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Food-packing firm signs warehouse lease extension, as Chicago industrial market remains strong
Assemblers Inc. re-upped in Bedford Park, shortly after inking deal in McCook
Assemblers Incorporated signed a lease extension for a 271,000-square-foot warehouse in Bedford Park, just months after signing a big industrial lease in McCook.
The packaging firm signed the extension with landlord GLP for the building at 5139 West 73rd Street in the Bedford Park Corporate Center, according to Newmark Knight Frank. The company has been there since 2014.
The Chicago area in 2018 solidified its place as one of the top regions in the country for industrial and logistics lease signings.
NKF’s Geoffrey Kasselman and Chris Hill arranged the lease on behalf of the 44-year-old Assemblers. Brian Vanosky and Jeff Janda of Lee & Associates represented GLP in the transaction.
Kasselman also represented Assemblers on a long-term extension last year with Heitman Capital Management for the 353,000-square-foot building at 8601 West 47th Street in McCook that it’s occupied since 2016.
Chicago-based Assemblers is a private assembly and contract-packaging company. NKF said the McCook building is used for Assemblers’ growing third-party food production business and Bedford Park facility serves its non-food clients. The firm also has a facility on the city’s South Side.
After Chicago area industrial rents hit a record high in the second quarter of 2018, the market saw more industrial leasing activity in the third quarter than at any point since 2015.