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Chicagoland area sees an uptick in leasing for industrial sector

Chicagoland area sees an uptick in leasing for industrial sector 13 Apr 2021

Avison Young leases more than 200,000 sf of industrial space across multiple submarkets

Chicago, IL – Avison Young today announced that it has negotiated the long-term lease renewal of  137,563 square feet (sf) of industrial space on behalf of OPTO International, Inc.,  at 1325 Mittel Drive in Wood Dale, IL. This is the largest of three recent leasing transactions brokered by Avison Young across the O’Hare Industrial, I-90 West Industrial and O’Hare Industrial Chicago submarkets. 
OPTO International, Inc., the tenant, was represented by Avison Young Principal Brian Colson and Brian Pomorski, a Vice President in the firm’s Chicago-Rosemont office. The landlord, LBA Logistics, was represented by John Norton, Vice President, LBA Realty.
“OPTO International made the strategic long-term commitment with LBA Logistics, because the facility offered an ideal location within the prestigious Chancellery Business Park for their corporate headquarters,” commented Colson. “It is encouraging to see an increase in leasing activity around Chicago.”
OPTO International, Inc. customizes retail spaces for clients to ensure a successful retail experience for their customers.
Other transactions negotiated by Colson and Pomorski that demonstrate a positive trend for Chicago’s industrial sector include:
  • J&K Cabinetry, the tenant, leased 102,935 sf at 2440 Pratt Boulevard, Elk Grove Village, IL. The cabinet-making company also maintains a 20,000-sf lease at 1655 Busse Rd, Elk Grove Village, IL. J&K Cabinetry specializes in kitchen and bathroom cabinetry design.
  • Heritage Travelware, the landlord, leased 69,175 sf at 2380 Galvin Drive, Elgin, IL for Yunhung CTI. Yunhung CTI develops custom film for food packaging, medical, and commercial applications.
  • Colson and Pomorski also represented a private investor who is the seller for a location at 1401-1403 Howard Street, Elk Grove Village, IL for 10,000sf. The buyer, Pelican Logistics, provides transportation and logistics services to various industries.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a  private company, our  clients collaborate with an empowered partner who  is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2020 winner of the Canada' s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.

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