IDI a Buyer, Lessor in Deal With Allegheny

SKOKIE, IL-Besides leasing 152,320 sf to Allegheny Technologies at its Carol Stream Corporate Center, IDI has acquired two buildings here from the New Bedford, MA for $2.7 million. The buildings at 4901 W. Main St. and 4820 Searle Pkwy. total 128,000 sf.

The building at 725 Center in the western suburb of Carol Stream is 100% as a result of the deal, according to IDI. However, the Atlanta-based developer is looking for office or light industrial tenants for its recently acquired properties in this near north suburb. The metal slitting company and 75 employees move to DuPage County early next year.

While lease terms are not disclosed, industrial space near IDI’s 59-acre business park under development is available in the $4.50 per sf to $4.75 per sf range, which would make the rental portion of the deal worth about $700,000 a year.

Bill Suits of Jones Lang LaSalle represented Allegheny in the lease deal while Pat McCourt and Mike Sedjo of CB Richard Ellis represented IDI.