Midwest Industrial Funds Completes Over 400,000 SF of Leases in the Fox Valley Submarket
OAK BROOK, IL – December 2022 – Midwest Industrial Funds announced over 400,000 SF of recent leases at their speculative developments located in Chicago’s Fox Valley submarket. The lease deals highlight the continued strong tenant demand for industrial space throughout the submarket which is located 33 miles from downtown Chicago. Midwest Industrial has been the most active industrial developer in the Fox Valley over the last few years successfully developing and leasing five different spec buildings.
537 Discovery Drive, West Chicago – DuPage Business Center
Vanguard Logistics signed a lease for 287,051 SF of the 400,088 SF building prior to completion of construction. 537 Discovery is Midwest Industrial’s third spec project in the DuPage Business Center and features 36’ clear height, a cross docked configuration with up to 87 docks, 377 auto spaces and onsite trailer parking. Mark Moran and John Whitehead of NAI Hiffman represented Midwest Industrial Funds on the transaction and are marketing the remaining 113,037 SF in the building for lease and Jeff Cecil, Sara Troy and Zak Mirkowski of Savills represented Vanguard Logistics.
1459 Louis Bork Drive, Batavia – Batavia Business Park
Batavia Container, Inc. signed a full-building lease for the 125,205 SF project soon after completion of construction. 1459 Louis Bork features 32’ clear height, heavy power, a rear loading configuration with up to 33 truck docks and 145 auto spaces. Michael Androwich, Jr. represented Midwest Industrial Funds on the transaction and Michael Magliano of Cushman & Wakefield represented Batavia Container.
“With these recent deals in Fox Valley and others in the Chicago market, we have signed over 600,000 SF of new leases and are continuing to see strong leasing demand across all of our projects,” stated Midwest Industrial Funds Principal, Michael Androwich. “Each day brings new challenges in our business, but we continue working hard to serve the needs of our tenants and partners. We are grateful for the relationships we have built within the brokerage community over the past 20+ years and for our ability to work closely with them on these opportunities.”