Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

ROMEOVILLE, IL-Ozburn-Hessey Logistics LLC, based in Nashville, TN, is expanding its lease by 206,000 sf to occupy the entire 562,624-sf building at 99 N. Pinnacle Dr. The terms of the lease were not disclosed.

J.D. Salazar, with Champion Realty Advisors, and Randy Wolcott, with ProVenture Real Estate, represented Ozburn-Hessey in the lease transaction. Kirk Armour, with CB Richard Ellis, represented building owner DCT Industrial Trust Inc. in the transaction.

Representatives from DCT Industrial Trust Inc. declined to be interviewed. “As one of our largest customers, we are thrilled to see our relationship with OH Logistics grow to more than 800,000 sf in four markets,” said DCT Industrial managing director Daryl Mechem in a released statement.

The third-party logistics company leased 230,007-sf in the building last year, as reported by GlobeSt.com, and expanded to 356,378 sf last December. The cross-dock facility, which was completed in 2005, has 2,500 sf of office, 28 exterior docks with 40,000-pound levelers, 23 trailer stalls and parking for 75 cars. Under the lease agreement signed in 2006, Ozburn-Hessey had the opportunity to expand into the remaining space of the building at a set rental rate and tenant improvement package. Average warehouse and distribution lease rates for the I-55 corridor submarket are $4.08 per sf, according to Grubb & Ellis’ first quarter market report.

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.