Clarius Partners developing industrial building in Franklin Park

FRANKLIN PARK - Newmark Grubb Knight Frank has been appointed as the exclusive leasing agent for 9300 King Ave., a new 99,000-square-foot, 6.22-acre, industrial speculative development in Franklin Park.

NGKF was hired by the owner, a joint venture between the developer Clarius Partners, LLC and Wanxiang America Real Estate Group, LLC to market and pre-lease the property. Wanxiang America closed on the property this month.

Chicago-based Clarius is demolishing an existing 154,800-square-foot building to construct the new speculative facility, which will be completed by year-end 2017.

The new, state-of-the-art manufacturing and distribution facility will feature 32-foot clear ceilings, 10 exterior docks, 4 drive-in doors and reduced Cook County Class 6B real estate taxes. Once completed, the LEED designed facility will feature 2,000-amp electrical service, an ESFR sprinkler system, office space to-suit and is divisible to approximately 40,000 square feet.

NGKF's Managing Director Thomas Gath, Senior Managing Director Adam Marshall, SIOR, CCIM, and Director Mark Deady, CCIM, will lead the brokerage team assigned to lease the new development.

"With a Q4 2016 vacancy rate of 5.2 percent in this submarket, there are limited options available right now for companies seeking new, modern, Class A distribution space of this size in the area," said Gath. "The new 9300 King facility will meet this current demand. The site will also benefit from its location on the east side of O'Hare, which is a key distribution location for Chicago and its surrounding suburbs."