Lee & Associates of Illinois Negotiates 10-year Industrial Lease in Bloomingdale

Lee & Associates has negotiated a 10-year, $5 million lease for a 110,063-square-foot industrial property located at 171 Covington Drive in Bloomingdale.
John Cassidy, Ken Franzese and John Sharpe, all principals of Lee & Associates’ Illinois office, represented the landlord, Venture One. The tenant, Compass Group, was represented by Matt Mulvihill of CB Richard Ellis Inc.

“This versatile industrial property is well-positioned for the tenant, as it boasts numerous amenities, including eight conference rooms, a modern employee cafeteria and an additional 11,800 square feet of mezzanine storage in a central location that offers easy access to numerous transit options,” Cassidy said. “Additionally, the proximity to the bustling Chicago marketplace was a key attraction for Compass Group, who plans on utilizing the property as a warehouse and distribution facility for food products, as well as maintenance and storage facility for vending machines.”

Venture One Real Estate

Venture One is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the Chicago MSA and Northeast Industrial Region. Principals of Venture One have over $7 billion of transactional experience. For further information go to www.VentureOneRE.com.