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Chicago & Midwest  + Greater Chicagoland  + Industrial  |  November 9, 2021
1211 Fairview Drive DeKalb Illinois 3M warehouse
Paul Bubny
By: Paul Bubny

3M Renews 410K-SF Lease for Global Distribution Hub

3M has signed a 12-year lease renewal for its 410,000-square-foot global distribution hub in DeKalb, IL. The agreement was signed with the property landlord, Modiv Inc., a public, non-listed REIT which is based in Newport Beach, CA and plans to begin trading in 2022. 

Modiv says the long-term lease is significant given the continued demand for industrial properties, driven in part by the strong demand for goods by consumers across the globe. Located at 1211 Fairview Dr., the DeKalb property is a key component of 3M’s global distribution efforts. 

 Jenny Aust Turner with Cresa in Phoenix represented 3M. Modiv was represented in-house. 

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Cresa's TurnerModiv

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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