MONEE, IL – Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, negotiated the lease of a 246,300-square-foot industrial property located at 25777 S. Cleveland Ave. in Monee, Ill. The transaction value was not disclosed.
Walter Murphy, principal of Lee’s Chicago office, represented the tenant, Liberty Furniture Industries Inc. The tenant is a quality furniture manufacturer. The landlord, JP Morgan Asset Management, was represented by Jeffery Kapcheck of Colliers International.
The lease start date is slated for April 1, 2014 and the term is set for 8.5 years. The facility will have 10,000-square-foot of office space, 25 truck docks and two drive-in doors.
The tenant values the property as a “Class A” facility equipped with a 30-foot-clearance height, Early Suppression Fast Response (ESFR) sprinklers and well docked on two walls.
The industrial property is also within the Tax Increment Financing (TIF) district in Will County of Monee.