Alive Telecom Leases 75,000 Sqft Industrial Space In University Park

Alive Telecom has recently leased a 75,000-square-foot space in a University Park building. The communications equipment supplier will open a second manufacturing facility near Chicago in Q4. Operations are set to start on October 1 in the industrial property located at 500 Crossing Drive. The lease terms are for a 5-year period, with an asking rent of $12 per square foot.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: N/A
• Address: 500 Crossing Drive, University Park
• Market: University Park
• Landlord: Mapletree
• Tenant: Alive Telecom
• Landlord's Rep: Brian Vanosky, Michael O’Leary, and Dylan Maher - Lee & Associates
• Tenant's Rep: Jeff Galante - Lee & Associates
• Asking Rent: $12/ft.
• Square Footage: 75,000
• Lease Terms: 5 years

The lease deal was brokered by Brian Vanosky, Michael O’Leary, and Dylan Maher from Lee & Associates, representing the landlord, Mapletree. The tenant, Alive Telecom, was represented by Jeff Galante, also from Lee & Associates.