Midwest Industrial Funds Completes 35,000-square-feet in Leases
Midwest Industrial Funds Completes 35,000 Square Feet in Leases
Midwest Industrial Funds completed three new leases totaling over 35,000 square feet at 1000 W. Crossroads Parkway, Bolingbrook, IL. The most recent was a 20,000 SF lease with Chicago Tribune which will be used as a core service and inserting facility for their existing distribution network. Chris Porter of Cushman and Wakefield represented Chicago Tribune.
Midwest Industrial Funds also completed two other new leases in 2013 at the property totaling 16,000 SF with Astral Industries, a national distribution company, and RAILS who will use their space for office and distribution of books and periodicals.
Jeff Galante, a Principal at Lee & Associates, represented the landlord Midwest Industrial Funds, on all transactions stated, “We are very pleased with the recent leasing and quick turnaround at this property. Midwest has done an excellent job being ultra-responsive to the market and having the construction, leasing and management expertise to take this building from largely vacant and in foreclosure in 2012 to over 70% leased in only a year. The momentum is definitely headed in the right direction with this property.”
Mr. Galante and Lee & Associates are marketing the remaining 20,000 SF of space in the building which features 21’ clear ceilings, ESFR sprinkler, office space to suit, five grade level doors and access to two common docks.
Midwest Industrial Funds is a vertically-integrated industrial real estate investment, development and asset management company that has acquired or developed over 2.5 million square feet of industrial buildings and over 150 acres of land valued in excess of $100 million since 2000.