hsa commercial real estate represents all parties in lease expansion at north chicago business park
November 17, 2005
(Chicago – November 17, 2005) Tim Thompson, executive vice president and managing director of HSA Commercial Real Estate's industrial brokerage, and Doug Reed, senior vice president industrial brokerage, announced that they represented both ownership, CenterPoint Properties, and the tenant, Uline Shipping Supplies, in a lease expansion for the entire 394,070-square foot North Chicago Business Park located at 30120 Skokie Highway, North Chicago, Illinois.
Thompson and Reed originally leased 258,395-square feet to Uline in August, 2005 with an option to expand. Due to Uline's growing distribution network in the Chicago area, they decided to exercise the option now and take the entire building. Thompson and Reed worked directly with Michael Murphy and Nick Sisto of CenterPoint Properties, the owner of the facility, in crafting the lease expansion terms.
The North Chicago Business Park is a state-of-the-art industrial facility originally developed by HSA. The property was sold earlier this year by HSA as part of a $96 million portfolio acquisition by CenterPoint. Uline is a leading distributor of shipping, industrial and packing materials to businesses throughout the United States.
Celebrating more than 24 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate across the United States with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 7,000 transactions in 43 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 15 million square feet in 11 states.
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