July 20, 2023 9:00 AM
Newmark announces it has secured a 329,210-square-foot industrial lease on behalf ownership, Huntley Investment Partners, at its state-of-the-art industrial development Huntley Commercial Center in Huntley, Illinois. The prelease transaction welcomes tenant Kuriyama of America, who will occupy 60% of the 540,960-square-foot Class A industrial speculative building currently under construction at 14200 Commerce Court, delivering Q4 2023.
Newmark Senior Managing Director Adam Marshall, SIOR, CCIM and Director Mark Deady, CCIM serve as exclusive leasing advisors for the property, representing Huntley Investment Partners, LLC (“HIP”), a joint venture comprising Craig Realty Group, Inc., The Prime Group, Inc. and The Capital Companies.
“With the execution of this long-term lease with Kuriyama, our team secured a well-established distribution occupier as the anchor tenant,” said Marshall. “Huntley Commercial Center provides an excellent opportunity to occupy a brand new, Class A industrial facility located in one of the fastest growing communities in the Chicagoland area. We will continue to work collaboratively alongside ownership to bring the asset to 100% leased as construction continues.”
Less than one year after breaking ground on the speculative building, the collaborative efforts of Newmark and ownership continue to achieve successful results, as evidenced by this latest transaction. Of the total available space, 211,750 square feet remain, which can accommodate a single user or be subdivided to 100,000 square feet and dedicate the user up to 29 docks and 65 dedicated trailer parking stalls. In addition, the Huntley Commercial Center also features an 11.6-acre site for a future 177,320-square-foot industrial build-to-suit that is available for immediate development. Precast wall installation is complete, and structural steel and roofing are scheduled for completion by end of August 2023.
The building features 36-foot clear height, 357 parking stalls, 90 dedicated trailer parking stalls, 100 exterior docks, four drive-in doors and is suitable for any type of distribution or industrial use in a business park setting. The property is situated along I-90, located one mile east of the four-way interchange at I-90 and Route 47 in Huntley. It features 2,000 feet of frontage along I-90, making it one of the premier locations for industrial/distribution facilities in the northwest I-90 corridor, including the opportunity for as-of-right building signage and monument signage along I-90.
The four-way interchange at Route 47 and I-90 is an ideal location for industrial/distribution facilities, as evidenced by the adjacent 800,000-square-foot global distribution center developed for Weber Grill in 2015; the new, 1,789,336-square-foot Amazon distribution campus across the street; as well as many other industrial properties developed recently along the I-90 corridor.
Cresa’s Ed Lowenbaum and Glenwood Commercial Realty’s Jason Talanian represented the tenant Kuriyama in the lease transaction.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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