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WOODRIDGE, IL-HSA Commercial Real Estate has leased 100,000 square feet to three companies at its $8-million Park 355. With the most recent leases, the 254,000-square-foot industrial building, at 2145 Internationale Parkway, is 80% occupied.

Asking lease rates at the development vary based on tenant improvements, square footage, lease term and credit, but average in the low- to mid-$5 range per square foot, net, according to Tim Thompson, executive vice president and managing director of HSA.

“We’re one of the further east developments in the Interstate 55 corridor,” Thompson tells GlobeSt.com. “It’s always better to be further east than further west. We’re within minutes of interstates 55 and 355, where you can go north, south, east and west.”

Ben Cremer and Michael Robbins of NAI Hiffman represented Trenton, NJ-based Highway Distribution Systems in the largest of the three leases, for 57,525 square feet, which it will use as a warehouse for its logistic and distribution operation to various printing industries. A private, local company, which declined to have its name released, leased 28,000 square feet to be used for warehousing and distribution. Represented by J.D. Salazar of Champion Realty Advisors LLC, the village of Woodridge leased 14,480 square feet to be used as a warehouse for its equipment and maintenance operations.

In each of the leases, HSA was represented by Chuck Canale of Colliers Bennett & Kahnweiler. The building sits on 13 acres. It offers 30-foot clear ceiling heights, 65 exterior loading docks, 10 drive-in doors, ESFR sprinklers, trailer parking and a 236-car parking lot.

HSA has also begun plans to develop a 19-acre neighboring parcel the company already owns. Thompson says the firm will begin work soon on a 350,000 square foot build-to-suit or speculative development on the property adjacent to its first building. “It’s a very strong corridor in the Chicago market that we’re looking forward to more development in,” Thompson says.

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