{"id":1004710154,"date":"2024-04-12T02:26:44","date_gmt":"2024-04-12T10:26:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004710154"},"modified":"2024-05-21T23:56:03","modified_gmt":"2024-05-22T07:56:03","slug":"crow-holdings-inks-1-msf-chicago-area-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crow-holdings-inks-1-msf-chicago-area-lease\/","title":{"rendered":"Crow Holdings Inks 1 MSF Chicago-Area Lease"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004710156\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-inks-1-msf-chicago-area-lease\/silos-building2_front\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Silos-Building2_Front.jpg\" data-orig-size=\"640,480\" 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=\"Silos Building2_Front\" data-image-description=\"&lt;p&gt;The facility at 9850 Mississippi St. in Merrillville, Ind.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The industrial building features 134 dock-high loading doors, four drive-in doors and 40-foot clear heights. Image courtesy of Avison Young&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Silos-Building2_Front.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Silos-Building2_Front.jpg\" alt=\"The facility at 9850 Mississippi St. in Merrillville, Ind.\" class=\"wp-image-1004710156\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Silos-Building2_Front.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Silos-Building2_Front.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><figcaption class=\"wp-element-caption\">The industrial building features 134 dock-high loading doors, four drive-in doors and 40-foot clear heights. <em>Image courtesy of Avison Young<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>In one of the largest recent industrial deals in Greater Chicago, Crow Holdings has signed a full-building lease at 9850 Mississippi St. in Merrillville, Ind. The more than 1 million-square-foot industrial facility is part of the 195-acre Silos at Sanders Farm master plan.<\/p>\n\n\n\n<p>KBC Advisors Partner Ryan O\u2019Leary advised the tenant, a major e-commerce company, while Avison Young Principals Adam Haefner, Marty Mikaitis and Zeke Rowan represented the landlord.<\/p>\n\n\n\n<p>The Class A warehouse came online last September. In 2022, the developer took out a $58.8 million construction loan originated by First National Bank of Omaha, according to CommercialEdge data. That note matures in 2026.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/getting-in-the-heads-of-industrial-tenants\/\">Getting in the Heads of Industrial Tenants<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The distribution center rises on 79 acres and features 134 dock-high loading doors, four drive-in doors, 40-foot clear heights, 250 trailer stalls and almost 440 parking spaces. Located close to Interstate 65, the facility is some 47 miles from downtown Chicago, while the Port of Chicago is 31 miles away.<\/p>\n\n\n\n<p>The building is part of Silos at Sanders Farm&#8217;s Phase One, that also includes a 263,846-square-foot building with 35 dock loading doors and 60 trailer parking spaces. When complete, the $500 million master-planned campus will comprise more than 2 million square feet of industrial space.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-chicago-s-industrial-sector-remains-steady\">Chicago\u2019s industrial sector remains steady<\/h2>\n\n\n\n<p>Even though Chicago\u2019s vacancy rate as of February clocked in at 5.2 percent, 20 basis point higher than the national average, the metro is still performing well, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/ai-leads-to-data-center-boost-across-markets\/\">CommercialEdge industrial report<\/a>. The average asking rate was $6.00, nearly $1.7 lower than the U.S. average. Meanwhile, the market registered the second-largest sales volume nationwide, standing at $373 million. <\/p>\n\n\n\n<p>In February, Tru Vue signed a full-building, <a href=\"https:\/\/www.commercialsearch.com\/news\/high-street-logistics-inks-230-ksf-chicago-area-lease\/\">299,200-square-foot lease extension<\/a> at High Street Logistics Properties\u2019 facility in McCook, Ill. The manufacturer had sold the asset to the current landlord in 2020.<\/p>\n\n\n\n<p>Other notable deals included Norkol Converting Corp.\u2019s commitment to <a href=\"https:\/\/www.commercialsearch.com\/news\/centerpoint-signs-330-ksf-chicago-area-industrial-lease\/\">330,694 square feet<\/a> at CenterPoint Properties\u2019 88 Industrial Center in Montgomery, Ill. The firm will relocate from Northlake, Ill., after 37 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This facility is part of a $500 million master-planned campus.<\/p>\n","protected":false},"author":3355,"featured_media":1004710156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1491,21748,13,21742],"tags":[33022,37358,42548],"class_list":["post-1004710154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-chicago","category-industrial","category-midwest","category-latest","tag-avison-young","tag-crow-holdings","tag-kbc-advisors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crow Holdings Inks 1 MSF Chicago-Area Lease - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Crow Holdings has signed a full-building lease at 9850 Mississippi St., a more than 1 million-square-foot facility in Merrillville, Ind.\" \/>\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\/crow-holdings-inks-1-msf-chicago-area-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crow Holdings Inks 1 MSF Chicago-Area Lease\" \/>\n<meta property=\"og:description\" content=\"Crow Holdings has signed a full-building lease at 9850 Mississippi St., a more than 1 million-square-foot facility in Merrillville, Ind.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-inks-1-msf-chicago-area-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=\"2024-04-12T10:26:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-22T07:56:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Silos-Building2_Front.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-inks-1-msf-chicago-area-lease\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-inks-1-msf-chicago-area-lease\/\",\"name\":\"Crow Holdings Inks 1 MSF Chicago-Area Lease - 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