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CHICAGO-Rapid Displays Inc. has signed a 260,000-sf lease at 4100 W. 76th St., here. The lease has an initial term of five years with possibly extensions up to a 15-year period, says Phil Rosenberg, a principal with Epic Realty Partners. The building will be the company’s primary distribution and value-added assembly facility.

Rosenberg and Ed Brandt, a partner with Epic, represented the tenant in the lease transaction. The property owner, Oak Brook, IL-based Insite Real Estate Development, was self-represented by Ted Praspolous and Dan Kostelny.

The tenant produces point-of-sale displays for product suppliers such as Microsoft and Jim Beam. The company had been leasing space in three separate facilities in Chicago and would have had to either lease a fourth facility or consolidate into a larger building, Rosenberg says. “It was becoming inefficient to operate out of two or three spaces and possibly a fourth,” he says. The company chose this building because of the location near its headquarters and “economics played a big part of it,” he says.

The building is currently about 80% leased. The asking lease rate for the 794,620-sf building is $3.25 per sf, gross, Rosenberg says.

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