By Roxana Baiceanu
CBRE represented Weiman Products in a lease renewal and expansion at 705 Tri-State Parkway in Gurnee, Ill. The firm will now occupy the entire 255,418-square-foot asset after previously operating in a 155,000-square-foot space. Another company branch, Weiman Healthcare Solutions, occupies the adjacent building.
“Weiman has experienced excellent growth in recent years and this location allowed the firm to conveniently expand to accommodate its increased activity,” said Whit Heitman, senior vice president with CBRE, in prepared remarks.
Robust leasing activity
The LEED-certified facility was built in 2008 by CenterPoint Properties. It features 30-foot ceiling heights, 20 exterior docks and several trailer spots. It is less than two miles away from Interstate 94 and close to two popular tourist destinations, Six Flags Great America amusement park and Gurnee Mills Mall.
According to CBRE, the Lake County industrial market has experienced a robust activity year-to-date. The 1.4 million square feet of space involved in lease agreements brought the vacancy rate to a low five percent.
In addition to Heitman, the team of brokers that worked on behalf of Weiman also included Senior Vice President Sam Badger, First Vice President Brad Weiner and Vice President Jared Paff.
Image via Google Street View