being developed by KTR Capital Partners.","categories":[],"allCategories":[{"sectionName":"Chicago","channelName":"GlobeSt Market"},{"sectionName":"Development","channelName":"Globest Topics"},{"sectionName":"","channelName":"GlobeSt Market"},{"sectionName":"","channelName":"Globest Sectors"},{"sectionName":"","channelName":"Globest Topics"},{"sectionName":"Industrial","channelName":"Globest Sectors"},{"sectionName":"Leasing","channelName":"Globest Topics"},{"sectionName":"National","channelName":"GlobeSt Market"}],"bodyArray":["<p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Newark, NJ-based Preferred Freezer will expand to this new facility as its 24th location in North America, while maintaining its current space at the nearby 2500 S. Damen Ave. KTR was represented in the lease by Lawrence Much, Stephen Connolly and Irv Malik, all with NAI Hiffman's Industrial Services Group.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">\"We approached Preferred Freezer as a good candidate because we understood their building in the area was pretty full so we contacted them and asked if they were interested in expanding and they were,\" Much tells GlobeSt.com. \"There's nothing like this in the US of this ceiling height and LEED certified with all robots operating inside. There are a lot of components that have never been done before, so we're kind of in uncharted territory and that's exciting for sure.\"</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">The development is being planned to achieve LEED Platinum certification and become the first industrial building in the city of Chicago to achieve the distinction. It will offer 57-foot clear ceilings, robot picking technology, 30 trailer spots and 18 truck docks.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Ground was broken late last year on the building, and it is expected to deliver to Preferred Freezer by September. Much and Connolly declined to release Preferred Freezer's lease rate, but said when the building was being marketed on spec, the space was offered for $7.25 per square foot net.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">The property is in an area of limited available land on the southside of Chicago, close to Interstate 55 in the Crawford Industrial Park, which houses around 100 other buildings.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">\"There's been little to no build to suits and very little new construction in this area in the city of Chicago in years,\" Much says. \"This site offers proximity to their existing facility and high visibility on Interstate 55. They were also attracted to the landlord's ability to perform the build-to-suit and fund it.\"</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">KTR purchased the property at 4500 West Ann Lurie Place, which also offers a 310,000-square-foot distribution facility formerly occupied by Dominick's, in December 2007 for $14.5 million, Much says. Dominick's former building has been updated with TPO roofing, T5 lighting and new docks, and is currently vacant, with asking lease rates of $4.95 per square foot net. Preferred Freezer's new warehouse will be developed on nearly 10 acres adjacent to the existing building.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">The project was designed by Ware Malcomb Architects and is being built by Keeley Construction, and is expected to bring 20 jobs to the city.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">\"It's hard to get deals done now, but this was a team effort between the architect, the client and the developer,\" Connolly tells GlobeSt.com. \"You get a lot of companies that drag their feet in a slow market but this really came together as well as it could have.\"</p>"],"slides":[],"video":null},"youmightlike":null,"readnext":{"contents":[{"uri":"/2025/07/10/florida-ends-tax-on-commercial-rent-bringing-relief-to-tenants/","title":"Florida Ends Tax on Commercial Rent, Bringing Relief to Tenants","byline":"Anthony Russo","summary":"The removal of the tax will increase the state's competitive advantage and lure more folks to Florida. ","prettyDate":"July 10, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/2f/09/e07355b545bea551e6091b646509/kingsley-jonathan-620x372-1.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Region","sectionName":"Southeast","slug":"southeast-region-globest-markets","channelUri":"region"},{"channelName":"Globest Sectors","sectionName":"Office","slug":"office","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Retail","slug":"retail","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/10/multifamily-delinquencies-climb-amid-worsening-cre-loan-performance/","title":"Multifamily Delinquencies Climb Amid Worsening CRE Loan Performance","byline":"Erik Sherman","summary":"Growth slows, delinquencies rise, and multifamily losses hit a peak.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/04/Delinquent-Loan-Article-202304060805.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/11/top-10-cre-funds-stockpile-billions-as-market-wonders-whats-next/","title":"Top 10 CRE Funds Stockpile Billions as Market Wonders What’s Next","byline":"Erik Sherman","summary":"The funds remain unused as they await the right opportunity.","prettyDate":"July 11, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/ec/07/e42f1dd84c54b5f0c4804ce6fdad/dry-powder.