Food-packing company Assemblers Inc. signed a long-term lease extension with Heitman Capital Management on its sprawling McCook location.
The Chicago-based company has occupied the 353,000-square-foot building at 8601 West 47th Street since 2016. It also has facilities on the city’s South Side and in Bedford Park.
Newmark Knight Frank’s Geoffrey Kasselman arranged the lease extension in McCook on behalf of Assemblers.
Founded in 1974, Assemblers is a private assembly and contract-packaging company. It specializes in food co-packing and secondary manufacturing, snack food packaging and point-of-purchase displays. It originally leased the McCook building in support of its growing third-party food production business, NKF said.
McCook has a lot riding on the Chicago industrial market — the suburban industrial market has been very good — with rents hitting record highs in the second quarter, according to an NKF report.
Nearby, in Hodgkins, Midwest Industrial Funds in July bought a 600,000-square-foot complex for $17 million.
The two suburbs sit just west of an area of the South Side that has seen a surge in industrial activity. Amigos Foods’ 110,000-square-foot processing and warehouse facility near 51st Street and South Kedzie Avenue landed one of the biggest construction loans of the second quarter, while Venture One and USAA are planning a $17.5 million speculative logistics complex not far from the Banner site at 2445 South Rockwell Street. And a couple miles south, in Back of the Yards, Marina Cartage is building a 633,000-square-foot spec industrial complex at 2075 West 43rd Street.
Wholesale grocer Banner Foods recently completed its own 75,000-square-foot warehouse at 3000 South Ashland Avenue.