NanoGraf Leases Prologis’ Entire Near West Side Building

A battery technology company is expanding its operation on Chicago’s Near West Side, handling the nation’s largest industrial property owner Prologis a leasing victory.

NanoGraf has signed a lease to occupy the entire 67,850-square-foot building at 455 North Ashland Avenue, a stone’s throw away from its existing 17,000-square-foot facility at 400 North Noble Street, Crain’s reported.

The lease is a big win for San Francisco-based real estate investment trust Prologis, which paid nearly $12 million for the industrial building in 2020. Properties like 455 North Ashland were heavily targeted by investors during the onset of the pandemic, as an increase of e-commerce shopping fueled demand for warehouse space to store and distribute products bought online.

Rather than rushing to secure tenants, Prologis left the building vacant until the right company came along, increasing the likelihood of a long-term lease and financial prosperity.

The expansion marks a significant milestone for NanoGraf, which was spun out of Northwestern University and has experienced recent growth driven by military contracts. Notably, the company received contracts totaling $23 million from the U.S. Army to develop batteries for soldiers’ equipment.

NanoGraf’s technology, which makes use of silicon anode material, promises to enhance battery capacity by approximately 30 percent. This innovation has positioned the company favorably in the context of the U.S. Department of Defense’s heightened emphasis on battery-powered equipment and domestic production of critical technical products.

The new facility will feature manufacturing space, laboratories, inventory and offices, enabling NanoGraf to meet military orders efficiently and advance its commercialization efforts.

“With our second facility, we’ll be able to advance our work on our Department of Defense contracts, ensuring that soldiers have the power they need to complete their missions,” NanoGraf CEO Francis Wang told the outlet.

In addition, the lease bolsters the Near West Side’s reputation as a hub for light industrial businesses. The area, historically known as a hotbed for brewers, floral shops, caterers and other small-scale manufacturers, recently welcomed advanced manufacturing incubator mHub, as well.

—Quinn Donoghue