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ELK GROVE VILLAGE, IL-The Symons Concrete Forming Group of Dayton Superior Corp. has signed a lease for the entire 230,768-sf industrial building at 2400 Arthur Ave. The two-story building, which is owned by TIAA-CREF, has more than 203,000 sf of warehouse space, 27,426 sf of office space and 20 interior docks on 7.8 acres.

Dayton Superior Corp., a supplier of concrete and masonry construction products, is relocating its headquarters from Des Plaines. “They are consolidating their operations into a more efficient manufacturing plant for them,” Cushman & Wakefield broker Britt Casey tells GlobeSt.com. Additionally, the business sold the buildings they currently occupy in Des Plaines, Casey says. “They had sold their property to a developer who is going to raze their existing facilities and construct new air freight related distribution buildings.”

Dayton Superior has already taken possession of the building and will be completing some renovations before moving into the facility in the third quarter. The previous tenant was John B. Sanfilippo and Son Inc., a nut distributor, Casey says. “Dayton will convert the interiors of the warehouse area to a metal and wood manufacturing facility,” Casey tells GlobeSt.com. The lighting and interior plant offices will be upgraded. “They are going to put crane bases in the building to facilitate moving the raw product in the manufacturing. They are doing a lot of upgrades to the facility,” he says. Casey did not have an estimate for the renovation costs.

The business chose the building, in part, because of its location in Elk Grove Village, including its proximity to O’Hare International Airport and Chicago. “I think it is due to the immediate proximity to their existing facilities so they would not lose any of their labor supply,” Casey says. “And, the facility overall, functionally, just worked extremely well for them.”

JRT Realty, led by executive vice president Greg Smith along with Casey and broker Mike Hawryluk, with Cushman & Wakefield, negotiated the lease. Studley’s Assistant Director Kevin Moore represented the firm along with Executive Managing Director Steve LaKind and Senior Managing Director Eric Danielson. The lease has a term of 15 years, seven months, Casey says. The price of the lease and the aggregate value of the lease were not disclosed. Asking rent for the O’Hare Industrial submarket is about $5.53 per sf, according to a Grubb & Ellis fourth quarter market report.

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