Lee & Associates Fully Leases Property with Alive Telecom Lease
Lee & Associates represented both the owner and the tenant in a 74,978-square-foot lease at 500 Crossing Drive in University Park, Illinois. With this transaction, the 150,000-square-foot industrial building constructed in 2006, is now 100 percent leased.
Brian Vanosky, Principal; Michael O’Leary, Senior Vice President; and Dylan Maher, Vice President, represented the landlord, Mapletree. Jeff Galante, SIOR, Principal, represented the tenant, Alive Telecom. All brokers are with Lee & Associates of Illinois.
Vanosky said, “Our team is excited to have represented Mapletree in 150,000 square feet of transactions at the property over the past 18 months. The demand further supports the viability of the I-80 corridor and University Park as a great location for both manufacturing and distribution purposes.”
Alive Telecom is a growing global supplier of equipment, systems and services for the communications market. “This building allows Alive Telecom to strategically scale its operations as it continues to grow,” Galante said.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.