Colliers International’s David Bercu, SIOR, principal; Jonathan Kohn, principal; and John D’Orazio, associate, represented Interstate Partners LLC in two new long-term building leases totaling 292,000 square feet at Prairie Business Park in Gilberts, IL. Prairie Business Park is a Class A four-building, 60-acre industrial development located on the I-90 Golden Corridor in the Elgin submarket. The properties have been heralded for easy I-90 and STH 72 access, a corporate tenant roster, energy efficient low maintenance design, featuring 100% DuctileCrete exterior paving and slab, and on-site property management.
Sub-Zero Group Inc. signed a 225,000-square-foot, long-term lease at Prairie Business Park III, located at 200-290 Burnet Drive. The Madison, WI-based luxury appliance manufacturer and distributor is consolidating two facilities when it relocates to Prairie Business Park. Sub-Zero was represented by Tim Rikkers of Cresa Partners. Prairie Business Park III is a 275,000-square-foot facility featuring precast construction, 32’ clear ceiling height, and 40 docks in a cross-dock configuration.
WESCO Distribution, Inc. signed a 67,000-square-foot, long-term lease at Prairie Business Park II, a 203,000-square-foot property located at 41-59 Prairie Parkway. WESCO is a Fortune 500 leader in industrial supply with an extensive offering of electrical, data communications, general maintenance, repair, and operating (MRO) and electrical OEM products. Wesco was represented by Grant Glattly of Jones Lang LaSalle.
“Credit tenants recognize the I-90 Corridor Elgin submarket benefits to operate their business from, including ease of access, quality labor force with varying skills and education, and superior business retail services,” said Mark Ebacher, President of Interstate Partners. “Prairie Business Park in particular offers residents the opportunity to be in the highest quality new construction, realize cost savings from targeted materials selection and overall park design maximizing views and natural landscape,” he added.
PBP IV, a 285,000-square-foot, 32’-clear-height building within Prairie Business Park, is the fourth and final building with entitlements and permits in place for a quick delivery. Groundbreaking has yet to be announced.
Two major new leases signed at Prairie Business Park in Gilberts
Date Published: 05/23/2017