Logistics company signs massive warehouse lease in Chicago

Cushman & Wakefield arranged a full 1.6 million-square-foot industrial lease at 701 Central Ave. in University Park, Illinois. Sean Henrick and Ryan Klink of Cushman & Wakefield represented the landlord, WP Carey, in the lease negotiations, while Jason West, Lou D’Avanzo and Adam Cooke represented the undisclosed tenant.

“This is one of the largest leases executed under one roof in the Midwest region in some time,” said Sean Henrick, vice president of Cushman & Wakefield. “Underlines the strength of Chicago’s industrial market as a central distribution location.”

The building’s location provides proximity to key transportation infrastructure and is within a day’s drive of 26 cities in the Midwest, Northeast and Canada. WP Carey made key investments in the building to transform an aging portfolio asset into a state-of-the-art facility that meets today’s market standards while reducing the building’s overall carbon footprint.

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