Durable Packaging International had subleases on 156,000-sf,83,000-sf, 57,000-sf and 40,000-sf spaces, explains ColliersBennett & Kahnweiler Inc. vice president Lawrence J.Meldman.
"Durable did not want to have all of these subleases out thereending at different times. It was complicated," Meldman adds in astatement. "We had to have patience in negotiating with thedifferent landlords. When the 750 Northgate building becameavailable, it made sense due to its great location, high cubewarehouse, larger production area, office space and parking."
A $10-million mortgage from Cole Taylor Bank also helped swingthe deal, according to property records.
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