{"id":1004274200,"date":"2018-10-25T05:33:01","date_gmt":"2018-10-25T13:33:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004274200"},"modified":"2022-12-08T23:33:31","modified_gmt":"2022-12-09T07:33:31","slug":"avison-young-completes-chicago-industrial-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/avison-young-completes-chicago-industrial-lease\/","title":{"rendered":"Avison Young Completes Chicago Industrial Lease"},"content":{"rendered":"<div id=\"attachment_1004274224\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/1845-Tonne-Road.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004274224\" data-attachment-id=\"1004274224\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/avison-young-completes-chicago-industrial-lease\/1845-tonne-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/1845-Tonne-Road.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1845 Tonne Road\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1845 Tonne Road&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/1845-Tonne-Road.png?w=800\" class=\"wp-image-1004274224 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/1845-Tonne-Road.png\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/1845-Tonne-Road.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/1845-Tonne-Road.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/1845-Tonne-Road.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004274224\" class=\"wp-caption-text\">1845 Tonne Road<\/p><\/div>\n<p>Avison Young has facilitated an 89,900-square-foot industrial lease for Cycle Logistics, a transportation and distribution company based in Itasca, Ill., which decided to consolidate its space from multiple locations. The property is located at 1845 Tonne Road in Elk Grove Village in Chicago\u2019s O\u2019Hare submarket.<\/p>\n<p>Principal Todd Heine and Associate Tom Curtis represented the landlord, Ella Holdings. Director Doug Pilcher from Cushman &amp; Wakefield worked on behalf of the tenant.<\/p>\n<p>The building was completed in early 1980s, according to PropertyShark.com, and entered Ella Holdings\u2019 portfolio in 2014. The transaction price was $2.3 million.<\/p>\n<p>\u201c<em>Landlords in the booming O\u2019Hare industrial market continue to benefit from its strategic location and the historically low vacancy rate. This full-building lease allows the landlord to continue operating at 100 percent occupancy without any disruption to tenancy,<\/em>\u201d said Heine in a prepared statement.<\/p>\n<p>According to Avison Young research, the O\u2019Hare submarket, which ranks as one of the most sought-after industrial areas in the Midwest, had a net absorption of 1.2 million square feet of space in Q3. More than 2 million square feet were <a href=\"https:\/\/www.commercialsearch.com\/news\/distribution-realty-everwest-plan-chicago-area-spec-warehouse\/\">in various construction stages<\/a>.<\/p>\n<p><em>Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tenant, Cycle Logistics, is consolidating its distribution space by deciding to operate from Elk Grove Village, Ill.  The landlord of the property is Ella Holdings. <\/p>\n","protected":false},"author":242,"featured_media":1004274224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1491,21743,21748,13,21742],"tags":[33022,42632,32799],"class_list":["post-1004274200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-chicago","category-deals","category-industrial","category-midwest","category-latest","tag-avison-young","tag-chicago-ohare-submarket","tag-cushman-wakefield"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Avison Young Completes Chicago Industrial Lease - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/avison-young-completes-chicago-industrial-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avison Young Completes Chicago Industrial Lease\" \/>\n<meta property=\"og:description\" content=\"The tenant, Cycle Logistics, is consolidating its distribution space by deciding to operate from Elk Grove Village, Ill. The landlord of the property is Ella Holdings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/avison-young-completes-chicago-industrial-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-25T13:33:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:33:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/1845-Tonne-Road.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Roxana Baiceanu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/avison-young-completes-chicago-industrial-lease\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/avison-young-completes-chicago-industrial-lease\\\/\"},\"author\":{\"name\":\"Roxana Baiceanu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/94dbd38faeeb26b4b597d7fbd793c52a\"},\"headline\":\"Avison Young Completes Chicago Industrial Lease\",\"datePublished\":\"2018-10-25T13:33:01+00:00\",\"dateModified\":\"2022-12-09T07:33:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/avison-young-completes-chicago-industrial-lease\\\/\"},\"wordCount\":201,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/avison-young-completes-chicago-industrial-lease\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/10\\\/1845-Tonne-Road.png\",\"keywords\":[\"Avison Young\",\"Chicago O'Hare submarket\",\"Cushman &amp; 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