CENTERPOINT PROPERTIES ANNOUNCES LONG-TERM LEASE IN HILLSIDE, IL
Posted By Staff Writers On May 29, 2013 @ 8:02 pm
Oak Brook, IL – CenterPoint Properties recently signed a long-term lease with Veterans Distribution of Chicago for 5999 West Butterfield in Hillside, Illinois. The 295,393 SF facility will be fully leased through September of 2025. Cushman & Wakefield represented CenterPoint on the transaction and the tenant was co-represented by Summit Realty Group and Cushman & Wakefield.
“The Hillside location worked out great for Veterans Distribution because it is centrally located within the Chicago metropolitan area,” said Brad Factor, Vice President of Veterans Distribution of Chicago. “This facility will allow us to grow and make us a lot more efficient operating out of one building that accommodates both space requirements, as well as material handling equipment. CenterPoint was excellent to work with, extremely fair, and provided just about every desired property improvement making it built-to-suit.”
Veterans Distribution of Chicago is a logistics company that services Illinois, Southeast Wisconsin and Northwest Indiana. The company offers several transportation solutions aimed at reducing customers’ supply chain costs. A family owned and operated business formed over 45 years ago, they currently process and distribute over 40,000 items a night. With this move, the firm will re-locate and consolidate its current locations in Elk Grove Village and Bensenville.
“CenterPoint is pleased to secure a tenant for this high profile asset and are proud to have a Chicago-based operation. We are confident this new location will help the tenant to better manage their strategic and logistic objectives,” said Sean Maher, Chief Operating Officer for CenterPoint Properties.
Situated on 15.11 acres right off of I-88, I-290 and I-294, the facility is 27’ clear, with 218 car parking, 31 docks and three drive-in-doors. Veterans Distribution of Chicago estimates the move to the new Cook County location will be complete by the fall of 2013.
About CenterPoint Properties Trust
CenterPoint Properties Trust is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint’s portfolio includes 45 million square feet and 6,000 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit www.centerpoint.com or follow @centerpointprop on Twitter.
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