C&W Arranges 154,000-sq-ft. Industrial Lease for GELS Logistics in Carol Stream, Ill

International logistics group establishes third U.S. facility at Duke Realty’s 430 Kimberly Drive/E-Commerce Activity Heating up in Chicago Market
By: Cushman & Wakefield
 
CAROL STREAM, Ill. - Sept. 21, 2015 - PRLog -- Cushman & Wakefield has orchestrated a 154,000-square-foot lease for international logistics group GELS Logistics, Inc., also known as 360zebra at 430 Kimberly Drive in Carol Stream. The transaction represents the seventh e-commerce related transaction in 2015 for the commercial real estate services firm’s Chicago-based industrial team lead by Jason West.

West represented 360zebra with Sean Henrick and Michael Magliano. Brian Colson at NAI Hiffman served as broker for property owner/manager Duke Realty.

360zebra’s long-term commitment at 430 Kimberly Drive marks the establishment of its third U.S. facility. Headquartered in Los Angeles, Calif., the firm is a global leader in providing full-service logistics services for the e-commerce industry. It offers solutions in integrated operations, fulfillments, order management, logistics warehousing and distribution, door-to-door express delivery, customs brokerage and e-commerce supply-chain consulting services. In addition to a distribution facility in Baltimore, Md., the company has locations around the world.

According to West, e-commerce activity will continue to ramp-up in the Chicago market over the next several years. “E-retailers and the logistics companies that serve them are attracted by metro Chicago’s dense consumer population as well as its transportation infrastructure providing accessibility to key Midwest markets,” he said. “In the case of 360zebra, proximity to O’Hare International Airport was critical, as much of its business involves cross-border fulfillment.”

West noted that Duke Realty’s flexibility in structuring the transaction at 430 Kimberly was an important part of securing 360zebra’s commitment. “Because e-commerce is evolving, the industry includes a number of young, rapidly growing firms – with 360zebra among them,” he said. “Savvy landlords like Duke are embracing the opportunity to do business with tenants that may not come with a 50-year credit history but certainly represent tomorrow’s leading space users. They must be willing to provide deal terms that enable these companies to grow into their requirements with a financial structure that works for both sides.”

Carol Stream is located in Chicago’s Central DuPage submarket, which, according to Cushman & Wakefield research, is seeing progress in 2015. The overall vacancy rate in this submarket decreased by 0.5 percentage point year-over-year and measured 9.2 percent at the end of the second quarter. Direct net weighted average rents increased by 2.5 percent during this same period, currently measuring at $4.84 per square foot.

Cushman & Wakefield’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2014 globally, this group completed more than 8,200 industrial lease and sale transactions, including Capital Markets transactions, totaling nearly 337 million square feet with an aggregate value in excess of $16.8 billion.

The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.

Contact
Evelyn Weiss Francisco
***@caryl.com
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Source:Cushman & Wakefield
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Tags:E-commerce, Commercial Real Estate, Logistics
Industry:Real Estate
Location:Carol Stream - Illinois - United States
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