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WOODRIDGE, IL-Portable On Demand Storage of Chicago has signed a seven-year lease for 81,250 square feet at Wood Hill Crossings Business Park. The moving and storage company will relocate to the warehouse and distribution space at 11240 Katherine’s Crossing with a lease that brings the 263,000-square-foot building to 72% occupied. The recently developed facility is part of the Wood Hill Crossings Business Park, owned by Bristol Group Inc., which offers five buildings with a total of 946,000 square feet.

“PODS was interested in the location of Wood Hill Crossings due to its close proximity to both major interstates, 55 and 355,” Dave Williams, SVP of Bristol, tells GlobeSt.com. “Plus, the location is at the center of the market area this operation will be serving.” Jeffrey Kapcheck and Mark Bell of Colliers Bennett & Kahnweiler represented Bristol, while PODS was represented by Andrew Corken of CB Richard Ellis Inc. in the deal.

Williams says the asking lease rate for space in the building is around $5.50 per square foot net. About 70,000 square feet remains available for lease to tenants seeking spaces as small as 30,000 square feet. The property offers 81 trailer parking positions with room for expansion, 30-foot clear ceilings, seven-inch reinforced warehouse slab, ESFR sprinkler system, T5 fluorescent lighting and truck loading areas.

Bristol also negotiated a nearly eight-year lease with RJW Transportation, which took approximately 80,000 square feet. The building is also occupied by Agie Charmille, which is a tenant of 32,000 square feet.

The park is 82% occupied overall, and has seen 200,000 square feet of leases signed in the past three months, including a renewal and expansion by Wm. Wrigley Jr. Co. to 41,000 square feet at 11210 Katherine’s Crossing. Wood Hill Crossings is located in the Interstate 55 corridor, where occupancy rates are near 87% with asking lease rates that range between $4 and $6 per square foot net, according to Cushman & Wakefield’s year-end industrial market report.

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