Lee & Associates Negotiates 10-Year Industrial Lease in Joliet
Torrance, CA – August 16, 2012 – (RealEstateRama) — Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has negotiated a 10-year industrial lease for a 236,273-square-foot unit in a Class-A distribution facility in Joliet, Ill. Located at 3500 Corporate Dr., the facility, a total of 442,484 square feet, will be the new home to Johnstone Supply Inc.
Walter Murphy, principal of the Lee Chicago office, represented the owner. Steven Tick of Podolsky represented Johnstone Supply, a leading national wholesaler and distributor in the Heating, Ventilating, Air Conditioning and Refrigeration (HVACR) industry.
“Not only was this property ideal for Johnstone’s distribution needs, but we were able to secure a successful tenant in a 10-year lease for our client.” said Murphy. “We are seeing a variety of distribution centers relocating from nearby states into Chicago as the logistical benefits of our I-80 and I-55 corridors continue to be recognized by corporate America.”
The tenant improvements include 8,600 square feet of office space, T-5 lighting and a HazMat room. While the facility is cross-docked, following the construction of 23 additional truck docks, it will be utilized by Johnstone as a single loaded facility. Paris Arnold of Lee Asset Management in the Chicago office worked closely with Johnstone to complete a work letter specific to their requirements. Johnstone Supply is scheduled to occupy the unit January 1, 2013.
About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 45 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at http://www.lee-associates.com.
