Ridge Property Trust and Champion Realty Advisors LLC are planning an 18-million-square-foot industrial park in the suburbs about 40 miles southwest of Chicago. Ridge has spent the past three years assembling various parcels totaling 1,500 acres from more than 10 land owners. To be known as the RidgePort Logistics Center, the park is expected to be valued around $1 billion at completion and will be owned and developed by Ridge and marketed by Champion.
Hinshaw & Culbertson LLP has extended its lease for 153,000 square feet at 222 N. LaSalle St. The new deal takes the national law firm through May 2018 at the 961,000-square-foot building, where it has been headquartered since 1987.
The Building Commission of Chicago purchased a 112,000-square-foot industrial building on five acres at 3721 S. St. Louis Ave. Paying $3 million for the site, the commission has already razed the building and plans to redevelop the property into a Chicago public school.
Central Freight Lines Inc. has signed a five-year lease for a 53,000-square-foot distribution building. The facility in the Bolingbrook Corporate Center will house the Waco, TX-based regional less-than-truckload carrier’s freight operations. The property, which was originally developed by IDI as a build-to-suit for Toyota Motor Corp., will be used to consolidate products from numerous sources into single truckloads.
National Able Network has signed an 11-year lease for a 22,000-square-foot office in the Pilsen neighborhood. The nonprofit employment and training agency has seen significantly increased demand given current economic challenges, and will use the second and third floor of 1700 W. 18th St. for a new workforce development center. Expected to open in July, the new location will join a 15,000-square-foot existing workforce center operated by National Able at 18th Street and Blue Island Avenue.
The above information was compiled from Cityfeet Market Watch, Chicago. To view more information, please visit: www.Cityfeet.com
Filed under: Uncategorized Tagged: | Bolingbrook Corporate Center, Central Freight Lines, Hinshaw & Culbertson LLP, industrial park, National Able Network, Ridgeport Logistics Center, The Building Commission of Chicago
