X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WOODRIDGE, IL-Canon USA Inc. has leased 174,000 square feet at a new construction industrial facility completed previously this year by ProLogis. The property, at 10350 N. Beaudin Blvd. in Woodridge, is 348,625 square feet, and was built on spec by the distribution facility developer ProLogis. Canon’s new industrial location joins other distribution facilities it operates out of Mexico City, northern New Jersey and Chicago.

“We are pleased that Canon has selected ProLogis again to expand their distribution network in North America,” said Matt Marshall, VP and Canon customer contact at ProLogis. He declined to comment on the lease rate for the deal.

Asking lease rates in the central DuPage County submarket range from $6 to $10 per square foot, net, according to Cushman & Wakefield market research. The building has one other tenant, CEVA Logistics, who signed a 128,000-square-foot long-term lease in Q3, according to Grubb & Ellis market research.

“Despite challenging economic times, ProLogis has experienced solid new leasing activity during the fourth quarter in Chicago,” said Doug Kiersey, SVP and Midwest regional director for the company. “This market is one of the most popular distribution hubs in the US due to its excellent highway access and central Midwestern location.”

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.