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LaSalle Investment Renews 106,100-SF Lease At Elk Grove Village Industrial Building

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LEASED
Jonathan Kohn
Kenneth Franzese
John Cassidy
+ 2

Illinois

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Industrial212,200 SF
Leased 12/11/2023
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Property Image
LEASED

LaSalle Investment Renews 106,100-SF Lease At Elk Grove Village Industrial Building

2551 Allan Drive & 2561 Allan Drive

See Similar Deals
Industrial212,200 SF
Leased 12/11/2023
Jonathan Kohn
Kenneth Franzese
John Cassidy
+ 2
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:212,200 SF
Transaction Type:Lease

LaSalle Investment Management has renewed a lease for a 106,100-square-foot industrial building located at 2551-2561 Allan Drive in Elk Grove Village, a Chicago suburb. The property, acquired for $17.8 million in 2015, features 24-foot clear heights and offers convenient access to interstates 290 and 90. The industrial sector in Chicago has strong fundamentals, with a vacancy rate of 4.9 percent as of October.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Square Footage: 106,100
  • Address: 2551-2561 Allan Drive
  • Market: Elk Grove Village

The lease transaction was between LaSalle Investment Management, represented by Mark Gabbay, as the landlord, and Logisteed America Inc., represented by Greg Kodama, as the tenant. The landlord's representatives in the deal were Christopher Volkert and Jonathan Kohn from Colliers, while the tenant was represented by John Cassidy and Kenneth Franzese from Lee & Associates.

Players

Jonathan Kohn
Colliers
Jonathan Kohn
3 deals(847) 698-8279
BROKER
Kenneth Franzese
Lee & Associates
Kenneth Franzese
14 deals$9.2M volume(847) 456-4213
BROKER
John Cassidy
Lee & Associates
John Cassidy
19 deals$54.4M volume(312) 371-0098
BROKER
Christopher (Chris) Volkert
Colliers
Christopher Volkert
4 deals(847) 698-8237
BROKER
JLL
JLL
BROKERAGE
MG
JLL
Mark Gabbay
17 deals$751.6M volume
LANDLORD

Details

LEASED
IMAGE: John Cassidy, Christopher Volkert, Kenneth Franzese, Mark Gabbay & Jonathan Kohn DATE: 12/11/2023 ADDRESS: 2551-2561 Allan Drive MARKET: Elk Grove Village ASSET TYPE: Industrial ~ SF: 106,100 LANDLORD: LaSalle Investment Management (@LaSalleIM) - Mark Gabbay TENANT: Logisteed America Inc. - Greg Kodama LANDLORD'S REP: Christopher Volkert & Jonathan Kohn - Colliers (@ColliersInternational) TENANT'S REP: John Cassidy & Kenneth Franzese (@Kennedyzese) - Lee & Associates (@LeeAssociatesRE) NOTE: LaSalle Investment Management has renewed a 106,100-square-foot lease at a 198,196-square-foot industrial building in Elk Grove Village, a Chicago suburb. The property, acquired for $17.8 million in 2015, features 24-foot clear heights and convenient access to interstates 290 and 90, amid strong fundamentals in Chicago's industrial sector with a 4.9 percent vacancy rate as of October.

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Deal Type
Effective Rent (Annual)

$12,163,175.95

Total Lease Value

$121,631,759.49

Net Landlord Cash Flow$12,163,175.95