Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the net lease market, click here.)

(To read more on the industrial market, click here.)

ALSIP, IL-Duro Bag has renewed a 154,000-sf lease with San Francisco-based AMB Properties for a warehouse at 12245 S. Central Ave. In addition to 15 truck docks, the property, which the REIT acquired in 1998 for $4.8 million, includes a 7.5-acre site.

Although terms were not disclosed, AMB Properties gets an average of $4.70 per sf across its Chicago portfolio, which includes 9.9 million sf in 101 properties. Occupancy in that portfolio is 92.2%, according to the REIT’s most recent financial report. Vacancy in the 24.4-million-sf southwest suburban industrial submarket was recently 10.4%, according to Delta Associates.

NAI Hiffman executive vice president Daniel P. Leahy, SIOR represented Ludlow, KY-based Duro Bag, which has 11 plants in the US and Mexico. AMB Properties shed a 24,722-sf asset in Itasca recently, getting $1.8 million, or $71.52 per sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.