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CHICAGO-Two furniture companies have taken advantage of a tenants’ market, leasing 79,000 SF on the south side of the city. Villegas Furniture has signed a three-year lease for 43,000 square feet at 2155 S. Carpenter St., while Roy’s Furniture moved into 36,000 square feet at 2701 S. Western. Despite a challenging market, such deals are not unheard of, as companies look to take advantage of competitive deals currently available, says Mark Nelson, associate with Paine/Wetzel ONCOR International, who worked on both deals.

“We’ve seen quite a few deals, which for the most part have been price sensitive,” Nelson tells GlobeSt.com. “Companies are seeing that they can move into far better space for the same price. Tenants are seeing that they can afford to move into space that a year or two ago they couldn’t afford.”

Villegas Furniture is relocating from its previous facility at 59th and Throop streets to the Pilsen location, where it will occupy the entire building at a lease rate of $6 per square foot gross. Mark Nelson, along with president Michael Nelson, represented Villegas and building owner Sitex Realty Group. The furniture manufacturing and sales company selected its new 1.2-acre property for its proximity to Cermak Road and Interstates 90 and 94, as well as it’s retail sales zoning.

“It’s important their demographics are right, and what they see for the Pilsen property is its accessibility to the highways and traffic exposure on Cermak,” Mark Nelson says. “A lot of their business is out of state and they have 53-foot trucks that they can pull up and load. Because of the zoning, they are able to have their manufacturing as well as a retail sales location all under one roof, so they can accommodate both components which is important.”

Roy’s Furniture moved from a multi-story building on Cermak to its space in a 136,0000-square-feet building, where lease rate is around $4.95 per square foot net. The 4.5-acre property offers 75 parking spaces and proximity to Interstate 55. Paine/Wetzel · ONCOR International represented building owner Wrightwood Capital in the deal, while Roy’s was represented by Sally Macois of Cushman & Wakefield.

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