CHICAGO—The vacancy rate for industrial properties in the O’Hare submarket has now declined for 12 straight quarters and recently sank to just 5.35%. So it’s perhaps not a surprise that another owner has successfully leased up a building next to the airport. 

CenterPoint Properties just signed a long-term lease agreement with Tax Air Freight for 55,251 square feet at 10700 Waveland Ave. in Franklin Park. Tax Air Freight is the third of three tenants in the 142,447 square foot facility, bringing its occupancy to 100%. Tom Rodeno of Colliers International represented Tax Air Freight in the transaction, and Jim Estus, also of Colliers, represented CenterPoint.

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