X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HAMMOND, IN-BP North America has signed a lease for a 64,150-sf building at 6529 S. Columbia Ave., here. BP will use the building for its Interim Learning and Development Center.

Raymond Dempsey, broker with Chicago Real Estate Inc., represented building ownership, Franklin Park, IL-based Central Raceway LLC, in the lease transaction. Michael Thomas, of Jones Lang LaSalle, represented BP North America.

The tenant had been using space in the refinery in Whiting, IN for the learning center but “outgrew the space,” Dempsey tells GlobeSt.com. BP chose the building, in part, because it will have 350 parking spaces, of the 400-car parking lot, dedicated to the learning and development center, he says.

The energy firm spent $8.5 million on improvements to the building, Dempsey says. The building is near the East 165th Street retail corridor. The building was acquired by Central Grocers Inc. in 2002 and was operated as a Sterk’s Super Foods grocery store until April 2007.

An 8,400-sf strip center is also on the 9-acre property, which is currently being renovated into a retail center, Dempsey says. The 8,400-sf building was constructed in 1954 and used to be a grocery store, he says. A 2,500-sf building leased by First Midwest Bank is also on the nine-acre parcel.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.