GE Picks Up 250,199-SF Circuit City Sublease

HANOVER PARK, IL-GE is picking up 250,199 sf here in a 13-year sublease deal, taking space vacated by Circuit City at 6300 Muirfield Dr. While the final price of the space was not disclosed, it had been marketed by Cushman & Wakefield’s Rosemont office for $3.45 per sf, which would have made the deal worth more than $11 million over the length of the sublease.

GE consolidates operations from outside the market as well as those at a former location at 1325 Pratt Ave. in Elk Grove Village, where industrial space is more expensive.

Cushman & Wakefield’s Brendan Kelly, Hugh Williams and Mike Fonda represented Richmond, VA-based Circuit City along with Paul Silver, a broker with Morton G. Thalhimer, located in the electronic retailer’s home town. The building, located in the Turnberry Lakes industrial park near the end of the Elgin-O’Hare Expressway, is owned by Richmond-based Industrial Developments, according to property records. Walt Zegers and Cathy Howland of Colliers Bennett & Kahnweiler represented GE, based in Fairfield, CT.