Chicago & Midwest + Industrial | February 5, 2019

Lee Illinois Secures Full-Building Lease for Prologis

Lee & Associates Illinois has closed a full-building lease for a 101,536-square-foot industrial property at 2567 Greenleaf Ave. in Elk Grove Village, IL.

Chris Nelson and John Sharpe, principals with Lee & Associates’ Rosemont, IL office, represented the owner, Prologis. Steve Sullivan of NAI Hiffman represented the tenant, the Middleby Corporation, a manufacturer of commercial and residential cooking and industrial process equipment.

The O’Hare industrial submarket, including the Elk Grove Village property, has one of the Chicago region’s lower vacancy rates. At the end of the fourth quarter, vacancies in the submarket stood at 5.3%, according to NKF data; only five submarkets out of 18 had lower vacancies.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).