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/11/multifamilys-rising-loan-maturities-create-new-buying-opportunities/","title":"Multifamily's Rising Loan Maturities Create New Buying Opportunities","byline":"Erik Sherman","summary":"Distressed sales loom amid high debt and low coverage ratios.","prettyDate":"July 11, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/3d/26/2b933d304f09aae46772f0115fa0/buying-opportunity.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/10/disagreement-grows-among-fed-officials-on-rate-cut-timing/","title":"Disagreement Grows Among Fed Officials on Rate Cut Timing","byline":"Erika Morphy","summary":"The tariff debate is disrupting the Fed’s policy playbook.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/b1/0e/89779ab049e2a63ea4ff1d0fb5e9/fed-resize-jpeg.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Globest Topics","sectionName":"Economy","slug":"economy","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]}]},"events":{"events":[{"eventTitle":"GlobeSt. ELITE Women of Influence (WOI) 2025","venueName":"","cleCredit":"no","description":"GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.","registrationURL":"","docUri":"/data-sources/events/GlobeSt.ELITEWomenofInfluence(WOI)2025:2024-09-03-04:00:33.xml","eventEndDate":"July 22, 2025","eventStartDate":"July 21, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Denver","learnMoreLinkFile":"https://www.event.globest.com/WomenOfInfluence","imageUri":"https://assets.swoogo.com/uploads/full/4358074-66d72c273ea79.png","imageUri2":"https://assets.swoogo.com/uploads/full/4358079-66d72c46e3ce4.png","practiceArea":["Diversity","Leadership & Management","Women of Influence"]},{"eventTitle":"GlobeSt. Multifamily Fall 2025","venueName":"","cleCredit":"no","description":"Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!","registrationURL":"","docUri":"/data-sources/events/GlobeSt.MultifamilyFall2025:2025-04-10-04:00:43.xml","eventEndDate":"October 15, 2025","eventStartDate":"October 15, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Los Angeles","learnMoreLinkFile":"https://www.event.globest.com/multifamily-fall","imageUri":"","imageUri2":"","practiceArea":["Multifamily"]}],"searchParams":{"estimate":2}}},"extensions":{"DateTime":"2025-07-13T01:04:48.442800538","ResponseTime":"?","AuthorizedUser":false,"AlmContext":"AlmContext{clientIP='10.0.253.253', internalIP='true', origin='', authorizedUser='false', Chinchilla, userAccount='null', UCID=null, ipAccount='null', olyEncId='null'}","NavServiceResponse":{"message":"No Content","action":"show-404","data":"","placResultsPublic":null},"DebuggingData":null,"UsedCache":"true","DataUrl":"http://ml2.alm.com:9216/bff-services/content/get-you-may-like-for-content.xqy?naturalId=/amp/2009/02/24/preferred-freezer-grabs-175000-sf-bts&site=www.globest.com&total="},"status":200,"headers":{}},"request":{"query":"\n####\n####\n# QUERY\n# ROUTE:/amp/2009/02/24/preferred-freezer-grabs-175000-sf-bts\n####\n\n\nquery Globest__view_article_amp{articleData:\n getContent(naturalId: \"/2009/02/24/preferred-freezer-grabs-175000-sf-bts\", site:\"globest.com\") {\n uri\n canonicalUrl\n generatedId\n naturalId\n recombeeId\n type\n postFormat\n kickerPresentedBy {\n \t\t label\n \t\t value\n \t\t}\n breadcrumb{\n name\n \t\turi\n }\n presentedBy\n title\n readtime\n timeToRead\n prettyModified\n prettyDateTime\n needToKnow\n byline\n nofollow\n showDisclaimer\n authors {\n name\n description\n imageLarge\n webUrl\n }\n publication\n kicker\n kickerNode {\n name\n slug\n uri\n sectionName\n }\n prettyDate\n prettyDateTime\n pubDate\n modifiedDate\n isDownload\n primaryCategory {\n channelName\n sectionName\n name\n uri\n slug\n channelUri\n }\n tags\n image {\n uri\n width\n height\n alt\n }\n embed1\n embed2\n summary\n categories {\n name\n uri\n channelName\n }\n allCategories {\n sectionName\n channelName\n } \n bodyArray\n slides {\n title\n image\n caption\n height\n width\n }\n video\n\n }\n youmightlike:\n getYouMayLikeForContent(naturalId: \"/amp/2009/02/24/preferred-freezer-grabs-175000-sf-bts\", site:\"globest.com\") {\n uri\n title\n byline\n prettyDate\n readtime\n image {\n uri\n width\n height\n }\n summary\n }\n readnext:\n getStatsList(site:\"globest.com\", topic: \"\", limit: 5, timeframe: \"3days\" ) {\n contents {\n uri\n title\n byline\n summary\n prettyDate\n kicker\n image {\n uri\n width\n height\n }\n breadcrumb{\n name\n \t\turi\n }\n primaryCategory {\n name\n uri\n channelName\n channelUri\n }\n allCategories{\n channelName\n sectionName\n slug\n channelUri\n }\n breadcrumb {\n name\n uri\n }\n }\n\n }\n events:\n getFutureEvents(\n publication: \"GlobeSt\"\n pageSize: 10\n page: 1\n ) {\n events {\n eventTitle\n venueName\n cleCredit\n description\n registrationURL\n docUri\n eventEndDate\n eventStartDate\n industry\n audience\n city\n learnMoreLinkFile\n imageUri\n imageUri2\n practiceArea\n }\n searchParams {\n estimate\n }\n }\n }"}}
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.