SVN Chicago Commercial Secures Warehouse Lease Renewal
Karen Kulczycki, CCIM & Beverly Hayes of SVN Chicago Commercial successfully negotiated the NNN renewal of 12600 S. Hamlin Court to the Hines Building Supply division of US LBM. The five-year industrial lease renewal included more than 45,000 square feet of warehouse space on 4.86 acres with rail service in Alsip, Illinois.
US LBM is one of the largest building products distributors in the United States, operating more than 400 locations nationwide. This is a long-term tenant since 2010, with a market rate renewal for a five-year term. SVN Chicago Commercial represented the Landlord and CBRE represented the tenant in the transaction.
“SVN Chicago Commercial referred the attorney for the team, worked with ownership in understanding the financial impact the new rental rate had on the value of their property, guided the client with the sell or hold decision through evaluation of multiple off-market purchase offers, and the 1031 exchange process.”
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.