Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BEDFORD PARK, IL-M. Block and Sons has leased 200,000-square-feet at the recently completed $45-million Bedford Park Corporate Center. The shipping and distribution company has signed a three-year lease for its space in the one-million-square-foot Ridge Property Trust development. M. Block signed on for space within the 270,000-square-foot Building I at 5139 W. 73rd St., and is expected to move in by this fall.

“They have a building they own across the street, and this lease is an expansion for them,” Doug Hayes, VP with Ridge, tells GlobeSt.com. “It’s odd these days to have someone doing an expansion, but business is good for them. They’re going to be doing a lot of shipping and receiving so there’s abundant docks in this building, and the quality of the development got them excited.”

The three-building project was developed on 50 acres by Ridge last year, and is currently 93% occupied with only the remaining 70,000 square feet in M. Block’s building still available. Other tenants include FedEx Home Delivery, Northcape International, GrupoFAMSA, Laufen International, and Toyota Tsusho America Inc. M. Block was represented by Jeff Locascio of Epic Realty Partners in the most recent lease, while Ridge was represented by Sally Macoicz of Cushman & Wakefield.

The facilities offer 32-foot clear ceilings, precast concrete construction and green designs, including white TPO roofs, natural light, concrete truck courts, and the use of recycled materials. The property also provides direct access to the CSX intermodal yard. Asking lease rates there are around $4.75 per square foot net.

“The village and mayor of Bedford Park are extremely pro-business,” Hayes says. “That makes it easy when you have someone looking at space because they’re very helpful and their door is always open. You don’t get that in all communities.”

The property is located in the south suburban submarket, where Hayes says occupancy rates are near 88%. “It took us about two years, and we’re excited about filling this space and the quality of the tenants,” Hayes says. “One of the big tenant draws to this area is its proximity to downtown, the interstates and Midway Airport.”

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.