"This transaction is a strong indication that the northernsuburban industrial market is seeing improvement despite highvacancies," says Dan Smolensky, part of a CB Richard Ellis teamrepresenting ACCO Brands that included Chris Reynolds, ScottBrandwein and Jim Whalen. "After we leased over 212,000 sf in thebuilding, we focused the marketing efforts on investors looking forleased or partially leased income properties and obtained offersimmediately."
CBRE most recently pegged industrial vacancy in northeast CookCounty at 8.8%. Meanwhile, vacancy was 9.6% in Lake County. Theproperty is less than two miles from the county line.
Tim Gallagher of Gallagher Realty handed negotiations for CabotProperties.
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