January 14, 2019
Transwestern has brokered a full-building industrial lease of 343,410 square feet for ODW Logistics Inc. at 5300 Proviso Dr. in Melrose Park, IL. SVP John Joyce represented the landlord, TSP Melrose Park LLC, in the deal.
“Distribution center tenants are expanding to meet growing business needs, especially in the O’Hare submarket,” said Joyce. “Tenants are looking at new construction alternatives, but they are deterred by the premium placed on rental rates from high construction costs.”
The property is distinctive because it has railway access and is cross-docked with 84 truck-level docks, 17 trailer positions, 10 rail doors, 120 car parking spaces, two air freight doors and 30,000 square feet of office space.
“This was one of the largest deals completed in the O’Hare submarket in 2018 in terms of square feet,” said Transwestern’s Sandy McDonald.
Dan McGillicuddy of JLL represented ODW, a 3PL provider, in the transaction.
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