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ALSIP, IL-Labriola Baking Company has relocated and expanded its headquarters into 180,000 square feet at 3701 W. 128th Place. The wholesale bread making company moved into its new space last week from its previous location nearby at 5324 W. 123rd Place. Labriola was represented in the deal by Larry Johnson of CB Richard Ellis, while building owner Madison Partners Realty was represented by CBRE’s Brad Weiner, George Maragos and Steve Livaditis.

“This was built in stages by the former American Licorice production company, so the attributes of the building lends itself toward food users,” Weiner tells GlobeSt.com. “There are features of the building that make it appealing to any food user, and some of the finishes of the building made it appealing to Labriola. They could see themselves in it, and it had some qualities that made it functional for them in the way it was set up.”

The property offers 20 to 25-foot clear ceilings, and was built in stages beginning in 1975 and 1995, with the most recent addition in 1998. Acquired by Madison in 2008, Labriola’s new building offers 220,000 square feet it total. It is fully occupied, with the remaining 40,000 square feet leased by Bill Downs Enterprises.

The asking lease rate at the building was $4.25 per square foot gross, and Labriola also got tax abatements through its deal. “The landlord got aggressive, and the building was a good fit for them,” Weiner says. The property is located in an industrial pocket of Alsip in the south suburban submarket, where overall occupancy is around 87%, according to Grubb & Ellis’ mid-year industrial market report.

“The market has been slow, but there has been some absorption recently in Alsip,” Weiner says. “Sometimes you see companies looking in Bridgeview or Bedford Park look in Alsip or Blue Island. It’s still overall probably slower than in the last few years, but I think it’s picking up a little bit.”

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