Business

Avison Young brokers industrial building lease

Posted August 19, 2020 1:00 am

FRANKLIN PARK - Avison Young has negotiated a 113,747-square-foot full-building industrial lease at 3311 Charles St. in Franklin Park.

Terms of the lease were not announced.

The newly constructed, class A building has a new class 6B tax status and is 10 minutes from O'Hare International Airport. Avison Young principal Brian Colson and associate Brian Pomorski represented Crow Holdings Industrial, developer and owner of the property, in the transaction. The incoming tenant, Pivot Bio, was represented by Terry Herlihy of NAI Hiffman.

Crow Holdings Industrial purchased the property in 2018 and completed redevelopment in 2019. The building features 16 exterior docks, 2 drive-in-doors, 16 trailer stalls and a 32-foot clear height.

"This market transaction demonstrates the resilience and strength of the Chicago industrial real estate market, more specifically, the O'Hare industrial submarket," said Colson.

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