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NAI Hiffman Completes 63,318-Square-Foot Industrial Lease, Filling Warehouse Building in Hanover Park, Ill.

March 27, 2020

NAI Hiffman, the largest independent real estate services firm in the Midwest, today announced it has completed a new industrial lease totaling 63,318 square feet, filling a vacant warehouse located on approximately 3.5 acres at 4150 Chandler Drive in Hanover Park, Ill. Joe Bronson, executive vice president of NAI Hiffman, represented the tenant, EFC International, LLC, a global supplier of specialty engineered fastener products, that is expanding and doubling its space in a relocation of its Chicago office to the Hanover Park warehouse from approximately 34,000 square feet in nearby Bloomingdale. Josh Will, an NAI Hiffman senior associate, and Aimee Goudas, an NAI Hiffman associate, also represented the tenant.

“EFC International is running a dynamic business in a very competitive industry and due to its extensive growth, the firm is relocating its Chicago office and expanding into a space twice the size of its prior location in Bloomingdale,” said Bronson. “There are very few choices available for freestanding office/warehouse space in the Central DuPage market, but we were able to successfully negotiate very favorable lease terms for EFC International.”

Bronson, Will and Goudas negotiated the lease, which commences Feb. 1, 2020 for a term of 63 months, ending on April 30, 2025. The landlord, Centerpoint Properties, was represented by JLL’s Dominic Carbonari and Sam Durkin.

“Despite the challenge of finding sufficient space for EFC International to expand its operations in such a tight market, NAI Hiffman was able to locate a building suitable for their needs,” Bronson said. “The firm has even asked us to sell its current facility in Bloomingdale. While smaller than its new facility, it is also freestanding office/warehouse space that is difficult to find in the market, so we know it will sell quickly.”

NAI Hiffman research reported that Chicago’s overall industrial vacancy rate ended the fourth quarter at 5.79%, with 20.6 million square feet of warehouse space under construction at year-end 2019. Despite the surge in supply, industry demand remains strong, according to the NAI Hiffman data, with new leasing activity totaling 10.58 million square feet in the fourth quarter, including 1.2 million square feet in the Central DuPage submarket alone.

Built in 1992 and situated on 3.58 acres, 4150 Chandler Drive provides 24-foot clear heights, four docks, one drive-in door and 73 parking spaces. It is centrally located in DuPage County near I-90 and I-355. In addition to its ideal proximity to a highly skilled labor force, the building also provides easy access for distributing goods to Chicago’s MSA of 9.5 million people. It is 3.3 miles from the Hanover Park Station commuter rail, 4.7 miles from the Schaumberg Station commuter rail and 21.8 miles from O’Hare International Airport. 

About NAI Hiffman:

NAI Hiffman is the largest independent real estate services firm in the Midwest, providing leasing, management, tenant representation, capital markets, project management and marketing services for institutional and private owners and occupiers of commercial real estate. It currently leases and manages an 89+ million square foot portfolio of more than 700 commercial properties throughout the region, with a primary focus on metropolitan Chicago.  With more than 200 employees, NAI Hiffman is the Chicago-area representative for NAI Global, the world’s largest managed network of real estate service providers, with more than 6,700 local market professionals managing more than 380 million square feet of property. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific. For more information, please visit www.hiffman.com.

 

NAI Hiffman represented EFC International, LLC, a global supplier of specialty engineered fastener products, in its expansion and relocation lease of an entire 63,318-square-foot vacant warehouse building at 4150 Chandler Drive in Hanover Park, Ill.