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WAUKEGAN, IL-Visual Pak has renewed its lease for 111,182 square feet at 1817 Waukegan Rd. The packaging solutions provider signed a three-year lease for the space in the 287,000-square-foot building in Amhurst Lake Business Park that it has occupied for nearly a year.

Principal Whit Heitman, SVP Samuel Badger and associate Jason Weinhaus, all with Paine/Wetzel ONCOR International, represented building owner Prudential Real Estate, and were the sole brokers in the deal.

“They went out and looked at the market and realized that by renewing their lease, they would be able to get a more affordable lease rate,” Heitman tells GlobeSt.com. “It’s pure warehouse/distribution space, and it’s proximity to their other location was another benefit.” Visual Pak also operates a 250,0000-square-foot warehouse it owns in the business park at 3505 Birchwood Dr., which connects to the other facility by a road they built so they could drive a forklift between the two.

Located in the 1.2-million-square-foot Amhurst Lake Business Park, Visual Pak’s building on Waukegan Road is fully occupied, with the remainder occupied by Abbott. Built in 2000 and dubbed Amhurst Industrial Center, the facility offers 20-foot clear ceilings and 10 exterior docks. Asking lease rates at the building are around $5.25 per square foot net, and as a part of lease negotiations, Prudential installed energy-efficient lighting in Visual Pak’s space.

The building is located in the Lake County submarket, where overall occupancy is around 88%, according to Heitman. “Well-located properties are the ones that are doing the best, and Amhurst is less than a mile from the Interstate 94,” Heitman says. “This kind of product is really doing very well.”

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