Lease with 48forty Solutions brings trio of Lockport buildings to full occupancy; company’s new spec building in I-55 submarket ready to meet users’ needs.
The Chicago office of Duke Realty (NYSE: DRE), the leading domestic-focused, industrial-only property REIT (Real Estate Investment Trust) in the country, announces that it has signed a lease with 48forty Solutions, a pallet management company, for 83,720 square feet at 16508 S. John Lane Crossing in Lockport. With this lease, Duke Realty’s three Lockport buildings, which total 802,284 square feet, are 100 percent leased. To meet ongoing demand in the I-55 submarket, Duke Realty recently delivered Airport Logistics Center I, a 543,780-square-foot modern logistics building. The building is located at 950 W. Renwick Road in Romeoville and is available for lease.
“We are pleased to welcome 48forty Solutions to Lockport 16508 and all the benefits associated with this well-located property,” said Susan Bergdoll, Vice President of Leasing and Development for Duke Realty in Chicago. “This building, as well as our other I-55 properties including Airport Logistics Center I, provide convenient connections to I-355, I-80 and I-55, allowing users to quickly access the Chicago metro area, the entire state and beyond.”
Airport Logistics Center I features 36′ clear height, 53′ x 50′ bays with 60′ staging bays, 81 dock doors and parking for 125 trailers and 335 cars. To facilitate truck and car access, Renwick Road has been widened to accommodate an eastbound turn lane. Lewis University Airport, which is located adjacent to the site, offers corporate jet access. The 76.5-acre site on which the building is located allows for an expansion of the building to 1.3 million square feet, additional car or trailer parking or the construction of a second building.
Timothy McCune with Corporate Realty Advisors and David Prell with CBRE represented 48forty Solutions in its lease, while Duke Realty was represented by Jason West and Sean Henrick with Cushman & Wakefield, as well as Ms. Bergdoll & Casey Grant with Duke Realty.
In addition to Airport Logistics Center I, Duke Realty owns and manages another 14 buildings totaling more than 4.3 million square feet in the I-55 submarket that are more than 95 percent leased.
Parties interested in leasing or build-to-suit opportunities with Duke Realty in the Chicago metro area are invited to contact Ms. Bergdoll at 847.232.5420 or Ms. Grant at 847.232.5487.
About 48forty Solutions
48forty Solutions is North America’s largest pallet management services company with a national network of company-owned and operated facilities and fleet operation to serve customers. Comprehensive pallet solutions include supply and retrieval, on-site services, reverse logistics, and packaging materials delivered to national and local companies by a customer-focused network of 225 facilities and 2,200 employees. Visit www.48forty.com.
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages or has under development more than 15 million square feet of industrial properties and has strategic land positions available for future development. Duke Realty’s local office is located at 1301 West 22nd Street, Suite 800, Oak Brook, Illinois, 60523. The office phone number is 847.232.5400.
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 158 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.