CHICAGO—Bob's Discount Furniture has just signed a lease for Heartland Corporate Center II, a new 751,966-square-foot speculative facility at 21215 SW Frontage Rd. in suburban Shorewood. This transaction, which closed in December, was the third-largest new lease transaction in the I-80 / Joliet Corridor last year, and the fourth-largest in the entire metropolitan Chicago area, according to Colliers International.
Matthew J. Stauber, a principal with Colliers' industrial advisory group, represented landlord Clarion Partners, LLC and Trevor Ragsdale with JLL represented Bob's Discount.
The lease marks Manchester, CT-based company's first Midwest distribution center, joining two others on the East Coast. The low-price furniture and bedding retailer has 54 showrooms in 11 states in the Northeast and mid-Atlantic regions. The company expects occupy its new facility in the fourth quarter of 2015.
“The I-80 / Joliet Corridor is really beginning to thrive again,” says Stauber. “Vacancy has now gone below 10% for the first time in 10 years, and construction activity – both spec and build-to-suit – is picking up.”
Heartland Corporate Center is a 156-acre business park near the convergence of I-55 and I-80. This new building was completed on December 31, 2014 and is the park's second. Clarion's first building is a 1,000,058-square-foot structure that Stauber leased to Jacobson Companies and Wilton Industries. Clarion plans to complete a third speculative building totaling 320,000-square-feet by this year's fourth quarter.
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