Caterpillar Logistics Leases 295,625 SF from IDI in W. Chicago
Chicago, December 16, 2009 – IDI, a full-service industrial real estate company, has closed a 295,625-square-foot lease renewal with Caterpillar Logistics Inc., a third party logistics provider, at 2001 Baseline Road. Caterpillar Logistics uses the facility for staging, light assembly and quality control of parts for the company’s U.S. operations.
Caterpillar Logistics originally selected the location in April 2007 because of its proximity to the Caterpillar USA plant across Baseline Road. The facility is located in Fox Valley in Montgomery, IL, approximately 45 miles west of the Chicago central business district. Eby-Brown, a leading convenience store supplier and wholesale food distributor, also leases 290,000 square feet at 2001 Baseline Road.
Matthew Stauber of Colliers, Bennett and Kahnweiler represented Caterpillar in the lease deal.
“We’re glad to have renewed our lease with Caterpillar in Chicago,” said Lanaghan. “The company is a strong tenant and this renewal deal allows them continuous proximity to their local operations.”
IDI also recently closed another lease in metropolitan Chicago with Hubbell Lighting, Inc. The company will occupy 82,933 square feet at 1455 Sequoia Drive in Orchard Road Business Park beginning in January 2010. Hubbell will utilize the space for the distribution of electrical fixtures and supplies for the privately owned Progress Lighting, Inc. brand. Lanaghan was the listing agent and Emmett Purcell and Tom Pulie of USI Real Estate Brokerage Services represented Hubbell Lighting in the deal.
“These two deals end 2009 on a high note for IDI, and we are looking forward to a strong start to 2010,” said Lanaghan.
Atlanta-based IDI (www.idi.com) is a leading, full-service real estate property company with a singular focus on industrial real estate. IDI provides unmatched development, investment, property management and leasing services supported by eight market-focused offices. IDI’s state-of-the-art warehouse, distribution and light-manufacturing facilities enable clients to enhance employee productivity, reduce operational costs and achieve global supply-chain efficiencies. To date, IDI has delivered more than 63 world-class business parks, and developed and acquired 134 million square feet of space in the U.S., Canada and Mexico for a growing roster of international clients.